Is Platinum Jewelry Worth Anything? how much is platinum jewelry worth? Should You buy platinum jewelry?
If you want to find these answers. This short post is just for you.
It might look so good, but at the end of the day when you buy expensive jewelry, one of the first things that cross your mind is whether that item of jewelry will be worth anything once you take it out of the shop or after it’s been delivered to your doorstep and you just wore it, or not.
But who can blame you? For the longest time, jewelry has been regarded as one of the most valuable investments one could make, especially if you opt for the jewelry pieces made of precious metals.
We’ve heard of people who made it through their toughest times by selling off their jewelry. So, if you are thinking of switching things up from golds and silvers to platinum, it would be a smart move to check whether the platinum jewelry is worth much or anything at all.
All About Platinum
Platinum falls in the same category with three of the other precious metals: gold, silver, and palladium. The difference between platinum and these other three precious metals is that Platinum is the most expensive of the three, it’s the most prestigious, and also the most exclusive option. On top of all that, platinum is also the strongest of the precious metals, which is why platinum was only worn by the rich and wealthy in the past.
Platinum dates back to Ancient Egypt, 5000 years back, and it was also worn/ used by the South American and Inca Indians. The usage of platinum had, however, increased by mid-1800s, and it was recognized as one of the precious metals around the same time.
Is Platinum Jewelry Worth Anything?
The first thing you need to do to determine whether the jewelry you are buying/ already bought is valuable or not, you need to check for hallmarks. Hallmarks are used to tell the actual metal content in the jewelry, and other hallmarks tell more about the manufacturer, designer, and the country of origin, among other features. So, if you are buying authentic jewelry or wearing one that has been around for about 100 years, you should see the hallmark. Essentially, all fine jewelry comes with some form of hallmark.
Platinum hallmarks include PLATINUM, PT, PLAT, or 950. You should also check the weight of the jewelry. Like all other precious metals, the hallmark symbol on the platinum jewelry depends on the amount of platinum in the metal. 950 Plat/ 950Pt is the purest form of platinum found in jewelry, and it signifies a percentage purity of 95% with 5% alloy metals.
900 Plat is 90% pure with 10% other metals, while 850 Plat means purity of 85%. Then there’s 800Pt.200Pd, which means that the jewelry is 80% platinum and 20% palladium or any other metal.
If, however, you are sold a jewelry piece with no platinum label, then it means that the jewelry’s platinum concentration doesn’t exceed 50%. Most high-value platinum jewelry will have platinum purity levels of between 85 and 95%.
Regarding the price, platinum is valued higher than gold because it is rarer, denser, and it also requires the use of specialized tools to be carved out.
That said, how much is platinum jewelry worth?
Whether you take the platinum jewelry to platinum jewelers or a jewelry/ metal testing lab, the value of platinum in the provided jewelry sample is determined (after testing for platinum) by the following formula:
Platinum’s Value = (Weight x Purity x Current market rate)/100
To determine the purity of the jewelry, the following will be considered:
- The markings/ Hallmark and their meaning
- If that platinum ring comes with a diamond, then its value might go up significantly.
Pros and Cons of Platinum
- Platinum enhances that diamond sparkle– platinum is naturally silvery-white, and it offers a soft sheen that will effortlessly accentuate any gemstone, but mostly, diamonds. Although platinum has a soft sheen, this luxurious metal is a neutral shade, especially when used for wedding bands, and that means no reflection while encouraging natural light to radiate off it.
- It’s hypoallergenic– you don’t have to worry about nickel allergies or any other form of metal sensitivities because high-end platinum jewelry comes with absolutely no nickel. Nickel is the primary cause of skin allergies and sensitivity reactions.
- It’s very durable– besides being one of the most luxurious precious metals, platinum would also take the crown for the most durable precious metal. Its durability comes from its high density – you need more of this metal to craft the perfect platinum ring or necklace. Also, you won’t have to worry about scratches or knocks because platinum is extremely resistant. Platinum jewelry looks as it looked when you bought it, even if you’d owned and worn it for 10+ years.
- Corrosion-Resistant– You can wear the jewelry even in the harshest conditions because platinum is resistant to harsh chemicals like sulphuric acid, as well as other conditions. It’s also extremely durable
- Very Expensive– Given its rarity, platinum jewelry is really expensive, and you really need to be ready to invest in platinum jewelry. Its cost is a worthy investment though, and there’s the ac that it’s worth a lot more than pure gold or white gold.
- Limited/ Expensive resize option– the biggest challenge around platinum jewelry has to do with the hardness level of the metal as well as its resistance to conditions like high heat and pressure, factors that make platinum jewelry extremely expensive to resize.
Should You buy platinum jewelry? Or When to buy?
Yes. Even though platinum’s monetary value is all over the place and it will vary depending on the purity of the metal, existing economic state, where you buy it, and the weight of the platinum. Platinum is quite valuable, though, and investing in platinum jewelry is a great investment move.
With the market fluctuates, there is no perfect time to buy that platinum jewelry. But for the best rates, the smartest move you could make would involve checking the current prices against the historical price, understand its market, and buy it when the price is perfect for you.
Platinum is slowly becoming one of the most popular/ go-to options of wedding and engagement rings. It’s a worthy investment, and you will be wearing jewelry that will pretty much last forever. Just make sure you check the hallmark sign before you leave the store.
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