Is Platinum More Expensive Than Diamond?(Detailed Comparison )

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These two materials are commonly set together in the creation of very valuable engagement rings.

Both these components are world-famous for their hardiness, bling, and a lifetime of wear. Given as they are both rare to come by, we wonder if platinum is more expensive than diamond.

Platinum and diamond are the best combinations in terms of ring settings. They represent the perfect combination of the values of strength and commitment that foster a long-lasting relationship.

This symbolism has led to an increase in such engagement rings as couples seek to express their undying love.

Before we telling you the answer directly, you need to understand the platinum and diamonds first. Also, we introduce the pros and cons of each item.

What is Platinum?

This is a naturally occurring metal that’s white or silver and is found uncombined in alluvial deposits. Platinum is far rarer, weighs much heavier, and is harder than gold.

Opposed to gold which needs to be alloyed with other metals to make it stronger, platinum is used in a purer form at 95% pure metal with 5% for metal alloys such as iridium, palladium or ruthenium which are all hypoallergenic.

Platinum is a highly sought-after metal because it is scratch resistant as compared to other white metals. The truth is, platinum metal gets bumps and ridges along its surface and ridges with a long-time everyday wear.

This effect is referred to as ridging and is common among platinum metals as they are exposed to harsh environments and objects all day long.

Platinum is also known not to tarnish unlike other metals like white gold. Instead, platinum develops a shade of color on the ring’s surface called the patina. Most people appreciate this change in hue because it reminds them how long the relationship has lasted and shows that the wearer was very fond of the ring.

This is the best metal for all sensitive skin types but sometimes cobalt could be used in the making of a platinum alloy and this might be reactive to sensitive skin.

For people with an active lifestyle and demanding, busy or chaotic working environment, platinum is the way to go because it will retain its luster over the years of daily wear.

Pros

  • Platinum is a hypoallergenic metal meaning it is safe for all skin types to wear
  • Platinum is an ideal choice for a family heirloom piece because it lasts a lifetime and many more.
  • Platinum does not scratch but suffers from ridging on edges and the surface. These can be straightened out easily at the jewelers to return your platinum metal to its original glory.
  • Instead of tarnishing, platinum gains a shade of color called patina. This gives the metal vintage and authentically antique look that many people appreciate. You can always have it rhodium plated to get rid of these effects if they are unwanted.

Cons

  • Platinum is very rare to find compared to other metals
  • It is a hardy metal that doesn’t get manipulated easily. Which makes it both hard to work with and perfect for holding diamond sets firmly in place for eternity.

 

General use of Platinum Metal

More than its use as a jewelry setting metal platinum has many other uses that have shaped the current world we live in.

  1. Platinum is used as a catalytic converter in public service vehicles. This demand accounts for 50% of platinum’s total sales. It is ideal because it possesses properties that dilute emissions making them less harmful to the environment.
  2. Also used as a catalyst for the effective creation of silicone, benzene, and nitric acid.
  3. The most widely acclaimed use of platinum is in our technology. Platinum has been used to create, LCDs, dental fillings, spark plugs, computer hard disks, and turbine blades.
  4. In the field of Cancer, platinum plays a vital role in chemotherapy drugs on cancer patients.

 

What is a Diamond?

Diamonds are created in the earth’s core where carbon elements are heated at very high temperatures and then pressure exerted on the carbon elements making them combine powerfully into a compact carbon structure.

This is the most concentrated form of natural and pure carbon elements. As a crystalline component of carbon, diamonds are similar to coal or graphite. Their differences are highlighted in the molecular structures of the carbon which differ with each element.

These unique molecular structures are what give the elements the characteristics and properties they are famous for. They are what makes a diamond so strong and indestructible unlike any other stone on earth.

 

Pros and Cons of Diamonds

Pros

  • For a small size of a diamond crystal, it is possible to fetch a lot of money based on the cut, clarity, color, and carat weight of the gem.
  • Diamond’s tiny size allows for easier and more affordable safety procedures to be put in place. You can stash them in a bag and hide, bury or keep them in a bank’s safe.
  • Diamonds have multiple functionalities such as jewelry, making of equipment, tools, or as a form of exchange for another item of desire.
  • They are hardy, long-lasting, indestructible, scratch-resistant minerals that keep their shape and form over long years.
  • If you have diamonds in your possession, it is advisable to have them insured against theft or loss. Unlike platinum which cannot be replaced once lost.

Cons

  • Diamond prices are subject to changes in supply and demand which govern their erratic prices that keep changing and shifting from time to time. Diamonds lack a pricing mechanism which makes it difficult to predict future outcomes.
  • Diamonds are seriously expensive and making a financial commitment to buy them requires proper planning months or even years before the day of purchase. Dreams of reselling the diamond may need to be kept on hold as the markets are shifty.

 

General use of Diamonds

Due to its hardy properties, diamond is heavily used by big industries such as the military, mining, and locomotives.

  1. Diamond pieces are added to drills and saws to make them more effective and powerful when cutting through tough material.
  2. Diamonds can also be used as a beauty product with new technology unveiling facial masks that exfoliate and diamond powder is used to minimize the appearance of skin blemishes and imperfections. High-level celebrities have been spotted donning this new trend but questions about its sustainability and effectiveness have been raised.
  3. In the medical fields, tiny diamond particles known as Nanodiamonds are used to monitor cell reactions to cancer medication. The reflective properties of diamonds give doctors the ability to view internally how the human body functions.
  4. Further in the medical field, diamonds have been signed out as possible agents for the creation of bionic eye implants to fix the visually impaired.
  5. In entertainment, sound professionals have turned to diamond use in their speaker domes because they do not damage the quality of sound at a high vibration. Recording players and DJ equipment that uses diamond needles in their system produce high-quality content.

 

 

What’re the Differences Between Platinum and Diamond?

To start with, platinum is a metal similar to others like copper, zinc, and silver while a diamond is a gemstone. A comparison between the two will not be detailed because they do not share the same properties, a measure of scale, or market price.

Because these two elements are used mostly in the design and production of wedding and engagement rings, they may possess a lot of similarities that have led to their amazing combination in a ring setting.

The most obvious difference between the two elements is that platinum is metal while diamonds are minerals. They both have to be located via a global position system and mined to get to them.

While platinum is strictly naturally occurring and cannot be possibly duplicated by any known form of artificial intelligence, diamonds have in the past 70 years been lab-created with great success rates. Now, there are lab-made diamonds available that look, feel, and weigh like the real diamond only going at half the price.

Platinum is graded and measured by its purity in metal. That is to say that a metal claiming to be platinum-based should be 50% pure platinum with alloys. A real platinum piece will be marked 950 signifying 95% purity or 950 parts of pure platinum out of a possible 1000.

Diamonds, on the other hand, are measured and categorized by the 4Cs measure of scale that evaluates diamonds based on their cut, clarity, color, and carat weight. The higher the score on each of these values, equates to a highly valuable diamond crystal regardless of size.

 

Is Platinum More Expensive Than Diamond?

1 carat in metrics, converts to 0.2 grams.

The price of platinum per gram is 25 dollars and a 1-carat diamond, considering its cut, clarity, and color, costs anywhere between 2,500 and 16,000 dollars.

Diamonds are far more expensive than platinum.

 

To conclude

Both platinum and diamond are invaluable elements that are hardy and naturally found after mining.

It is clear that diamonds regardless of their size will beat platinum in terms of monetary value.

Also evident is that both elements are multifunctional and very vital in the improvement of products and services that we are all dependent on.

Guys, read more jewelry metals here or visit our home page for more. 

 

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