Where to Sell Platinum Ring | Platinum Ring Price – Las Vegas, NV

People know and love platinum for its lustrous, silvery-white color. And for that reason, jewelers consider it as one of the most luxurious and elegant metals in the world. It is stronger than gold or silver, and if you want a long-lasting piece of jewelry, platinum is the top choice for metal. Because of platinum’s elegant luster and longevity, platinum is the top choice for wedding rings amongst couples. It is also a lucrative deal when you sell your platinum ring in the secondary market. Read more about where to sell platinum rings and how much your platinum ring is worth.

Platinum Ring Price

Platinum is extremely rare, and it is rarer than gold. Even though gold is more expensive, platinum is also very valuable. And just like other precious metals, platinum’s value is determined by its purity or fineness. So when you sell your platinum ring, you must know its value. Several factors influence the value of your platinum ring. These include the following:

Purity

Purity refers to the percentage of pure platinum that is in your ring. Platinum jewelry will usually have a mark on them with numbers that indicate its platinum content, with 999 being 99.9% platinum, 950 (95%), 900 (90%), and the lowest 850 (85%). The letters PLAT or PT can also be found, indicating that the ring is platinum and not silver.

Weight

Another factor to consider is the weight of your platinum ring. As platinum is sold by the ounce. However, it is easy to calculate how much platinum you have. You will just need a scale that can measure down to the tenth of a gram to get going.

Spot price

Platinum’s price is determined by the market and is primarily influenced by its supply and demand. As a result, it is extremely volatile, even more so than gold and silver, because of its lower liquidity. To learn more about platinum’s spot price, go here. If you are planning to sell your platinum ring, it is better to sell it when platinum’s price is high.

Brief History

Platinum’s first recorded use is traced back to ancient Egypt in 1200 BC. Archeologists found traces of platinum in a small box inside ancient Egyptian princess Shepenupet II’s tomb. The box had gold-platinum hieroglyphics decorations on it. However, ancient Egyptians seem to not know the metal.

In 1557, when Julius Caesar Scaliger discovered platinum, it was described as something that fire could not melt. It was discovered between the town of Darién in Panama and Mexico. Miners used to consider platinum as an impure version of gold, and it was thrown away.

In 1753, while traveling through Colombia and Peru, Spanish scientists Antonio de Ulloa and Jorge Juan y Santacilia noticed the natives mining platinum. When they found the mines, they bought home chunks of whitish metals.

Then, in the early 1900s, platinum’s popularity spread to the United States, enthralling the American public. However, the United States government classified platinum as a strategic metal during World War II, banning its use in jewelry. As a result, platinum was almost forgotten by the end of the war.

Why Platinum?

Platinum is a precious metal known for its silvery-white luster. It is very malleable, making it easier to work with than gold. However, it is a very strong metal, making it more preferable for everyday wear jewelry.

Another thing that makes platinum stand out from other metals is that it is tarnish-resistant. Being tarnish-resistant, coupled with its incredible strength, makes it the ideal metal for setting gemstones, especially diamonds.

Because of platinum’s incredible durability, it is the top choice for making jewelry. Especially for everyday wear jewelry like rings—wedding rings & engagement rings in particular. Aside from its durability, platinum is also hypoallergenic. And it is highly valuable in the secondary market when you sell your platinum ring.