There are in fact numerous reasons for this difference. There are many reasons why platinum has long been highly sought after, from the obvious to the surprising. It always has before whenever platinum got anywhere near as … White gold jewelry is composed of gold, alloys, and a rhodium plating which gives it a white look that’s similar to platinum. JavaScript seems to be disabled in your browser. This different combination of metals is how we produce varied shades of gold, such as white, yellow and rose gold. Given the density of the metal, these items will be heavier, and feel more substantial, and that matters to many people. Palladium is now the most valuable of the four major precious metals, with an acute shortage driving prices to a record. Platinum jewelry is more expensive than gold… It’s a well-known fact. Gold rings come in a variety of karat weights. Platinum is a hypoallergenic virtually pure precious metal. So, this is also why platinum rings are heavier than palladium rings (almost twice as heavy)! But it is worth the price tag? And this price tag is one of the reasons why white gold is a popular alternative to platinum jewelry. Simply put, yes. Why Platinum Jewelry is Expensive? When it comes to picking a metal for your engagement or wedding ring, platinum is typically a more expensive choice. Even while this is so, platinum jewellery is likely to be more expensive that gold jewellery. Why is platinum jewelry more expensive. Platinum will not reflect daily wear and tear. Vintage & Antique Jewelry Periods: An Overview, Hallmark Vocabulary – The Five S’s of Hallmarks. That means that platinum rings will always have a higher percentage of this precious metal than gold counterparts. More precious metal translates to a more expensive piece of jewelry. Log in. Currently, gold costs around $1,300 per ounce, while the going price for platinum is $850 per ounce. Anything less should not be considered either pure or hypoallergenic or of substantive quality. Why buy platinum vs. white gold or sterling silver? Here’s why platinum jewelry comes with a big price tag: Platinum is much denser than silver or gold. Unlike the next most popular white metal; white gold. More raw materials means more cost. By the end of the 18th century, platinum was a embodiment of reliability and immutability, which greatly influenced its use in the manufacture of jewelry. That isn't the case now though. There are multiple reasons why platinum is more valuable than gold. Although both gold and platinum are rare earth metals, platinum is rarer and thus has a higher value. As such, platinum jewelry costs more than gold, not only because it is 60% heavier (a 10 gram ring vs. a 16 gram ring noted in #1 above), but those grams of precious metal are more pure, and therefore, more valuable and costly in platinum compared to gold. Aside from assuming that platinum is a superior metal, have you wondered exactly why platinum gets the higher ticket price in the jewelry industry? If value is your primary concern than platinum is an excellent choice for you as it will hold value long term. Only rhodium is more expensive than platinum. This makes it the ideal choice for those of us who are clumsy, or work a great deal with their hands. For jewelry platinum is usually 950 Fineness, meaning that it is 95% pure platinum along with some other metals being used as alloys. Weight. Another reason is because platinum is 60% heavier than 14 Karat gold. White gold generally is. Find out where you can watch all the great shows on Gem Shopping Network! And is it worth the price? Firstly, pure platinum is about 11% heavier than gold. Platinum can also be rather tricky to work with. A 24k item would be 100% pure. LEARN MORE >> Rare. Posted in Education. Given gold’s association with wealth and prosperity, you may well be surprised to learn that platinum jewelry is actually more expensive. Which Has More Value: Platinum or Titanium? Join now. While that might sound like a great deal of platinum, it is a paltry sum compared to the 3,300 metric tons of gold mined each year. That means a gold … And a professional annual cleaning will ensure a platinum piece gleams as bright as ever. Platinum is better in purity as compared to Gold in the jewellery sector. A nugget of platinum - Image by Alchemist-hp at Wikipemedia Commons In addition, platinum is the most durable metal used in the jewelry industry. For example, to create a jewelry piece in 14k gold the designer needs 57.5% gold precious metal and 42.5% alloy; to create a jewelry piece in platinum you would need 100% in platinum precious metal. However, if you want a white ring, you can opt for platinum or white gold. At about $2,500 (£1,922) an ounce of palladium is more expensive than gold, and the pressures forcing its price up are unlikely to ease anytime soon. Platinum is 30 times rarer than gold (certainly rarer than silver), thus more expensive and more desirable. Also, since there is higher cost and loss in re-processing platinum, you get less when you sell. That translates directly into a higher cost. Only 160 tons of platinum are mined annually, as opposed to 1,500 tons of gold. Though it bears a similarity to silver, it is much more expensive. Since pure gold is soft in its natural form, it is unsuitable for jewelry design. Palladium vs Platinum … This means to make the same ring, we need to use more grams of platinum than grams of palladium (almost twice the amount)! The main reasons for this is that platinum is denser than gold. Platinum weights 60% more than 14K gold. Jewelry stores who sell high quality platinum offer 950 Grade (95% pure platinum) jewelry. We’ve made it clear that platinum is more expensive than titanium, but does that make it more valuable? For the best experience on our site, be sure to turn on Javascript in your browser. A key component in pollution-control devices for … Why is Platinum Much More Expensive Than Gold? Another reason why platinum rings are more valuable than gold is because the metal is much rarer. Platinum is pure: Platinum is 95-99% pure (the remaining 5 percentage is usually other platinum groups as well). Platinum is between 90 - 99% pure whereas 14K white gold is only 58.33% pure gold with the rest being alloys. Platinum is extremely rare. 14K gold is about 58% pure gold, whereas platinum is about 90% platinum. A 14k ring is 58.3% pure. The main distinguishing physical characteristic between gold and platinum is color. All the world's platinum, melted in a pool, wouldn't reach your ankles. Quality Standards: How we use lab reports to safeguard your jewelry investment. This is due to a number of factors, including its rarity, higher levels of purity when used in jewelry, and the complex level of expertise and tools required when crafting jewelry from platinum. As such platinum jewelry costs more than gold not only because it is 60 heavier a 10 gram ring vs. Copyright © A reported 190 metric tons of platinum are mined annually. Although gold has its own ageless appeal, platinum is quickly gaining a prominent place in even the most traditionally-bound households and women with a more urbane outlook have already incorporated platinum jewellery as a piece de resistance in their style statements. The platinum will contain a higher percentage of fine metal resource. 2021 While both gold and platinum prices have continued to fall so far this year platinum has taken a harder hit making the white metal cheaper than gold. Also, platinum is more dense than gold, so the same ring will weigh significantly more in platinum than in gold (and precious metals are priced by weight). But why does this metal cost more than its counterpart? Platinum is also hypoallergenic, and may not cause irritation to … Platinum can take much more day-to-day abuse before needing to be repaired, whereas silver and white gold need more care. Log in. Today gold is more expensive, but based on historical data platinum is usually more expensive. This means that a platinum piece of identical specifications as a gold or silver piece will be heavier and as a result, more expensive. However over tim… Platinum stands the test of time, exactly like your love. For the best experience on our site, be sure to turn on Javascript in your browser. Usually at about 95%. Platinum jewellery is made up of 95% pure metal, while gold is usually 75% pure metal. Ask your question. Platinum is quite a bit more expensive and may appreciate even more, despite the fact the spot price of gold is currently more expensive than platinum in the commodity market (as of June 2020). All these qualities were appreciated only after they found a way to process and melt this metal. Let’s take a look at the various reasons why platinum has historically been held at a higher value than gold. Every year, approximately 1,500 … To explain this in one other way: 10 grams of 14k gold is going to still be … The primary reason platinum rings are more expensive than palladium rings is because platinum is much more dense than palladium (almost twice as dense)! That’s because the rarer a material is, the more expensive it is. This is a major reason why Platinum settings are more expensive. Find an answer to your question why is platinum more expensive than gold 1. The good news is that both metals are wonderful for jewelry, and have a beautiful glow when polished to a high luster. The main reason platinum is more expensive is that, even at the same cost, it takes more platinum to make a platinum ring than it takes to make a similar size ring in gold. And this price tag is one of the reasons why white gold is a popular alternative to platinum jewelry. Rhodium, which rallied more than 4,000% over a similar period before carmakers found ways to use less, has again spiked toward a record. If you have a 10 kg ingot of gold, then that would be equivalent to 16 kg of platinum. The main reason for this is that precious metals are priced by weight and platinum is much denser than gold, so any platinum jewellery will weigh more. Platinum alloys used in jewellery are purer. Typically, you’ll need an accomplished jeweller to work with this metal, and achieve the master-crafted finish you are looking for. Aside from assuming that platinum is a superior metal, have you wondered exactly why platinum gets the higher ticket price in the jewelry industry? Platinum is also naturally white, unlike alternatives such as white gold. It is about 60% heavier than 14K gold and 40% heavier than 18K gold. Platinum is a naturally white metal, whereas gold is naturally yellow. This means its colour will not fade, or lose its lustre over time (which is not the case with white gold). So now that you know what’s behind platinum’s hefty price tag, will you decide on this rare metal for your next piece of jewelry? Join now. Call us on +2711 523 6600 to speak with us, book an appointment or email customercare@jennaclifford.com. While the two metals appear fairly similar to the naked eye, platinum is the pricier of the two. Currently, gold costs around $1,300 per ounce, while the … An 18ct gold wedding band which weighs 6 gms would weigh 8,5 gms in platinum. Platinum jewelry is more expensive than gold… It’s a well-known fact. The answers I’ve seen on this page don’t really reflect the reality in my opinion. LEARN MORE >> Eternal. The historical average is that platinum is somewhere around a third more expensive than gold. So given how rare platinum is, and how much of the metal is required for jewelry, it’s no wonder it comes at a hefty sum. For this reason, pure gold is mixed in with other metals to give it greater durability. Platinum is also very durable, and is stronger than gold. Platinum jewelelry is consequently more expensive than gold jewellery. At the very least, a bet on platinum again becoming more expensive than palladium... and again more expensive than gold, seems likely to pay off eventually. And that costs extra. Also, platinum requires hotter casting and other more involved labor, so that cost is higher too. But is it really worth it? Due to its rare nature, platinum is historically more expensive than gold, but there are times when the opposite is true. Platinum is the most expensive of the precious metals. LEARN MORE >> All About Platinum. Contrarian metals investors are positioning themselves in platinum at current levels with the expectation that when the market turns, prices could run higher for years to come. It is silver-white in color and highly resistant to corrosion and high temperatures. Given gold’s association with wealth and prosperity, you may well be surprised to learn that platinum jewelry is actually more expensive. They have similar color as both are naturally white. An 18k ring is 75% pure. Platinum is far less plentiful than other precious metals, such as gold. But this may not readily translate to jewelry and its long-term valuation. Whether you’re walking down memory lane, the red carpet or the aisle, platinum is the premier precious metal for jewelry of any occasion. All platinum rings, on the other hand, are 95% pure. And when we discuss how much pure gold is in a ring, we do so by talking about karat weights. The first reason behind platinum’s prime price tag has to do with the makeup of the metal, and how much of it is used in jewelry design. Platinum is almost twice the density of gold. Platinum weighs 60% more compared to 14k gold. Jenna Clifford. Here are the facts: Palladium is less expensive than platinum Palladium weighs less than platinum Palladium belongs to the same chemical group as platinum and therefore has similar chemical behaviour Palladium is more difficult to work with in jewelery Platinum and palladium are indeed quite similar. Wishing you a brilliant day! Because of its hardness, platinum can be used in a purer form than gold. So a platinum ring will weigh newly double what the same ring weighs in gold. Platinum and gold are both precious metals. If you want a yellow ring, then yellow gold is the best option. Palladium … In fact platinum could cost you 4 times or more for that lovely precious metal. 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