In addition, platinum is the most durable metal used in the jewelry industry. Platinum is better in purity as compared to Gold in the jewellery sector. 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). And is it worth the price? For the best experience on our site, be sure to turn on Javascript in your browser. 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. LEARN MORE >> Rare. An 18ct gold wedding band which weighs 6 gms would weigh 8,5 gms in platinum. Why is Platinum Much More Expensive Than Gold? A nugget of platinum - Image by Alchemist-hp at Wikipemedia Commons If you want a yellow ring, then yellow gold is the best option. It is silver-white in color and highly resistant to corrosion and high temperatures. For this reason, pure gold is mixed in with other metals to give it greater durability. All platinum rings, on the other hand, are 95% pure. Only rhodium is more expensive than platinum. When it comes to picking a metal for your engagement or wedding ring, platinum is typically a more expensive choice. Platinum and gold are both precious metals. In addition, while platinum is common in the luxury sector, gold settings are more common and produced much much more in general, which can keep the gold setting prices relatively low. That translates directly into a higher cost. Gold rings come in a variety of karat weights. This means to make the same ring, we need to use more grams of platinum than grams of palladium (almost twice the amount)! In fact platinum could cost you 4 times or more for that lovely precious metal. A key component in pollution-control devices for … Platinum is pure: Platinum is 95-99% pure (the remaining 5 percentage is usually other platinum groups as well). LEARN MORE >> All About Platinum. Quality Standards: How we use lab reports to safeguard your jewelry investment. 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. Weight. A 14k ring is 58.3% pure. And this price tag is one of the reasons why white gold is a popular alternative to platinum jewelry. 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. 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. Platinum weighs 60% more compared to 14k gold. This is a major reason why Platinum settings are more expensive. And this price tag is one of the reasons why white gold is a popular alternative to platinum jewelry. Join now. Given gold’s association with wealth and prosperity, you may well be surprised to learn that platinum jewelry is actually more expensive. That means that platinum rings will always have a higher percentage of this precious metal than gold counterparts. Palladium is now the most valuable of the four major precious metals, with an acute shortage driving prices to a record. 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. Platinum is a naturally white metal, whereas gold is naturally yellow. Given the density of the metal, these items will be heavier, and feel more substantial, and that matters to many people. LEARN MORE >> Eternal. Call us on +2711 523 6600 to speak with us, book an appointment or email customercare@jennaclifford.com. Platinum jewellery is made up of 95% pure metal, while gold is usually 75% pure metal. So platinum jewelry is a much purer and denser metal-type than gold. The primary reason platinum rings are more expensive than palladium rings is because platinum is much more dense than palladium (almost twice as dense)! 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. While the two metals appear fairly similar to the naked eye, platinum is the pricier of the two. Platinum is extremely rare. Aside from assuming that platinum is a superior metal, have you wondered exactly why platinum gets the higher ticket price in the jewelry industry? 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. All these qualities were appreciated only after they found a way to process and melt this metal. Platinum is also hypoallergenic, and may not cause irritation to … Platinum jewelelry is consequently more expensive than gold jewellery. Currently, gold costs around $1,300 per ounce, while the … Because of its hardness, platinum can be used in a purer form than gold. Platinum is more expensive because it is rarer and mined much less than gold. Every year, approximately 1,500 … Platinum is 30 times rarer than gold (certainly rarer than silver), thus more expensive and more desirable. Platinum alloys used in jewellery are purer. More precious metal translates to a more expensive piece of jewelry. Platinum is a hypoallergenic virtually pure precious metal. Currently, gold costs around $1,300 per ounce, while the going price for platinum is $850 per ounce. All the world's platinum, melted in a pool, wouldn't reach your ankles. The historical average is that platinum is somewhere around a third more expensive than gold. The good news is that both metals are wonderful for jewelry, and have a beautiful glow when polished to a high luster. An 18k ring is 75% pure. The platinum will contain a higher percentage of fine metal resource. JavaScript seems to be disabled in your browser. Platinum jewelry is more expensive than gold… It’s a well-known fact. Join now. This means its colour will not fade, or lose its lustre over time (which is not the case with white gold). So a platinum ring will weigh newly double what the same ring weighs in gold. The bullion price of platinum is currently lower than that of gold. Also, platinum requires hotter casting and other more involved labor, so that cost is higher too. 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? Platinum jewelry is more expensive than gold… It’s a well-known fact. The main reasons for this is that platinum is denser than gold. Even while this is so, platinum jewellery is likely to be more expensive that gold jewellery. The answers I’ve seen on this page don’t really reflect the reality in my opinion. Why Platinum Jewelry is Expensive? Copyright © Platinum weights 60% more than 14K gold. So, this is also why platinum rings are heavier than palladium rings (almost twice as heavy)! 14K gold is about 58% pure gold, whereas platinum is about 90% platinum. Platinum is also very durable, and is stronger than gold. The main distinguishing physical characteristic between gold and platinum is color. 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. 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). Also, since there is higher cost and loss in re-processing platinum, you get less when you sell. 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. They have similar color as both are naturally white. Posted in Education. White gold generally is. Platinum can take much more day-to-day abuse before needing to be repaired, whereas silver and white gold need more care. While the two metals appear fairly similar to the naked eye, platinum is the pricier of the two. Jenna Clifford. Aside from assuming that platinum is a superior metal, have you wondered exactly why platinum gets the higher ticket price in the jewelry industry? Why buy platinum vs. white gold or sterling silver? Another reason is because platinum is 60% heavier than 14 Karat gold. 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. For jewelry platinum is usually 950 Fineness, meaning that it is 95% pure platinum along with some other metals being used as alloys. 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. Why is platinum jewelry more expensive. Ask your question. Platinum is between 90 - 99% pure whereas 14K white gold is only 58.33% pure gold with the rest being alloys. Another reason why platinum rings are more valuable than gold is because the metal is much rarer. To explain this in one other way: 10 grams of 14k gold is going to still be … Rhodium, which rallied more than 4,000% over a similar period before carmakers found ways to use less, has again spiked toward a record. 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. This different combination of metals is how we produce varied shades of gold, such as white, yellow and rose gold. 1. Vintage & Antique Jewelry Periods: An Overview, Hallmark Vocabulary – The Five S’s of Hallmarks. Platinum is the most expensive of the precious metals. 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 … Simply put, yes. Palladium … Here’s why platinum jewelry comes with a big price tag: Platinum is much denser than silver or gold. Log in. Platinum is almost twice the density of gold. That isn't the case now though. It is about 60% heavier than 14K gold and 40% heavier than 18K gold. 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. Jewelry stores who sell high quality platinum offer 950 Grade (95% pure platinum) jewelry. 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