Platinum Buyers Can Demand Higher Prices
Platinum buyers are relatively rare compared to those for gold and silver
. That's probably because platinum can command prices even higher than gold. It's also fitting, as platinum is all the more rare. Platinum is actually but one member of a group of metals known as the Platinum Group of Metals. The others are iridium, palladium, ruthenium, rhodium, and osmium. Aside from its use in jewelry, platinum is also employed in precision equipment such as that found in laboratories.Platinum and platinum-group members require a mix of oxygen and fuel when being melted due to their high melting point. Platinum and its cousins must be cast with special processes due to this high melting point. These white metals are very dense and resist tarnishing. No flux is needed when soldering.
The heavy weight of platinum and its durability make it a favorite in the jewelry industry, for which many platinum buyers work. Platinum can be used to hold fine gemstones firmly in place. Its naturally white luster makes it an ideal setting against which to contrast the brilliance of a diamond. It is also used on its own as the centerpiece.
Incredibly, there was a time when platinum was used for simple pots and pans because people did not value it at all. In fact, it wasn't until the early twentieth century that platinum became used for jewelry. Then it became so valuable, as it has other much more important uses, such as for armament, that the U.S. government banned the further production of platinum jewelry.
Platinum jewelry can contain different amounts of pure platinum. The United States' Federal Trade Commission, or FTC, governs the acceptable standards for platinum jewelry sold in America. According to these guidelines, which platinum buyers should know, platinum content is expressed in parts per thousand. Jewelry that contains at least nine hundred and fifty parts per thousand of pure platinum is simply described as "platinum." Those containing between nine hundred and fifty and eight hundred and fifty parts per thousand are marked "Plat" or "Pt," preceded by the number of the amount of platinum contained. The FTC is currently reviewing industry requests to allow manufacturers to mark jewelry as platinum even if it contains no platinum-group members!
If you will be buying platinum, be sure to inquire about the platinum content and markings. And always get a second opinion! Even a third or fourth would do, though make sure you are getting independent appraisals, as the jewelry business is a very close-knit industry and different shops can be owned by the same family.
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