How to Buy Platinum

Your Guide to buying the best Platinum

Overview

This buying guide aims to provide an informative overview of Platinum, an invaluable and rare metal which has been used for over 2,000 years. It will cover the unique properties of Platinum, the different types of Platinum, how to evaluate the quality of Platinum, and how to find reputable Platinum dealers. Additionally, this guide will provide helpful tips on how to purchase Platinum safely and securely. With this guide, you will be able to make an informed decision when looking to purchase Platinum.

Key features

  1. Purity: Look for Platinum that is at least 95% pure and marked with the “PT950” hallmark. Lower purity levels may not be as valuable and long lasting.
  2. Cost: Platinum is more expensive than other metals, so consider your budget and shop around for the best prices.
  3. Design: Look for Platinum items that are designed to last, with clean lines and a timeless look.
  4. Weight: Platinum is a dense metal, so try to find items that are heavy and feel substantial.
  5. Durability: Platinum is a scratch-resistant metal that doesn't tarnish, making it a great choice for jewelry that will last for many years.
  6. Certification: If you're buying a Platinum item that will be used as an investment, look for certification from a recognized lab to ensure its authenticity.

See the most popular Platinum on Amazon

Important considerations

Pros

  • Durability - Platinum is a strong and durable metal, known for its resistance to wear and tear. It is an essential metal for items that will be exposed to a lot of pressure and wear.
  • Luster - Platinum has a natural luster and shine that can be stunning when properly worked and polished. It is also hypoallergenic, making it a great choice for people with sensitive skin.
  • Value - Platinum is one of the more valuable metals, so you can expect to get a good return on your investment when choosing it.
  • Versatility - Platinum can be used for a variety of purposes, from jewelry to industrial applications. It is also a great choice for custom pieces and designs.

Cons

  • Price: Platinum is much more expensive than other metals, such as gold or silver, and can be out of reach for many people.
  • Availability: Platinum is a rare metal and is not as available as other metals, making it difficult to find in certain areas.
  • Durability: Platinum is not as durable as other metals, such as gold or silver, and is more prone to scratches and wear.
  • Care: Platinum requires more frequent cleaning and polishing to maintain its luster and shine.

Best alternatives

  1. Palladium - A rare, silvery-white metal that is similar to platinum in its characteristics and is used in many of the same industries.
  2. Rhodium - A rare, silvery-white metal that is harder, denser and more corrosion-resistant than platinum.
  3. Iridium - A rare, silvery-white metal that is even more corrosion-resistant than platinum, and is often used in electrical contacts and spark plugs.
  4. Gold - A precious, yellow metal that is softer and more malleable than platinum, and is used in jewelry and other decorative items.
  5. Silver - A precious, silvery-white metal that is softer and more malleable than platinum, and is also used in jewelry and other decorative items.

Related tools, supplies, and accessories

  • Platinum Bullion Bars - Pre-customed bars of platinum typically sold in 1, 10, and 100-troy ounce sizes, depending on the dealer.
  • Platinum Coins - Government issued coins that contain platinum in varying purity levels and sizes.
  • Platinum Jewellery - Platinum jewellery is generally made up of 95-98% pure platinum and is available in various styles.
  • Platinum ETFs - Exchange-traded funds that hold physical platinum with the goal of tracking the spot price and performance of the metal.
  • Platinum Futures - Contracts with a specific price per ounce of platinum for delivery at a future date.

Common questions

  1. What is Platinum?
    Platinum is a precious metal used in jewellery, medical equipment, catalytic converters, electrical contacts, and various other industrial applications. It is the most corrosion-resistant of all precious metals and has a distinct blue-grey colour.
  2. Where does Platinum come from?
    Platinum is found in the Earth's crust in small concentrations. It is typically mined in Russia, Canada, and South Africa.
  3. What are the benefits of Platinum?
    Platinum is highly durable and resistant to corrosion, making it an ideal material for jewellery. It is also ductile, malleable, and has a higher melting point than other metals, making it ideal for industrial applications.
  4. What is the cost of Platinum?
    The cost of Platinum varies depending on its purity, size, and origin, but typically ranges from $500 per troy ounce to $2,000 per troy ounce.
  5. What is the best way to buy Platinum?
    The best way to buy Platinum is to purchase it from a reputable dealer or online retailer. It is important to verify the authenticity of the metal before making a purchase.
  6. How should Platinum be stored?
    Platinum should be stored away from other metals and in a cool, dry place. It should be handled with care to avoid scratches and other damage.

Trivia

Platinum is one of the rarest metals on earth. This naturally occurring metal is produced in only a few places worldwide, including South Africa, Russia, and Canada. It is estimated that about 0.005 parts per million of the Earth’s crust is composed of platinum. The rarity of the metal makes it a highly coveted material. In fact, the most expensive jewelry in the world is made from Platinum. It is said that Platinum is the most expensive metal on the planet and it’s estimated that it is 30 times more expensive than Gold. Source: Platinum Group Ltd.

Disclaimer: This buying guide was not created by humans, and it is possible that some of it's content is inaccurate or incomplete. We do not guarantee or take any liability for the accuracy of this buying guide. Additionally, the images on this page were generated by AI and may not accurately represent the product that is being discussed. We have tried to convey useful information, but it is our subjective opinion and should not be taken as complete or factual.