Whether you’re choosing a new platinum necklace or a platinum ring, the most important thing to look for in platinum jewelry is the metal’s purity grade. High-purity platinum jewelry is more durable and has greater value, while pieces mixed with higher amounts of other metals are generally a more affordable option. If you’re looking for long-lasting wear and maximum shine, look for platinum jewelry that’s at least 85% pure platinum. Additional metals alloyed with platinum should be cobalt or ruthenium, as cheaper metals like iridium weaken and wear out faster.
The purity grade of a piece of platinum jewelry is measured in units per thousand, meaning that a piece of jewelry containing 950 platinum is 95% pure platinum. 85% and 95% jewelry is the most common, both of which are considered high quality. Some jewelry that gives pieces with platinum percentage is as low as 58.5%, although these pieces are non-abrasive and can scratch or crack easily. The platinum jewelry with the upper part of the pure platinum is considered a high quality. Consumers who want platinum jewelry at an affordable price, however, can benefit from a design that uses inexpensive metal.
Platinum is often used to make beautiful Wholesale Jewelry, heirlooms, and wedding and engagement rings because they are stronger than other metals. If you are looking for platinum wedding jewelry, it is best to choose a ring that incorporates a hard metal such as cobalt or ruthenium with platinum, as this will improve the strength of the ring. Soft metals lose weight quickly, can be easily scratched and can damage.
Before making a final decision, you should also be aware that platinum can be more difficult for jewelers to work with than other metals. It is important to find a jeweler who is experienced in working with platinum if you want a custom design with a complex experience.
When choosing new platinum jewelry, it’s important to look for designs that match your taste and lifestyle. To protect your jewelry, you should avoid wearing it in harsh situations or during physical labor, as these activities may scratch or damage the accessories. Look for pieces that are easy to remove or cover, as well as simple, low-profile pieces. After investing money in high-quality platinum jewelry, protect your investment with regular care, cleaning, and polishing to keep it looking like new.
What are the best tips for investing in platinum?
Investing in platinum can be a daunting prospect for the average investor due to its high cost compared to other precious metals like gold and silver. It is also a relatively volatile commodity, meaning prices tend to rise and fall significantly over short periods of time.
For these reasons, those investing in platinum may want to mitigate their risk by investing in the metal through futures contracts, which lock in the purchase price, and mutual funds, which may contain many platinum. Investors should also understand which industries use platinum and focus on those industries when determining when and where to invest.
Understanding the nature of an investment should always be paramount before investors proceed, and the same goes for investing in platinum. Investors should be aware that the metal is extremely rare compared to gold and silver, which are the other two most common precious metals. Simple laws of supply and demand therefore indicate that platinum prices should be high, because there is not much to do.
Yet, platinum market prices can fluctuate wildly depending on global economic factors. When an economy is doing well, people have money to spend on platinum, and the price can even rise well above the price of gold. At times when the economy is trending down, demand for this expensive precious metal can drop, driving prices well below gold. As it is, those investing in platinum should be aware of the overall economic signs before proceeding.
Taking the risks of investing in platinum may scare off some investors, but there are ways to reduce exposure while still enjoying the benefits of platinum. A futures contract requires an investor to make a large margin payment, but also gives them the ability to lock in a price before buying. Funds that combine different precious metals securities also offer investors the opportunity to get involved in platinum without exposing themselves to the risk of being ruined by an underperforming security.
When investing in platinum, it is essential to know which industries use the metal the most, as increased production from these industries will also lead to increased demand for platinum. Almost half of the platinum produced in the world is used by the automotive industry, which uses the metal to make the catalytic converters found on automobiles. Periods of strength in the automotive industry usually coincide with a boom in platinum demand. Investors should also follow the popularity of platinum jewelry as it is another popular use for this metal.