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Platinum Rings

Platinum, Precious Metal Prices platinum, precious metal hardness, white gold

Why Is Platinum So Expensive?

March 18, 2021

Is Platinum The Same Things As White Gold?

Platinum is a much harder metal than gold and can be used to make jewelry without too much modification and so, it commands a higher price than gold. White gold is yellow gold mixed with other elements like palladium to give its white color and to strengthen it for use in jewelry.

Platinum is a unique, precious metal that is rarer than gold, is stronger & is more enduring. Platinum was first found in the 16 century during the European conquest of S. America and first used in modern jewelry during the mid 1800’s.  During the roaring twenties Art Deco & Art Nouveau are (1920-1930) platinum was very popular in the U.S.. During the first 40 years of this century, Platinum was the preferred metal for wedding and engagement rings. From 1900 to 2011, approximately 14,200 metric tons of PGEs was produced, and roughly 95 percent of that production took place between 1960 and 2011. About 90 percent of that production came from South Africa and Russia. The secondary supply of platinum, palladium, and rhodium is obtained through the recycling of catalytic converters from end-of-life vehicles, jewelry, and electronic equipment. Recycled platinum, palladium, and rhodium provide a significant proportion of the world’s total supply; these secondary sources are sufficient to close the gap between world mine production and consumption.

  • Because of its rarity, Platinum was declared a strategic material during W W II and could not be used for jewelry, but in 1989 more platinum was used for jewelry than in any other year – – the majority was used in Japan. Japan consumes 100 times more than we do in the U.S. and the Europeans 7 times as much as us.
  • Pure Platinum – like 24k gold – is too soft for hard jewelry ware, so platinum is alloyed with 10% Iridium in the US., copper or cobalt in Europe and palladium in the Far East.
  • Platinum has certain advantages. It is harder for a goldsmith to melt down accidentlly as its melting point is 3,200° vs 1,650° for gold.
  • Platinum is extremely workable and durable, highly resistant to oxidation, will not smudge or tarnish, takes a very high white polish and is hypoallergenic.
  • Platinum also bends and folds without cracking, resists chemical corrosion and has high tensile strength and can "dead set" on larger and /or fragil gemstones.
  • Due to platinums hardness it requires greater force, than if it were gold, during most mechanical processes and several extra steps when finishing. It is also a very poor conductor of heat and has a very high temperature range for soldering which makes it much more difficult to solder.
  • When platinum is scratched the metal moves but when gold is scratched metal is removed.

Terms Used for Platinum and Palladium

JEWELERS PLATINUM: a heavy silver-white metal of 90% platinum and 10% iridium. The iridium acts as a hardening agent. Named by Spanish explorers in Columbia from the word “platina” meaning “silver of little value.”
JEWELERS PALLADIUM: a silver- white metal of 95% palladium and 5% ruthenium. The ruthenium acts as a hardening agent.

Platinum Rings

Platinum Rings

The Value of Gold Bullion

Gold, Precious Metal Prices 10k, 14k, 18k, 20k, 24k, gold karat, karat, purity, purity of gold

How Does its Karat affect Gold’s Value?

March 17, 2021

Gold is Rated by Its Purity

The Value of Gold Bullion

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You may have often heard of the terms 10 karat (10k) or 24 karat (24k) Gold. The higher the karat, the purer the gold. 24 karat is considered pure gold or 99.9% pure. Pure gold, like pure silver is too soft to be used in making most jewelry, gold is often mixed with other metals to give the item strength. The karat value reflects the percent of gold in the the jewelry. 24K gold is considered pure, but 10K is ten parts gold and the rest is a mixture of other metals. Most fine jewelry uses 18K gold or higher. Most yellow gold contains copper & silver.
Most white gold contains nickel, zinc and copper. Gold will never turn a finger or neck dark – it is the alloy mixed with the gold that does the turning. Sometimes it is only temporary due to the person’s internal chemistry from a stressful situation, food or medicine that was recently ingested.

Most of the gold that is fabricated today goes into the manufacture of jewelry, but gold is also an essential industrial metal that performs critical functions in computers, communications equipment, spacecraft, jet aircraft engines, and a host of other products.

What is my gold worth?

Gold, Precious Metal Prices #sellinggold, #sellinggoldjewelry, #spotprices, selling gold, selling gold jewelry, spot prices for gold

Selling Gold? What you need to know

March 10, 2021
What is my gold worth?

Selling Gold? What you need to know… the spot price is not the total price. Unless it is scrap, your gold jewelry may be worth much more!

How do I know if I’m getting a fair deal for my gold, silver or precious metal? 

Why We Can Pay Up to Double the Market Price For Your Gold 

We can often pay up to double the market price for your gold jewelry.  Why? Because we have an extensive network of jewelry dealers throughout the United States and beyond. We evaluate the quality and construction of your items.   Even if your jewelry is damaged or beyond repair, we normally pay about 80% of the going rate for scrap gold. 

 Gold Jewelry May Increase the Price We Pay Substantially. 

 While pure gold prices are listed at market, some jewelry may have a much higher value than the pure weight or karat content (purity). For instance, jewelry by famous designers carries an intrinsic worth that is much higher than the simple weight of the gold. Names that command a higher value are well known names like Tiffany, Cartier, Boucheron. Rarity also increases the price, like pieces by Gérard Sandoz. We must not forget gold watches by Rolex, Van Cleef & Arpels, Cariter and the like. Some of these watches, whether made of gold or not can be extremely valuable based upon age, popularity and rarity. We would love to evaluate your pocket watches or wrist watches for possible purchase. {See the link below for a submission form.} 

 At Bendannie, we are looking to buy scrap gold, jewelry, as well as pure silver, sterling silver, and platinum. We are would be glad to evaluate any of your precious jewelry…

To See What Your Items Are Worth, Click Here to Submit. To See Current Prices for Scrap Precious Metals, Click Here.

SilverJewelry1400

Gold, Platinum, Precious Metal Prices, Silver commodities, hyperbolic chart, reddit, robbinhood, short sale, short squeeze, stock market, trading

The Latest Silver Craze

February 9, 2021
What is silver worth today?

Silver is on a Run

Be very careful of fads and hyperbolic stock market charts. We have seen some hype by RobinHood Traders on Reddit, touting stocks like GameStop and AMC.  These stocks were on institutional hedge fund investors’ radar as stocks to sell short. I.e., they sold stocks they didn’t own in order to buy them back at a lower price and make a profit on the difference. Robinhood traders drove the price from around $5 to almost $500 on Gamestop as individual investors put a squeeze on short-sellers, forcing them to buy the stocks at a higher price than they paid, causing the hedge funds to lose money.   But today, anyone who bought at the top is in trouble and many have lost life savings as the stock has dropped 88% from the high.

There was a rumor going around about the same type of action in silver. The problem with trying to short squeeze silver traders is that there is so much silver around, you can’t corner the market.  That was tried by the Hunt Brothers in the 70’s and 80’s and ended up almost bankrupt.

If you want an idea of a fair price for your silver, please visit us and see what we are currently paying for silver.   And remember, if your silver jewelry is made by a famous maker, it may be worth far more than the spot price.

Quick Click: Fastest way to get your item value now.

Click here to Text.

Quickly Obtain Cash Value by Texting Your Item Picture and Description! Include the Weight of Your Gold
If you Know It.

You May Also Email us at Gold Buyer With a Picture and Description

Just Click This Link 

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