Platinum is a precious metal that is used in a wide range of products, especially items of jewelry such as chains, earrings, bracelets, pendants and rings. Here we take a closer look at the most precious metal of them all.

Historical Use

It is believed that platinum was first used by the South American Indians, just before the turn of the 15^th century. They developed a technique that involved sintering the metal (heating it below its melting point) to produce various artifacts, such as ingots, though were unable to melt it. When the Spanish conquered South America and discovered the substance they initially regarded it as worthless.

Value of Platinum

How times have changed! The value of platinum fluctuates depending on market forces, but is currently trading at around $1,350 per ounce - considerably more than gold, and dozens of times the price of silver.

As with most gems and metals, the rarity of platinum is what makes it so valuable. It is found in just a few locations around the globe, and is around 30 times rarer than gold. This level of exclusivity means an individual who is wearing an item of platinum jewelry is really making a statement about who they are, and displaying that they really appreciate the finer things in life.

Platinum Properties

Platinum has many qualities which make it the most expensive and revered metal. The first thing to note with platinum is that it is extremely pure - usually 95%, as opposed to the 75% purity level of gold. The way to discover the purity of an item of platinum jewelry is to look for the stamping mark inside the piece. It is listed as parts per thousand, so 1000 parts equals 100%. 95% and 90% are by far the most common, with the remaining alloys often being any combination of copper, palladium, tungsten, iridium, cobalt, or various other metals. This high level of purity means that even those with sensitive skin will not be troubled by the metal.

Platinum is also naturally white in color, and does not fade or tarnish over time, unlike silver. This makes it an extremely durable and hard-wearing metal that is ideal for heavier items of jewelry. As the metal is so tough it will hold gemstones firmly in place, and these items will then essentially be protected for a lifetime of wear.

Use in Jewelry

Although platinum has had many uses over the years, it was only first used in jewelry in the mid-nineteenth century, and then only widely used from the 1920’s onwards, becoming popular with the Art Deco movement of the time. It is worth noting, however, that hallmarking only became a legal requirement in 1975, so platinum jewelry made before this time can be of variable purity.

Qualities such as those listed above, coupled with the exclusivity of the metal have made platinum the metal of choice for top designers such as Cartier and Faberge.