That is because it is non-toxic and does not react negatively to bodily tissues. Three StoneFeaturing a center stone and two side stones, the three stone engagement ring design represents a couple’s past, present and future. On May 19, 2008, platinum traded to a modern-day high of $2,182 per ounce.
Bullion and bullion coins are bulk quantities of platinum, gold, or other precious metals. You can buy bullion from coin dealers, brokerage firms, precious metal dealers, and some banks. Platinum and gold tend to move in the same direction, along with other precious metals. There are a few other small differences between white gold and yellow gold.
What’s the difference between white gold and platinum?
Gold will need to be re-polished and re-plated, but generally not as often as platinum. A lot of celebrities opt for white metal engagement rings as they look classy and timeless. A naturally white metal, platinum is typically utilized in a nearly pure form for jewelry—ranging from 95-98%. Platinum looks almost identical to white gold and will remain looking the same for many years as long as they are both maintained and cared for properly. It is crucial that you prepare the proper storage for your precious metals to avoid any repair costs or indefinitely ruining your item.
Diamond Prices: A Complete Guide
For example, here is a stunning halo setting for $1,535 from Blue Nile in white gold. The platinum version of the ring costs $400 more, which eats into your budget for the center diamond. Even this white gold setting with 0.9 Carat Round Cut Diamond from James Allen costs 44% less than the setting on this 0.9 Carat Round Cut in a platinum ring. While you can spend more by choosing platinum, your money is better spent on an ideal diamond cut or increased carat weight. To learn more about the price differences between white gold and platinum, contact us. White gold is an alloy composed of pure gold and durable metals such zinc, nickel, and copper — giving it strength and its whiter color.
The debate between platinum and gold has long fascinated investors, jewelers, and consumers alike. These precious metals have been symbols of wealth and status throughout history, each possessing unique qualities that set them apart. Alternatively, yellow and rose gold show distinct colors when compared to platinum and white gold.
For more insights into platinum’s market dynamics, see Latest Platinum Market Insights. If you don’t want to invest directly in commodities like gold and platinum, you can invest in companies that operate in the space. For example, miners can provide some level of exposure to the commodities mined by the companies. Here are factors to consider when it comes to investing in gold vs. platinum. Before you buy a diamond, get personal buying advice from industry veterans. This email will go to our contact at Abe Mor who has helped thousands of our readers sell their gold and diamond jewelry.
Platinum jewelry has long been more expensive that gold jewelry, as platinum was always more expensive than gold. But even with platinum’s price decreasing, the premiums paid versus the metal content of gold or platinum jewelry make jewelry a less than ideal investment asset. But rhodium fades over time, requiring white gold rings to be replaced, whereas platinum rings maintain their gleam for longer periods of time.
About 35% of current platinum demand comes from the automotive industry, 20-25% each comes from jewelry demand and other industrial demand, and about 15% comes from investment demand. Platinum is a chemical element, precious metal, and commodity that manufacturers use primarily for jewelry, electronics, and automobiles. It appears on the periodic table of elements by the symbol Pt and atomic number 78. Platinum futures are commodities contracts traded on the CME’s COMEX futures exchange (under symbol PL) and the Tokyo Commodity Exchange. It is also possible to invest in platinum by purchasing shares of an exchange-traded fund that specializes in the commodity. The most important futures exchanges for platinum are the NYMEX division of CME Group in New York and the Tokyo Commodity Exchange.
Platinum vs. White Gold Jewelry Guide
The price of white gold rings ranges from $180 for a simple solitaire to $2,500 for an intricate vintage ring setting. The cost depends on the vendor, the amount of white gold used and your ring’s design. If you’re reselling your setting, in general, you’ll get 50 cents for every dollar of scrap metal. Brendan Callen is the author and mind behind BluehillResearch.com. While he is deeply passionate about precious metals investing, he is not a licensed financial advisor. His writings and advice are born out of personal experience and extensive research, and should be considered as informational guidance rather than professional financial advice.
Chapter 2: Gold IRA Rules to Know Before Investing
It is a great gift for a loved one or a special treat to yourself. Platinum offers more value if you are looking for a rare material, but Gold is more profitable as it comes in larger amounts. However, the choice between Gold and Platinum will come down to your unique portfolio, or collection, and deciding what item you are looking to invest in. Investors can also invest in gold or platinum through a gold IRA or platinum IRA. That allows them which is costly gold or platinum the same tax-advantaged status as conventional IRAs. Investors can even roll over assets from existing retirement accounts into a gold or platinum IRA.
Recycling gold from used electronics also contributes to the gold supply, which is crucial for a metal that is in demand not only from investors but also from industry. Many people may be familiar with platinum’s use in rings, particularly wedding bands. But platinum in an industrial context is used to construct catalytic converters, the primary industrial use for platinum.
Gold also trades on the over-the-counter market as well as in physical markets around the world. Platinum usually traded at a higher price than gold from 1987 until September 2008. Since 2011, the price of gold has exceeded the price of platinum. As of June 7, 2021, gold was trading at $1,897 an ounce compared to $1,175 an ounce for platinum.
- As well as this, when PVC is exposed to light and heat it will produce hydrochloric acid and this destroys your coins.
- That allows them the same tax-advantaged status as conventional IRAs.
- You are encouraged to talk to your financial advisor before making any investment decision.
- Once you invest in a product as valuable as Gold or Platinum, you will need to make sure that you maintain the quality and keep the material damage-free.
- Depending on what forms of gold and platinum you plan to invest in and what investment vehicles you plan to use, you may find that influences your investment decisions and strategy.
- Both 14K and 18K white gold are durable enough for everyday wear, so platinum jewelry isn’t necessary.
All three golds have a lustrous, pinkish tone, like in this rose gold hidden halo ring from Blue Nile. While similar in appearance, there are key differences between platinum and white gold. White gold consists more of a mixture of durable metals like nickel, zinc, and copper. Platinum is naturally white and less malleable with 95-98% platinum composition. Since more platinum is needed to make a ring, the price tends to be 40-50% more than white gold.
