Why Is Platinum Jewelry More Expensive Than Gold?

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We all are well aware of the fact that platinum jewelry is priced high compared to gold. This is because the pricing system of precious metals is done according to their weight. Platinum is a denser metal, which weighs heavier than gold and hence the price. Not just the weight, platinum metal is rare, which is why it is more expensive than gold. For example, the amount of golf mines every year is 1500 tonnes while the amount of platinum mines is just 160 tonnes. 

The sheer purity of platinum jewelry is made of 90-95% platinum. Because of this very reason, the density of this jewelry is more, which in turn increases its durability compared to gold. All these reasons equally contribute to the spot price of platinum. But on the other hand, 14k gold jewelry has only 58.5% composition of gold in it. The price difference points out the number of rare metals required. Many people believe that platinum is ideal for special occasions such as engagements or weddings. 

White gold and platinum, how to tell the difference?

One of the significant factors that differentiate these two metals is their price. Platinum is on the pricey side compared to white gold. But platinum is not a must-have; if you are looking for durable daily wear, you can go for 14k or 18k white gold, which will do the job. 

Even though platinum is more durable when compared to gold, this metal is soft, and there is a high chance of getting scratches. But the interesting fact is that the scratches on platinum jewelry give them an antique touch, and many customers love how it looks. The everyday wear and tear for jewelry made with white gold will be visible more than platinum as the jewelry will return to its original yellow color. Once in a year, cleaning could limit these problems to a greater extent. Most jewelers offer a free clean every year, which restores the beauty of the jewelry. 

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One of the significant advantages of using platinum jewelry over white gold is that they don’t contain nickel. Some people are allergic to nickel and can develop irritation. These irritations are common among people using gold rings as they contain. Both look equally beautiful when it comes to appearance, and it is hard to identify which is what. Both platinum and white gold are precious metals and look beautiful on anybody. 

The price of platinum compared to white gold

The price of platinum and gold in grams have not much different. But because of the high density, the amount required to make the jewelry is more. In Russia and South Africa, the availability of platinum is thirty times lesser than gold which is the primary reason the metal is a little more expensive. So if you are planning to get a platinum ring for your loved one as a birthday present or as an engagement ring, the jewelry generally costs two to four times that of gold. 

Pros and cons of platinum rings 

Even though platinum metal is not affordable to everyone, people still buy them. Here is a list of reasons why platinum is one of the best precious metals. 

 

  • Increases the diamond’s sparkle 

 

Platinum metal is a silver or white-colored metal, while gold is yellow. The natural white or silver finish of platinum enhances the sparkle of any gemstone and adds to its overall beauty. 

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  • Strong and durable 

 

As mentioned earlier, platinum metal is dense, and more is needed to make a ring. This means that the rings are highly durable and will probably last you a lifetime. In addition, any minor damage or scratch will not be visible with naked eyes because of its naturally white sheen. 

 

  • Ideal for those who are allergic to nickel 

 

When you wear the ring, nickel allergy can leave red blotches on the skin, and it might feel itchy around your finger. Therefore, it is best for those allergic to nickel to choose platinum as there are zero traces of nickel. 

Conclusion

The only downside is that they are a little more expensive. But with all the benefits it offers, platinum jewelry is worth every penny you spend, and looks absolutely fascinating!

Disclaimer: This content does not necessarily represent the views of IWB.

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