A Smart Guide to Selling Your Platinum

What Is Platinum?

The chemical symbol for platinum is Pt. It is a precious metal that is dense, malleable, and highly resistant to corrosion and does not oxidize at any temperature which means it never tarnishes. It has a silvery-white sheen and is extremely rare which in some regards makes it more valuable than gold. Platinum is stronger than gold and due to its non-corrosive nature it is often used for ship building, pipelines and steel structures such as bridges and piers. It is also widely manufactured into silicone and is often used in medical implants.

Fun Facts about Platinum:

• The name platinum comes from a Spanish term and its literal translation means little silver of the Pinto River.
• King Louis XV declared platinum the only metal fit for a king.
• Platinum is used for products that are subjected to high temperatures for long periods of time such as coating for missiles and jet engine fuel nozzles.
• In 1920 platinum was worth 8 times the amount of gold.

Selling Your Platinum:

As always when dealing with a precious metals there are some important choices to be made before selling your platinum. When the economy is stable and showing signs of growth, the price of platinum can go as high as to be twice the price of gold. However when the economy is weak platinum tends to fall below the price of gold. Being aware of the current market price of platinum is the first step to selling your platinum successfully. Most dealers will simply pay the market value and then go on to refine it. Before selling your platinum it is always a good idea to get all the facts.

Important Things to Remember When Selling Your Platinum:

• Selling platinum coins is easier than selling your platinum jewelry because the quality and quantity of pure platinum coins is already guaranteed. As a result the process of selling platinum coins is simple and dealers around the world will most likely be willing to pay top dollar for the coins.  It is also a good idea to make sure the platinum coins for sale are not rare and do not have a higher value to collectors or historians than the current smelting or refining value.

• Selling platinum bars is also relatively easy because the platinum content of a bar can be turned into platinum jewelry. While platinum coins already have a specific amount of platinum guaranteed, they also will vary in the amount of actual smelting value.

• Selling platinum jewelry is the most difficult way to get the full value of your platinum. It helps when the economic conditions are good and there is a high industrial demand for platinum.  When the current market for platinum is high and dealers are more likely to pay higher prices. To get the best deal when you are selling your platinum it is important to know what buyers are looking for. Platinum jewelry is typically only worth its smelting or refining value. One exception to this rule is if the platinum jewelry is antique or made by a famous designer.

Before selling your platinum it is wise to research the current platinum prices. It is important to choose a dealer who will pay you what your platinum is worth. Knowing what a buyer is looking for is one way to be assured of getting the best deal when selling your platinum.

At David Levis and Sons Jewelry Buyers we believe in getting you the best price for your platinum. We are the premier Jewelry Buyers in San Diego and pay more than anyone else for your gold, silver, platinum, diamonds, jewelry, watches and coins.  Contact us now to schedule an appointment or call us at (619) 238-9100.