Post updated: Oct 9, 2020
Many people think that platinum and white gold are the same thing. But this statement is erroneous, because the first is a noble and expensive metal, standing apart from gold. For some time after its discovery, platinum was neglected, but scientific research helped discover new properties of the metal, which gave impetus to its use in jewelry. Outwardly, it resembles silver, but has better performance and properties, even the minimum standard of platinum is quite high, at least 850.
Externally, the material looks like a white-gray metal with a characteristic shine. It is usually mined in the form of ore or nugget. Platinum is rightfully considered the most durable of the precious metals, due to its high density.
Platinum has useful properties:
- It is difficult to damage;
- It has high anti-corrosion properties;
- High temperature threshold for melting;
- Resistant to chemical influences;
Platinum samples
Decorations and jewelry are not made from completely pure metal. In production, an alloy is used - additional metals that dilute the pure material in order to obtain the necessary properties for the entire alloy. Platinum samples are marked on the finished product, which indicate how much pure metal is in the alloy, but for your own confidence you need to know what they are.
As mentioned above, in its pure form this raw material looks like a gray-white plastic metal. It does not dissolve in any acids or alkaline compounds, with the only exception being “royal vodka”. Such products shine perfectly, and to achieve maximum reliability and strength, platinum is also diluted with copper, rhodium, gallium, rhenium, rhodium, tungsten, and the samples of products depend on their share. To further improve the properties, additive components can also be included in the alloy: copper, iridium, gold, etc.
As with gold hallmarks, platinum also has three hallmark options depending on the platinum alloys. The spool sampling system was initially used in Russia, and after 1927 it was replaced by the metric one. In the USA, the carat test has always been used, but if desired, the indicators of any of the systems can be converted to another. For example, the 950th standard will correspond to the 91st in the spool system and the 22nd in the karat system.
Characteristics
Its main advantage is its refractoriness and hardness, while it is capable of crystallizing into cubic lattices. Preheated platinum can be rolled and welded. This element is capable of absorbing some gases.
Main characteristics:
- Density – 21.45 g/dm3.
- Grayish-white color.
- Atomic radius is 0.138 nm.
- The melting point of platinum is more than -1769C.
- Specific heat capacity – 25.9 J.
- Boiling point – 4590C.
Standard platinum samples of Russia
According to the legal standard of the Russian Federation, it is customary to use 850, 900 and 950 samples of platinum. The platinum sample, designated 950, contains 95% metal. This is the most popular metal sample and is used for making jewelry.
The 900th contains 90% metal. This platinum sample is used somewhat less frequently than 950, but high-quality and sought-after jewelry is also made from it. Its disadvantage is less shine and brightness of the white color.
The 850-grade material contains 85% pure raw materials. It is practically not used for the production of jewelry, because its properties are much worse than those of higher standards - the products turn out duller and more “silver”. There is no 875 standard for this metal, no matter how platinum with such a content is advertised.
Types of marks on platinum products in Russia.
Platinum alloys serve as materials for the manufacture of various products: necklaces, earrings, rings. It is considered the best alloy for preserving precious stones, because it holds them very tenaciously. The properties of the alloy with its content also depend on the alloy. For example, copper in an alloy gives it softness and elasticity, and also gives a lower melting temperature. Cobalt further improves mechanical properties, while iridium and tungsten increase the service life of finished products. The purity of platinum is usually indicated on finished jewelry, so you can always see what percentage of pure material your piece contains.
A foreign version of the stamp with hallmark.
So, platinum is the most durable and at the same time rare precious metal in the world. The most expensive jewelry in the world is created from platinum alloys, and it is also the best setting for precious stones, because its color perfectly emphasizes the dignity and beauty of diamonds. This material is also used in industry due to its high density and, as a result, excellent hardness.
Platinum is very difficult to purchase on the precious metals market, because demand many times exceeds supply, and this is justified, because to extract just one ounce of platinum (31 grams) it is necessary to process about ten tons of ore.
It is also used in medicine and high technology, because its properties are unique and are not repeated in any other metal. A unique metal is the key to the best products of high standard; it is this fact that allows platinum to be called the queen of all metals.
Features and properties of the material
If we compare platinum with silver and gold, then it can be called a newcomer among precious metals. It was found in the 16th century on the Iberian Peninsula. In the process of mining gold, seekers sometimes found metal unknown to them. They tried to process it, but all attempts ended in failure due to the hardness and strength of platinum. This became the reason to equate the precious metal with the lowest-grade alloys. Over time, this error was corrected and now the cost of this metal is 3 times higher than the cost of gold.
Platinum is characterized by a high density - 21.5 g/cm3. The metal is also very hard, so it is difficult to deform. This allows you to create jewelry of different shapes, sizes, and with various decorative elements.
In jewelry, platinum is used in almost pure form without adding significant amounts of impurities of other metals. That is why the material remains just as pure, without losing its natural color. Platinum jewelry attracts with its nobility and beauty with a unique steel shine.
Assay marks for platinum
History of platinum
Researchers were able to prove that the ancient Egyptians used platinum alloys to create jewelry. The Incas also used it for their own purposes, but then people forgot it and did not use it as a raw material in their work.
In modern history, platinum was discovered by the Spaniards who visited South America. During the process of mining gold, a metal that looked like silver was found. After experiments, it was recognized as refractory and unnecessary for production, which is why the price was half that of silver.
The situation changed a little when platinum was discovered to be mixed with gold. Unscrupulous jewelers began to create gold jewelry with an admixture of white metal and pass it off as purely gold. After some time, this scam was exposed, the king banned the import of raw materials to Spain, and all available metal was drowned in the ocean.
At the end of the 18th century, platinum began to be widely used in jewelry, and King Louis XVI even called it the only royal metal. At the beginning of the 18th century, placers of raw materials were found in Russia, but for a long time, Ural hunters used its grains as shot for weapons.
In the 19th century, 95% of all platinum mined was Russian, and the first products made from it were presented personally to Alexander I.
Gold forecast: factors that will move the market in the coming weeks
Before we dive into the gold forecast for 2022, we want to quickly summarize the latest trends that could impact the value of the metal in the future.
It's no secret that gold prices tend to benefit from increasing uncertainty, whether in the economic or political arena. This year was no exception. To hedge their portfolios, investors have turned to the metal, adding it to their holdings in all shapes and forms, from gold coins and bars to gold stocks and exchange-traded funds, pushing the value higher and higher.
Among many issues, inflation has emerged as one of the market's worst concerns in 2022. As governments around the world scrambled to undo the damage caused by Covid-19, trillions of dollars were pumped into the global economy through fiscal stimulus and quantitative easing. McKinsey research
, this year's stimulus has already exceeded the measures taken during the global crisis of 2008-2009.
During monetary easing, investors tend to switch from the US dollar to gold as a hedge against inflation, which also increases the value of the precious metal.
Another important factor that will determine gold prices in the future, at least in the short term, is the coronavirus itself. The second wave has already hit the world, the number of cases is growing every day, and many countries are reinstating quarantine; this in turn has a negative impact on an already struggling economy. If governments decide on a fresh dose of fiscal and monetary stimulus, the yellow metal could continue to be a big beneficiary of the Covid-19 crisis.
So, will gold rise? Well, if the global economy continues to stagnate due to the pandemic and rising geopolitical tensions have already disrupted international trade, we could see the price of gold rise higher and even break its previous records.
Now let's move on to analysts' forecasts for 2022.
Interesting about platinum
Throughout its history, this metal has acquired interesting and curious facts.
Platinum is found 30 times less frequently than gold; to extract just 31 grams, more than 10 tons of ore must be processed. Now the difference between the cost of platinum and gold is about $270, and there were periods when it cost $1000 more than gold.
The jewelry uses an almost pure version of iron, without many impurities, as, for example, in the case of gold and silver, which ensures a consistently high standard of platinum in any jewelry.
Platinum has a higher density and therefore the same products made of gold and platinum will have different weights. The color is reminiscent of white gold, but these are completely different things, because platinum is an independent noble metal, and white gold is an alloy of gold with silver, palladium or nickel.
Metal never served as a material for making money; some mint houses minted such coins, but they were intended for private collections and not for everyday use. At the moment, the demand for rare metal is much higher than the supply level.
The most commonly used is 950, the highest standard (for jewelry) of platinum, and South Africa produces the most raw materials.
Conclusions: is investing in gold safe?
So, will the price of gold rise in 2022? No one has a crystal ball to answer this question, however, most forecasts currently point to continued strong performance for the metal in 2022. While current gold price forecasts may be generally optimistic, it is important to remember that global financial markets remain highly volatile. Therefore, it is quite difficult to predict what the price of gold will be in a few hours, much less give long-term estimates. We recommend considering the latest market trends and news, technical analysis and analyst forecasts before making any investment decisions.
Posted by Valerie Medleva for Capital November 18, 2022 | Translation: Gold Reserve
Where is platinum used?
When most people think of platinum, they immediately think of jewelry. But besides the jewelry industry, it is widely used in other areas. It all depends on the purity of a particular platinum sample.
For example, in medicine, platinum-iridium electrodes are widely used to work the heart of patients with angina pectoris. Oncology uses special platinum alloys to shrink tumors. It is also an excellent metal option for medical use due to its hypoallergenic properties.
In Russia, it is used to make “standards” of various masses, for example, the standard of a kilogram is a cylinder made of an alloy of platinum and iridium. It is also used in mirrors in everyday life. A mirror, one side of which is transparent and the other is specular, can only be made by spraying from this material.
