Platinum (950)
Precious metal · per troy oz
Characteristics
Platinum is denser and rarer than gold, historically commanding higher prices. Used in high-end jewelry, particularly engagement rings. Its natural white color doesn't require rhodium plating like white gold.
Price by Grade
Jewelry Metal Value Reference
Estimated melt value of common jewelry pieces based on typical weights.
| Jewelry Type | Typical Weight | 950 Platinum | 900 Platinum |
|---|---|---|---|
| Thin Ring | 2g | $60 | $57 |
| Standard Ring | 4g | $121 | $115 |
| Heavy Ring | 8g | $242 | $229 |
| Pendant | 3g | $91 | $86 |
| Chain (18") | 10g | $302 | $287 |
| Bracelet | 15g | $454 | $430 |
| Earrings (pair) | 3g | $91 | $86 |
Value Drivers
950 Pt is standard for jewelry (95% pure). Higher purity than gold jewelry.
Platinum is 60% denser than gold — same size ring weighs significantly more.
Harder to work than gold, requiring specialist skills. Labor costs higher.
Platinum develops a patina over time. Can be polished back to high shine.
Market Dynamics
Annual mine production ~190 tonnes. South Africa produces ~70%. Extremely concentrated supply.
Automotive catalytic converters (~40%), jewelry (~30%), industrial (~20%), investment (~10%).