our Sell Platinum: Facts from Platinum Buyers
As San Diego’s #1 platinum buyer, we here at San Diego Jewelry Buyers love all things platinum. Those who own platinum or want to sell platinum to a local buyer might find the following facts about platinum interesting.
1) In 2005, luxury watchmaker Vacheron Constantin auctioned a platinum watch for $374,000 to mark its 250th anniversary.
2) More than 30% of all platinum supplied to international markets each year is used in catalytic converters to control harmful automobile emissions.
3) Platinum has historically tended to be more expensive than gold because it is rarer and has a wider range of irreplaceable applications.
4) The U.S. government declared platinum a strategic metal at the onset of World War II, and forbade its use in non-military applications, including jewelry.
5) Gasoline, fiber-optic cables, anti-cancer drugs, fertilizers, eyeglasses, explosives, paints, and pacemakers all rely on platinum.
6) Japan is the greatest consumer of platinum fine jewelry—while China is number 1 in total platinum consumption.
7) The Merensky Reef in South Africa produces about 75% of the world’s supply of platinum.
8) Ten tons of platinum ore must be excavated to yield a single ounce of pure platinum. Only three tons of gold ore are excavated to yield the same amount.
9) If the jewelry is marked with the word Platinum, it must be at least 95% pure by law.
10) Approximately 160 tons of platinum are mined every year versus 1,500 tons of gold.
For information on how you can sell platinum for cash today, contact San Diego Jewelry Buyers for a free, no hassle, appraisal.
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