Being on the top and standing out amongst the crowd is what businesses in today’s world aim for. Understandably, the business environment and the level of competition the businesses face today is really unprecedented and truly cut-throat, where everyone is eying for the limelight and to be the best at what they do. These businesses are continuously vying for the power, and they are continuously improving themselves by making their products better to stay at the top, and one such product that has come up is platinum.
Platinum is one of the rarest metals on earth, and it has become a sign of exclusivity, power, prestige, and class. It is all that and much more. Initially discovered by the South Americans living near Mexico in the 17th century, it has come a long way from first being used as a substitute for gold made artifacts and utensils. Its commercial use began in the 19th century when more and more platinum mines were discovered. This precious metal changed the business dynamics and the market once people became aware of how useful it was. Currently, there are many different kinds and varieties of available depending upon the purity level so,
If you are out there first time shopping for Platinum, you will see different qualities and different available brands. And knowing how confused you will be, these are the qualities that you need to look for when you are out there buying platinum
-
Table of Contents
Purity Levels:
If you are out planning to buy a diamond-infused platinum ring for a special occasion, then before you set out to purchase it, the very first thing you should check is its purity level.
Platinum is one strong and durable metal which on its own has no color. This means that if your platinum ring or platinum bar has a high level of purity that is above 95%, then it should not cast any color of its own whether you are wearing it with a diamond-infused ring or not. Another important thing to know when you are buying out platinum is that it never fades or tarnishes away. Meaning that if you are investing in a platinum bar or a ring, then it is good to know that it will stay with you for over a lifetime
-
It is Everlasting:
We all have heard the phrase that “A diamond is forever” but so is platinum. It is one of those metals which would exist over and beyond your lifetime. It is everlasting, and its durability is unchallenged. Furthermore, it does not get affected by rust or wear and tear, meaning that if you have jewelry or any other valuable item made in platinum, then there is a high chance that it would stay protected throughout your lifetime and that it would not lose either its shape, color or any of the precious metals which it secures. These kinds of properties are what make platinum the perfect metal to be used in jewelry as its qualities offer far more protection and security which other metals used in jewelry do not.
-
Rarity:
Every good thing in this world is rare, and this is no different in the case of Platinum as well. Platinum is one of the rarest metals found on this earth, and it happens to be even rarer than gold, diamond or silver combined. Its supply is so short and rare that all of the platinum ever mined could fit into your living room. And because of this, its market size is very limited, and the stakeholders who deal with Platinum never really got the chance to expand their market share. It is mostly used in industrial purposes as the consumer market cannot be satisfied because of its limited supply. And this is one of the reasons why platinum even with all its benefits is not widely used for manufacturing of jewelry and the ones that are used happens to be only available to a niche and an exclusive market segment
-
Versatile Uses:
It is a shame that a metal that is so versatile and so durable happens to be in such limited quantity and its uses are mostly governed by the limited and restricted quantity that is available to suppliers. Getting on about its uses, it is important to know that Platinum is widely used in the industries especially in the automotive industry where it is used as an alloy to act as a catalytic converter so that it can facilitate combustion. Furthermore, it is also used in resistance wires, especially the heavy-duty ones who need durability and to withstand against high temperatures. It is also used in the making of strong permanent industrial magnets.
Moreover, it has limited commercial uses as well. It is used in the dental industry and dental work. Secondly, Platinum embedded jewelry and decoration piece is considered a fortune and are used by a niche market segment to showcase their wealth and power.
-
Hallmarked:
One thing that sets Platinum apart from other metals such as gold or silver is that if you are buying sizeable quantities of platinum whether, in jewelry or a form of bar, it will always be hallmarked. This hallmark acts as an identity and works in a way to its purity level and will distinguish it apart from other metals. Furthermore, creating platinum embedded jewelry requires a much-sophisticated level of complex work as well as a much higher level of craftsmanship. And to distinguish their work and set it apart from competitors, sometimes the craftsmen do add their signatures to it so that they can maintain their unique identity and piece of work.
Another important fact to know is that whenever you are buying out platinum, it will be not only heavier but only most expensive than regular gold. Since platinum is much denser metal so any identical ring or bar made in platinum would approximately be 40% heavier and that is not all, platinum’s rarity means that the market forces would shift the price of platinum to be invariably be much higher than that of its counterpart
Conclusion:
Platinum is one of the finest metals that we have ever discovered. It has a variety of uses in different sectors, and it happens to extremely popular metal for jewelry. It is not only resilient, elegant and durable but does not tarnishes and fades away as well. It lasts for a lifetime, and if that is not all, its prices are more volatile and fluctuating than gold as well, which means, that it can act as an attractive option to investors who are willing to make quick bucks within a short time.
