Platinum info please

[Yeasty]

Today, at a Delaware beach, I found a really nice man's platinum wedding band, weighing in at 12.06g. It's a real honker. My question is: Is there a carat system (percentage) for platinum like there is for gold jewelry? This particular ring is marked on the inside of the band as only "PLAT", without any other markings. Is there, with this marking, an assumed percentage of pure platinum? HEH, I am hesitating posting on "Today's Finds" and "Best Finds" until I find out more! Any information would be really helpful.

Pete

 

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[jim4silver]

Yeasty,

I don't know anything about Platinum (other than the fact that it is worth a bit of ($$$). If you have a coin dealer in your area you trust, take it to him for testing. They have kits where they can find out right away if it is legit and what the purity is (at least that is how they do it with gold). I imagine if your ring is real Platinum, it is going to be worth quite a bit due to Platinum's high value now.

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Jim

 

[billjustbill]

When vacationing in Ft. Myers, Florida, I was beach hunting. I found a Platinum and 18kt gold band. There is a narrower Platinum inlayed in the 18kt band. Stamped inside the band is "Platinum 99.5 Gold 18kt." I'm guessing that true Platinum is 99.5 pure.

Now, with the metal prices going up so fast, I'm wondering how to determine it's worth because of its design.

Bill

 

[Yeasty]

I took the ring to a coin dealer and he verified that, in fact, it's platinum. He made an offer which was a couple hundred bucks under melt value and I declined. I've decided to hold on to it for a while. Platinum has a nice warm feel to it. Much nicer than gold!
Since it's a find of a lifetime I might hold on to it for a while.

 

[billjustbill]

Yeasty,

You've got my curiosity up.... What size ring would you say it is, gram weight, and what is "melt value"?

Thanks,
Bill

 

[AMorgan]

Platinum is most commonly marked PT 950 (95 percent platimum) or PT 900 (90 percent platinum)

I have never seen 995 platinum, but that doesn't mean it does not exist.

Pardon my triple negative.

Alan

 

[Yeasty]

Inside the ring was stamped simply "PLAT". As far as it's gram weight, it weighed in @ 12 grams, which that day, equalled $800 (melt value). It's authinticity was verified by a coin shop. The melt value can be found here: http://dendritics.com/scales/metal-calc.asp. That, of course, does not include any salvager's charge. BTW, I dont plan to sell the ring. At least right now.

Pete

 

[jewelerdave]

There are quite a few Plat Alloys out there depending, most is 950 or .900, and some is .585.

Refining platinum is expensive. Most small refiners and jewelers just melt it down to cast into a new piece, or fix it to sell again, you can melt it over and over with out refining in most cases.

First thing to get out of ones head is you will never be bale to see melt value out of something, unless your selling to someone who is going to use it as a wedding band.
Premiums are only paid on things that are new, or made to be new again.

I see time and time again people who sell scrap iron, scrap Al Cans or copper for half of melt value or less, but when it comes to gold or silver or platinum, they think they somehow can get melt? Fortunately there are suckers out there.

If you want to get top dollar put it on ebay, there are plenty of suckers out there that will pay close to melt just because they dont know, they dont know the alloys, they dont know squat. but they might get rich off it so they buy. If you have just one piece and you found it and want top dollar, Sell it too a sucker rather than a professional. This will get you more, and it becomes the suckers problem on...how to get rich of what he just over paid for.

thats my advice.

 

[KG4LHO]

I recently purchased a 11.33g PT950 Platinum band off of eBay. Paid $350 for it and it retails for $1250 or melts for $800. I think I did pretty good. I bought it to wear not melt. There are some deals out there for buyers but apparently not sellers. Wes