About Platinum Metals

Ever since the momentous day that some ancient caveman, his name now lost to history, stumbled upon his first bronze nugget and used it to make himself a bronze-tipped spear for the upcoming wooly-mammoth hunt, precious metals have been an important strut in the architecture of our society. Perhaps it can also be said that, in part because exclusivity has always been luxury’s middle name, platinum is the bronze-tipped spear of today’s precious metals market. Platinum is a very rare and expensive precious metal, which helps in creating a perception of exclusiveness.

Industrial applications of the rare metal also add to the perception of platinum in the fine jewelry market as one of innovation and modernity. This unique connotation, perhaps, accounts for the strong market trend of consumers who wish to use this precious metal instead of the more traditional gold. Platinum represents ideals of longevity, purity, and elegance when used in jewelry, which is why millions choose to see it as a very romantic gesture when used for engagement rings and wedding bands.

Market value for platinum, as for most precious metals, is on the rise, and we at Cash4Gold can provide a mutually beneficial service to our clients by giving them an excellent opportunity to market their scrap precious metals. In this difficult economic climate, extra money earned by disposing of unwanted precious metal components can come in very handy. We seek to provide you with this service because we are able to refine metals to be bought and sold at market rates.

We at Cash4Gold are always pleased to inform and educate our customers about the platinum refining process because we want you to know that you are doing business with an organization that delivers a quality customer experience.

Many of today’s platinum mines exist in South Africa and Russia, but the first mines were dug in Africa and South America, where the metal has been extracted since long before Europeans first adventured on those continents. In fact, the coffin of an ancient Egyptian High Priestess has been discovered, decorated with platinum hieroglyphs whose polish and luster were still perfect after 2500 years, giving dramatic proof of platinum’s incomparable resilience and vitality. One of the first references to platinum to be found in European writings was authored by a gentleman named Julius Caesar Salinger, who lived from 1484 to 1558 CE. His writings made an offhand mention of the strange new metal that had been found in various mines from Panama to modern-day Mexico, because it was “impossible to melt by any of the Spanish arts.” The Spaniards named the new metal “platina” (“little silver”) when they first discovered it in present-day Columbia. Amazingly enough, platinum was at first seen as a nuisance, merely a disposable byproduct of the silver refinement process. However, as its heat-resistant properties and its gorgeous complement to precious stones came to be more widely recognized, platinum came to be celebrated in its own right for both its beauty and industrial value.

Platinum soon came to exceed silver in value because of its heat-resistant properties, and because, unlike silver, it is impervious to tarnishing. The normal wear and tear that would, over time, destroy a piece of fine silver jewelry, would leave an equivalent piece of platinum jewelry untouched.

The same properties that make platinum valuable as ornamentation also make it well-suited for many industrial applications. The fine metal has outstanding catalytic properties, is resistant to chemical processes that would destroy weaker metals, is able to absorb great amounts of heat without breaking down, and is a very stable electrical conduit.

Although platinum is only found rarely in its natural state, fairly pure traces of platinum can be unearthed in alluvial and placer deposits in Columbia, Ontario, and the Ural Mountains. Since these deposits are small and difficult to reach, however, large platinum refiners have turned to ore extraction as the primary method of bringing platinum to the commercial market. Since the same ore used to produce, for instance, nickel, can also contain trace amounts of platinum, refiners are able to continue the extraction process after nickel has been extracted and go on to extract other metals by using differences in the metals’ chemical reactivity and solubility to separate them.

Platinum Refining Process

Technicians in the platinum refining process use the anode residue (or by-product) of nickel or gold ore extraction as a starting product. A platinum refiner begins by dissolving the metals in aqua regia, or nitro-hydrochloric acid, a highly corrosive solvent only resisted by extremely strong metals, such as titanium. The chemical reactions involved in extracting platinum by the use of aqua regia are highly complex, initially producing a mixture of chloroplatinous acid (H2PtCl4) and nitrosoplatinic chloride ((NO)2PtCl4). In order for full dissolution of all platinum to be achieved, repeated extractions of the residual nitrosoplatinic chloride solids with concentrated hydrochloric acid must be performed. The desired final chemical compounds are ultimately reduced to their elemental state using hydrogen.

In the process of refining the metal to be used in the making of fine jewelry, platinum is usually alloyed with five percent iridium or ruthenium. The melt value, or intrinsic value, of the platinum jewelry you submit to Cash4Gold is determined by a state-of-the art process that establishes the exact weight of pure platinum contained in the items. Please keep in mind that, due to the fact that we are buying the precious metal content (i.e., pure gold or platinum) of your scrap metals only, the final weight of precious metal content determined within the scrap metal will likely be different from the actual weight of the jewelry you submit because all alloy content will be separated from the precious metal itself.

After exacting scientific evaluations of the purity and weight of the metals you have submitted, we calculate the market value for your precious metals and send off your check! It really is that easy, and there is just no simpler way to obtain market value for your valuable precious scrap metals. We at Cash4Gold are relentlessly committed to customer service and satisfaction, and we are available to you seven days a week. Should you have any questions or concerns, you need only pick up the phone and call or send an email, and we will be standing by, ready to assist you.

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