How To Sell Platinum

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How To Sell Platinum

In order to sell your platinum coins or platinum rings, you will need to know the answers to these questions

By Jon Warren

There are some key facts buyers need to know when making a bid for your platinum coins or platinum rings. This article covers the basics.

Platinum coins are bullion coins. They do not have "rarity" or "collector" value. The value they have is in the platinum content. The key facts a buyer needs are:
Country  (example: Canada)
Denomination  (example: $100)
Weight (if known)   (example: 1 troy ounce)
Purity  (if known)   (example: 999 fine)

Most platinum buyers do not want diamonds and other gemstones. They just want the platinum.

Check The Stamping
Is the piece stamped with a purity stamp?  If not, most buyers will not touch it unless they have it in hand and can test it with an acid test. Platinum is usually at least 95% pure, the only purity that can be stamped “Platinum,” although it can also be stamped “950 Plat” or 950 Pt.”  If a Platinum ring is 90% pure platinum, it will be stamped “900 Plat” or “900 Pt.”  If a Platinum ring is 85% pure platinum, it will be stamped “850 Plat,” or “850 Pt.”

Jewelry that contains at least 50% pure platinum and at least 95% platinum group metals (platinum, palladium, iridium, osmium, rhodium, and ruthenium) is stamped with the platinum content and then the content of the other metal. For example, “600 Plat 350 Irid” or “600 Pt 350 Ir.” Jewelry that contains less than 50% pure platinum cannot be marked with the word platinum or any of it's abbreviations.

How much does the piece weigh, in grams?
Do you know how much each piece weighs in grams? Buyers need to know this key fact but can often work around it if you simply don't know. To get the best bid, weigh your pieces and be ready to supply this information. You can buy an inexpensive gram scale at Walmart or online at Amazon.com  (search "gram scale"). You'll need one that can weigh up to at least 50 grams.

Once buyers have these questions answered they can can make a bid, if you happen to have photos you can email, that would be a big help as well.
To get the best offer for your pieces, you must give the generally-accepted information that expert buyers require.

This article has been read 6135 times. Last read on 6/26/2022 1:39:13 PM

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