Hard Facts About White Gold Vs Platinum
Gold has always been prized for its high investment value. Then why is platinum more expensive? This is because platinum is rarer and mined less than gold. Every year, only 160 tons of platinum is mined annually versus 1,500 tons of gold. Platinum is also more dense than gold. A ring encased in platinum weighs far more than gold. White gold gives platinum stiff competition aesthetically, but which is better for buying, selling, pawning, and investing? Let the experts tell you so you can make an informed choice.
The Truth About White Gold Vs Platinum
Both white gold and platinum have unique properties. Here are some:
- Pure platinum is softer than gold: Gold is well known for being soft and malleable. It is molten and easily recast. What is lesser known is that platinum is softer than gold. The harder the metal, the more resistant it is to scratches and dents. Diamond is the hardest natural substance that is resistant to scratches and dents but both gold and platinum scratch easily.
- Gold is more malleable than platinum: Malleability is ease in bending and moulding the metal into different shapes without breaking. A metal that is brittle breaks easily. Although both gold and platinum are soft, platinum turns harder than gold in its purest form which is why it is used to hold diamonds. However, 18k white gold is made of gold mixed with other metals such as palladium, silver and copper to make it harder. So 18k white gold is harder and more scratch resistant than platinum alloys that contain 95% platinum. On the other hand, platinum being more brittle than white gold is harder to bend and mould into different shapes. Ironically, it is still better for holding diamonds and gemstones more securely.
- Spot price of platinum and gold are the same: Spot price is the price at which a metal is sold and delivered right then as opposed to transactions in the future. The spot price of gold is the price of one ounce of gold; the spot price of platinum is the price of one ounce of platinum. Why is platinum more expensive? There are four reasons behind this:
- Platinum is denser than white gold so more material weight is required to create an ornament as opposed to creating the same ring from white gold. This is why platinum rings also look heavier and feel more luxurious than white gold rings.
- Platinum jewellery using alloys use more platinum (about 95%). On the other hand, 18k white gold uses only 75% gold to create a ring.
- It is harder to work with platinum as the metal is more brittle. Only experienced craftsmen are able to work with it. This adds to labour costs so platinum jewellery ends up being more expensive.
- Unlike gold, platinum cannot be melted down and re-used.
- White gold is easier to mould than platinum: High-quality, well-made platinum and white gold jewellery can last for generations. While white gold can be resized and repaired more easily, platinum has a higher melting temperature, which is risky for gemstones and diamonds that may get burnt in the process. An experienced craftsman using modern tools can use laser welders to mould platinum, but that adds to costs.
- Gold is a better investment: Gold is more commonly traded, valued across countries worldwide and easier to sell than platinum. Gold buyers are popular but platinum buyers are rare. This is why, despite being less expensive than gold, it still makes a better investment.
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