Platinum is a very rare metal, silver-white in colour. It is often mistaken for Silver. It has been discovered in meteorites and was even found to be present in moon deposits. Platinum is very hard wearing and does not tarnish over time, and is used widely in various industries, in particular in making jewellery. It is also very malleable, despite its high melting temperature. Now that Platinum is known to be extremely rare, its value has of course risen. The metal continues to be popular for wedding jewellery in particular, such as engagement rings, necklaces and bracelets and earrings and even in wedding bands, as being different from the usual Gold.
Platinum has been in use for many centuries, from ancient civilisations to the modern day. Early records indicate that the South American Inca tribes discovered the use of Platinum as early as 1500 BC. The Incas created jewellery and some other objects, usually given precious status, although they probably had no idea of value. It may have been attractive due to its bright silvery colour. The Spanish arrived in South America in the 16th century. The name Platinum stems from the Spanish word “Platina”, meaning “Little Silver”. The Spanish Conquistador Cortes is believed to have discovered the metal and its uses in South America, and the Spanish began to mine it in the 1600s, bringing it to Spain. Spanish kings and priests began to use the metal more widely, recognising its value, and the first crucible was made in 1741, making it easier to extract and mine. The metal was also used in producing coins, and early currency was made from it. An early Spanish explorer wrote about the white metal that was found in Colombia. And a Spanish Colonel discovered a mine in Bolivia where the white untarnishable metal was being extracted.
In the 19th century during the Industrial Revolution, the demand for Platinum increased. Russia became an important producer, with it being mined in the Ural Mountains. In 1869 the first Platinum Ingot was made. A necklace made from Platinum was especially created for the Russian Empress Petrovna.
Nowadays Platinum, besides being used in the Jewellery industry, is also used in the manufacture of Laboratory Equipment. A Platinum-based Chemotherapy has become a treatment for Cancer patients. It is also used in the Automobile industry, particularly in the manufacture of catalytic convertors.
Platinum continues to be very rare and a sought- after precious metal. Today it is produced mainly in South Africa, Russia and North America. In 2020 South Africa produced 77% of the world’s Platinum.
If you believe that you have some Platinum jewellery or other objects that you wish to have assessed for their value, please contact our team of experts and we will be pleased to give advice, either by visiting you in your own home or by means of a phone call. We buy Platinum Jewellery or other objects.
