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O/T Selling Platinum ring?

Discussion in 'Uncategorized Threads' started by Steve Campbell, Mar 15, 2008.

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  1. Steve Campbell

    Steve Campbell TS Member

    Joined:
    Jan 29, 1998
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    Since the price of gold has shot up, I was thinking of selling a platinum mens band that I have no use for.

    What can I expect to get per ounce if sold to a jeweler to be melted and reused by the jeweler? Basically I what to sell the ring to be sold and scrapped.

    What percentage waste is there, say per ounce?

    Thanks for the help.
     
  2. over the hill

    over the hill Active Member

    Joined:
    Aug 30, 2007
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    1,377
    Scrap dealers or jewelry buyers will weigh it and offer you a price. Price per dwt (pennyweight).

    Platnum was more than gold a short time ago. Platnum used to be and still may be alloyed with Iridium for toughness. Iridium is also a precious metal.

    Standard & Poor usually gives the prices in your local paper.

    I sold some platnum years ago and got about the same as 18K was bringing.

    If you have just one item to sell you might want to wait a little longer just to see what happens.

    Just my opinion. Regards Gerald
     
  3. Barrelbulge(Fl)

    Barrelbulge(Fl) TS Supporters TS Supporters

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    Platinum is selling at $2073 as of yesterday 3-15-08. Mike
     
  4. shannon391

    shannon391 Active Member

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    If it helps you can make a lot of gold bands from an ounce.
     
  5. cat house

    cat house TS Member

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    May 14, 2006
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    when I sell platinum to my refiner in oregon,they use,plat. spot X.679 divided by 20 to give the pennyweight price example3-14-08 plat. $2,067.x.679=$1,403.49.divid by 20=$70.17 per dwt. 10 dwt. ring would bring $701.17 prices will be lower thur any middleman,dealer,jeweler pawn. formula for other metals,10k .352,14k .501, 18k .651,sterling .760,dental .5703.been doing this in my own shop since 1997 hopes this helps a.d.johnson
     
  6. cat house

    cat house TS Member

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    prices were based on garfield refining website (info@garfieldrefining.com).they use london pm fixed prices. others may vary from these prices . a.d. johnson
     
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