Platinum Melt Value Calculator
Current platinum spot price: Unavailable
Platinum Melt Value Calculator
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Common Platinum Items
| Item | Weight | Melt Value |
|---|---|---|
| 1 oz Platinum Eagle (99.95%) | 1 ozt | — |
| 1 oz Canadian Maple Leaf (99.95%) | 1 ozt | — |
| 10 oz Platinum Bar | 10 ozt | — |
| 1 kg Platinum Bar | 32.1507 ozt | — |
Platinum Purity Grades
| Grade | Purity | Value/ozt |
|---|---|---|
| 999 (Pure) | 99.9% | — |
| 950 (Jewelry) | 95.0% | — |
| 900 (Vintage Jewelry) | 90.0% | — |
| 850 (European) | 85.0% | — |
About Platinum and Its Uses
Platinum is one of the rarest precious metals, approximately 15–20 times scarcer than gold in the Earth's crust. It is prized for its density, corrosion resistance, and catalytic properties.
The largest demand for platinum comes from catalytic converters in diesel vehicles, where it helps reduce harmful emissions. Platinum is also widely used in fine jewelry — particularly in engagement rings and wedding bands — due to its durability and naturally white luster.
Industrial applications include laboratory equipment, electrical contacts, dentistry, and medical devices. Platinum's high melting point (1,768°C) and chemical stability make it indispensable in many high-temperature and corrosive environments.
Melt Value = Weight (troy oz) × Purity × Spot Price
Key Facts About Platinum
- Chemical symbol Pt, atomic number 78, density 21.45 g/cm³ — one of the densest elements
- Platinum melting point is 1,768°C (3,215°F), far higher than gold (1,064°C) or silver (962°C)
- South Africa produces approximately 70% of the world's platinum supply
- About 40% of platinum demand comes from catalytic converters in diesel vehicles
- Platinum was first used by pre-Columbian South Americans over 2,000 years ago
- A single catalytic converter contains 3–7 grams of platinum group metals
Frequently Asked Questions About Platinum
Why is platinum sometimes cheaper than gold?
Platinum can trade below gold when industrial demand weakens, particularly during downturns in the automotive sector. Gold also benefits from stronger investment demand and central-bank buying, which can push its price above platinum during periods of economic uncertainty.
What is the difference between platinum and white gold?
Platinum is a naturally white metal that is typically 95% pure in jewelry. White gold is an alloy of yellow gold mixed with white metals like palladium or nickel, usually plated with rhodium to achieve a white appearance.
How do I identify platinum jewelry?
Look for hallmarks such as "Pt", "Plat", "950", or "999" stamped on the piece. Platinum is noticeably heavier than white gold and will not show a yellowish tinge when scratched, unlike rhodium-plated white gold.
Is platinum a good investment?
Platinum can diversify a precious-metals portfolio because its price is driven by industrial demand as well as investment interest. However, it tends to be more volatile than gold due to its smaller market and heavy reliance on the automotive sector.
What are platinum group metals (PGMs)?
PGMs are six chemically similar elements: platinum, palladium, rhodium, ruthenium, iridium, and osmium. They share high melting points, corrosion resistance, and catalytic properties, and are often mined together from the same ore deposits.
How much platinum is in a catalytic converter?
A typical catalytic converter contains 3–7 grams of platinum group metals, though the exact amount varies by vehicle type. Diesel catalytic converters tend to use more platinum, while gasoline converters rely more on palladium.
What purity is platinum jewelry typically?
Most platinum jewelry is 950 parts per thousand (95% pure), with the remaining 5% consisting of alloys like iridium, ruthenium, or cobalt for added hardness. Some pieces are marked 900 or 850, indicating lower but still high purity levels.
Where is platinum mined?
South Africa dominates global platinum production, supplying roughly 70% of the world's output from the Bushveld Igneous Complex. Russia and Zimbabwe are the next largest producers, followed by smaller operations in Canada and the United States.
How do I sell platinum jewelry or scrap?
You can sell platinum to refiners, precious-metal dealers, or pawn shops. Use a melt-value calculator to estimate your item's worth based on weight and purity before selling, and obtain quotes from multiple buyers to ensure a fair price.
What industrial applications use platinum?
Beyond catalytic converters, platinum is used in petroleum refining, electronics, glass manufacturing, and medical devices such as pacemakers. Its exceptional chemical stability and catalytic efficiency make it irreplaceable in many high-technology processes.