Scrap Platinum Value Calculator
Current platinum spot price: Unavailable
Scrap Platinum Value Calculator
Common Scrap Platinum Items
| Item | Purity | Typical Weight | Scrap Value |
|---|---|---|---|
| Catalytic Converter | Varies | 5g | — |
| Platinum Ring (950) | .950 | 8g | — |
| Lab Equipment (crucible) | .999 | 50g | — |
| Thermocouple Wire | .900 | 10g | — |
Identifying and Recycling Scrap Platinum
Platinum is one of the rarest precious metals and is widely used in jewelry, automotive catalytic converters, laboratory equipment, and industrial applications. Identifying platinum requires checking for hallmarks such as “Pt,” “950,” “900,” or “850,” which indicate the parts per thousand of platinum content.
Scrap Value = Weight (troy oz) × Purity × Spot Price
Catalytic converters are one of the most common sources of scrap platinum. A single converter may contain 3–7 grams of platinum group metals (platinum, palladium, and rhodium). The exact content varies significantly by vehicle make, model, and year. Professional assaying is recommended before selling converters.
Platinum jewelry marked “950” is 95% pure platinum. A typical platinum ring weighing 8 grams contains about 0.2443 troy ounces of pure platinum, worth approximately calculated above at current spot per troy ounce. Refiners typically pay 90–97% of melt value for platinum scrap.
Frequently Asked Questions About Scrap Platinum
How do I know if my jewelry is platinum?
Platinum jewelry is typically stamped with “Pt,” “Plat,” “950,” “900,” or “850” to indicate its purity. Platinum is also noticeably heavier than white gold and does not tarnish or discolor over time. If you are unsure, a jeweler can perform an acid test or use an XRF analyzer for definitive identification.
What platinum hallmarks should I look for?
Common platinum hallmarks include “Pt950” (95% pure), “Pt900” (90% pure), and “Pt850” (85% pure). Older pieces may be stamped “Plat” or “Platinum” without a numeric purity mark. In Europe, platinum may carry an orb or crown hallmark depending on the country of origin.
How much platinum is in a catalytic converter?
A catalytic converter typically contains 3 to 7 grams of platinum group metals, including platinum, palladium, and rhodium. The exact amount varies significantly by vehicle make, model, and year. Diesel catalytic converters tend to contain more platinum, while gasoline vehicles use more palladium.
Where can I sell scrap platinum?
You can sell scrap platinum to specialized precious metal refiners, online PGM buyers, or local jewelry buyers who handle platinum. Refiners who specialize in platinum group metals typically offer the best payouts of 90–97% of melt value. Always request an assay report before finalizing a sale.
How do platinum refiners test purity?
Platinum refiners use X-ray fluorescence (XRF) analyzers for quick non-destructive testing, which provides accurate purity readings within seconds. For more precise analysis, fire assay or inductively coupled plasma (ICP) spectroscopy is used. These lab methods are essential for high-value lots like catalytic converter material.
Is vintage platinum jewelry worth more as scrap or collectible?
Vintage platinum jewelry from the Art Deco or Edwardian era often has collectible value that exceeds its scrap melt value. Pieces with fine craftsmanship, designer signatures, or significant gemstones should be appraised by a jewelry specialist before scrapping. However, damaged or plain pieces with no collectible appeal are best sold for scrap value.