Platinum is a rare and dense silver white precious metal that is created as a byproduct from mining nickel and copper. Because of its natural scarcity, it is referred to as the “most precious” of precious metals. As with jewelry, you can always try to sell your collection of platinum jewelry, for their jewelry value through a reputed jeweler or trader of precious metals or even the corner pawnshop. The value that you would get for used jewelry is very hard to determine. Determining the value when viewed from the refining point of view is much more simple and straightforward. Usually the process is to refine the platinum, based on the weight of platinum available for extraction and the ruling prices for platinum. Platinum prices are determined by troy ounces so you will need to convert the weight from grams to troy ounces. There are approximately 31.1 grams to a troy ounce therefore a platinum ring that is 95 percent platinum and weighing 22.54 grams, converted to troy ounces weighs 0.725 troy ounces. The troy ounce weight is multiplied by the ruling market prices for platinum on the day, to arrive at the melt value of the platinum. Typically people will pay around 70 percent of the fine platinum value based on the price and weight.
You need to be very clear when selling your collection of platinum jewellery, about whether you want to sell by value or by weight, particularly so if it contains any precious stones, or has any engravings designs or settings. When you want to sell platinum jewelry, there are a few things that need to kept in mind to ensure that you get the best deal. While platinum has a high value, you need to ensure that is indeed platinum and not silver or white gold. Have a jeweler assess and weigh it, many jewelers will also provide an estimate, which may not really provide you a fair value. In order to get as much as you can for your platinum jewelry and watches, keep the following steps in mind:
Clean the platinum jewelry and watches well before going to get it appraised
Get all appraisals and offers in writing
Ask what the jeweler is basing their quote on
Carry any receipts that you may still have
If you do not have the time to scout around for jewelers and cope with all the bother you can approach an established gold and precious metals trader online, who will buy jewelry made of platinum gold, silver and other precious metals. They offer offer fair prices based on international prices, less a small discount , which in industry parlance is referred to as ‘ the spread’. The benefit is you get paid instantly and you can choose to get paid instantly on the spot in cash or by check. They can also transfer the funds to your bank account if desired. The process is very fair and transparent and customers are not obligated or pressured to sell their items at any stage of the process. Jumbo Gold & Diamonds being one of the trusted names in the business of buying platinum and selling platinum, have a large team of experts who will assess the purity of your precious metals using advanced techniques, the jewelry is weighed using sensitive jewelry scales. Thereafter, with both parties agreeing, the money value will be calculated and paid according to the corresponding live prices on the day. Jumbo Gold & Diamonds, Singapore; buy platinum from their customers at very competitive and attractive prices. The next time you need to dispose of your collection of platinum jewelry and watches in try Jumbo Gold & Diamonds, for the best bargain for your precious metals and complete peace of mind.