How/why was I conditioned to think that platinum was more valuable than gold?
Up until recently, if you had offered me the choice between a solid gold bar and a solid platinum bar, I erroneously would have believed the platinum bar would be worth more.
Was platinum ever significantly more valuable than gold?
Every time I went shopping for jewelry for my wife platinum seemed to be at a premium.
October 03, 2020, 05:53 AM
Balzé Halzé
It's understandable. After all, my Platinum Amex is a higher tier card than the Gold. Also, Delta Platinum medallion is a higher tier than Gold medallion. So I likely would've thought the same.
~Alan Acta Non Verba NRA Life Member (Patron) God, Family, Guns, Country
Men will fight and die to protect women... because women protect everything else. ~Andrew Klavan
October 03, 2020, 06:12 AM
r0gue
It's heavier. In jewelry and watches it wears differently because of that heft. It's a cleaner/brighter white than white gold, and the color persist throughout without having to have a coating to obtain the white metal look.
In wrist watches, it absolutely commands a premium. Perhaps a bit trickier to work with as well?
October 03, 2020, 07:00 AM
cne32507
Fun Facts: Both gold and platinum metals have properties that make them useful in industry. I have an acquaintance that developed, manufactures, and sells a plasma coating "gun". It deposits a coating that is a few atoms thick on a base metal. He told me that platinum changes its' conductivity with temperature change. Thermostats use these platinum-coated strips.
October 03, 2020, 08:09 AM
rburg
quote:
Originally posted by cne32507: He told me that platinum changes its' conductivity with temperature change. Thermostats use these platinum-coated strips.
I just thought they used metal strips with different metals on each side. They bend at different rates, but very predictable. Guess its partially to phase out mercury vials. Don't need mechanical contacts. Of course automobiles use platinum coated ceramics in their catalytic converters. Its why druggies steal them. But they'd steal gold based converters if they would work. Instead they steal gold rings and stuff.
In the past, there was a very stable price relationship between gold and silver. No more. All have become industrial metals. 100 years ago we didn't even know of those uses. Silver was used in forks and spoons, gold in wedding rings, and platinum was just a novelty.
Unhappy ammo seeker
October 03, 2020, 08:48 AM
Pipe Smoker
quote:
Originally posted by cne32507: <snip> He told me that platinum changes its' conductivity with temperature change. Thermostats use these platinum-coated strips.
After my junior year of college, I interned at Detroit Edison’s instrument lab in Detroit. I worked with platinum-iridium thermocouples that we used to measure temperatures in the multi-story boilers that created steam to drive the huge generators. Platinum-iridium wire for one electrode, pure platinum wire for the other.
Ordinary thermocouples would’ve degraded quickly at the boiler temps, but this noble metal thermocouple lasted long.This message has been edited. Last edited by: Pipe Smoker,
Serious about crackers.
October 03, 2020, 09:33 AM
a1abdj
Some of you may know that white gold jewelry is often plate with Rhodium to give it a better appearance.
At today's prices:
Silver $23.69 oz
Gold $1,898.80 oz
Platinum $872.00
Back around 2000 Rhodium was worth about $1,100 an ounce. Today's price: $11,400 an ounce.
My wedding ring is half 18k gold and half platinum. People are always amazed at the weight of the ring.
The platinum helps keep the soft gold stable. I got married in 1998 and the cost of either metal was not a concern. I just wanted a cool ring since my wife got a really expensive rock.
Do, Or do not. There is no try.
October 05, 2020, 11:35 PM
Snapping Twig
Platinum is much harder to work in jewelry, you can't easily resize a ring like you can with gold. Much higher temps are needed and inert gas IIRC.
Platinum and palladium can be used in the mix to make white gold, I wear a crucifix my Dad made which is this mix - no plating and it is stark silver with no rhodium plating. Harder 'N a whores heart, not like soft gold.
My wedding ring is platinum as well.
Metal prices fluctuate, who knows... maybe platinum will supersede gold again someday.
October 06, 2020, 07:20 AM
lyman
quote:
Originally posted by armedprof: My wedding ring is half 18k gold and half platinum. People are always amazed at the weight of the ring.
The platinum helps keep the soft gold stable. I got married in 1998 and the cost of either metal was not a concern. I just wanted a cool ring since my wife got a really expensive rock.
when my Grandmother passed, my wife inherited her wedding rings (Grandmother wanted me to use them when we got married, but I was hard headed )
anyhoo,, wife had it appraised, just to see what it was,
we figured white gold, with a decent diamond, (grandparents were never wealthy, and both had been married before, and they were married in the middle of the depression)
wife and I were a bit shocked, platinum ring, I don't remember the carat weight of the diamond, that is damn near flawless,
Did you play D&D as a kid? I was into D&D for about 2 years growing up ...
IIRC currency in the game was Copper, Silver, Gold, then Platinum in order of value.
But that was early 80s...
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Proverbs 27:17 - As iron sharpens iron, so one man sharpens another.
October 06, 2020, 05:31 PM
KMitch200
Blame it on Lost in Space. Dr. Smith always drooled over platinum.
-------- After the game, the King and the pawn go into the same box.
October 06, 2020, 06:29 PM
Broadside
quote:
Originally posted by Sig209: Did you play D&D as a kid? I was into D&D for about 2 years growing up ...
IIRC currency in the game was Copper, Silver, Gold, then Platinum in order of value.
But that was early 80s...
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Same here. I always thought Platinum was worth more than Gold.
October 06, 2020, 06:31 PM
Aeteocles
Every RPG game ever always had copper, silver, gold, and then platinum coins in order of value...
October 06, 2020, 08:49 PM
apprentice
Demand went down when it stopped being used in the automotive industry IIRC. Based only on supply though, it should still be higher priced than gold. I've read it is about fifty times more rare.
Seems like the markets just do whatever they want.