Overrated: Platinum jewelry expensive solution for non-existent problem
Filed under: Shopping
Platinum is a particularly useful metal; over a third of the annual world production goes for catalytic converters, and new fuel cell technology depends on it as well. However, when it comes to jewelry, I think platinum is overrated.
I'm not questioning the rap your local jeweler may have laid on you in an attempt to upsell you into a platinum setting for your diamond. The metal does wear better than gold, holds a polish better, and would be worth more in a distress sale. I just don't think the difference between platinum and white gold is worth the price.
Platinum is currently selling for about $1,350 a Troy ounce, 69% higher than gold. The difference in jewelry price is even higher; while a 14-carat gold is only 62.5% gold, the balance less expensive metals, a good platinum ring is usually 95% high-cost platinum.
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While white gold is not as durable as platinum, it is still very durable, and millions of people have lived their lifetimes quite content with white gold. For the difference in price, you could afford to have your ring repronged once or twice during your lifetime, with enough left over to splurge on some knockout earrings.
I also feel that platinum has a cold, steel-like finish, where white gold's patina is much warmer. For those who like an industrial look in white jewelry, there are other options- palladium, titanium, and tungsten carbide. To show off your betrothal jewels, though, I'd stick with white gold.
Finally, platinum is more difficult for a jeweler to work with, as it has a higher melting point than gold. If you need to have platinum jewelry repaired, don't trust it to a bench jeweler without platinum experience; you could end up with a platinum puddle. Be prepared to pay a higher price for such skills.
Sure, there's a certain kick in knowing the ring on your finger is made from the same material as the pollution control of your car. For a 69% savings, though, I'd think white gold, and pocket the difference.
Reader Comments (Page 1 of 1)
9-11-2008 @ 9:04AM
Pat said...
I manufacture Very High End jewelry for for the largest jewelry houses in the world, and Yes, you can save with white gold, but there are more benefits to Platinum over White Gold.
Tom forgot to mention that all of white gold is Rhodium Plated to cover the yellow gold you can see in white gold.
White gold is a combination on Yellow Gold and Nickle to give it that "White" look, but because of the yellow gold, you really never get a true white color like you do with Platinum.
Many people are also allergic to the Nickle in white gold, but you would never know until the Rhodium Plating whore off, and it does, in about a year or so of everyday wear.
You also can not just bring in a white gold piece of jewelry to a local jeweler to have polished, unless he can re-do the Rhodium Plating, which these days is very expensive. Just over $8,000 an ounce. Rhodium Plating a ring will cost you approx. $45-$55 each year.
If you are purchasing a $5K, $10K, 15K etc. diamond, why would you be worried about saving on the metal. 95% of the cost of an engagement ring is in the diamond anyway. A simple Platinum mounting will cost you approx. $1,500 for a single diamond.
Platinum is 95% pure and lasts forever.
Tom is right, that you have to have an experianced jeweler work on Platium as it has a much higher melting point.
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11-23-2008 @ 1:04PM
Eric said...
I would not buy a white gold ring from a jeweler unless he or she offered free rhodium plating. I bought my wife her rings from a little jewler near our house and whenever here ring needs cleaned or rerhodiumed (not sure how to spell that) it is all free whenever she wants. Of course now platinum and gold are almost the same price per ounce, but at the time my wife's same ring would have cost almost twice as much. Between her engagemment and wedding ring I spent around $9,000. This includes the diamond. With platinum I would have spent around $15,000! An extra $16,000! Not worth it in my opinion. Especially when we can get the rings rerhodium.... and cleaned for free. The rings always looked new.
9-11-2008 @ 12:04PM
Trudi said...
I usually buy white gold jewelry, but my wedding band and engagement ring are platinum. When I hold the white gold and platinum together, I can see the yellow in the gold come through. Platinum is a truer white, and much prettier IMHO.
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9-11-2008 @ 12:39PM
LaVerne Wheeler said...
My engagement and wedding ring, as well as my husband's wedding ring are platinum. I chose this metal precisely for it's wearability and durability, but mostly because the metal represents the quality of endurance. This is my second marriage, as it is for my husband. We were childhood sweethearts who went different ways, but our love endured and our roads intersected at just the right time. I opted for a slightly smaller diamond in order to keep the purchases within budget, but I absolutely love seeing that platinum ring on my husband's hand. And, it gives his married look a different look.
My engagement ring has a just a bit more bling, and my wedding ring has the look of newness and eternity at the same time. I think your comment is short sighted, directed more to the young than the mature. And, you may think white gold looks the same - but it don't. My journey necklace is white gold and it looks so much cheaper than my rings there is no comparison.
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9-11-2008 @ 2:53PM
Steph said...
Interesting. A lot comes down to looks, I suppose. I don't like the way white gold looks--it's too warm for me. I'd prefer platinum or silver if I were buying jewelery.
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9-11-2008 @ 7:42PM
Bradd said...
I think the author of the article made a mistake in his division, 14K gold is commonly accepted as being 58.5% gold, the balance being other metals. If you can find a jeweler who is selling 14K gold stamped .625 you better buy it.
Also there are other alternatives to the high cost of Platinum. Palladium is affordable and not as difficult to work with as Platinum. There are also alloys available as alternatives to white gold that do not need yearly rhodium plating. Check Jewelry411-Jewelerman.blogspot.com for some honest and neat info.
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9-12-2008 @ 8:47PM
Lassie said...
My husband and I looked at platinum jewelry on our 20th anniversary, just for fun. The thinnest ring looked no different from steel, silver, or white gold on my finger. I'm a yellow gold girl, though I would certainly wear platinum on the other hand... So I said if I was going to get a platinum ring, I would want to go all the way and get the band with little inset diamonds all around. And then I thought, we're unpretentiously middle class, we're putting our child through college and grad school, the house needs repairs - then retirement, just a few years down the road...so I'm going to be an old retired lady with the price of most of that on my wizened up old finger??? NO WAY! I couldn't do it. So we bought a yellow gold eternity band with little diamonds and I couldn't be happier. Though that platinum and diamond band was stunning, it wasn't meant to be .. :(
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9-12-2008 @ 9:32PM
Anna said...
Maybe it's true that platinum is overrated... but not to me. I have a problem with jewelry. I can't wear it, basically. There's nickel is ALL gold (not just white... yellow gold is mixed w/ nickel too), but platinum is not. I have an 18kt pure gold ring that was my mother's that I cannot wear, b/c it'll leave a red/itchy bump on my finger after just a few hours. Real gold necklaces leave rashes on the back of my neck. Bracelets usually do ok, b/c they move around so much, but it's ALWAYS been difficult for me to wear rings... until my husband proposed and had bought my a platinum ring, and NOT ONCE have I had a problem with it! The only time I take it off is to clean it, or while I'm messing w/ yuky stuff on my hands (i.e. battering chicken for dinner, etc...) Personally... I PREFER the look of yellow gold... but if it's a choice if it being the color I like and not wearing it, or the color I "don't mind" and wearing it... I think I'll WEAR IT!
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9-13-2008 @ 9:31PM
Rachel said...
Stainless steel jewelry has the look of platinum, it's affordable, durable, doesn't need polishing, and comes in many great designs, if you know where to look!
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9-14-2008 @ 3:17PM
nobodysangel1919 said...
Platinum isn't overrated. That is something that uneducated jewelry salespeople tell buyers frequently. If you can afford it, it is well worth it in the long run. It is like owning a BMW, the maintenance is more expensive, but it is less frequent. You won't have to have your prongs retipped or head replaced and the band reshanked. Platinum doesn't wear as quickly as gold and is almost pure. It is also hypo-allergenic. And it is much rarer than gold, which is the reason for the higher prices. You can go to www.preciousplatinum.com for more information on platinum.
The author isn't very well-versed in precious metals by stating that 14kt gold is 62.5% gold. But he is right that you do need an experienced jeweler to work on your platinum jewelry. If the jeweler doesn't know what he was doing, he can burn your diamonds as well as damage his own eyesight. I have seen it done.
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9-14-2008 @ 8:04PM
paulmcg said...
Expensive jewelry is quite overrated. My wife and I have silver wedding rings, and have never bought any expensive jewelry, cars or other costly doodads. We've used the money we've saved and traveled all over the world. For example, by the end of the year we will have taken four vacations in 2008, to the Caribbean, Colorado, Canada, and Europe.
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10-30-2008 @ 9:17AM
Mac said...
Here is my take..I have been in the upscale jewelry business for thirty years......I tell all my customers this....If money is not a factor , Go with platinum.But I am selling alot more palladium these days too...its a great alternative to plat..and much less expensive.
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10-30-2008 @ 11:20AM
Carney said...
Here's the thing - many people can't wear gold. My wife for instance has such delicate skin that if gold merely touches her it makes a black mark, like a soft pencil. You can literally write your name on her with any gold object.
So it had to be platinum.
I'll admit it was a downside when she put on weight during pregnancy and she had to remove the wedding band and engagement ring, because it's MUCH harder to cut through and remove a stuck platinum ring than gold, which is much softer.
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11-05-2008 @ 4:41PM
Preston said...
Just as platinum is useful in the medical industry, for computers and electronics, it is useful material for jewelry. What is overrated about quailty?? I remember going to my mom for advice on a ring. She took off her diamond wedding band that had been passed down for generations, held it up and said, "You have no idea what this ring has been through and still a perfect circle and gorgeous." I went with platinum because it was an investment in my wife's life and for many generations to come. Also, for whatever reason, I found that 81% of all women looking for an engagement ring prefer it :-) She's happy.
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11-20-2008 @ 3:12PM
Danny said...
When it come to spending money on any jewelry, you really should think of it as an investment. I used to alway go with the less expensive stuff for my girl. Whether losing a stone or scratches, there was always something wrong. When looking for her engagement ring, I knew that spending a little extra money was worth the quality, and not having to worry about getting it repaired or her being unhappy.
My friend recommended me to:
http://www.engagementguide.com
Great advice from professionals and a selection of affordable and high-end in one place.
I get it, but it's worth it.
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