Platinum and gold are the most loved metals for jewelry. So it’s no wonder if your gaze stalls at either one while choosing a piece of jewelry. Platinum has derived its name from the Spanish word ‘platino’ which means “little silver”. Gold has received its name from old English and German origin words, like Geolu meaning yellow, which is the dominant characteristic of gold.
Platinum and gold are two of the most traditional metals and have a huge significance culturally. Platinum symbolizes durability and purity besides representing status and reputation. Gold symbolizes prosperity, richness and power.
It is a well-known fact that platinum jewelry is more expensive than gold. One reason is that precious metals are priced by weight, and platinum is much denser than gold, meaning it is heavier. Though by weight, both metals are in a fairly similar price range, the density of platinum means that more quantity is required to create jewelry pieces thereby making these pieces more expensive.
Below, we have listed a few other points to clear your confusion as to why platinum costs more than gold!
The cost per ounce of platinum and gold is based on pure metals. When we go out to buy jewelry, these metals are usually mixed with other metals and non-metals to make them more durable for everyday wear.
When these metals are converted into jewelry – 95% of pure platinum is used and 5% of other elements are used. This is because platinum in itself is a relatively harder metal as compared to gold.
On the other hand, pure gold or 24k gold is softer and so to make it harder, and to be used as jewelry, other elements are mixed in greater proportion. To make 14k gold – 58.5% of pure gold is used and 41.5% of other substances such as silver, copper, zinc, etc. are mixed. And 18k gold has 75% of pure metal and 25% other metals and non-metals.
Platinum mines around the world are fewer compared to gold mines. Only 160 tons of platinum can be sourced annually, whereas on the same scale, approximately, 1500 tons of gold are mined.
Looking at how platinum is rarer than gold, it is evident that the cost of this metal is compelled to be higher as compared to gold.
Platinum is denser than gold. Precious metals are sold by weight, and so the volume of one ounce of platinum is less than that of one ounce of gold.
Platinum vs gold rings – If you weigh the two rings of the same dimensions you’ll find that the weight of the platinum ring is 50% higher than that of the gold ring.
In conclusion, the choice between the two metals will boil down to one thing – preference. But hopefully, with our pointers, a more conscious choice can be made. You can decide on the best metal that suits your style. If you’re still in a dilemma about platinum vs gold, then you must explore our huge variety of both platinum and gold jewelry.