Platinum is included in a very limited list of noble metals, where, in addition to it, there is also silver, palladium and gold. However, it is much less often used as an investment object, which is not surprising, because the price of the asset is subject to large fluctuations. There is demand for platinum not only in financial markets, but also in jewelry. Moreover, high-tech enterprises, where metal is used to create microcircuits and other elements of ultra-precise equipment, need it disproportionately more seriously. Let's figure out how much 1 gram now costs, as well as an ounce and a kilogram in rubles.
Acceptance of platinum and platinum products
By investing in precious metals, you are investing in financial stability.
After all, over time, they only increase in price, and if necessary, any purchase of platinum in Moscow will be ready to buy not only jewelry or jewelry, but also technical scrap metal at an adequate, decent price. However, not everyone knows how and where to sell platinum at an expensive price. And considering how much this noble silver-white metal costs, it’s important to evaluate the pros and cons before going to the nearest pawnshop or jewelry store. Indeed, in most cases, such companies try to buy jewelry by weight, which is why the seller may receive much less than he would like.
What is platinum and how much does 1 gram of it cost?
In appearance, platinum has a characteristic metallic luster with a silvery-white tint. Its price is determined by the international market based on existing demand and annual production volume. Areas of application of metal: industry and jewelry.
This metal owes its name to the river of the same name in Spain. It has been known since antiquity: in the seventh century BC, inserts for gold jewelry were already made from platinum.
Due to the low content of platinum in the bowels of the earth, 1 gram of it can cost almost the same as gold. It is in demand on the market, as it belongs to noble metals such as ruthenium, rhodium, osmium, and iridium. It can be used either separately or as part of various alloys.
There are few known deposits of this precious metal. Approximately 90% of all active mines are located in the Republic of South Africa and the Urals in the Russian Federation. Some quantities are also mined in Colombia and Canada. Platinum is a very rare metal, so its price is high. Compared to gold and silver mining, the development of platinum deposits is extremely labor-intensive and expensive.
How much does 1 gram of platinum cost on the Russian market?
We will look at how to independently calculate the cost using a specific example: let’s take real data that is current as of November 26, 2021.
First, we find out the exchange price of platinum and the dollar exchange rate - quotes on our website are updated in real time. The stock quote at that time was $893 per 1 ounce of platinum metal. Thus, the cost of 1 ounce of platinum in rubles will be:
US$893 * RUR 63.7637 = 56,941 rub.
Next, we convert to grams (one troy ounce equals 31.104 grams):
RUR 56,941 / 31.104 g. = 1,831 rub.
This is the price for 1 gram of platinum.
To find out the cost of 1 gram of platinum, you can also refer to the official quotes of the Central Bank. On banking websites you can also observe the dynamics of changes in value - this is important when deciding on the benefits of buying or selling at a particular point in time.
The scope of application of platinum is not limited only to jewelry craftsmanship. It is often used in the oil refining industry as a catalyst for the operation of fuel cells, as an additive to cobalt in the manufacture of computer hard drives, and in medicine in the design of pacemakers.
Almost all platinum produced on earth finds industrial use. Hence the reliability of investments in this precious metal, the price of which will never drop to a critically low level; its value can remain stable for a long time. To verify this, you can trace the dynamics of the price of 1 gram of platinum over the past 5 years in the illustration below.
Buying platinum at a decent price from AURUM24
Selling jewelry and platinum scrap is profitable for us for several reasons:
- Fast, objective assessment in the presence of the seller;
- Absolute confidentiality, protection of client’s personal information;
- The best price for 1 gram of pure material in the capital;
- Issuance of funds in full, in any convenient way;
- Possibility of preliminary online price assessment based on product photos.
It is worth noting that we are ready to accept platinum jewelry and scrap in any quantity, and regular customers can count on special terms of cooperation.
You can get additional information, submit photos for online examination, find out current prices and stock quotes for precious metals, and also ask all your questions:
- By calling the “Hotline”;
- Via the “Support Services” chat;
- Using the “Feedback” form;
- In mobile messengers.
In addition, we will be glad to see you at one of the collection points in Moscow and will try to do everything so that you receive a decent reward for the jewelry, regardless of their quantity and condition!
Investing in platinum
Not long ago there was a significant increase in the price of palladium. Experts predict the same thing will happen again with the price of platinum. According to experts, a sharp rise in the value of this precious metal is expected. Hence the attractiveness of platinum as an investment. Within just a few years, investing in it can bring significant dividends. If you focus on how much 1 gram of platinum costs, today you can not only save your existing savings, but also increase them.
The illustration below shows the annual dynamics of the platinum price exchange rate (USD/1 troy ounce, London fixing).
The price of this precious metal began to rise at the beginning of this millennium. Due to its unique characteristics, it has become in demand in many industrial fields. Thus, in the automotive industry, platinum-based fuel catalysts are used to reduce environmental pollution.
The growth in value was significantly affected by decreased metal production volumes in South Africa.
Ways to Invest in Platinum
The optimal solution for those who decide to invest in precious metals would be to open compulsory medical insurance at a bank
(an impersonal metal account). This is a reliable, affordable investment method with good returns. At the same time, you will not own real precious metal: the money you invest is tied to current prices for the metal asset of interest. This means that the depositor acquires real precious metal by paying for it as much as 1 gram is worth in a bank on the day of purchase, but in fact does not own its physical equivalent.
In addition to impersonal metal accounts, there are also so-called custody accounts
. They imply ownership of real bullions of precious metals, which are individually numbered and located in specialized certified bank vaults. The owner of the bullion instructs the bank to store it for a certain price.
Another way to acquire platinum assets is by purchasing investment coins
, minted from an alloy of this metal. At the moment, the production of platinum coins has been suspended, but banks are operating a number of existing commemorative and investment coins. Their cost depends little on how much 1 gram of platinum costs: the price is more influenced by collectible appeal, which depends on many factors.
Platinum is a promising investment instrument. If you monitor the dynamics of price changes, there is a good opportunity to get a significant increase in your existing savings. However, in order to profitably buy platinum (whether it is a coin, bar or OMC), it makes sense for a novice investor to first:
- understand the basics of investment,
- regularly monitor price forecasts
- and monitor quotes of precious metals and currencies.
Sale
If you decide to sell platinum, the first thing you need to pay attention to is the price of 1 gram. Not all companies that offer the purchase of platinum and other precious metals are ready to offer the seller a decent price. If you want to sell platinum as profitably as possible, spending a minimum of personal time, we are waiting for you!
Buying platinum is a popular service, using which you can get a high income from the sale of jewelry.
In what form is it accepted:
- serviceable jewelry: rings, bracelets, chains, cufflinks, etc.;
- fragments (scrap);
- bank bullion;
- investment and ancient coins.
The condition of the proposed assets does not matter - the precious metal is accepted in any form. If the client makes a branded product or antique, the price of such assets will be as high as possible.
To sell products and make a decent profit, you will need a minimum of effort and personal time.
Transaction stages:
- Use the online evaluation form: describe the product you are selling. It is advisable to attach a high-quality photo of the decoration. This will speed up the assessment.
- Wait for the appraiser's response. The answer always comes on the same day as the request. If you are satisfied with the declared price, bring the items being sold to the delivery point.
- The jewelry is re-evaluated on site. The expert accurately determines the sample of the proposed product. This parameter has a key impact on the amount of the transaction with the precious metal. If the final price announced by the expert suits the owner of the jewelry, it is necessary to conclude a deal by signing the appropriate agreement. The document records the cost of jewelry sold by the client.
- After signing the contract, the seller receives the agreed amount. Money is issued in cash or transferred to the client’s bank card.
What is the price
Platinum used in jewelry is 800, 850, or 950 fineness. If you intend to sell a metal product, you should contact one of the purchasing organizations. So, for example, in:
- in pawnshops, jewelry of the highest standard is readily accepted, but costs little - a maximum of 1,540 rubles, and a minimum of 900 per gram;
- in jewelry stores you can get about the same amount.
Moreover, the latter sell platinum products for at least 6,000 - 8,000 rubles.
Banks also accept the precious metal - here the price of the highest standard (999) is not much different from world prices. But financial institutions make money on the difference between purchases and sales. So, at Sberbank you can now get 1,748 rubles per gram. The purchase will cost 1,942 rubles.
Many private workshops willingly take platinum from citizens. They usually offer the best price. This happens because here the metal is immediately put into use, and, accordingly, they make money not on speculation, but on the sale of finished products.
The lowest price is in pawn shops - these organizations do not de jure make a purchase, but issue money as collateral. That is, a person has the right to later pick up the product, returning the amount with interest. If this does not happen, then the item is sold to anyone.
Where exactly to place the jewelry is up to you. Remember just one thing - no matter how beautiful a ring or chain is, they will be accepted as scrap, that is, you will only get the price of grams of precious metal. Today, an exception is made only for antiques or highly artistic works of authorship.
A little history
Platinum appeared in the Old World only after the discovery of America. The Incas mined it quite actively. The latter sintered metal with gold dust and forged elegant things. The Indians did not want to share their processing secrets with the conquistadors, and they, not understanding the value of platinum, began to contemptuously call it “silver.” This is exactly how its name is translated from Spanish into Russian.
The price of platinum was so low that it was often used to counterfeit the much more precious silver of the time. We learned about this by accident - in the second half of the 20th century, a Spanish galleon was discovered off the coast of South America, in the hold of which there were fake ingots. Thus, the governor of one of the colonies clearly tried to cover the shortage that had arisen not without his participation.
Much later, chemists learned that platinum combines well with gold and, as a result, acquires high malleability. At first, jewelers began to abuse this property. At the same time, it was impossible to expose the schemers - the specific gravity of platinum is 5 grams more than that of gold. Very soon, counterfeits flooded the market, and in some countries authorities banned the import of platinum.
In Russia, the first deposits of the precious metal were discovered in the first third of the 19th century - first in the Urals, and a little later in the vicinity of Nizhny Tagil. The reserves turned out to be colossal, and soon our country became the world leader in production.
The largest platinum nugget was also discovered in Russia - its weight is 12 kilograms.
Due to too high production, a considerable part of the platinum remained unclaimed, and as a result, the authorities of the Russian Empire decided to use the surplus for coinage. The first means of payment came into circulation in 1824. Then they were treated with great distrust, but now coins cost at least 5,000 US dollars apiece.
The demand for the precious metal grew significantly only after chemists managed to develop a method for its purification at the end of the 19th century. It was from this time that platinum began to be used to make frames into which diamonds were set. Before that, the stones were attached to a gold base, but it was too soft and wore out quickly.
