Fay Cullen » Platinum

Platinum Production

admin — Wed, 16 Jan 2013 03:42:36 +0000

By comparison, annual worldwide platinum production is approximately 160 tons as opposed to 1,500 tons of gold from just a handful of regions of the world succumbing to an arduous and time-consuming mining and refining process. A single ounce of platinum requires about 10 tons of mined ore followed by a five month refining process. Platinum used in the manufacture of jewelry is actually an alloyed group of six very similar heavy metals, including platinum, palladium, rhodium, ruthenium, iridium and osmium, most of which were not even distinguished from each other until early in the nineteenth century. Often alloyed with copper and titanium, platinum, is the only precious metal used in fine jewelry that is 90% to 95% pure, largely hypoallergenic, and tarnish-resistant. It is estimated that if all the platinum in the world were poured into an Olympic swimming pool, it would be hardly be deep enough to cover your ankles, on the other hand, gold would fill more than three pools.

Platinum Discovery

admin — Wed, 16 Jan 2013 03:41:55 +0000

ALCHEMICAL SYMBOL FOR PLATINUM = GOLD + SILVER

Platinum, discovered in 1906, is a dense, malleable, ductile, precious, gray-white transition metal deriving its name from the Spanish term ‘platina del Pinto’ meaning ‘little silver of the Pinto River’, and one of the rarest elements in the Earth’s crust. Exhibiting a remarkable resistance to corrosion, platinum frequently occurs in its pure elemental form in the alluvial sands of various rivers. Although referenced in the New World in Europe as early as the 16th century, it was not investigated by scientists in 1748 until Antonio de Ulloa published a report on this new reflective metal of Colombian origin.
Because production is limited annually to just a couple of hundred of tones, its scarcity ensures its value as both an industrial and retail commodity.

Platinum as an Investment

admin — Wed, 16 Jan 2013 03:40:30 +0000

Understanding the value of platinum, in the 1780′s, Chabeneau partnered Joaquin Cabezas in the manufacture of platinum ingots, establishing platinum as a tool of investment. Thirty-five times rarer than gold, the platinum price historically tends to average double gold during periods of sustained economic stability and growth, whereas during periods of economic uncertainty, the price tends to decrease due to reduced industrial demand, possibly falling below the price of gold. Gold prices have tended to be more stable in slow economic times due to the fact that gold is considered a safe haven, gold demand unaffected by industrial use. In the 18th century, platinum’s rarity made King Louis XV of France declare it the only metal fit for a king.

Chronological Platinum Plates

admin — Tue, 15 Jan 2013 23:20:50 +0000

So called ‘new metal’, meteorites contain platinum, earliest recorded meteorite impact on earth 2 billion years ago, disappeared for centuries at a time, ancient Egyptians, pre-Incan civilizations & Spanish conquistadors all encountered platinum, emerged in 1700′s to fascinate kings & alchemists, grew in popularity in 19th & 20th centuries.

1200BC Egyptians import gold containing traces of platinum from ancient kingdom of Nubia, make jewelry from metal mix but we don’t know if the platinum content is intentional
700BC Egyptian burial of daughter of King of Shepenupet under magnificent sarcophagus decorated with gold and platinum hieroglyphics, small document casket of platinum is placed in her tomb

100BC Ancient South American civilizations, most famous is Incas, gifted metal workers & craftsmen used platinum to create nose rings & ceremonial jewelry.
Platinum lost to mankind for 2 millennia, forgotten for thousands of years, briefly appeared when European explorers discovered new world.

1590 Spanish conquistadores named it ‘platina’ or ‘little silver’. Thirsty for gold and unimpressed by platinum, Antonio de Ulloa y Garcia de la Torre misunderstood value of platinum, dismissed it as an inferior metal and threw it back in rivers of Ecuador to ‘ripen’. Platinum disappeared from history again.

1700′s, Alchemy craze begins to arrive in Europe & is highly prized alchemy ingredient used in attempts to change lead into gold.

1751 Swedish scientist Theophil Scheffer categorizes platinum as a precious metal.

1780′s King Louis XVI of France declared it the only metal fit for kings and his jeweler Marc Etienne Janety makes several items for him including an ornate sugar bowl.

1795 In the wake of the French Revolution, France creates a metric system of weights and measures. Marc Etienne Janety who fled during the Revolution is recalled to Paris to create the standard kilogram weight out of platinum as it will not wear away and corrupt the standard. The original standard is kept at the International Bureau of Weights and Measures in Paris.

1803 British scientist W.H.Wollaston discovers process for making plat malleable facilitating commercial use.

1819 Plat deposits discovered in Ural Mountains in Russia.

1866 Diamonds discovered in Kimberly S.Africa thus boosting popularity and demand of this metal.

1884 Peter Carl Faberge, jeweler to the Russian Tzar’s, volunteer to create a jewelry egg for Alexander to give to his wife Marie. This was start of annual Easter tradition & Faberge eggs became legendary masterpieces adorned with precious stones and platinum. Made in secrecy with surprise interior

Late 1800′s Platinum mania spread across Europe & Russia, kings, queens, tsars and maharajas bedeck themselves, even using platinum thread. Carlos IV of Spain commissions creation of ‘Platinum Room’ at the Royal Palace in Aranjuez, room features hardwood decoration encrusted with platinum.

Early 1900′s, Louis Cartier 1st person to successfully create platinum jewelry, revealing for the first time, hidden characteristics of the metal. Uses platinum in his ‘garland style’ pieces to enhance the brilliance of the diamonds. His skill was unrivaled & hailed by King Edward VII of England as the ‘jeweler of kings and the king of jewelers’

1912 On maiden voyage from Southampton, England to New York, Titanic, world’s largest luxury liner. Struck an iceberg about 400 miles south of Newfoundland & sinks. About 1500 people died. In the wake of the disaster, New York high society adopts a trend for wearing black and white mourning jewelry and platinum was a popular choice of metal in these mourning days.

1924 German geologist Hans Merensky discovered worlds largest platinum deposit near Johannesburg, South Africa from which the modern platinum industry is born.

1930′s With talking pictures, Hollywood’s leading ladies become fashion icons to Americans looking to the big screen for escapism during the Great Depression. Jean Harlow and Marlene Dietrich adorn themselves in platinum jewelry. Hollywood summed up by title character in Frank Capra’s movie ‘Platinum Blonde’ played by Jean Harlow.

1936-7 King Edward VIII abdicates to marry divorcee Wallis Simpson & George VI is made king. At the coronation, his wife, the late Queen Mother, wears a crown mounted with the Koh-I-Noor Diamond. Edward, now the Duke of Windsor, marries Wallis Simpson with platinum wedding bands made by Cartier. Duchess of Windsor is expert collector of jewelry and declares platinum the one and only choice for evening wear.

1939-45 Platinum dominated the world of jewelry design during the Edwardian era, and the Art Deco period well into the 1930s. With the outbreak of the war, platinum is declared a strategic metal in USA and used in the manufacture of armaments. Jewelry making is forbidden. Rekindled after the war and is 1947 a number of precious platinum and diamond pieces are displayed in New York at the ‘White Heat’ exhibition, proving that platinum was back in vogue.

1967 Elvis marries Priscilla Anne Beaulieu at a private ceremony in Las Vegas at the Alddin Hotel with platinum wedding bands. The following decades see platinum jewelry grow in popularity, especially wedding bands and bridal jewelry.

1997 Tanaka Kogyo of Tokyo Japan created a ‘Cinderella shoe’ with 2kg of platinum metals. Displayed at the Ideal Home Exhibition in the UK with gift to the ‘best fit’ !

2000 Catherine Zeta Jones and Michael Douglas chose platinum wedding bands.

Are You in the Mood for Platinum at $1700/oz?

admin — Tue, 15 Jan 2013 18:45:52 +0000

If not now, then when?
Unless you have stockpiled precious metals in your portfolio, this may very well be your last chance to own a platinum ring! With the price of platinum continuing to soar and with minimal chance of an about-turn any time in the foreseeable future, why not take a quick peek at the platinum ring options FCI is offering in our December PV, shortly to be added to the Platinum Rings page;

Platinum Jewelry

admin — Tue, 15 Jan 2013 18:42:56 +0000

Platinum’s resistance to wear and tarnish is well suited for making fine jewelry while it has an excellent resistance to corrosion high temperatures and bears stable electrical properties, all of which have been thoroughly exploited for industrial applications. Frequently mistaken for silver, platinum is often found chemically uncombined as native platinum and alloyed with iridium as platiniridium.

Platinum’s density and weight make it more durable than most other metals used in the production of jewelry. Platinum is valued for both the fact that it does not wear away and the fact that it holds precious stones firmly and securely. Like all precious metals, platinum does bear scratches from everyday wear, however, in contrast to a gold graze, the scratch on a platinum item of jewelry is merely a displacement of the metal and not a loss of volume. So, even though wearing platinum daily may incur surface impressions, the same mass remains the same.

Always associated with exclusivity and wealth, the purity of platinum jewelry makes it hypoallergenic, consequently ideal for those with sensitive skin.
Platinum is most frequently manufactured in jewelry using a 90-95% alloy, due to its inertness and shine, making its brilliant white luster and untarnishable surface ideal for reflecting the true radiance of diamonds.

Platinum is so pliable, that just one gram of the metal can be drawn to produce a mile long fine wire over. This quality has enabled jewelers to create some amazing versatile platinum mesh jewelry, which could indeed, be fashioned from none other than the ideally suited regal precious metal, platinum, as declared by King Louis XV of France, who declare it ‘the only metal fit for a king.’

Platinum Versatility

admin — Tue, 15 Jan 2013 18:39:55 +0000

In addition to platinum’s strength and density, it has another remarkable quality, that of flexibility. Platinum is so pliable, that just one gram of the metal can be drawn to produce a fine wire over one mile (almost 2 km) long. This quality has enabled jewelers to create some amazing versatile platinum mesh accessories, which could not be fashioned from other precious metals.

Industrial platinum is also used in the construction of catalytic converters as well as playing an important role in medicine due to the fact that it is not affected by the oxidizing reaction of blood, has excellent conductivity, and is compatible with living tissue. Consequently platinum’s qualities make it ideally suited for use in the manufacture of pacemakers, today servicing more than 50,000 people who consider it a life-saving metal.

Platinum Usage

admin — Tue, 15 Jan 2013 18:37:56 +0000

Platinum is used in catalytic converters, laboratory equipment, electrical contacts and electrodes, platinum resistance thermometers, dentistry equipment, jewelry and even in chemotherapy against certain types of cancer. However, most of us are most familiar with platinum as used in the manufacturer of jewelry.

Elemental Platinum

admin — Tue, 15 Jan 2013 18:13:03 +0000

Chabaneau removed impurities from platinum ore, including gold, mercury, lead, copper, and iron, leading him to believe the result to be of elemental origin, an incorrect assumption due to the fact that the ore still contained the yet-undiscovered platinum group metals. Chabaneau finally succeeded in producing 23 kilograms of pure, malleable platinum by hammering and compressing the sponge form while white-hot, even though he was initially confused by the variable properties of what he originally thought was an element. While a platinum-iridium ore was malleable, a platinum-osmium ore was volatile by comparison.

Platinum Supply

admin — Tue, 15 Jan 2013 18:10:46 +0000

The alluvial deposits used by pre-Columbian people in the Choc Department, Colombia are still a source for platinum group metals, however, it is also mined from another large alluvial deposit in the Ural Mountains, Russia. The largest known primary reserves are in the Bushveld complex in South Africa while smaller reserves can be found in the Absaroka Range in Montana amongst other locations in the USA. In 2009, South Africa was the top producer of platinum with an almost 80% share, followed by Russia at 11%.

Did you know that platinum exists in higher abundances on the moon and in meteorites than here on earth?