To buy platinum requires attention to a number of factors.

Firstly one needs to establish ones budget. How much can you afford to spend? Platinum is around twice the price of gold generally speaking so that should be taken into account when working out your budget. Platinum averages around 1,200 to1,210 US dollars per ounce of pure platinum at the time of writing.

If you are buying platinum bars then you can buy smaller bars, such as one ounce, and simply build up. If you are buying platinum jewelery then you would need to buy your platinum in one hit.

It you are spending for an engagement ring two months salary is considered about right taking into account the fact that you might have a diamond set in the ring.

Ensuring that you are getting pure platinum is important. In America, platinum jewelry contains either 90% or 95% pure platinum. By comparison, 18 carat gold is 75% pure and 14 carat is 58% pure gold. No other precious metal is as distinctive to own and wear or possesses all the qualities of platinum. Platinum’s lustrous sheen and rare beauty are coveted worldwide.

Platinum jewelry marked “IRIDPLAT” contains 90% platinum and 10% iridium. When marked “PLAT”, an item is at least 95% platinum, with 5% ruthenium. In Europe, platinum is identified by the following marks: 950 or PT950. If you are buying platinum bars or coins then each should come with a certificate of authenticity to show the weight, quality (fineness) and in a proper seal package.

Platinum will never tarnish or lose its rich white luster. Platinum coins or bars should be at least 99.99 percent fine.

Jewelery should also come with a certificate indicating the details of the piece including the quality of the diamond or gemstone.

Keeping the above in mind when you buy platinum will help to ensure that you are getting what you paid for.

This entry was posted on Tuesday, September 26th, 2006 at 5:35 pm.