Value of Platinum?

Posted: 12/14/2005 9:53:29 AM EDT

i was reading about this guy's tungsten jewelry here and it got me curious as to the value of my one piece of unusual bling. i have a great big chain of platinum, feels like it weighs two pounds, and was wondering if anyone knows where i can find the value of platinum...i was told the necklace is about $5k but that seems like an awful lot!

thanks for any help...

Posted: 12/14/2005 9:57:50 AM EDT

[#1]

I cannot answer your question on its actual value, but I have read a couple of articles in the last month that the entire platinum market is going up as the industry is not producing enough to keep up with demand. More demand than product = $$$ up.

Posted: 12/14/2005 10:00:45 AM EDT

[#2]

IIRC platinum is more per ounce than gold correct?

Posted: 12/14/2005 10:01:16 AM EDT

[#3]

The value of platinum is not in the jewelry, but in industry. It is used as a catalyst, for in the petroleum industry, without it the reactions would go slower and produce less product. Platinum is currently > $1,000/oz.

Posted: 12/14/2005 10:03:56 AM EDT

[#4]

Platinum is at $966 per oz today

Gold is $506.30

Silver is $8.43

Posted: 12/14/2005 10:05:02 AM EDT

[#5]

money.cnn.com/data/commodities/

$967.50 a troy ounce

Posted: 12/14/2005 10:08:20 AM EDT

[#6]

platnium is very costly to mine. It was a very precious medal even before it became known as bling

Posted: 12/14/2005 10:26:39 AM EDT

[#7]

JESUS CHRIST!!! like i said, this thing feels like it weighs a couple pounds...i got an uncle who's a big construction guy in japan. several years ago i gave him a leather g-1 flight jacket and he was so grateful he gave me this necklace! holy shit!!!

Posted: 12/14/2005 10:30:44 AM EDT

[#8]

i wonder what mithral is going for....

Posted: 12/14/2005 7:14:12 PM EDT

[#9]

On a somewhat slightly unrelated note I just learned today that copper pennies are worth more as scrap metal than as coinage.

www.coinflation.com/

they are worth about .014 dollars.

Posted: 12/15/2005 3:26:22 AM EDT

[#10]

There's a plant just north of where I work that has security almost like a nuclear weapons storage site. Turns out it makes catalytic converters for autos. Neighbor told me they usually have over $10M in platinum on site at any one time.

Merlin

Posted: 12/15/2005 12:42:35 PM EDT

[#11]

Quoted:
On a somewhat slightly unrelated note I just learned today that copper pennies are worth more as scrap metal than as coinage.

www.coinflation.com/

they are worth about .014 dollars.

Just remember, that's pre-Reagan solid copper pennies. The current ones have a zinc core.

I still can't believe that Reagan debased the penny.

Posted: 12/15/2005 12:47:06 PM EDT

[#12]

Quoted:

...I still can't believe that Reagan debased the penny.

As a coin collector I share your disgustipation. But remember that at the time there was a big runup in the price of copper, and the meltdown value of a bronze penny was approaching one cent. There was a valid fear that pennies would be melted down wholesale.

I've been tinkering with a gadget to automatically separate bronze (1982 and earlier) pennies from the later zinc ones.

Posted: 12/15/2005 12:51:35 PM EDT

[#13]

Quoted:
There's a plant just north of where I work that has security almost like a nuclear weapons storage site. Turns out it makes catalytic converters for autos. Neighbor told me they usually have over $10M in platinum on site at any one time.

Merlin

How much platinum is in a catalytic converter? Are they good salvage stuff?

Posted: 12/15/2005 12:52:30 PM EDT

[#14]

About $44 a penny weight.

Posted: 12/15/2005 12:57:51 PM EDT

[#15]

My wedding ring is Platinum. A very simple band and it was over $500.

My wifes band is Platinum, actually I had it custom made with a Jeweler I know and it was over $2400 (w/ Diamond Baguettes of course

). No this did not include the stone

Back on track....the prev. poster is correct. Its more expensive than Gold and holds up a hell of alot better. I've slammed the shit outta my band and nothing ever more than a scratch. I'll get it buffed out (literally

) ever couple years.

eta
Hardcorps,
I don't doubt it at all that it cost that much.

Posted: 12/15/2005 1:50:12 PM EDT

[#16]

Quoted:
Quoted:
There's a plant just north of where I work that has security almost like a nuclear weapons storage site. Turns out it makes catalytic converters for autos. Neighbor told me they usually have over $10M in platinum on site at any one time.

Merlin

How much platinum is in a catalytic converter? Are they good salvage stuff?

Most catalytic converters have an ounce (+/-) of platinum, palladium or and alloy of the two. Yes they are great recycle candidates.

SRM

Posted: 12/15/2005 1:53:05 PM EDT

[#17]

Quoted:
i wonder what mithral is going for....

The LOTR thread is -----------------------> that way.

Posted: 12/15/2005 2:54:58 PM EDT

[#18]

Quoted:
Quoted:
Quoted:
There's a plant just north of where I work that has security almost like a nuclear weapons storage site. Turns out it makes catalytic converters for autos. Neighbor told me they usually have over $10M in platinum on site at any one time.

Merlin

How much platinum is in a catalytic converter? Are they good salvage stuff?

Most catalytic converters have an ounce (+/-) of platinum, palladium or and alloy of the two. Yes they are great recycle candidates.

SRM

Thanks, I can't answer 'cause said neighbor moved back to a plant in SC and I can't ask him anymore. He was in charge of QA, so would probably have known if he was still here to ask.

Thanks,

Merlin

Posted: 12/15/2005 3:32:27 PM EDT

[#19]

Quoted:
platnium is very costly to mine. It was a very precious medal even before it became known as bling

Actually, no. Platinum only became valuble in the 20th century, for industrial uses. Before then, nobody wanted it. Platinum was named by Spanish conquistadors in Columbia who hated the dull grey nuggets they kept finding in their gold pans instead of gold. They called it "platina" (little silver). The Spanish mined it anyway, and Phillip II of Spain became the biggest holder of platinum in the world. Problem is, nobody wanted the stuff as payment.

Also, until oxygen was isolated by Lavoisier in the 18th century, platinum's melting point was so high no one could melt the shit. In the 19th century, the Russian czar's men found big deposits of platinum in Siberia, and the czar had it mined and minted into coins, but like Phillip discovered, nobody wanted it. Jewelers didn't want it, neither did merchants, or foreigners, it was virtually worthless.

But since industrial uses for it have been found, the utility of platinum and its scarcity has made it more valuable than gold. This has created a demand for it in jewelry, too. But like tungsten, this isn't a traditional use of the metal.

Posted: 12/15/2005 3:34:43 PM EDT

[#20]

Quoted:
There's a plant just north of where I work that has security almost like a nuclear weapons storage site. Turns out it makes catalytic converters for autos. Neighbor told me they usually have over $10M in platinum on site at any one time.

What would Neil McCauly do?

Posted: 12/15/2005 3:40:47 PM EDT

[#21]

www.monex.com/monex/controller?pageid=prices

Posted: 12/15/2005 3:43:42 PM EDT

[#22]

Quoted:

Most catalytic converters have an ounce (+/-) of platinum, palladium or and alloy of the two. Yes they are great recycle candidates.

SRM

If you think about it, this cannot be correct.

We have already established that an ounce of platinum is worth close to $1000.

If a catalytic converter contained contained an ounce of platinum, they would cost far more than that.

Catalytic converters don't cost anywhere near that much.

Someone else gave the answer, but didn't quote the question.

There is approximately 1/20th of a troy ounce. (one pennyweight)
Or about $44.

This is what goes in.

You would never be able to recycle it yourself and make a profit.

Recyclers do, however, buy scrap catalytic converters.
But they buy tons at a time.

Posted: 12/15/2005 4:59:10 PM EDT

[#23]

Quoted:
money.cnn.com/data/commodities/

Natural Gas went Down?!?!?

My heating bill better go down too!

Posted: 12/15/2005 6:49:28 PM EDT

[#24]

there was an article in national geographic a few years ago about platinum and they said that all the platinum ever mined would fit in one room that wasn't very big. I think maybe ten x ten or twenty x twenty feet. It was surprising how little there actually is....

Posted: 12/17/2005 3:30:58 AM EDT

[#25]

Quoted:
Quoted:

Most catalytic converters have an ounce (+/-) of platinum, palladium or and alloy of the two. Yes they are great recycle candidates.

SRM

If you think about it, this cannot be correct.

We have already established that an ounce of platinum is worth close to $1000.

If a catalytic converter contained contained an ounce of platinum, they would cost far more than that.

Catalytic converters don't cost anywhere near that much.

Someone else gave the answer, but didn't quote the question.

There is approximately 1/20th of a troy ounce. (one pennyweight)
Or about $44.

This is what goes in.

You would never be able to recycle it yourself and make a profit.

Recyclers do, however, buy scrap catalytic converters.
But they buy tons at a time.

I based my statement on some friends who are involved in the industry. According to them, they buy the CC for $40-60 each. Each is said to have up to $600 in precious metals. The amount of Pt/Pd is dependant upon the metal price when the CC was produced. ie, as the price of Pt increases, more Pd is used as the catalyst. If they recycle the converter when Pd is high, they make more money.

Perhaps I ws misinformed.

SRM

Posted: 12/17/2005 4:01:43 AM EDT

[#26]

Quoted:
Quoted:
Quoted:

Most catalytic converters have an ounce (+/-) of platinum, palladium or and alloy of the two. Yes they are great recycle candidates.

SRM

If you think about it, this cannot be correct.

We have already established that an ounce of platinum is worth close to $1000.

If a catalytic converter contained contained an ounce of platinum, they would cost far more than that.

Catalytic converters don't cost anywhere near that much.

Someone else gave the answer, but didn't quote the question.

There is approximately 1/20th of a troy ounce. (one pennyweight)
Or about $44.

This is what goes in.

You would never be able to recycle it yourself and make a profit.

Recyclers do, however, buy scrap catalytic converters.
But they buy tons at a time.

I based my statement on some friends who are involved in the industry. According to them, they buy the CC for $40-60 each. Each is said to have up to $600 in precious metals. The amount of Pt/Pd is dependant upon the metal price when the CC was produced. ie, as the price of Pt increases, more Pd is used as the catalyst. If they recycle the converter when Pd is high, they make more money.

Perhaps I ws misinformed.

SRM

As an auto "salvager", I can put this to rest rather easily...

Large Foreign cat.....$97
Regular Foreign....$51
Large GM cat....$64
Medium GM cat....$40
Small....$31
Chrysler....$50

These are current prices PER cat in the Midwest market. Will vary some by region. Cats are sorted and priced by type, and remaining content.This is just a sample of common prices. Depending on who you sell your cat(s) to, they will either resell them for 5-10% more, or process them. In processing, they cut the cat open, empty the contents into a large box to sell, and then sell the SS hulls for scrap. SS is a good scrap as well. The recycling business as a whole can be rather profitable, as you make your money off what people consider to be junk or "worthless". It can also be very volital, and that "pile of gold" you were saving could be worth dirt tomorrow.

Thank you and good day......

Posted: 12/17/2005 9:59:49 AM EDT

[#27]

A while back in the St Louis newspaper, there was a story of people finding their cat convertors sawed out while they left their cars unattended. The main places this was occurring was secluded/remote commuter parking lots, when the people left their cars parked overnight.
~

Posted: 12/17/2005 10:08:24 AM EDT

[#28]

Quoted:
Quoted:
Quoted:
Quoted:

Most catalytic converters have an ounce (+/-) of platinum, palladium or and alloy of the two. Yes they are great recycle candidates.

SRM

If you think about it, this cannot be correct.

We have already established that an ounce of platinum is worth close to $1000.

If a catalytic converter contained contained an ounce of platinum, they would cost far more than that.

Catalytic converters don't cost anywhere near that much.

Someone else gave the answer, but didn't quote the question.

There is approximately 1/20th of a troy ounce. (one pennyweight)
Or about $44.

This is what goes in.

You would never be able to recycle it yourself and make a profit.

Recyclers do, however, buy scrap catalytic converters.
But they buy tons at a time.

I based my statement on some friends who are involved in the industry. According to them, they buy the CC for $40-60 each. Each is said to have up to $600 in precious metals. The amount of Pt/Pd is dependant upon the metal price when the CC was produced. ie, as the price of Pt increases, more Pd is used as the catalyst. If they recycle the converter when Pd is high, they make more money.

Perhaps I ws misinformed.

SRM

As an auto "salvager", I can put this to rest rather easily...

Large Foreign cat.....$97
Regular Foreign....$51
Large GM cat....$64
Medium GM cat....$40
Small....$31
Chrysler....$50

These are current prices PER cat in the Midwest market. Will vary some by region. Cats are sorted and priced by type, and remaining content.This is just a sample of common prices. Depending on who you sell your cat(s) to, they will either resell them for 5-10% more, or process them. In processing, they cut the cat open, empty the contents into a large box to sell, and then sell the SS hulls for scrap. SS is a good scrap as well. The recycling business as a whole can be rather profitable, as you make your money off what people consider to be junk or "worthless". It can also be very volital, and that "pile of gold" you were saving could be worth dirt tomorrow.

Thank you and good day......

IIRC aren't there some pretty nasty chemicals used to reclaim the platinum out of the cats?

My father in law is also an auto salvager. He throws all of his cats into the bed of a dump truck. Once the dump truck fills up(about twice a year) then he sells them off to some guy.

Posted: 12/17/2005 8:44:52 PM EDT

[#29]

Hmm, I've been needing to get a new catalytic converter for my car.

I'll make sure when I do that I tell them that I want to keep my old one, gonna recycle that one myself.

[ARCHIVED THREAD] - Value of Platinum?

General » General Discussion

Warning

Confirm Action

About AR15.COM

Stay Connected

Newsletter

Contact Us