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| Jennifer Lopez (and her platinum rings) attend Fox's "American Idol" XIII Finale at Nokia Theatre L.A. on May 21, 2014 in Los Angeles. |
Platinum
What’s So Special About Platinum?
BY ALIA HOYT
If
phrases like "platinum status" and "going platinum" are to
be believed, the precious metal is the best and baddest in all the land.
But how
elite is it actually, particularly when compared with its best frenemy, gold?
Platinum
Vs. Gold
Platinum
is a naturally occurring chemical element that is actually about 30 times rarer
than gold, according to Jenny Luker, president of Platinum Guild International
USA (PGI), a marketing organization for the platinum jewelry industry.
"If all the platinum ever mined were melted and poured into an
Olympic-sized pool, the platinum would barely reach your ankles. Gold, however,
would fill three pools," she
explains via email.
In fact,
it's the least common of all the popular precious metals.
In
appearance, platinum is silvery-white and shiny.
Because
it looks so similar to white gold, the distinction can be confusing to the
untrained eye.
"White gold is actually yellow gold that was mixed with other
metals and then plated with rhodium to appear more white — a white mask that
will unveil a yellow tinge over time," Luker
says.
"Platinum, on the other hand, will maintain its naturally white
color."
That's
not to say that it won't change at all, however.
"If you look closely at a piece of well-loved platinum jewelry,
you'll notice a satiny finish on the surface that developed over time. This
change in texture is known as 'patina,'" Luker
explains.
Many
platinum aficionados actually desire this change in appearance.
Platinum
is also more durable than gold, which is one of the reasons it is often the
metal of choice for engagement rings, (gold prongs are more likely to break
than their platinum counterparts.)
Unfortunately,
all of these attributes have given platinum a traditionally heftier price tag
than gold, although Luker notes that the current price difference is minimal.
"Right now, the price per ounce of platinum is actually lower
than gold. However, because platinum jewelry is more pure (typically 95 percent
platinum versus 58.5 percent gold in 14 kt. gold jewelry) and more dense than
gold, it will still cost a bit more than a similar gold ring," she notes.
(On July
9, 2019, the price of platinum was $816.60 per ounce. Gold was $1,397.68 per
ounce.)
How
Platinum Is Mined
Platinum
is mined mainly in South Africa, but also found in Russia and Zimbabwe.
The metal
is formed when minerals are eroded from their original spot and then carried by
water somewhere else (this is called stream bed mining or alluvial mining).
Workers
sift through the sand or mud looking for gold, diamonds or platinum.
Nowadays,
platinum is more likely to be mined as ore from deep underground. Workers blast
rock into small pieces and transport it to the surface for further processing.
Platinum
also may be found as a byproduct of processing other metals like nickel and
copper.
Most
platinum is derived from a mineral called cooperite, also known as platinum
sulfide.
Platinum is even found in outer space. "Platinum has also
been discovered in heavy concentrations in meteorites — first reported in F. G.
Hawley's research papers, published in 1939," Luker says.
Although
platinum's strength and beauty have made it a jewelry favorite since the
ancient Egyptians and Mayans, jewelry-making is hardly its only useful
application.
About
half of platinum's demand is actually for use in catalytic converters for
transportation vehicles like buses, cars and trucks, in large part because it's
adept at converting harmful engine emissions into less damaging waste.
Platinum
is also used as a catalyst to make chemicals like silicone, nitric acid and
benzene.
In fact,
the six platinum group metals (iridium, palladium, platinum, rhodium, ruthenium
and osmium) are all known for their impressive catalytic skills (meaning these
metals increase the rate of chemical reaction between substances without
changing their physical properties.)
In the
healthcare field, platinum compounds are a component of some chemotherapy
drugs, and are also used in pacemakers and even dental fillings.
The
electronics industry has various applications for platinum, too — for instance,
computer hard disks.
From a
defense standpoint, platinum has been long valued for its strength, which goes
far beyond simple scratch resistance.
The metal
holds up well under high temperatures, boasts stable electrical properties and
is highly resistant to chemical attacks.
For
example, coating jet engine blades with platinum-based products protects them
where temperatures can reach 2,000 degrees C (3,632 degrees F).
"Platinum was an important strategic defense metal used during
World War II and was not allowed for jewelry application at that time," Luker says.
Even today, platinum is so important to economic and defense efforts
that it was listed as one of the 35 minerals "deemed critical to
U.S. national security and the economy."
With a
resume like that, it appears that platinum's reputation and price tag are
well-deserved, indeed.
NOW
THAT'S MISGUIDED
Ironically,
Spaniards who discovered platinum in Colombia were less than impressed, tossing
it by the wayside as an impurity in the coveted silver they were mining.
So disdainful
of the metal were they that they dubbed it "platina," which means
"little silver." From this term, we get the English word
"platinum."
Alia Hoyt
CONTRIBUTING WRITER
Alia is an Atlanta-based freelance writer who
has contributed content to HowStuffWorks for going on a decade now, with a
specialty in health writing. She’s also been published by TLC, Animal Planet,
and a number of corporate clients. She holds a bachelor’s degree in journalism
from the University of Georgia (Go Dawgs!), and might someday get around to
setting up a professional website. Until then, check her out on LinkedIn.
She and her husband are proud parents to three handsome, too-smart-for-their-own-good boys. Alia is a passably not terrible tennis player, lover of all things dance and music, brownie-obsessed, avid reader and off-key car singer. Her two favorite types of people are those who have a healthy sense of humor and those who actually read articles in their entirety before posting comments.
She and her husband are proud parents to three handsome, too-smart-for-their-own-good boys. Alia is a passably not terrible tennis player, lover of all things dance and music, brownie-obsessed, avid reader and off-key car singer. Her two favorite types of people are those who have a healthy sense of humor and those who actually read articles in their entirety before posting comments.
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