Precious Metals Information & Education - Platinum, Gold, Silver
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The Precious Metals Guide – Platinum, Gold, Silver and more…
"Precious" metals are gold, silver or any of what are now called the PGM or "platinum group metals" (platinum, iridium, palladium, ruthenium, rhodium and osmium); all others are "base" or ''industrial'' metals. "Precious" refers only to their use in jewelry; many "base" metals are extremely valuable to industry. For example, copper is a monetary metal, used in coinage for millennia, and rhenium's value is nearly ten times that of gold, but it's so rare the entire output is committed to industrial use. Likewise, precious metals have industrial applications. Only two-thirds of gold mined and less that forty percent of silver becomes jewelry or coins. The rest goes to electronics, photography, medicine or elsewhere.
Purity is always an important question when buying precious metal. Purity is generally described in "fineness" or parts per thousand. The standard is 999 fine or 99.9 percent pure.
Part of the precious metal mystique is tradition -- silver and gold have been valued as decoration and currency since ancient times. They are rare, but common enough to form a worldwide standard. They are easy to work and they don't rust. The platinum group joined the precious category because their properties are similar to gold and silver, and they are also very pretty to look upon. Recently, some industrial metals have found their way into bracelets, earrings, necklaces and rings because these elements have advantages over precious metals. Today's most common jewelry metals are:
Gold has a magic all its own; rare is the person who does not react when hearing that word. Since man's earliest records, gold has been the ultimate mark of wealth and remains the hallmark jewelry metal.
Pure gold is a very soft and pliable metal. The extreme malleability, ductility, and softness of pure gold make it practically useless for jewelry applications. Jewelry made of pure gold would easily bend and distort in the course of normal wear. To get around this problem, jewelers use an alloyed form known as karat gold (not to be mistaken with metric carat used to measure diamond weight). Alloying increases gold's hardness and provides a variety of different colors. White gold contains about 10 - 20 % nickel, plus zinc, copper, platinum, and palladium. These alloys make white gold a harder metal than yellow gold. Gold content is specified by the codes 14k, 18k, etc. The K (karat) number specifies how many parts, by weight, of pure gold is contained in 24 parts of the alloy. The purity of gold is most often measured in fineness, but Americans still use the karat. Gold jewelry imported from outside the USA may use fineness instead of karats to describe its purity.
Thus:
- 10k = 10/24 = 41.67% pure gold
- 14k = 14/24 = 58.33% pure gold
- 18k = 18/24 = 75.00% pure gold
- 24k means 100% pure (or fine) gold
Gold itself is impervious to tarnishing and requires very strong and dangerous chemicals for it to dissolve.
Yellow gold is gold in its natural state, its shades varying with impurities or when alloyed (mixed with other metals), but even white gold is yellow-tinged. White gold can be of several alloys: Nickel is the least expensive, but some people are allergic to nickel. Platinum, iridium and palladium make more expensive, hypo-allergenic alloys. The whitest gold is actually rhodium-plated gold; this plating won't chip, but does wear off and must be renewed periodically to maintain its best appearance. Other alloys include copper, which makes rose gold and pink gold; silver, which makes green gold; and iron, which makes blue gold. Gold filled is not what it sounds like. It isn't something filled with gold, it is gold filled with something. Most common is a thin gold sheet heat-bonded to brass; second is gold bonded to silver (this is called vermeil). The gold surface is far thicker than "gold plated"; to be sold as gold filled, gold must be 5 percent or more of the total metal weight. In plating the gold layer is electrostaticly deposited on the base metal and may be just a few microns thin. It can chip and will wear off eventually, but the purchase cost is substantially lower, and replating is more economical than buying new.
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The most plentiful of precious metals, silver, is also the most widely used. It was the money standard until the 19th Century in most countries, and almost every 21st Century home has some silver jewelry, silver-plated candlesticks, photographic film, silver coin, etc. Silver must be alloyed for hardness; the best-known alloy is sterling silver, that's any alloy 925 fine or 92.5 percent silver (plus 7.5 percent base metal). Though used most in money or castings, sterling silver jewelry is a growing fashion trend. Jewelry marked "Alpaca Mexico" is generally less pure than sterling -- most often around 900 fine. "Jewelry silver" is a specific alloy, 80 percent silver 20 percent copper.
Silver's one drawback is tarnish, but a new alloy, Platifina (from the Spanish for "fine silver") is 925 silver 10 platinum 65; it is extremely tarnish resistant. "Silver-plated" indicates a very thin layer of silver over base metal. Like gold-plate, the silver can be just a few microns thick, meaning it can chip and will wear off eventually, but, again, replating is less expensive than buying new jewelry. A warning--some silver isn't silver at all. "Nickel silver" (also known as German silver or alpaca silver, along with a few other trade names) is any alloy of copper with nickel or zinc, and sometimes antimony, tin, lead or cadmium. It is silver tone, not silver alloy, and was a low-priced silver substitute in the 19th Century, mostly as a base layer for silver-plating. Because some of these metals are toxic, its use is now heavily restricted. In the US, the principal use of nickel silver is the nickel (5-cent coins are 750/250 copper/nickel). By law, these alloys cannot be marketed in the US as silver.
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Palladium sterling silver is a relatively new alloy with a bright future in jewelry. Sterling silver itself is an alloy consisting of 92.5 percent silver and 7.5 percent base metal, which includes copper. In the palladium sterling silver alloy, palladium replaces part of the copper content. Palladium is one of the precious metals in the platinum group and is prized for its strength and resistance to tarnish. Although silver is a beautiful, shiny metal, its tendency to tarnish is a drawback for anyone who must maintain a large amount of silver jewelry and decorative items. The addition of palladium to sterling silver makes the resulting alloy five times more resistant to tarnish that sterling silver alone. Additionally, palladium sterling silver has a brilliant sheen that is similar to white gold but costs much less.
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Another white metal, platinum, has a short history in jewelry. Brought to Europe by the Spanish Conquistadors, its chemical properties made it difficult to work until the 19th Century, when it began to be used in jewelry. Platinum only gained recognition as a monetary metal in the 1980s, but has become as popular among collectors and investors as it is among prospective grooms.
Platinum is regarded as the preeminent metal for fine jewelry. It is rarer and thus more expensive than gold. The white luster of platinum is unique. It is also the strongest precious metal used in jewelry, and is almost twice as heavy as 14k gold. This weight is one of platinum's strongest selling points, because it gives "heft" to fine jewelry, which people naturally equate with value. Platinum has rapidly grown in popularity in recent years, becoming the new choice for many diamond engagement rings because the luster of platinum is said to bring out the brilliance of diamonds better than gold. Platinum in jewelry is actually an alloyed group of six heavy metals, including platinum, palladium, rhodium, ruthenium, iridium and osmium. These other metals are so similar to platinum in weight and chemistry that most were not even distinguished from each other until early in the nineteenth century. Today it is often alloyed with copper and titanium. It is the only precious metal used in fine jewelry that is 90% to 95% pure, largely hypoallergenic and tarnish-resistant. Platinum jewelry is marked 900Pt, 950 Plat, or Plat. Anything lower must be marked and described as platinum alloy; anything less than 850Pt cannot be sold legally in the US as platinum.
Platinum jewelry costs more than gold jewelry for good reasons: Compared to the common gold alloys, 22k gold or 18k gold, buyers get more precious metal with platinum jewelry. It could also be called "the new and improved white gold"--it is naturally white and stays that way (gold does not). Platinum jewelry does develop a patina that many think gives it a vintage jewelry feel and makes a great background for diamonds or other gems. Denser than gold, platinum is heavier and more durable; it holds gemstones more securely and is hypoallergenic. More rare than gold, it is something few people will ever own. Perhaps most important, platinum will not wear away; the bracelet, earrings, necklace or ring you buy today will be the same on your golden jubilee.
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Used in manufacturing for many decades, the industrial metals are recent additions to the jewelry market. The popularity of stainless steel, titanium and tungsten carbide continues to grow as jewelers and consumers come to appreciate the strength, permanence and modern look of these metals. The jewelry industry labels these materials as 'alternative metals' to distinguish them from the more traditional jewelry metals.
Stainless steel reflects a brilliant shine when it has a polished finish, making steel jewelry very attractive. It resists tarnish and chipping while maintaining its appearance with minimal care. Stainless steel has a composition of iron combined with 10 percent chromium and 0.15 percent carbon.
Titanium is durable yet lightweight; it has about half the weight of steel. Jewelers polish it to a high luster and often add yellow gold accents to the finished items. Titanium is hypoallergenic if it isn't alloyed with nickel, making the metal an excellent choice for body jewelry.
Tungsten carbide resists scratches and damage better than any other jewelry metal, so a piece of tungsten carbide jewelry maintains its polish for many, many years. The grey color is darker than titanium. Tungsten carbide is actually an alloy of tungsten and carbon and the metal derives its strength from this composition. The industrial metals are especially popular in contemporary men's jewelry, and many men choose these metals for attractive, durable wedding bands.
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The jewelry industry is carefully regulated to prevent misrepresentation or fraud. By law, all objects containing precious metals must be clearly and obviously described as to metal type, purity and manufacture, following regulations set down by the US Federal Trade Commission.
Gold and platinum are durable, sturdy and dependable, and make ideal settings for your precious diamond jewelry. However, to get a lifetime of enjoyment from your jewelry, be sure to keep it clean and safe.
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