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More About Platinum History

More About Platinum History

Platinum is a very precious metal – more valuable than gold or silver and because it has similar qualities in terms of appearance, shine and malleability, it is sought after as a metal for fashioning jewelry.  Making jewelry is one of the least important uses; it is extensively used in an array of industrial and consumer applications and your modern TV probably would not work without it!

Platinum was discovered in 1741 by Charles Wood, an English metallurgist exploring the island of Jamaica.  The Spaniard, Antonio de Ulloa also shares the credit for discovering platinum after an 8 year expedition to Peru but he noted himself that the indigenous natives had been mining platinum for a great deal longer.

In 1750, William Brownrigg, who had been sent the samples by Charles Wood from Jamaica, presented his analysis of the newly discovered metal to the British Royal Society.  Brownrigg noted particularly the extremely high melting point and other peculiar qualities which sparked the interest of scientists across Europe which was in the grip of the Renaissance and scientific interest was high amongst the cognoscenti of the day.

Platinum was first described as “white gold” by Henrik Scheffer who extensively researched and experimented with platinum – he noted that platinum was stronger than gold but did not oxidize (or corrode) which was a main plus point for any precious metal.  The relative strength of platinum made it unsuitable for use in making jewelry and this was not overcome until Carl von Sickingen discovered how to combine platinum with gold to make an alloy which was soft and capable of being worked.

The modern catalytic converter which helps reduce fuel consumption in modern cars requires platinum to operate effectively – the principle was discovered way back in 1784, more than a century before the invention of the engine, by Franz Karl Achard who developed the first platinum crucible using arsenic (one of the very few substances with which platinum will chemically react).

In Spain, the Age of Discovery gave way to the Age of Platinum when King Charles III funded a laboratory for the Frenchman, Pierre Chabaneau specifically to research this newly discovered white gold.  Chabaneau discovered how to purify platinum and noted how pure platinum would not blend with other elements and compounds which would increase the value of objects made from it.  Moving from scientific endeavor to outright capitalism, Chabaneau went into business making platinum bullion and utensils and made his fortune.

Platinum rested awhile with no significant development or exploitation of the metal until in 1875, platinum was chosen for its inert qualities as the base for the metric system of measurement – a meter (equal to one yard and 3 inches) is defined as the distance between two lines on an alloy bar of platinum (90%) and iridium (10%) – this formed the very basis for modern scientific measurement including the calculations which put man on the moon.  Only with the advent of atomic and speed of light bases for measurement did platinum take a back seat.

Tags: Platinum, Precious Metals

Tips for Selling Old Gold Jewelry

Tips for Selling Old Gold Jewelry

Selling old gold and jewelry is very attractive at the moment because of the exceptionally high prices being paid for gold. The last couple of years has seen an inexorable rise in the price of gold on the markets because of the economic crisis. The reason why gold prices rise in bad economic times is because institutions and governments put their money into gold rather than the stocks and bond market until thing stabilize.

This answers the first question many sellers have – is now a good time to sell?

The answer has got to be yes because the recovery has started and once this takes hold, the price of gold can expect to fall again as demand tapers off. The smart money will no longer be buying gold but investing back into the stock markets instead.

Another question sellers should ask is whether it is only gold which they can sell?

The answer is no – there are buyers for all sorts of precious metals used in making jewelry; platinum and silver are two common metals which are bought by refiners but you should always check before you agree to a deal exactly what you are being paid for and what is being bought. For instance, diamonds are frequently not included in a quote for your jewelry pieces so make sure you remove all precious stones from jewelry before you send them off. You can always sell these stones elsewhere and they are very valuable too so be sure to take a little extra time and maximize the return on your investment.

A further tip is to shortlist gold refiners and avoid jewelers or other middlemen. Refiners are the operations who will actually melt the gold pieces down into component metals and produce pure gold bars (known as ingots) for the market. As they are the producers of the new gold, there is no middleman taking a percentage or profit out of the price being offered to you, so you are more likely going to get top dollar from them.

Selling your old pieces ought to be simple and easy to do, with a secure and insured courier collecting your jewelry and a very rapid response form the company you choose to do business with. You ought to have a quote or offer to buy the jewelry within a couple of days and if you agree, have the check in your bank account within a week to ten days.

Tags: Gold Selling Tips, How to Sell Gold, Selling Gold

Gold History: Facts and Fascination

Gold History: Facts and Fascination

Gold has always played an important part in history. Gold has always been associated with wealth and power throughout time. Gold was one of the first metals to be mined because it commonly occurs in native form. It was mined for its brilliant color and because it was malleable and ductile it could be transformed in many beautiful things.

Artisans of ancient civilizations used gold to decorate tombs and temples. Gold objects that are over 5,000 years old have been discovered in Egypt. Some extraordinary pieces were found in the tomb of Tutankhamun by Howard Carter and Lord Carnarvon in 1922. There were many gold items discovered in Greece that were over 3,500 years old. They discovered gold masks, cups, figurines and jewelry.

It is believed that the ancient civilizations obtained their supplies of gold from various deposits in the Middle East. There were mines in the Upper Nile near the Red Sea and in the Nubian Desert that supplied the gold used by the Egyptian Pharaohs. The gold found in Aztec and Inca civilizations of Mexico and Peru is believed to have come from Columbia.

The Spanish Conquistadores plundered the gold treasures of Indian civilizations during their exploration of the New World. It is believed that many of the gold and silver objects were melted down and made into coins and bars. By doing this they destroyed the priceless artifacts of the Indian culture.

Today nations of the world use gold as a medium of exchange in monetary transactions. The vault of the Fort Knox Bullion Depository is where a large part of the gold stock of the US are stored. Gold in the Depository consists of bars about the size of a building brick and weight 27.5 pounds each. They are stored uncovered in vault compartments.

In 1971 the United States deregulated gold and the price increased markedly. At one point it reached more than $800 per troy ounce. The rapid increase in the price of gold in the 70’s encouraged both experienced and amateur prospectors to search for gold. As a result of the renewed interest in gold many new mines opened in the 1980’s which expanded the gold output.

The largest gold mine in the United States is in the Homestake Mine at Lead, South Dakota. This mine is 8000 feet deep and accounts for almost 10 percent of the total US gold production. Almost fifteen percent of the gold produced in the United States comes from the mining of other metallic ores. Usually where there are metals such as copper, lead and zinc there will be minor amounts of gold deposited with them.

Pure gold is relatively soft and has the hardness of a penny. It is the most malleable and ductile of metals. The basic unit of weight used when dealing with gold is the troy ounce.

Gold is a valued commodity and is used for many different purposes. It is used in jewelry, electrical applications, dentistry, and in the aerospace, medical and chemical industries. Gold has always held a fascination for many cultures for its durability and beauty.

Tags: About Gold, Gold, Gold History