What is Platinum? Interesting Platinum Facts and Uses

Platinum has long been associated with luxury and exclusivity. Marketers use the word to tell us that an item or service is desirable and of high value – the best of the best. We feel this way about the word platinum because the metal itself is so highly regarded. Though it looks similar in appearance to silver or white gold, we can’t help but be drawn by its intoxicating rarity.

Platinum is best known for its use in high-quality jewellery, but there’s much more to it than the silvery sparkle it brings to rings and bracelets. Here you can learn fascinating platinum facts that will renew your admiration for this prestigious metal. You’ll discover what platinum is used for and the interesting properties it possesses. And if you’re lucky enough to own platinum pieces, you’ll learn how to take care of this valuable, rare metal.

What is platinum?

We don’t know for sure when humans first discovered it, but we can see from early Egyptian artefacts (including Queen Shapenapit’s casket) that this metal has probably been in use in some parts of the world for well over three thousand years.

Platinum is part of a collection of metals known as the platinum group metals (PGM). Alongside platinum, the PGM includes palladium, rhodium, ruthenium, osmium and iridium. When you mine platinum, it is often found alongside one or more of these other PGMs.

This precious metal can be found in sand or gravel beds, such as in streams and rivers. Mining for platinum also takes place underground in a costly, time-consuming process.

The name platinum comes from the Spanish word platina, meaning small silver. Platinum is not widespread – it is concentrated within just a few countries and regions. These include South Africa, Russia, Canada, The United States, South America and Australia.

How rare is platinum?

We pay such a premium price for platinum because of its scarcity. There are only five parts per billion in the Earth’s crust, making platinum thirty times rarer than gold.

Only a few hundred tonnes of platinum are mined and produced each year, far less than gold or silver.

What are the properties of platinum?

Historically, platinum was known as the un-meltable metal. It has a very high melting point of 1,768°C – hundreds of degrees higher than silver and gold.

Platinum is exceptionally dense at 12.4 ounces per cubic inch, making it six times denser than diamond. Dense though it is, it is useful metal thanks to its malleable nature. This malleability allows platinum to be readily shaped when making jewellery or mechanical parts. It’s also a ductile metal, meaning it can be drawn out into threads, allowing platinum wire to be created.

Platinum is extremely unreactive, meaning that exposure to the environment and substances like acids, oxygen and water won’t alter its appearance easily. This is another property that makes it a superior metal for jewellery making since it won’t rust or discolour.

What is the history of platinum use?

The ancient Egyptians used platinum decoratively and made jewellery using this metal, often mixed with gold. In ancient South America, the indigenous people crafted ceremonial jewellery such as nose rings out of platinum.

There was then something of a global historical hiatus in platinum’s use after this time, and it wasn’t until the Spanish conquistadors explored South America that platinum came onto the radar again. Though the 17th-century Spaniards found platinum while they were mining the rich gold supplies in the country, they initially cast the platinum aside in favour of gold.

In the 18th century, Spanish mariner Antonio Ulloa drew attention to platinum when he discussed the science of the metal – with much interest in its ability to resist corrosion and tarnishes. Having brought the metal back to Spain, the country took great interest in platinum, notably the ruler Charles III. He ordered a laboratory for scientists to study it, leading to Spain’s “platinum age”. Platinum ingots and utensils traded very successfully within the country and then beyond.

British chemists William Hyde Wollaston and Smithson Tennant, during this century, formulated a technique for purifying platinum using nitric acid. A similar method is still used to this day.

By the end of the 18th century, platinum’s use in jewellery had become well-established, with craftsmen like the Cartier family working with it. Seen as a “new” metal and one that was hard to master, platinum jewellery became sought after, especially in wealthy and aristocratic circles.

During this period, platinum was found for the first time in Russia, allowing for greater accessibility to the metal. In the 19th century, it was also discovered in Canada; with more of the metal to experiment with, the uses of platinum began to grow.

What is platinum used for?

Following the historical trend, platinum remains a desirable metal for jewellery work, but it has many other uses.

Since the early 19th century, platinum has been incorporated into catalytic converters for vehicles, where its physical and chemical properties make it a usefully stable and unreactive component. Today, around half of our mined platinum is used to make these catalytic converters. As you might imagine, platinum is so well-suited to this role because it can be taken to a very high temperature without liquefying. This property is also crucial for its use in missile cones and jet engine blades, where temperatures can soar.

Because it can be readily shaped and remain chemically stable, it is used to make laboratory equipment, electrodes, thermometers and electrical contacts.

Thanks to this stability and its resistance to corrosion, platinum can be utilised in structures that need to be placed or kept within the human body, such as dental crowns, catheters, stents and even pacemakers. Being non-toxic, it is perfectly safe to ingest platinum or have it sitting within tissues, teeth or bone.

A further medical use for platinum is its inclusion in drugs for cancer patients. In fact, up to half of all cancer patients receive a medication containing this rare metal. The anti-cancer drugs cisplatin, nedaplatin and lobaplatin are all platinum medications that play an essential role in specific chemotherapy regimens. Platinum is used as an anti-cancer agent thanks to its ability to damage the DNA within cancerous cells.

Platinum is also used as a catalyst in the production of nitric acid, benzene and silicone.

Is platinum more valuable than gold?

Because platinum is rarer than gold (up to fourteen times more gold is mined per year), platinum and platinum jewellery can be more expensive than the equivalent in gold. Interestingly, gold remains the favoured metal for investment because platinum is so widely used in the automobile industry, has a smaller market than gold and platinum futures are less actively traded than gold futures.

Intriguing platinum facts

Now that you’ve familiarised yourself with some essential information about platinum, it’s time to explore the more unusual and fascinating facts about this rare metal.

  • During World War II, platinum was not allowed to be used in jewellery production because it was such a vital component in strategic defence engineering.
  • Platinum can be used to make super-strong magnets. Though this metal is not itself magnetic, it can be alloyed with the likes of cobalt to make notoriously strong or permanent magnets.
  • There is far more platinum in space than there is on Earth. We know that the moon and our observable meteorites offer a richer source of this metal than the crust of the Earth. The asteroid Psyche 16, which passes between Mars and Jupiter, is believed to hold a great deal of platinum, and NASA plans to send exploratory crafts onto this space rock.
  • Platinum has been found in Ireland, with deposits identified in stream sediment in the Southern towns of Tinahely and Aughrim.
  • A six-inch cube of platinum is so dense it weighs the same as the average adult.
  • The international metric kilogram is represented by a cylinder of platinum at the Bureau of Standards.
  • Platinum is used in currency, including the American platinum eagle, the Canadian platinum maple leaf, the Chinese platinum panda and the Isle of Man noble.
  • The first platinum coins were minted by the Spaniards who colonised South America.
  • Platinum-lined vessels are used in the glass industry, including in producing glass fibre.
  • Platinum can, over time, be corroded by sulphur, halogens and cyanides.
  • Just four mines (one in Russia and three in South Africa) account for 90% of the world’s platinum production.
  • As well as being extracted from platinum mines, this metal is also produced when nickel is refined.
  • Luxury jewellers use platinum for their limited-edition pieces because they know this will increase the long-term value of their jewellery.
  • King Louis XVI of France heralded platinum the “only metal fit for kings”.
  • The crown made for the Queen Mother for her coronation as the consort of King George featured a frame made of platinum, making it the first British crown to contain this metal.
  • Platinum was used in the first infamous Faberge Easter eggs.
  • The Hope diamond, a famous sizeable blue-coloured diamond, is set in platinum.
  • Although you can mine pure platinum, often it is found alloyed with the likes of iron, copper or gold.
  • When pure platinum is found in nature, it is referred to as native platinum.
  • Before platinum nuggets are processed, they have a dull, grey or even black appearance.
  • Historically, platinum was so cheap it was used in frauds, passed off as silver which was originally much more valuable than platinum.
Care tips for platinum

As stable and unreactive as platinum is, if you own platinum jewellery, there are still care tips you should follow to keep your items looking their best. Though time will not fade or tarnish your platinum jewellery, the metal can scratch and may develop a patina.

To take the best care of your platinum jewellery, be sure to adhere to the following rules:

  1. Always take off platinum rings before handling harsh chemicals (including bleach and ammonia) or abrasives.
  2. Don’t wear platinum jewellery when gardening, working out at the gym (especially if you’re lifting) or performing manual labour.
  3. Store platinum pieces separately in your jewellery storage cases to avoid scratches.
  4. Conduct your monthly platinum jewellery cleans using a mild soap solution or specialist platinum cleaner and a jewellery brush (or a soft child-sized toothbrush).
  5. Have your platinum jewellery professionally cleaned annually.
  6. For damaged platinum jewellery, demand platinum repairs rather than white gold repairs. Fail to do so, and you will find the appearance and integrity of your platinum jewellery declining over time.

Another vital care tip for your platinum jewellery is the insurance of your pieces. Not only does platinum jewellery come with a high price tag, but the metal is also often used in engagement or wedding rings. This means your platinum jewellery may rank highly on the sentimental front too. Protecting your platinum with a specialist jewellery insurance policy gives you the peace of mind that allows you to wear and enjoy your accessories with confidence.

With over 130 years of experience insuring jewellery, TH March offers you the safest of hands for your jewellery. With competitive insurance premiums and a wealth of jewellery insurance knowledge, you know your platinum pieces are well cared for with TH March. If you’d like to find out how we can help with your platinum jewellery insurance needs, contact us today.

Read our other posts

How to Cope in Hot Weather

How to Cope in Hot Weather

Although warmer weather is usually welcome, it’s important to understand that too much heat can be a health hazard. In fact, last summer’s hot weather caused an additional 1,634 deaths, according to government data. And it isn’t just heat that’s the problem; humidity is a contributing factor too. With dry heat, sweat evaporates, taking heat […]

Congratulations to our March Star Winners for July 2022

Congratulations to our March Star Winners for July 2022

The March Star Award  acknowledges and recognises staff for their hard work, going above and beyond and for fulfilling the TH March Values. They are nominated by staff for staff! Congratulations go to Kay Slater, Account Handler, Personal Insurances Team, National Service Centre Kay joined THM in August 2021 and works in the Personal Insurances Team as […]

Home: Using Electric Fans Safely

Home: Using Electric Fans Safely

A good electric fan can work wonders by wicking heat and sweat away from your body. However, in doing the job to cool you, surprisingly, electric fans can get rather hot themselves. This can present a fire risk, hazardous to both you and your family. Reduce fire risk and stay safe this summer by considering […]

What Individuals Can Do To Support Net Zero

What Individuals Can Do To Support Net Zero

Climate change—the long-term shift in temperatures and weather patterns—is a global issue currently receiving much media attention. And, with the scale of extreme weather seen over the past few years—from bush fires in Australia to frequent flooding in the UK—it’s easy to see why. It’s clear that our climate is changing, and what’s also evident […]

Congratulations to our March Star Winners for June 2022

Congratulations to our March Star Winners for June 2022

The March Star Award  acknowledges and recognises staff for their hard work, going above and beyond and for fulfilling the TH March Values. They are nominated by staff for staff! Congratulations go to Megan Hansford, Accounts Assistant, National Service Centre Megan joined THM in June 2021. Megan is AAT Level 3 qualified and this is the first […]