Compare to Other Places to Sell Jewelry
Cash for Gold USA
Cash for Gold USA will buy gold of any karat from 8k to 24k, and in any form, even scrap
Quick processing time for quotes – within 24 hours once gold is received
Free FedEx shipping label insured up to $5000 for you to send your gold
Express Gold Cash
Sell any jewelry – bracelets, rings, necklaces, watches, earrings, coins, platinum
Free, overnight shipping for your items with insurance for up to $5,000
Accept the offer, and receive your payment within 24 hours or get a free return
How Much Is Platinum Worth?
Platinum is a precious metal that is highly durable and resistant to most forms of corrosion. These characteristics have contributed to an increase in its popularity as a material for jewelry, among other things. The price of platinum follows the price of gold closely, and the two metals are affected by the same market forces.
Some of the factors that can affect the market price of platinum include:
- Supply of platinum from mining operations
- Status of the auto industry as platinum is used in automobile manufacturing
- The popularity of platinum jewelry
- Demand for platinum by precious metals investors
Between August 2021 to August 2022, the price of platinum fluctuated between $27 to $37 per gram. Most recently, the value of platinum has been hovering around the $30 per gram range. However, fluctuations in the price are common.
If you intend to sell platinum jewelry or other platinum items, check the latest market price for platinum to ensure you get a reasonable offer.
Where Can I Get the Most Money for Platinum?
If you own platinum jewelry or other platinum items, you might be wondering where the best places to sell platinum are. Depending on various factors like your neighborhood and the type of platinum you own, the answer may be different. Nonetheless, here are some of the best places to sell platinum and the benefits of each one:
|Best Places to Sell Platinum||Benefits|
|Cash for Gold USA||Receive payment within 1-2 business days via check, PayPal, or a bank wire.|
|Express Gold Cash||Get up to $100,000 worth of insurance on high-value transactions.|
|Luriya||The scales they use for weighing platinum jewelry are certified by the New York State.|
|Southwest Jewelry Buyers||Get an instant appraisal and offer when you visit their Arizona store.|
|Local Pawn Shops||Get an offer on the spot and get paid instantly if you accept the offer.|
5 Best Places to Sell Platinum
Cash for Gold USA
While Cash for Gold USA is a website specializing in buying gold, the company will also purchase other precious metals, including silver and platinum. The company will purchase any item as long as it contains a precious metal listed on its website.
Some of the things that the company will buy include:
- Scrap platinum
- Dental filler
- Gold and silver wires
- Platinum jewelry
- And many more
Selling your platinum to the company is incredibly easy, and you can do so by shipping it directly to them. They will even provide you with a free shipping label and materials so you can sell your platinum from the comfort of your home.
Once you mail your platinum to the company, they will appraise it once it reaches them. Then, you will receive an offer from them that you can accept or reject. If you accept their offer, you will get your payment via check, PayPal, or bank transfer, typically within 1 to 2 business days. Otherwise, they will ship your platinum back to you for free.
Express Gold Cash
Express Gold Cash is an online gold broker. However, the company also states on its website that it purchases platinum in all forms. Thus, if you own broken platinum jewelry or even platinum scrap, you can sell it to Express Gold Cash to make some money fast.
You can request a free appraisal kit on the Express Gold Cash website that they will mail to you. This kit will enable you to estimate roughly how much your platinum is worth. With this information, you can decide whether or not it is worth mailing your platinum to Express Gold Cash for sale.
All your shipments to Express Gold Cash have insurance for up to $5000. You can even request up to $100,000 in insurance on high-value transactions.
Luriya is a jewelry broker that is in New York. The company specializes in buying platinum jewelry, including platinum rings, chains, necklaces, and other accessories. You can get a free online appraisal for your platinum jewelry just by submitting a picture of it to the company.
If you do decide to sell your platinum jewelry to them, Luriya will provide you with a free mail-in kit that you can use to ship your jewelry. Thus, you do not need to live in New York to sell your platinum jewelry to Luriya.
The scales that Luriya uses when weighing platinum jewelry are also certified by the New York state. Thus, you can rest assured that you will get a fair price when you sell your platinum to Luriya.
Local Pawn Shops
Local pawn shops also offer a great avenue for conveniently selling platinum in your neighborhood. In general, you can get a free appraisal and a no-obligation offer by physically bringing your platinum jewelry or item to the pawn shop.
However, you should bear in mind that not all pawn shops purchase platinum. Moreover, those that purchase platinum may also do so at a rate that is far below the market rate. You can find local pawn shops by simply doing a Google search for “pawn shops in [insert the name of your neighborhood or city]”.
To ensure that you do not get scammed and get the best price possible for your platinum, follow these steps:
- Call the shop ahead of time to see if they purchase platinum items and the rates they pay for them.
- Look for online reviews on the shop to see what other customers have had to say about their selling experiences.
- Check the market price of platinum to get an estimate of how much you can get for your platinum. Remember to consider that a pawn shop will likely offer you a lower price than the market rate because they need to make money when they resell your platinum.
- If you are selling a large quantity of platinum, you can consider getting a professional appraisal to find out what it should be worth.
Southwest Jewelry Buyers
Southwest Jewelry Buyers is an Arizona-based jewelry dealer that buys gold, silver, and platinum jewelry. While you may not be able to sell your platinum scraps to them, they offer good prices on all the platinum jewelry that they buy.
However, unlike other platinum buying companies, Southwest Jewelry Buyers does not offer mail-in services. Thus, you will need to make an appointment to visit the company’s store in Scottsdale to get an appraisal for your platinum jewelry.
Thus, unless you live in Arizona or a nearby state, you may be better off using an online platinum buying service such as Cash for Gold USA.
Other Sites to Sell Platinum
Alternative Websites to Sell Stuff
Frequently Asked Platinum Questions
Is platinum hard to sell?
Compared to other precious metals like gold and silver, platinum is generally more difficult to sell. Nonetheless, with the emergence of online brokers in recent years, it is now easy for you to get an offer for your scrap platinum and platinum jewelry regardless of where you live.
Is there any resale value for platinum?
Yes, platinum is a precious metal, and the resale value for platinum can be comparable to the resale value for gold.
Can you sell raw platinum?
You can sell raw platinum but only to some buyers. While many pawn shops and jewelry dealers will only buy platinum jewelry, some online brokers such as Cash for Gold USA will pay you for your raw platinum and platinum scraps.
Where to sell a platinum ring?
If you want to sell a platinum ring, it may be ideal to sell it to a dealer or broker that specializes in buying platinum jewelry. Some options include:
|Platinum Jewelry Dealer||Ideal For|
|Luriya||Online appraisals and mail-in sales|
|Southwest Jewelry Buyers||People who live in or around Arizona|
|Local pawn shops in your neighborhood||Selling platinum rings conveniently|
How much can you get from selling platinum?
Most, if not all brokers will only pay you based on how much platinum there is in your item. For example, if you have a 100g platinum chain that is only 50% pure, there is only 50g of actual platinum in it. Thus, you will only get paid for 50g worth of platinum.
You can calculate the market value of your platinum item by multiplying the actual weight of the platinum in it by the market price for platinum. For example, a ring with 10g of platinum will have a value of $300 when the market price for platinum is $30.
Note that you will not be able to get the full market value for your platinum when you sell it to a pawn shop, jewelry dealer, or precious metals broker. You can expect an offer that is several percentage points lower than the market value of your item.
How much can I sell my platinum wedding band for?
As mentioned above, the value of your platinum wedding band will depend on the actual weight of the platinum in it. If you are still unsure about how to calculate this, you can request an appraisal of your platinum wedding band from a professional jeweler.
Is it a good time to sell platinum?
The value of platinum varies based on market forces. Thus, the price of platinum tends to fluctuate a lot and could easily increase or decrease at any time. You need to determine whether you are comfortable with the current market price for platinum when deciding whether or not to sell your platinum.
Moreover, many market factors seem to be driving the price of platinum up soon. Thus, unless you need cash urgently, it may be better to hold onto your platinum for the time being.