What Is Platinum Worth?
Selling Platinum in Arizona

Platinum is one of the rarest and densest precious metals on earth — about 15 times rarer than gold. Yet most people who own platinum jewelry have no idea what it's worth or how to sell it. If you have a platinum ring, bracelet, coin, or industrial piece sitting in a drawer, here's what you need to know.

Platinum vs. White Gold: The Difference Matters Enormously

This is the most important thing to understand before selling anything you think is platinum. White gold is gold alloyed with white metals (nickel, palladium, rhodium-plated) to look silver. Platinum is platinum — a completely different metal.

White gold markings: 14K, 18K, 585, 750 — these are gold, not platinum.

Platinum markings: PLAT, PT950, PT900, PT850, 950Pt, 900Pt or simply "Platinum."

At current prices, a platinum ring and a white gold ring that look nearly identical can differ in value by hundreds of dollars. Platinum is also significantly heavier — if your "white" ring feels unusually dense, that's a sign it may be platinum.

How Platinum Is Priced

Like gold and silver, platinum has a live spot price quoted in troy ounces. Platinum is typically priced between $900–$1,200/troy oz (historically it traded above gold, though it has traded below gold since around 2015).

Most platinum jewelry is marked PT950 (95% pure platinum) or PT900 (90% pure). The calculation:

• Weigh the piece in grams
• Divide by 31.1 to get troy ounces
• Multiply by purity (0.95 for PT950, 0.90 for PT900)
• Multiply by current platinum spot price

Example: A PT950 ring weighing 8 grams = 0.257 troy oz × 0.95 purity = 0.244 oz pure platinum. At $1,000/oz spot, that's $244 melt value. A good buyer pays $200–$230.

Platinum Coins and Bullion

Platinum coins are less common than gold or silver, but they exist and carry significant value:

• American Platinum Eagle (1 oz): 0.9995 troy oz platinum — worth $950–$1,200+ at current prices
• Canadian Platinum Maple Leaf: 0.9995 troy oz, widely traded
• Isle of Man Noble: Older platinum bullion coin, priced at melt
• Russian Platinum Roubles (pre-1846): Rare historical coins — significant collector value above melt

Modern platinum bullion coins trade at 3–8% above spot when new. For selling, expect 90–97% of spot from a reputable buyer.

Industrial and Dental Platinum

Platinum is widely used in catalytic converters, laboratory equipment, and — historically — dental work. Dental platinum (used in crowns and bridges made before the 1980s) is worth its weight in platinum content. Catalytic converter platinum requires specialized processing that most local buyers don't handle directly.

If you have old dental lab work (bars, bridges, castings) marked or tested as platinum, bring it in. We weigh and test on-site.

Why Platinum Is Often Overlooked

Many sellers don't realize they have platinum. A few reasons:

It looks like white gold or silver. Without checking the stamp, there's no visual difference.

The markings are unfamiliar. "PT950" means nothing to someone who isn't used to seeing it. Many people assume it means the item is 95% of some silver alloy.

It's heavier than expected. Platinum is 60% denser than gold. A platinum ring that looks similar to a gold ring will feel noticeably heavier.

If you're doing an estate cleanout or sorting through old jewelry, don't skip the white or silver-colored pieces. Have anything you're unsure about tested — it takes 60 seconds with XRF equipment and costs you nothing at a reputable buyer.

Selling Platinum in Arizona

YML Refinery buys platinum jewelry, coins, and bullion at our Youngtown location. We test on-site with XRF equipment, reference live spot prices, and pay same-day cash. We serve Scottsdale, Phoenix, Mesa, and the broader Phoenix West Valley.

Open Monday–Saturday, 9am–5pm. No appointment needed. Call with questions: (623) 974-3772.

Frequently Asked Questions

Is platinum worth more than gold right now?

Currently no — platinum typically trades at $900–$1,200/oz while gold is $2,700–$3,000/oz. Historically platinum commanded a premium over gold, but that reversed around 2015 and hasn't recovered. Per ounce, gold is worth more at current spot prices.

How do I know if my ring is platinum or white gold?

Look for the stamp inside the band with a loupe or magnifying glass. "14K," "18K," "585," or "750" means white gold. "PLAT," "PT950," "PT900," or "Platinum" means platinum. If you can't find a stamp, bring it in and we'll test it for free.

Why do some buyers pay less for platinum than gold?

Because platinum spot is currently lower than gold spot — not because platinum is less pure or valuable per se. The market dynamics are different. A 1 oz platinum coin and a 1 oz gold coin are both 1 oz of precious metal, but one is worth $1,000 and the other $2,800 based purely on current spot prices.

Can I sell a partial platinum item — like a piece with some platinum and some other metal?

Yes. We'll assess what's platinum and what isn't, weigh the platinum portions, and price accordingly.