Category Archives: Platinum

While we have always refined platinum group metals (PGM’s), we are now officially accepting industrial chemical catalysts for PGM refining.

We have talked to several customers that have worked with unresponsive PGM refiners in the past, waiting up to 23 weeks for their return. Many small businesses cannot wait that long for a return. Our PGM refining services are ideal for customers that have at least 10 ounces or more of PGMs.

Check out the full release about our chemical catalyst refining services.

I have a small quantity of platinum mesh that was used in testing/measurement equipment. I’ve read some of the questions that have been sent to you and understand you offer 70% of the market value, is that correct? How do I send the platinum mesh to you? I can weigh and convert to troy ounces, but what is the time frame to receive payment? Thanks! From Robert in Alma, Michigan.

Hi Robert,

You are correct in that our typical return for industrial platinum material such as platinum mesh is 70% back on the platinum value that is refined.

We always recommend weighing your items at home and please fill out our packing slip. In the special notes section you can put the weight that you had and we will match it to what we find. We will notify you if our findings do not match your description.

Turnaround time on your material should be no more than 7 business days. However, we can normally mail a check after 3 business days of receiving your material. If we have to test or analyze your material further, is what can take longer.

Because precious metal prices are always changing we use the most recent price when your items come into our facility. Platinum is trading at around $1,766 USD per troy ounce.*

Please use this information if you would like to insure your items through the mail. And choose the “Signature Required Upon Delivery” option so that we sign for your package.

*This price may not reflect the current price of platinum, as it is not updated daily as the price changes.

Visit our website to learn more about our platinum refining.
Or view more blog posts related to platinum.

I have about 28 ounces of EP catheters that I would like to sell for the platinum. How does your refining system work after you receive my material? From Judy in Nashville, Tennessee

Hi Judy,

After we receive your material we will analyze it to determine how much platinum is available for platinum recovery. Depending on how much analysis is needed, we can usually return a payment to you in 5-7 business days or less after the material is received. The turnaround time is usually a little faster and we will try and send payment in 3 business days.

We typically pay about 70% of the platinum content by weight. This will depend on the type of platinum EP catheter tips you have. Other factors that will determine the value of your items include the number of electrodes you have, diameter, and weight. The platinum content will vary based on the mentioned criteria.

For shipping we recommend sending your items in a padded mailer or double plastic bags. Makes sure that you choose the “Delivery Signature Required” option when you ship which will ensure that we have received your material.

We also ask that you prepare your EP Catheters by sterilizing the top prior to shipping. Use the method that your hospital recommends. You can also cut the wire so that you are only sending the part that contains platinum. Trimming the wire might also save you on postage and packaging.

I have 2 men’s wedding bands that are 95% platinum. Together they weigh 22.54 grams. Can you tell where I can sell them and how much they are worth? – From Richard in Atlanta, Georgia.

Hi Richard,

As with any jewelry, you can always try to sell platinum rings for their “jewelry value” through a jeweler, pawnshop, or eBay. Of course the market value you may get for used jewelry is very hard to determine and many people are very skeptical about buying jewelry online.

Determining the value when viewed from refining point-of-view is much more straightforward. We refine platinum jewelry based on the weight of platinum available for extraction and the market price of platinum. Platinum prices are determined by troy ounces, so you will need to convert grams to troy ounces.  There are approximately 31.1 grams in 1 troy ounce. So your rings weigh about 0.725 troy ounces. Then we find the market price of platinum, which changes daily.

According to CNN Commodities Prices, platinum is $1,538.70 USD per troy ounce. Based on this, the melt value of your 95% platinum rings is about $1,060. Typically we can return 70% of the fine platinum value based on the weight and market price.

Keep in mind, once again, that refiners like us do not take into account the craftsmanship, quality or brand of jewelry items we refine. If you think any of these items are important to the value of your rings, we would recommend first taking them to a jeweler to have them appraised. If you decide to go this route, try and locate all the paperwork you can about the rings such as the purchase receipts and/or purchase certificates.

The retail value of jewelry is kind of like cars. Once they become “used,” the resale value usually drops considerably. That is why refining outdated or broken jewelry is can be a profitable alternative to pawn shops and resale stores, but it is highly dependent on the marketability of individual items.

I have 41.077 grams of small gauge platinum wire. Where can I sell this and what is it worth? Thanks. From Charlie in Madison, Wisconsin.

Hi Charlie,

While your typical pawn shop or jeweler won’t accept platinum wire, we refine silver and platinum wire from electricians and manufacturing facilities regularly. Our experience is that the platinum wire used in many high temperature industrial furnaces is usually replaced every 2-3 years so we’ve invested in the technology and processing techniques to refine these items.

In regards to its worth, we will need to run some calculations.  First, platinum prices are measured in troy ounces and there are approximately 31.1 grams in 1 troy ounce.  Based on this, you have about 1.32 troy ounces of platinum material. Take this number and multiple it by the market price of platinum, which changes daily and is published on many financial news sites. According to CNN Commodities Prices, platinum is $1,538.70 USD per troy ounce today*. If your wire is pure platinum, the refined metal value would be valued at about $2,032.00 USD.

Of course, we need to refine and convert the platinum wire into a sellable product before we can find a buyer for it.  As such, we typically pay about 70% of the platinum value for a small amount like this to cover our refining costs and related fees.

*Market price of platinum changes daily. This price may not reflect the current price of platinum today.