Is there any way to tell if my platinum ring is pure platinum? — Beth in Stillwater, OK

The two most common purities of platinum used in jewelry are:

Plat – 950 Plat is considered nearly pure platinum and usually contains 95% platinum and 5% iridium.  It is quite expensive and typically the highest grade of platinum available for jewelry making.

IridPlat – This platinum is 90% pure platinum with 10% other metals mixed in…typically iridium. These rings can be marked with a hallmark of “.90 Plat” as well and therefore have a slightly lower melt value than their purer platinum counterparts.

Obviously pure platinum will yield higher returns, however at around $1,322.00/troy ounce, platinum alloyed with other materials can return a surprisingly high melt value.