Looking to earn extra cash? You might be surprised to learn that selling platinum scrap can be lucrative. Platinum, a rare and valuable metal, isn’t just found in bullion bars and investment coins— it’s widely used in small amounts for automotive fuel cells, computer hard drives, jewelry, and thermocouples.
When these products break down or become obsolete, you can harvest the platinum to sell it for cash. At AU Precious Metals, we buy a variety of platinum items, enabling you to convert your unwanted scrap into currency. Discover where to find platinum scrap, bring it to us, and get ready for a lucrative trade-in offer.
Where to Find Platinum Scrap to Sell for Cash
Platinum can be found in many household objects and workplace scrap, from jewelry to industrial equipment parts. Here’s a guide to the best sources on where to find platinum scrap:
AU Precious Metals offers specialized services in assaying and valuing precious metals like platinum, including old or unwanted jewelry. We welcome a wide variety of platinum jewelry types, including:
- Wedding bands
- Fashion rings
- Pins or brooches
- Luxury watches from any brand, model, and year of production
Your platinum jewelry holds value, even if it’s broken or damaged. We welcome pieces in any state, provided they have a significant amount of precious metal. Our team is prepared to assess and convert these items into cash, ensuring you receive a fair price for your platinum scrap.
Platinum coins are valued for their precious metal content and appeal as collector’s items. If you believe some of the coins in your collections contain platinum, visit AU Precious Metals to have them analyzed.
We can determine what types of coins you have, their exact platinum content, and how much they are worth on the market today. Coins to look for include:
- Investment coins. Government mints regularly produce investment coins out of high-purity, investment-grade platinum. Typical examples include American Platinum Eagles, Canadian Platinum Maple Leafs, and Australian Platinum Platypus Coins.
- Historical coins. Although rare, some governments have issued coins made using platinum. These coins are valued due to their age, historical significance, and precious metal content. Well-known examples include 19th-century Russian 3-ruble, 6-ruble, and 12-ruble coins.
Scrap Industrial Materials
AU Precious Metals buys any type of scrap industrial equipment and materials containing platinum. These items may contain pure platinum or alloys with other precious metals, such as gold, palladium, and rhodium.
Examples of platinum industrial materials we purchase include:
- Crucibles. Often used in laboratories and industrial settings, these containers are made of platinum due to its high melting point and resistance to corrosion.
- Electrodes. Platinum electrodes are found in various electrochemical applications, such as in medical devices or industrial electrolysis processes, because of their excellent conductivity and stability.
- Platinum sponges. These are used in chemical processes as catalysts. They have a large surface area, making them effective for reactions. Platinum sponges can be sourced from chemical laboratories or industrial catalyst suppliers.
- Platinum flakes. Commonly found in the residue of chemical reactions or as a byproduct in certain manufacturing processes, these flakes are small bits of platinum.
- Thermocouple wires. Used in high-temperature measurement devices, these wires are found in several types. We accept the following:
- Types B, R, S. These are platinum-rhodium alloys commonly used in industrial temperature measurements due to their accuracy and reliability.
- Type P (Platinel II alloy). A specialized alloy used for its unique temperature-measuring properties.
- Platinum-palladium. A blend used for its resistance to high temperatures and corrosion.
- Gold-platinum. A combination used in specialized applications for its unique electrical properties.
Scrap Medical and Scientific Equipment
The medical and scientific industries use many types of platinum equipment and parts. When these objects reach the end of their lifespan, they become valuable sources of scrap platinum. AU Precious Metals buys platinum medical and scientific scrap, including:
- Lab dishes and platinum labware. These are commonly used in scientific laboratories for their resistance to high temperatures and chemicals. Platinum labware includes dishes, crucibles, and other containers.
- Select pacemaker parts. Certain components of pacemakers, particularly those that require reliable conductivity and biocompatibility, are made with platinum.
- Dental crowns and bridges. Platinum is sometimes used in dental prosthetics for its strength and non-reactive properties. It can be found in the alloy mix of some crowns and bridges.
- Catheter tips and guide wires. Platinum is used for catheter tips and guide wires in medical procedures like cardiovascular interventions. These are often found through medical waste processing facilities or defective pieces from medical device manufacturers.
What is the Value of Scrap Platinum?
The value of scrap platinum depends on the metal’s quantity and purity. The more platinum you have and the purer it is, the more money you can receive by selling it.
Scrap platinum value is based on the metal’s current spot price, which provides a dollar value for a set quantity per troy ounce. When you sell platinum, your precious metals dealer will assay the item to determine its purity, weigh it for an accurate troy ounce measurement, and offer a payout based on the spot price.
For example, on November 20, 2023, you bring in a piece of jewelry containing 4 troy ounces of platinum with 99% purity. Based on the spot price that day, platinum was $918.60 per troy ounce. That means you could receive around $3,674.40 minus any premiums charged as part of the transaction.
How to Sell Your Platinum Scrap
If you have platinum scrap for sale or need help determining your items’ precious metal quantity and purity, visit AU Precious Metals. Our experienced staff can examine your items to determine what your platinum scrap is worth and offer a fair price based on the current value of platinum.
We use non-destructive, X-ray-based assaying methods to avoid damaging the metal. This includes an XRF Spectrometer device that uses X-ray technology to detect and measure 22 elements per reading. The process is beneficial for scrap, as it may contain varying amounts of platinum at different purity levels.
If you can’t visit us in person, take advantage of our mail in program in Rochester, Michigan, and sell your platinum scrap from the comfort of your home. Start by filling in your contact information to request your shipping label.
Once you receive it, ship your platinum to us in the provided envelope. We will use the same assaying methods and contact you with an offer. We’ll reimburse shipping costs if your items are worth $5,000 or more. We can pay in wire transfer, bullion, check, or cash based on your preference.
Sell Your Platinum Scrap with AU Precious Metals
Platinum, in its many forms, from old coins to used and broken industrial equipment, is a high-value metal. If you have unwanted platinum items or scrap pieces, get cash for your find with AU Precious Metals.
Visit us in person at our locations in Rochester, MI, or Novi, MI, or contact us today using our online form. We can help you learn more about where to find platinum scrap and pay top dollar for your items.