Platinum Ingots Stacks Together

Although gold and silver are the better-known precious metals you can exchange for cash, there is another material to consider if you’re looking to make some quick cash: platinum.

Platinum prices have soared recently. It has become so popular that it is one of just four metals to possess an ISO 4217 currency code(XPT) alongside gold, silver, and palladium.

If you have scrap platinum you want to get rid of, you can trust AU Precious Metals to give you top dollar.

Properties of Platinum

Although platinum prices constantly fluctuate, just like all other precious metals, it is known to be much rarer than gold.

Approximately 180 tons of platinum are mined out of the Earth’s crust each year, nearly ¾ of which comes from South Africa. In contrast, gold production typically ranges between 3,000 and 3,300 tons per year.

Melting a gold bar requires a temperature of 1,947.2°F. In contrast, a platinum bar will not melt until it reaches 3,214.4°F, 65% higher than gold. This makes platinum a preferred metal in many industries that require this resilience.

Platinum Diamond Ring

Applications of Platinum

Platinum has numerous uses, grouped into five major categories:

  • Automotive industry: Platinum and other platinum group metals are frequently used to construct catalytic converters.
  • Laboratory equipment: Electrodes and electrical contact often feature platinum plating due to the metal’s conductivity.
  • Medical sector: Platinum is highly biocompatible, making it an ideal material for dentistry, such as dental fillings.
  • Investment: Platinum is minted into coins and bullion by some of the world’s most prestigious mints.
  • Jewelry: Platinum is a popular material for engagement rings. It is also sometimes alloyed with gold to produce a type of what the industry refers to as “white gold,” a gold alloy with a whitish color.

We Want Your Scrap Platinum Items

AU Precious Metals is a top precious metal purchaser in Michigan. We buy virtually all types of platinum items, such as watches, coins, bullion, industrial materials, medical equipment, and more.

Many business owners don’t realize the value of certain waste materials, like platinum scrap. Construction companies, auto shops, and manufacturing facilities operate machinery and technologies built with precious metals. For example, the primary catalyst for catalytic converters is platinum.


Platinum is one of the most popular materials for luxury watches, alongside gold and silver. The precious metal’s properties (color, density, hardness) result in luxury watches renowned for their weight and luster. Even the oldest platinum luxury watches will usually maintain their value for a long time.

AU Precious Metals can assay and evaluate the exact value of your platinum watch, regardless of its age, make, or model.

Coins and bullion

AU Precious Metals buys platinum coins and bars made from prestigious mints such as PAMP Suisse, the Royal Canadian Mint, or the United States Mint.

Examples of coins using platinum include the following:

  • Platinum American Eagle
  • Canadian Platinum Maple Leaf
  • Isle of Man Platinum One Noble coin
  • Chinese Platinum Panda series

Industrial materials

AU Precious Metals accepts platinum scrap and used industrial materials, such as thermocouple wires, crucibles, platinum flake, and platinum sponges. Only specific types of thermocouple wires contain platinum: Types B, R, and S (platinum-rhodium alloys), Type P (Platinel II alloy), platinum-palladium, and gold-platinum.

Medical and scientific items

Specific medical and scientific objects employ platinum in their construction, such as electrophysiology catheters, certain pacemaker parts, and other equipment.

AU Precious Metals uses advanced X-ray spectrometry technology to analyze the exact composition of your platinum elements, determine their purity, and calculate their actual value.

Send Your Items Today

At AU Precious Metals, we buy platinum, gold, silver, and many other precious metals. Our staff has the knowledge and equipment to assay your metals locally, resulting in better value for you.

Lastly, as precious metal brokers, we don’t just buy bullion in platinum. We also deal in palladium, gold, rhodium, and silver. Contact our friendly customer service at (248) 833-6133 for more information and schedule an appointment today.

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