Dense, malleable, and resistant to corrosion, platinum is a precious metal that never tarnishes. And while platinum often takes a back seat to gold and silver, it’s typically higher in value when a direct comparison of going market rates is made. All this brings us to the topic of whether or not it’s easy to sell this particular type of precious metal. Here’s what you need to know, brought to you by the precious metals experts from First National Bullion and Coin, San Diego collectors’ top choice when they’re looking for dealers with extensive industry knowledge who provide high-quality service.
Selling Processes Vary
How easy it is to sell platinum will depend on what form of platinum you wish to part with and make a profit from. In fact, there are many forms platinum can take. The most common options with this precious metal are:
• Platinum coins
• Platinum bars
• Jewelry made of or containing platinum
Platinum bullion in the form of coins is fairly easy to sell. This is because the quality and purity of officially minted coins is often guaranteed or clearly documented, especially if you made your purchase from a reputable source. For this reason, dealers will typically pay the current market value for your platinum coins, since the value is verifiable.
A word of caution, though: you may want to get your platinum coins appraised if they’re older or possibly of historic value, since these are two factors that can make coins more valuable than the current market rate for platinum. Having a documented appraisal can make it easier to sell such coins and get a fair price.
Platinum also tends to be easy to sell in the form of bars. Similar to what’s normally done with gold bars, platinum bars are typically sold with certificates of authenticity. They’ll also likely have the weight and purity engraved into them. Just the certificates alone should have enough information on them to allow you to receive a fair value for your platinum bars.
Platinum jewelry is a bit iffy, since it tends to be more difficult to sell. How much you’ll get for platinum in this form is often dependent on current market conditions and other economic factors. Plus, platinum jewelry, regardless of market factors, tends to be only worth its refining or smelting value. The value can also be affected by the actual amount of platinum in your jewelry, especially if it’s combined with other metals for decorative purposes. The big exceptions with platinum jewelry are pieces that are older with some type of antique or historic value or ones made by well-known designers.
What to Consider Before Selling
Before you sell any type of platinum, do your homework to get a good idea of how much your platinum is worth. As mentioned above, an easy way to do this is to have your platinum appraised. Additionally, as you prepare to sell your platinum, take the time to:
• Find out what the current market value of platinum is
• Choose a reputable precious metals firm so you know you’ll get a fair offer
• Identify any unique characteristics that might affect value (e.g., year produced, unique designs or marks, overall quality, etc.)
If you live in San Diego, silver bars, platinum coins, gold bullion, and other precious metals of the highest quality are available at First National Bullion and Coin. We buy and sell all kinds of precious metals, including platinum, silver, gold, and palladium. San Diego collectors who are looking for trustworthy dealers and exceptional service should give us a call at 858-666-6570 to speak with one of our precious metals experts.
The statements made in this blog are opinions, and past performance is not indicative of future returns. Precious metals, like all investments, carry risk. Precious metals and coins may appreciate, depreciate, or stay the same in cash value depending on a variety of factors. First National Bullion does not guarantee, and its website and employees make no representation, that any metals for sale will appreciate sufficiently to earn the customers a profit. The decision to buy, sell, or borrow precious metals and which precious metals to purchase, borrow, or sell are made at the customer’s sole discretion.