Platinum Calculator – Work Out the Current Platinum Value
Material Value · Platinum
44.04 €
1.00 g × 1 × 44.0362 €/g = 44.04 €
Buy-back price: The amount a dealer or refinery actually pays. This is typically 2–10% below the melt value, as processing costs and margin are deducted.
950 platinum is the jewellery standard
While gold jewellery in Europe is mostly sold as a 585 or 750 alloy, the usual platinum jewellery is 950 parts per thousand. The reason is not generosity but materials science: even at high purity, platinum is hard enough for settings and shanks, whereas pure gold would be too soft for that and needs additives.
This shifts the calculation considerably compared with gold. In a 750 gold ring, three quarters of the weight is precious metal; in a 950 platinum ring it is 95 per cent. The remaining five per cent is usually ruthenium, iridium or copper – additives that set the hardness.
The hallmark is usually "Pt950", "950 Plat" or simply "950". Older or non-European pieces may be 585 or 750 platinum; the calculator includes both, because they occur in the trade.
Why platinum jewellery is heavier
Platinum has a density of 21.45 grams per cubic centimetre. Gold is at 19.32, palladium at 12.02, silver at 10.49. Two rings of the same shape therefore weigh very differently: the platinum one puts around eleven per cent more on the scales than the gold one – and almost twice as much as its palladium counterpart.
For the material value this means that comparing prices per gram alone is misleading. Anyone comparing the same piece of jewellery in two metals has to factor in the different weight. The calculator does that for you as soon as you enter the actual weight.
Density is also practically useful when checking authenticity: a supposed platinum ring that is too light is made of something else. For a proper check by weight and displacement there is the coin weight checker.
Value-added tax and buy-back
Unlike investment gold, platinum is not exempt from value-added tax in the EU. When you buy bars and coins, 19 per cent is charged. The margin scheme does not apply to bars and coins. You do not get this 19 per cent back when you sell: you sell net.
On top of that comes the dealer's spread. The buy-back price is below the exchange price, and for platinum the gap is usually larger than for gold, because the market is smaller and less liquid.
The value this calculator gives is therefore the pure material value at the current price – not what a dealer will offer. It is useful as a guide, but not as a basis for price negotiation.