Interesting Facts About the Value of Platinum

Platinum is a precious metal that is sometimes referred to as the “Rich Man’s Gold” or “White Gold” because it is just as beautiful, but rarer than gold itself. Continue reading to learn why platinum is so valuable.

Precious Metal Recycling 1-888-586-5322

Precious Metal Recycling 1-888-586-5322

Attributes of Platinum

Platinum is a dense, malleable, and ductile metal with a silvery-white color and sheen. It is a chemical element that is assigned the symbol “Pt” with an atomic number of 78. It is considered a precious metal, making it more valuable in terms of profit. The word “platinum” is derived from the Spanish word, “Platina”, which means “little silver.” It is a heavy metal, heavier and denser than gold. One cubic foot weighs a little more than 1,330 pounds, and is about 11% denser than gold. That means that a 6 inch cube of platinum would weight about as much as you do!

Uses for Platinum

Platinum is a highly sought-after metal because it offers so many applications and uses. It is a nonreactive metal, and highly resistant to corrosion. That is why it is also considered to be a “noble metal”, which are metals that are resistant to corrosion and oxidation. Platinum won’t rust! This is why it is commonly used in the jewelry industry. For these same qualities, platinum is also commonly used to manufacture automotive parts (catalytic converters), laboratory equipment, electrical contacts and electrodes, platinum resistance thermometers, dentistry equipment, and much more.

Scarcity of Platinum

Platinum is very scarce. In fact, it is one of the rarest elements found in the Earth’s crust. This is one of the primary reasons why it is so valuable. It is simply an economic matter of supply and demand. You see, there are approximately 130 tons of platinum being produced in the world each year. Larger amounts of steel are poured in a single day in the United States than the total production of platinum in one year! Eighty percent of the world’s platinum production comes from mines in South Africa. Aside from the Earth’s crust, there are also naturally occurring deposits in various alluvial rivers around the world.

Sell Your Platinum Today!

If you have old platinum jewelry or catalytic converters, you can sell these items to a scrap metal buyer and get paid cash on the spot. Platinum is currently doing well on the scrap metal market, so take advantage of the current economy and sell your platinum commodities while their value is on the up and up.

Garden City Iron and Metal 1-888-586-5322

Garden City Iron and Metal 1-888-586-5322

Call Garden City Iron & Metal at 1-888-586-5322 to recycle platinum and other scrap metal commodities in Central and Southern Indiana. We buy sheet metal, scrap metal, vehicles, auto parts, appliances, and much more. We retain the latest technologies, including 3 state-of-the-art electronic platform scales, which allows us to provide the highest imbursements for scrap metal in Indianapolis! Call 1-888-586-5322 to request a free estimate, today!

Do You Know What Makes Brass and Bronze Different From Each Other?

Brass and bronze metal may look similar, but there are distinctive differences between them. Learn what these differences are before recycling your metal!

Scrap Metal Recycling 1-888-586-5322

Scrap Metal Recycling 1-888-586-5322


For those looking to recycle a large amount of brass, you may want to take a closer look to ensure your brass pile is in fact, all brass. The price per pound for bronze is higher than brass, and often times, people make the mistake by assuming all “yellow metals” are brass. However, brass can have bronze in it as well, making it slightly more valuable. Continue reading to learn what the difference is between the two metals, and how to tell them apart from one another.

Brass

Brass is a non-ferrous alloy metal. “Non-ferrous” means that it does not contain any iron and lacks magnetic abilities. An “alloy” is a metal that is comprised of other metals. In the case of brass, copper and zinc are the majority metals, with most brass containing anywhere from 60 to 80% copper and 20 to 40% zinc. Zinc and copper combined makes for a stronger and more durable metal that has a yellow-ish tint.

Brass is commonly used in plumbing applications, including brass pipes and plumbing fixtures, turnings, shells, and more. However, it also have several other industry applications. For instance, brass is a common metal for making musical instruments like trumpets and trombones.

Bronze

Bronze is less common than brass. It is also a non-ferrous alloy made up of zinc and copper, so it is difficult to tell brass apart from bronze. The difference between the two alloys is simply the amount of copper content. Bronze has more copper content than brass, usually between 80 and 90 percent, which is why it is redder in color. Brass has less copper, so it is more yellow or gold in color. Bronze is also heavier and more dense than brass, so it is a common material for statutes and decorative objects. In order to tell brass from bronze, you need experience in the metal buying industry.

To determine the exact amounts of copper and zinc in a metal item, you would need some technology. There is a device called an XFR analyzer that can read metal. These are very expensive, and generally used by large scrap metal companies.

Recycle Your Brass and Bronze Metal for Instant Cash

Garden City Iron and Metal 1-888-586-5322

Garden City Iron and Metal 1-888-586-5322

Call Garden City Iron & Metal at 1-888-586-5322 to recycle scrap metal and junk metal commodities in Central and Southern Indiana. We pay cash on the spot for both ferrous and non-ferrous metals, as well as, junk cars, automotive parts, appliances, construction equipment, motorized farming equipment, and much more!