Metal conversion/scrap question (platinum)
Stork
Posts: 5,205 ✭✭✭✭✭
Sooo....to make a long story short I developed an allergy to my gold wedding/engagement band set and I finally did something about it.
I tried a small platinum band for a few months to make sure I wasn't allergic and then I had a local (Spanish) jeweler make me a new setting. Thing is platinum is not big over here for jewelers, at least not locally, and he gave me quite the cut price if I provided the platinum (and paid in cash--I'm thinking that keeps everything off the books but I digress and am only speculating of course). Basically it was an 800 euro credit for providing 1/2 an ounce of platinum and I got some of it back....
I gave him 5 1/10 ounce coins and he did a great job. After melting the platinum (which he fussed about considering the melting temperature) he made a strip of metal for the ring. There are 5 grams left over in strip form and no platinum stamp. Without a stamp or any other identifying mark will this be accepted by a dealer/jeweler? I could probably try and take it back for a stamp but I'm not sure it's worth it.
Pretty cool trade though, my own platinum eagles and a handmade ring made in Spain.
In case your wife/girlfriend/significant other ever tries to tell you an updated setting will make the stones look nicer, she just may not be blowing smoke. I was only trying to avoid a rash and wear an engagement ring again, but I have to say the rocks look MUCH better. And, lucky for my hubster, I actually paid for it myself
.
Cathy
I tried a small platinum band for a few months to make sure I wasn't allergic and then I had a local (Spanish) jeweler make me a new setting. Thing is platinum is not big over here for jewelers, at least not locally, and he gave me quite the cut price if I provided the platinum (and paid in cash--I'm thinking that keeps everything off the books but I digress and am only speculating of course). Basically it was an 800 euro credit for providing 1/2 an ounce of platinum and I got some of it back....
I gave him 5 1/10 ounce coins and he did a great job. After melting the platinum (which he fussed about considering the melting temperature) he made a strip of metal for the ring. There are 5 grams left over in strip form and no platinum stamp. Without a stamp or any other identifying mark will this be accepted by a dealer/jeweler? I could probably try and take it back for a stamp but I'm not sure it's worth it.
Pretty cool trade though, my own platinum eagles and a handmade ring made in Spain.
In case your wife/girlfriend/significant other ever tries to tell you an updated setting will make the stones look nicer, she just may not be blowing smoke. I was only trying to avoid a rash and wear an engagement ring again, but I have to say the rocks look MUCH better. And, lucky for my hubster, I actually paid for it myself
. Cathy
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"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
new ring/old ring/scrap- I could not convince my camera, while using it one handed, to focus. The pictures suck and work just called. Sigh. Gotta run.
edited to add: the original ring was 18K/platinum, new ring platinum. The stones are 'F', so they look quite white in the new setting, even though in the old they were sitting in platinum. The gold really did change the look even though it wasn't 'touching' the stones...okay, running now. Merry Christmas!
Cathy
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Basically it was an 800 euro credit for providing 1/2 an ounce of platinum and I got some of it back....
I gave him 5 1/10 ounce coins and he did a great job. After melting the platinum (which he fussed about considering the melting temperature) he made a strip of metal for the ring. There are 5 grams left over in strip form and no platinum stamp. Without a stamp or any other identifying mark will this be accepted by a dealer/jeweler? I could probably try and take it back for a stamp but I'm not sure it's worth it.
.........
Cathy >>
Would your same jeweler buy it from you? I would at least ask him.
It's pretty much worthless to you and you might easily lose or misplace it. You jeweler obviously esteems Pt highly that he gave you an 800 Euro credit ( at $1.32/Euro, that's $1056 for about one-half gram less than one-third of an ounce).