Sell Platinum Scrap to the Best Platinum Buyer in Las Vegas and Henderson, NV

Platinum scrap is a term that pertains to undervalued platinum bits and sources that can be purchased and recycled for full benefit. Jewelry, catalytic converters, electrical contacts and electrodes, oxygen sensors, old spark plugs, and secondhand laboratory equipment are among the items from which platinum can be recycled. Also, platinum scraps often come from platinum mesh and sponges in plating and other industrial applications, as well as filings, bench sweepings, and floor sweepings. 

Platinum scrap can be worth a lot of money, even though it is of lesser value for many people. This is particularly true when people reuse and recycle platinum properly. These scraps can be used in various recycled materials and equipment, mainly because they contain platinum, which is essential for durability and corrosion resistance. 

Value of Platinum Scrap

The trading price of a platinum scrap varies depending on the following factors:  

Purity. This refers to the actual platinum content of your item. If there is more platinum in your item, the more precious it becomes. There are some instances in which the rest of the components of your items contain a platinum-blend alloy. This makes use of a different pricing requirement, especially based on the item’s purity. 

Hallmarks. This is another indicator that the item that you intend to sell is pure and authentic. These are symbols of your platinum piece, such as 850, 900, 950, or 999. The higher the number is, the purer is the platinum in it. In addition to these numbers, letters PLAT or PT and these numbers also indicate that your item is genuine.

Weight. Since platinum is sold by the ounce, the weight factor is a major consideration. To determine its weight, you will need to measure down an item to the tenth of a gram.

Spot price. Platinum is available for purchase on the open market, which means that supply, demand, and other market factors affect its price. Since people buy and sell platinum 24 hours a day, seven days a week, its price regularly fluctuates. Click here to learn more about it:

Best Buyer of Platinum Scrap 

Nevada Coin Mart is the best place to sell your platinum scrap. Our store is the #1 platinum scrap buyer in Las Vegas. We can legally purchase any platinum item thanks to our license from Clark County. Using a state-of-the-art x-ray spectrometer, our team will provide you with a free quote or in-store review for your item. This ensures that you get the most money for your pieces. Visit us at 4065 S. Jones Blvd, Las Vegas, NV 89103. We are open from 9 AM to 6 PM every day of the year. You can also call us up at 702-998-4000 to get a free quote and talk to our platinum experts today.

Brief History

Even though platinum is considerable a “new” element, it still has a long history. First, this element was already highly esteemed by ancient Egyptians and Pre-Columbian Indian civilizations. In the 17th century, Spanish conquerors were credited with the “new” discovery of platinum. The term comes from the Spanish word platina, which means “little silver.” When Spaniards were prospecting for gold in Colombia’s Choco region, they discovered alluvial deposits of this rare white metal. Surprisingly, they saw platinum as a hindrance to their gold mining.

Platinum became a metal of interest to scientists since its introduction into Europe in the 18th century due to its unique properties. Scheffer, a Swedish assayer, identified platinum as the seventh existing element in 1751. In 1789, the French physicist P.F. Chabaneau received malleable platinum to make a chalice for Pope Pius VI. In the early 1800s, British chemist W. H. Wollaston was the first to obtain a sample of pure platinum. Wollaston’s techniques for separating PGMs are among the foundations for modern platinum metallurgy.

The Development of Platinum

Platinum development necessitates extremely complex processing techniques that were not available until the late 1800s. Furthermore, platinum’s high melting points made working with it extremely difficult. Platinum was common in modern industrial applications after the advent of new processing techniques. The use of platinum in fine jewelry, on the other hand, grew rapidly at the turn of the twentieth century. At that time, platinum was already well-known for its elegance and longevity.

During World War II, platinum was scarce because it was a strategic material. Its use for most non-military purposes was also outlawed. Because of its catalytic properties, platinum consumption increased after the war. The scarcity of platinum has been one of the most significant barriers to its widespread use in history. 

Platinum reserves are currently concentrated in a few locations worldwide, mostly in South Africa and the Russian Federation. New mines have opened in the last decades, and sophisticated platinum mining techniques have been developed. Platinum has grown in importance around the world, and its prospects are deemed very promising.