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

Platinum scrap is a term used to describe undervalued platinum sources that can be purchased and recycled for full benefit. Jewelry, catalytic converters, electrical contacts and electrodes, oxygen sensors, old spark plugs, and used laboratory equipment are among the items from which platinum can be recycled. Also, platinum scraps are often obtained from platinum mesh and sponges used 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 considered lesser value by many people. This is particularly true when it is recycled and reused 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. 

Brief History

Even though platinum is currently regarded as 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 considered the foundation for modern platinum metallurgy.

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 only commonly used for 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 had been designated as 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.

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 are made of 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 it is bought and sold 24 hours a day, seven days a week, its price regularly fluctuates. Click here to learn more about it: https://www.kitco.com/charts/liveplatinum.html

Best Buyer of Platinum Scrap 

Nevada Coin Mart is the best place to sell your platinum scrap. Our store has a strong reputation for purchasing valuable goods from the general public for over 25 years. We have served millions of people so far, assisting them in making money by selling their platinum scrap and other products. Of all buying establishments and other pawn shops in Las Vegas, NV, we pay the most cash for platinum pieces and have the best customer service.

 

Our store is the #1 platinum scrap buyer in Las Vegas and Henderson. We are legally allowed to purchase any platinum item since we are licensed by 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. Nevada Coin Mart has finally moved into the new technology era to deliver the best cash products and customer support possible.

The Las Vegas Review Journal has honored us with three Best of Las Vegas awards for our honesty and consistency in service delivery. This honor only shows how dedicated and devoted our respectable establishment is to meeting the needs of the general public when it comes to purchasing platinum items. Hurry now and check out our store. We can be reached at 702-998-4000 or visited at 4065 S. Jones Blvd, Las Vegas, NV 89103. We are open from 9 AM to 6 PM every day of the year. 

References:

https://www.specialtymetals.com/blog/2019/6/24/everything-you-need-to-know-about-profiting-in-platinum-scrap

https://www.specialtymetals.com/blog/2015/2/25/a-brief-history-of-platinum

https://www.specialtymetals.com/blog/2019/8/19/how-much-is-platinum-scrap-worth