melting down my platinum setting

[hunt7191]

Hi, I''m not sure what the technical term is for "melting down" but here is my situation. I upgraded my ER and sold the diamond out of my chunky solid platinum setting. My setting details say "a die struck, cast and assembled, platinum ring stamped ROWES plat, weighing 14.2g. Since this is the ring I was married in, I didn''t want to give it to the guy that purchased my diamond. When I upgraded I went to a completely different look, all diamonds..halo etc. So...I thought I could have a jeweler melt down this hunk of platinum and just make a simple band out of it- nothing fancy at all. When I approached a jeweler he said they don''t like to melt things down because maybe prongs could be a different metal etc. and he would just buy it from me for $800. Well, I appreciated the offer but that kinda defeats the sentimental side of it. Is this correct? Do jewelers really not want to melt things down and recast them? How would I know that my setting was melted into this plain band and not just something taken out of the case. The setting has a four prong vee tip that held the 2.05 ct princess diamond. Should I just sell the darn thing for the money since I may not get the original platinum back..or should I put a square of some sort of jewel in it? I don''t think I would ever where it with a jewel in it. Would love an opinion? Thanks!

 

[stone-cold11]

yap, generally jewelers just sell the setting back as scrap metal as they cannot be certain of the purity of the alloy and that would make working with it problematic.

 

[denverappraiser]

Platinum doesn’t directly recycle very well. The solders used in the assembly cause contamination in the alloy for the next piece. Although it’s possible to separate and recycle the metals so you’re getting the very same platinum as the original ring, in reality the cost of the refining process is often as much as the metal is worth so rather few customers are interested. $800 is $800 after all.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver

 

[Jax172]

Date: 5/27/2010 5:36:22 PM
Author: denverappraiser
Platinum doesn’t directly recycle very well. The solders used in the assembly cause contamination in the alloy for the next piece. Although it’s possible to separate and recycle the metals so you’re getting the very same platinum as the original ring, in reality the cost of the refining process is often as much as the metal is worth so rather few customers are interested. $800 is $800 after all.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver

Interesting - I have a used platinum setting sitting around taking up space too. Wasn''t married in it so I''m not attached to it. Never knew what to do with it.

 

[hunt7191]

Thanks, at least I know that I am getting legit information ; ) Sounds like time to sell and buy a new handbag : )

 

[denverappraiser]

Most people just sell ‘em. The refinery will just mix it with material from everywhere else and then recycle it back as new bars or material for manufacturing.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver

 

[luv2sparkle]

I sold a platinum W prong for scrap-I got a whole 96 bucks-for a setting I paid a lot more for. I would have kept it, or sold the whole setting but a five stone ring I wore with it dented the prongs.

If your setting is in good shape, I would try to sell it on Ebay, Pearlmans, Dover Jewelry, or maybe EricaGrace.

 

[Jax172]

Date: 5/27/2010 5:53:37 PM
Author: denverappraiser
Most people just sell ‘em. The refinery will just mix it with material from everywhere else and then recycle it back as new bars or material for manufacturing.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver

Where can you sell?

 

[denverappraiser]

Most of the ‘gold buying’ companies will also buy platinum. A fair number of the stand-alone type jewelers buy scrap metal although they don’t usually advertise it terribly prominently. It depends on where you are. Here in Denver there are dozens of players in that business and that seems to be the case all over the place. Try Googling the name of your home town along with ''jewelry buyer'' and I''ll bet something comes up.

Neil Beaty
GG(GIA) ICGA(AGS) NAJA
Professional Appraisals in Denver