When it comes to credit cards, it goes silver, gold, then platinum.
A lot of guys out there assume that men’s wedding bands follow the exact same silver → gold → platinum hierarchy.
Ever since platinum was introduced as a jewellery option, its status as the preferred white metal has always been secure.
Platinum is synonymous with luxury because it:
- Is rare
- Is naturally white
- Has a beautiful weight
In addition to making platinum the most luxurious option, these attributes also make platinum traditionally the most expensive precious metal.
Notice how we said “traditionally”.
We’ll let you in on a secret: nowadays, platinum isn’t all that expensive – in fact, platinum has never been more affordable than it is today, putting platinum men’s wedding rings within reach of more guys than ever before!
What made platinum so expensive in the past?
Platinum is rarer than gold
You can thank the law of supply and demand for this one!
Simply put, the amount of platinum mined is considerably less than gold. It was rarer, and therefore more expensive.
In 2014, there was just 161 tonnes of platinum mined in the entire world, guys.
Just for reference, Australia alone mined 321 tonnes of gold last year – double the world total for platinum mining.
It’s not just platinum’s rarity that makes it platinum men’s wedding rings more expensive, either. Platinum is also buried deeper in the earth, requiring more time and effort to mine.
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Platinum men’s wedding rings are denser
So you’re at your local jeweller with your fiance, picking out a wedding band for yourself.
Out of curiosity, you think, “why not?” and try out a platinum ring to see how it looks on your finger.
“Weird,” you think to yourself, “the platinum ring feels heavier than the gold one… despite being identical in every other way.”
That isn’t your imagination – platinum is a denser metal than gold. This is what gives platinum its strength and durability.
However, it also means that platinum rings are heavier.
And since men’s wedding rings are partially priced by their weight, that makes platinum rings the more expensive option, even if everything else seems identical!
Platinum is purer
Platinum is almost pure white – it’s brighter and more vivid than other white metals such as white gold or palladium.
That’s why guys love it!
That isn’t the only way in which platinum is purer than other precious metals, however – most platinum men’s wedding rings contain a higher percentage of platinum.
Most rings aren’t made entirely of precious metals.
Instead, most men’s wedding bands are alloys, blending the precious metal with other metals for added strength, durability or colour.
Gold is a soft metal – as a result, gold rings tend to have a higher concentration of other metals.in order to compensate.
Since platinum is a harder metal to begin with however, most platinum rings have a higher concentration of platinum to begin with – and that in turn makes platinum rings more expensive than gold.
That was then – this is now
And now, platinum isn’t anywhere as expensive as it once was!
At the time of writing, platinum is at one of the most affordable points it’s ever been. For a lot of guys who’ve dreamed of platinum rings, the dream is closer than ever, and it’s all thanks to…
Platinum dropping in price
Platinum used to be the most expensive precious metal. However, this is changing!
Platinum is no longer at the lofty heights of 10 years ago when it was between $1500 – 2000 USD per oz. For the last couple of years, platinum prices have held steady at around $1000 USD per oz.
Another thing to consider is that platinum isn’t just used for jewellery – platinum is used in the production of diesel car engines.
With diesel on a bit of a downwards trend, the demand (and therefore, price) for platinum has dropped as a result.
Gold has jumped in price
At the same time that platinum has dropped in price, gold has soared!
If you’re a man who keenly follows the financial markets, you’ll know that many people buy gold when the economic outlook looks rough.
Little wonder – gold holds its value excellently (which is one of the reasons it’s such a popular choice for jewellery in the first place).
And with recent economic news looking a little bit unpredictable, it’s no surprise many have sought refuge in gold, driving up its price even higher than platinum!
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Alternatives are hitting the market
Like we mentioned above, platinum rings are purer than gold ones. When you buy a platinum men’s wedding ring, you’re getting a wedding band that’s almost entirely platinum.
As you now know, that also makes it reasonably expensive.
However, platinum 950 (so called because it’s 95% pure platinum) isn’t the only choice for men who want a platinum wedding band!
At DORA, we’re proud to lead the jewellery industry with our innovations – one of which is our Platinum 600 range.
By changing the composition of our platinum men’s wedding bands, we’re able to make platinum rings more affordable than they’ve ever been!
There’s never been a better time to buy a platinum men’s wedding band
And there’s no better place to explore your options than with DORA.
Our online catalogue of men’s wedding rings lets you explore your options and find a design that’s truly you.
Each DORA ring is made to mean more, sculpted by hand by a master craftsman with decades of experience. You won’t find any factory-made rings in our catalogue.
And since each of our rings is hand-made, we can also create a custom ring that accommodates your unique requirements, personalised engravings and special requests for a truly meaningful ring.
If you want a platinum ring without breaking the bank, you need to move now, before platinum prices return to their previous highs!
Click here to start browsing our collections of men’s wedding rings.
And once you’ve found a ring you like, click here to locate your nearest DORA stockist.
