--- title: "Selling Platinum Scrap: Value and How to Sell" source: "https://goldealers.co.uk/knowledge/platinum-palladium/selling-platinum-scrap" date: "2025-12-02" --- # Selling Platinum Scrap: Value and How to Sell Platinum is a member of the platinum group metals (PGMs) and is highly valued for its rarity and industrial uses. While gold is more familiar to many sellers, platinum can also fetch strong prices if you know what you have and how to sell it. Here's what to keep in mind when selling platinum scrap in the UK. > **Quick Summary:** Platinum scrap is valuable but requires finding specialist buyers. Most platinum jewellery is 950 (95% pure), and purity, weight, and market prices all affect your payout. Industrial platinum items like lab equipment can be especially valuable due to high purity. ## Identifying Platinum and Purity Most platinum jewellery in the UK is hallmarked, often marked "950" to indicate 95% purity. Common platinum jewellery alloys are 950 (95% Pt) or sometimes 900 (90% Pt), usually mixed with other metals like iridium or cobalt for hardness. Platinum items are dense, silver-grey in colour, and do not tarnish. > If you're unsure an item is platinum, look for the hallmark (e.g. 950 and an assay office stamp) or have it tested by a professional. UK law requires platinum jewellery over 0.5g to be hallmarked. ### Purity Affects Value Platinum's value is largely determined by purity: - Nearly pure .999 platinum (such as some bullion coins or bars) will yield more value than 90–95% alloys - If platinum is alloyed with other precious metals (like gold or rhodium), it requires additional refining work, which can mean slightly higher fees and a lower net payout percentage - In general, higher purity = higher price per gram ## Weight and Quantity Matter The amount of platinum you're selling can influence the price you get: - **Larger quantities** often secure a better rate per gram, because certain processing costs (assay, handling) are fixed regardless of batch size - **Small bits of platinum** (like a single small ring) might incur the same base fees as a large batch, so the per-gram payout may be lower for very small lots - It can pay to gather multiple pieces to sell together if possible > A good refiner might offer 90-95% of the platinum content value after assay. The exact percentage depends on quantity, purity, and form. ## Market Price Fluctuations Platinum prices are determined by global markets and can be quite volatile. Unlike gold's high-profile market, platinum trades can fly under the radar, but its price moves daily based on supply and demand. **Key facts about platinum pricing:** - Platinum was once more expensive than gold, but in recent years it has often been cheaper - At the end of 2025, platinum is roughly one-third the price of gold per gram in the scrap market - Check the current platinum spot price or dealer rates before selling, so you have a rough idea of its value ## Choosing a Reputable Buyer Selling platinum isn't quite as straightforward as selling 9ct gold at the local jeweller, because not all high-street buyers deal in platinum. Many gold buyers or pawn shops may not be equipped to test or melt platinum. > **Important:** Never send valuable platinum through the post without insurance. Use insured, trackable delivery or the dealer's recommended secure postal service (many offer free insured kits for precious metals). ### Finding a Specialist Buyer Look for a buyer who is transparent about their process – they should explain: - How they will assay (test) the metal - What percentage of the metal value they pay - Any fees or deductions for refining Consider contacting precious metal refiners or specialised bullion dealers if you have a significant amount of platinum. Learn more about [selling platinum jewellery](/knowledge/platinum-palladium/selling-platinum-jewellery) for specific guidance. ## Types of Platinum Scrap ### Jewellery Rings, necklaces, earrings, watch cases, etc. (often 950 platinum). If set with gemstones, remove or account for those separately – platinum buyers typically pay only for the metal content, not stones. ### Bullion Coins and Bars Some mints produce platinum coins (e.g. Platinum Britannia, Maple Leaf) or small bars. These can often be sold to bullion dealers for a price close to the platinum spot value, minus a small spread. ### Industrial Platinum Laboratory equipment like crucibles, tongs, or mesh made of platinum, as well as platinum wire and foil used in scientific setups. These often have very high purity and can be valuable scrap. > Platinum crucibles used in labs are typically 99% pure and can be worth a lot due to weight. A small crucible weighing 50 grams at 99% purity could be worth hundreds of pounds. ### Catalysts Platinum is used in catalytic converters and chemical catalysts. Used automotive catalytic converters are usually handled by specialist recyclers, not jewellery dealers, due to the need for ceramic processing. ## Selling Tips for Platinum ### Get Multiple Quotes Especially for larger quantities or unusual forms of platinum, it's wise to get quotes from a few places. Platinum buyers may offer different percentages of the metal's value. ### Know Your Item's Details If you have documentation (e.g. a certificate for a platinum bar or manufacturer's specs for a lab item), provide those – it can help the buyer judge purity and offer a better estimate upfront. ### Hallmark and Assay UK law requires platinum jewellery over 0.5g to be hallmarked, so a genuine piece should carry a platinum hallmark (950, 900, or 850 fineness with a distinctive trapezoid-shaped stamp). If your item isn't hallmarked (e.g. antique or foreign pieces, or industrial scrap), a reputable buyer will need to assay it. For more information about testing methods, see our guide on [testing platinum and palladium](/knowledge/testing/testing-platinum-palladium). ### Payment and Processing Once your platinum is tested and agreed upon, payment is usually made via bank transfer or cheque. Turnaround can range from the same-day (for simple jewellery tests at a shop) to a couple of weeks (if material must be sent for refining). ## Frequently Asked Questions **Q: How much is platinum scrap worth compared to gold?** A: As of late 2025, platinum is roughly one-third the price of gold per gram in the scrap market. However, platinum prices are volatile and can change significantly. Always check current spot prices before selling. **Q: Can I sell platinum jewellery at a regular gold buyer?** A: Many high-street gold buyers and pawn shops don't deal in platinum because they lack the testing equipment or refining capabilities. You'll need to find a specialist precious metal dealer or refiner who explicitly buys platinum scrap. **Q: What percentage of the metal value will I receive?** A: Reputable refiners typically offer 90-95% of the platinum content value after assay. The exact percentage depends on the quantity, purity, and form of your platinum. Larger quantities and higher purity generally command better rates. **Q: How is platinum tested by buyers?** A: Professional buyers use XRF (X-ray fluorescence) testing or send items for melt and assay to confirm platinum content. UK hallmarks provide initial guidance, but non-hallmarked items require testing to determine purity accurately. ## Next Steps Platinum scrap is valuable, so take the time to sell it properly. Unlike gold, it might require a bit more effort to find the right buyer, but your patience will be rewarded. Whether it's an old platinum ring or a lab apparatus, don't let it languish – with the right approach, you can unlock the significant value of platinum scrap. **Useful Resources:** - [Selling Platinum Jewellery](/knowledge/platinum-palladium/selling-platinum-jewellery) - [Platinum vs White Gold: What's the Difference?](/knowledge/platinum-palladium/platinum-vs-white-gold) - [How Platinum and Palladium Are Tested](/knowledge/testing/testing-platinum-palladium) - [How to Package Precious Metals for Posting](/knowledge/postal/how-to-package-gold-silver-posting) --- *Published by Goldealers Ltd · https://goldealers.co.uk/knowledge/platinum-palladium/selling-platinum-scrap*