When was platinum first used in jewellery

The icy white shine of platinum was the ideal metal in which to set white diamonds, blue sapphires, and green emeralds. Glamorous stars from the Golden Era of Hollywood in the s wore suites of stunning platinum and diamond jewelry on screen. Platinum jewelry from the Art Deco era is still highly sought after today, commanding impressive prices at auction and through private sales. The chances are that the demand for platinum jewelry would have continued apace had it not been for the eruption of World War II.

At the outbreak of war, the United States government declared platinum a strategic resource and banned its use in non-essential applications such as jewelry. White gold alloys had been invented in the s to mimic the white color of platinum as a less expensive and more malleable alternative. When platinum was designated a strategic metal, jewelers used white gold as a substitute. In the post-war period, platinum did not regain its former position as the dominant metal for jewelry.

Yellow gold was very popular in the s, and silver jewelry started to become increasingly desirable in the s and '70s. Gwyneth Paltrow's 40 carat Harry Winston platinum and diamond necklace.

The s were another hot period for yellow gold, and it was not until the s that platinum began to retake its position as the premier precious metal for luxury jewelry. Its purity, hypoallergenic qualities, durability, and status have all worked together to make platinum very popular once again, especially for wedding bands.

Platinum's reputation as a symbol of luxury and status has been aided by the favor it has found on the red carpet. Jewelers like Harry Winston are known for lending some of their most spectacular pieces to celebrities to wear to award shows like the Academy Awards.

Perhaps one of the best-known pieces of Oscar jewelry is the 40 carat platinum and diamond necklace that Gwyneth Paltrow wore in Winston threw in the matching earrings gratis. Many people might be surprised to learn that far more of the world's annual platinum production is consumed by industry than jewelry.

It is of vital importance to the automobile industry, which uses platinum in the production of catalytic converters. As demand grows in developing economies for cars, so will the need for platinum.

The precious metal is also used in fields such as electronics, cancer drugs, and chemistry. The supply of platinum remains very limited to this day, which has resulted in prices that are higher than those of gold. About two-thirds of the world's platinum supply comes from the mines in South Africa. Approximately another one-quarter is mined in Siberia, with minor amounts coming from other deposits in places such as Canada. It takes a whopping ten tons of ore to produce one ounce of pure platinum, in a process that averages five or six months.

The amount of gold mined each year is more than ten times the worldwide annual platinum production. Incredibly, it is said that all the platinum ever mined would fit in the average American living room! The very limited sources and difficulty in processing have resulted in a stockpile above ground which is estimated to be only enough to supply the world's needs for a single year if production were suddenly halted. By contrast, the above-ground gold supply is about enough for about 25 years of demand.

Platinum futures were added to the New York Mercantile Exchange in , as a way to diversify their agricultural offerings. The nature of commodity futures trading has made platinum futures primarily an investment vehicle for large speculators and industrial hedgers, rather than individuals. Platinum as a more modest investment began in the s, when a Japanese company began producing five- and ten-gram bars in , which were affordable enough for individuals.

This was in the wake of the Arab Oil Embargo, which caused precious metal prices to spike. By the early s, platinum investing had spread to Europe and the United States, and in , the British Crown Possession the Isle of Man introduced the first modern one ounce Noble platinum coin.

Sales were brisk, spurring both Canada and Australia to mint their own platinum coins in The United States of America finally released their own platinum coin in , called the American Eagle. The coins were legal tender with high face values, but of course their real value was the platinum itself, which made them far more valuable than their face values.

The rarity of platinum has made it alluring to investors, although prices can tend to be volatile. Not too long ago, platinum was worth more than double gold, with a ten-year average ratio that favored platinum over gold by a ratio of 1. Some speculate that a recovering global economy will make platinum the more attractive investment long-term, because of the importance of platinum to the automobile industry.

However, at this point, that is nothing more than theoretical speculation, so please don't take that as a recommendation to buy platinum based on this article! Platinum's modern history is relatively short compared to other precious metals, but its future looks long and bright.

In the s, there was more progress on how to work platinum. It was discovered that arsenic and platinum powders could fuse. Antoine Lavoisier was further able to melt platinum using hydrogen and oxygen.

Robert Hare and Daniel took this breakthrough and created a blowpipe using the same gases. It took until for Charles Picard and Edmond Fouche to develop a safer torch that could melt the metal. That allowed jewelers to take up the means, and from there, they could cast and fuse the platinum itself, allowing them to make platinum jewelry.

This approach became widespread but came to a halt after WW1 broke out. During times of war, luxury items were not a priority, so platinum pieces dwindled. Those that existed at the time were stored away to avoid looting, and what was left was used in various military equipment. Once the world recovered, people now had the means to indulge in fine jewelry, including diamonds, gold, rubies, emeralds, sapphires, and of course, platinum, which was shiny white in nature.

Just as things were booming in the s, the availability of platinum in the world dwindled. It became scares that the US government ruled that platinum ought only to make weapons and nothing more. Post-WWII, many moved away from platinum; the craze was now white gold, that is, yellow gold with, typically, a rhodium plating.

They loved the metal for its purity, and over the next 30 years, the uptake rose rapidly from Europe and finally to across the ocean. That was in the s. Today, platinum is held in the same regard as gold.

Through the s, platinum was the metal of choice for the masses. Unfortunately, another war would encroach upon the rare mineral. In , the US government declared platinum a strategic mineral, prohibiting its use in any capacity besides the industry of war.

Though the war ended only 3 years later, advances in the use of white gold eclipsed the demand for platinum post-war. Indeed, platinum jewelry would remain out of vogue worldwide until the s. The Japanese began to clamor for platinum jewelry first, esteeming the white metal for its purity. Slowly, over the following three decades, platinum jewelry began tits resurgence throughout Europe, first in Germany, then Switzerland and Italy, then the UK. Finally, in the s, it gained in popularity in the US and China.

Today, platinum jewelry holds its own alongside gold, particularly for wedding and engagement jewelry. We offer only high quality jewelry and stand behind all purchases with a no questions 60 day money back guarantee. But EraGem put me at ease with their prompt communication and answered all my questions. Blog Menu. Recent Posts. Jewelry News Categories. The History of Platinum Jewelry. December 2, by EraGem.