Jewelry Hallmark Guide

If you own a piece of precious metal jewelry, you have likely noticed a small stamp on a hidden part of the ring, necklace, bracelet or earring. These stamps are known as a jewelry hallmark, and appear on almost all precious metal jewelry. Jewelry hallmarking can give you clues as to the jewelry’s country of origin, metal content, purity, and the name – or initials – of the maker.

European Hallmarks

Hallmarking has a long and illustrious history that began in Europe during the 14th century. English and French jewelers in particular hallmarked their jewelry with elaborate designs and animal symbols to denote the origin of the jewelry, the metal, the purity, and the maker. Though intricate and lovely, the European hallmarks can be tough to decipher and are easily misinterpreted by a novice. Luckily for Americans, the U.S. jewelry hallmarking system is much easier to read.

American Hallmarks

Though many countries require jewelers to hallmark their precious metal jewelry, the United States interestingly does not. Yet despite the absence of a law mandating hallmarking, most U.S. fine jewelry does indeed come stamped to assure the purchaser of the quality of the metal. Since the purity of the metal is a major indicator of the jewelry’s value, many jewelry buyers feel more comfortable purchasing a piece that is hallmarked. However, it is important to note that a hallmark can also give a buyer a false sense of security since it is not tightly regulated in the U.S. Unscrupulous jewelers or street vendors can create their own hallmark to pass off poor quality jewelry as quality pieces. The most important factor is always to buy from a reputable jeweler.

Here is a quick rundown of the most common jewelry hallmarks that indicate the metal and purity:

U.S. Platinum Jewelry Hallmarks

Plat - A platinum ring marked with Plat or 950 Plat is considered nearly pure platinum (95% platinum) and is therefore quite expensive. 950 is the highest grade of platinum available for jewelry.

IridPlat - Platinum rings with this hallmark are 90% pure platinum with 10% other metals mixed in. These rings, also often marked with .90 Plat, cost less than their purer platinum counterpart above.

U.S. Gold Jewelry Hallmarks

10k - 10 karat gold is the lowest karat gold, and is composed of 10 parts gold to 14 parts other metals. 10 karat gold costs much less than higher gold purities.

14k - 14 karat gold is one of the most popular gold purities for gold jewelry. 14 karat gold is composed of 14 parts gold and 10 parts other metals.

18k - 18 karat gold is very high quality gold, and is composed of 18 parts gold and 6 parts other metals.

24k - 24 karat gold is pure gold, and is the most expensive and most malleable gold composition. The addition of other metals to gold makes it stronger and more durable, since 24 karat gold is quite soft and is easily dented, dinged and bent.

U.S. Silver Jewelry Hallmarks

900 - The 900 stamp on silver denotes that the metal is 9 parts pure silver and one part alloy metal. This stamp was used mainly on silver coins and is not commonly used on jewelry in modern times.
925 - 925 is the hallmark stamp for sterling silver. This is the most common hallmark seen on silver jewelry, and means that the jewelry is composed of 92.5% pure silver and 7.5% other metals. Sterling silver is the highest quality silver used in jewelry, since pure silver is much too malleable to be worn on a daily basis.

Apples of Gold carries a wide variety of precious metal jewelry in different purities. This allows customers to choose the right gold karat for their taste and budget.  Check out our selection of beautiful gold and platinum wedding bands, earrings, bracelets and necklaces at Apples of Gold.com.

Understanding the Price of Platinum Jewelry

Why is Platinum Much More Expensive Than Gold?

Platinum is a hypoallergenic virtually pure precious metal. Jewelry stores who sell high quality platinum offer 950 Grade (95% pure platinum) jewelry. Anything less should not be considered either pure or hypoallergenic or of substantive quality.

This means that 95% of the content of a piece of platinum jewelry is pure platinum and 5% is another platinum group alloy such as palladium, ruthenium, or iridium. Most of these alloys are excellent choices to mix with platinum jewelry, but palladium and ruthenium should be considered top choices.

In addition, unlike white gold, platinum does not require rhodium plating for maintenance.

Platinum Purity Compared to Gold

Platinum is 30 times rarer than gold!

Compared to 14k gold (which is only 58% pure gold or 14 of 24 parts gold) or 18k gold (75% pure gold or 18 of 24 parts gold), platinum can cost significantly more due to its purity and value as a rare precious commodity.

Since platinum is a purer and denser metal than gold, it will weigh more than gold (about 60% heavier).

For example, the same wedding band weighing 10.0 grams in gold will weigh 16.0 grams in platinum.

Since the amount of a precious metal (or the gram weight) is a significant factor in determining prices, platinum tends to be more costly than gold, but well worth the difference in price if it meets your budget.

Manufacturing and Labor Costs

Platinum is also more expensive than gold due to the fact that it is slightly more difficult to work with and less platinum jewelry is produced than gold jewelry, thereby effecting the manufacturing and labor costs of platinum vs. gold.

Overall, you can expect to normally pay 3-4 times more for platinum than for gold. Although with platinum prices historically lower than average, you may be able to find platinum jewelry costing closer to 2.5 – 3 times more than gold currently. Still a premium, but a bargain today regardless.

Market Price of Platinum

Platinum is a voraciously volatile precious metal whose base price is directly connected to the metal’s market price. As of today, platinum hovers at $965.00 per ounce (a historically low price that will probably change by the time I finish writing this).

In figuring out the base price of a piece of platinum jewelry, a rudimentary formula is used to determine the value (exclusive of labor, manufacturing costs, as well as wholesale and retail markup).

Platinum Formula for 950 Grade Platinum Jewelry

Market price of platinum per ounce + 18 / 31.1 = Price of Platinum Per Gram

Taking today’s price of platinum of $965.00 per ounce, this yields:

965 + 18 / 31.1 = $31.60 per gram

(Why +18 and divide by 31.1? 18 is the amount of estimated loss of platinum when the metal is refined into jewelry, and 31.1 is the number of grams per ounce).

Keep in mind that rarely should platinum jewelry’s value or price be determined solely on gram weight alone–there are many factors including design and labor, limited production of a specific piece, whether the item is handmade or mass produced, and many other factors. But this formula will give you an idea of the base price of your platinum jewelry.

For example, a ring weighing 20.0 grams of platinum may cost $1,425.00. If you divide 1,425 / 20 — you will get $71.25 per gram. That is the amount you are paying per 1 gram of platinum in your ring (inclusive of labor, retail markup, etc.).

Apples of Gold has recently reduced the prices on all of its platinum wedding bands–in response to platinum’s current market valuation. Now is the time to buy platinum, before platinum prices skyrocket as they have in times past. (Platinum used to be valued at $2,300+ per ounce just 11 months ago!) It will probably return to such levels again.

The jewelry has not changed–but the market’s valuation of the metal has–for now.

Featured 950 Grade Platinum:

Platinum Braided Wedding Band

Platinum Celtic Wedding Band

Platinum Men’s Cross Pendant

Platinum Paisley Wedding Band

View more Designer Platinum Wedding Bands from Apples of Gold.

Platinum Wedding Bands

As mentioned in our article about Holiday Proposals, December is by far the most popular month for couples to get engaged. Despite the economic outlook, couples are still falling in love, pledging to spend their lives together, and planning weddings. The good news for today’s couple on a budget is that jewelry’s most precious metal, platinum, experienced a huge price drop during the year. Platinum started off the year at over $1600 per ounce in January 2008, but has steadily declined due to a slowing demand. On the final day of the year platinum closed at only $928 per ounce.

At a time when the prices of gold and platinum are so close to each other, it makes sense to  purchase a platinum wedding band. Since platinum is much rarer than gold, investing in a platinum ring when the price is depressed means that your investment will likely increase in value faster over time. Platinum wedding bands come in just as many styles and designs as gold bands, and are more durable as well. If you are interested in a platinum wedding band for you or your fiancé, consider checking out some of our popular designs. The wide selection has something for everyone; from hammered platinum bands to rings intricately engraved with Celtic crosses.

Hammered Platinum Band

The hammered platinum wedding band is for the traditional couple who appreciates a unique look. The band features beveled edges with a matte hammered pattern down the center of the ring. It is also a comfort fit ring, which makes a huge difference in its wearability.

Plain Platinum Band

Plain platinum wedding rings are handsome in their simplicity. They also come in a wide variety of widths so you can find the perfect fit and look for your finger. We carry all the way from a thin 2 millimeter platinum ring up to a big, thick 8 millimeter platinum band.  Often women will feel more comfortable with a slim, light band in the 2 millimeter size and men will choose the 5, 6 or 8 millimeter size so it looks proportional on their larger hands. This allows a couple to pick our matching rings without having to sacrifice the perfect look and feel of a ring on their hand.

Intricately Designed Platinum Rings

Platinum bands also come in a wide range of beautiful designs. Some of the most popular platinum wedding ring designs include rings with Celtic patterns, braided patterns, and brushed finished rings.  Within each of these categories, there is a plethora of styles, widths and sizes to choose from.

If you still have not found the perfect platinum wedding band in the above picks, try browsing through our entire platinum collection of platinum rings. There is something for every taste, and the prices are perfect for couples who want beautiful wedding bands within their budget.

Platinum Rings: the King’s Heavy Metal

Italian humanist Julius Caesar Scaliger described platinum in 1557 as an unknown noble metal found between Darién and Mexico, “which no fire nor any Spanish artifice has yet been able to liquefy”. King Louis XV of France declared platinum the only metal fit for a king in the 18th century. Today, platinum is still considered the most exclusive of all precious metals.

December 2008: platinum traded at nearly the same price as gold, as the rare metal plummeted to $823 per ounce, with gold closing at $822 per ounce on the same day.

While it is the perfect time to pick up that platinum diamond wedding ring for your bride-to-be, there are several reasons why it is unimaginable that platinum jewelry prices will ever breach gold’s vastly affordable price:

• Platinum is a pure metal, with platinum jewelry usually being crafted in 950 grade platinum (95% pure platinum, 5% precious alloys, such as iridium, ruthenium, or palladium). Gold is usually made of 14k or 18k gold (58.3% or 75% pure). When considering precious metals’ prices, metal prices are determined at 100% purity (pure platinum and 24k gold).
• Platinum jewelry is approx. 60% denser than 14k gold. Since weight plays a determinant role in pricing fine jewelry, platinum remains more expensive than gold.
• Since platinum is 30 times rarer than gold and is found in only a few parts of the world, mostly South Africa, with a smaller portion in Russia and Canada, transporting platinum is more costly than gold.
• Platinum mining is a difficult and time-consuming process. Ten tons of ore (rock containing gemstones and precious minerals) must be mined to produce 1 ounce of platinum.

With platinum prices down 65% since March, Apples of Gold Jewelry has lowered prices on all of its platinum wedding bands and added new designer platinum jewelry to its extensive line-up, such a new version of its best selling men’s solid gold cross in platinum.  Apples of Gold expects to add more platinum jewelry to its collection in 2009 and 2010; especially since platinum is–for now–exhibiting signs that it will adhere to Apples of Gold’s value-based jewelry pricing methodology.

Related Posts:

Platinum and Gold: When Metals Collide

Platinum and Gold: When Metals Collide

Although platinum is 30 times rarer than gold, the two metals’ prices collided throughout the day and finally closed with gold at $822 per ounce and platinum at $823! Today’s $1 spread was nothing short of historical for precious metals; the last time platinum and gold met at such close quarters  was 1996!

Platinum has plummeted 65% for the year; gold has dropped 21%–making platinum next year’s bargain.

Metals had already seen a decline due to decreased consumer demand as a result of the economic downturn.  Adding to the ailment, platinum prices dropped further after the U.S. senate rejected a “bail out” for automakers today–deepening platinum’s fall from grace because of decreased demand for platinum in automobiles who use platinum for catalytic converters.

(Bloomberg) — According to London based metals refiner, John Matthey Plc, automakers make up about half of the world’s platinum and palladium demand. In 2006, North American automakers used 905,000 ounces of platinum.

According to Derek Engelbrecht of Impala Platinum Holdings, “the agony will continue in 2010″, if platinum miners in South Africa, who account for almost 80% of the world’s platinum supply, do not cut production. Without it platinum will, at best, stay at equilibrium or continue to decline.

2009-2010 will be the year of platinum jewelry as a direct result of decreased platinum jewelry prices. Perhaps now is the time to trade in your gold coins and buy that high-end platinum and 18k gold wedding band!

Platinum Cross Pendant

Men’s Solid Platinum Cross Pendant

Apples of Gold Jewelry introduces its most popular men’s cross pendant in Solid Platinum.

Our Men’s Platinum Cross Pendant is a fully solid cross made with guaranteed 950 grade platinum purity.

The pendant measures 1 3/4″ tall x 1″ wide and 2.5mm thick.

The pendant weighs approx. 16.0 grams.

Also available in 14k white gold and 18k white gold.

Made to last generations.

View Product Detail >

Platinum Prices Tied to the Big 3 Automakers?

Platinum fell below $800 an ounce on Thursday–a welcome sight for most in the fine jewelry industry, who consequently are able to lower platinum jewelry prices in hopes of motivating consumers to purchase such items as platinum wedding bands.

Platinum has exhibited nothing short of a bona fide crash in 2008, with platinum precious metal prices down 65% since its monumental peak of approx. $2,300 in March 2008. Platinum, today, hovers near $795 per ounce.

As a second generation jeweler and CEO of Apples of Gold Jewelry, I have been trying to fathom the mechanics of platinum’s elephantine decline. To the evident chagrin of precious metals investors, I have been outwardly gleeful to be able for the first time in six months to actually lower prices on jewelry, rather than raise them. Our goal, after all, at Apples of Gold, is to adhere to our value-based pricing philosophy which has helped boost jewelry sales in past years.

One recent timely factor of platinum’s fall from primordial heights: worries that trouble for American automakers will cut demand for platinum which is used in catalytic converters (motor vehicle pollution control devices). The economy, as we know, is intricately weaved in all of its multi-chromatic facets. Platinum prices fell, however, much earlier than the CEOs of the “Big 3″ flew their G4 private jets to Washington in the most surreal moment of 2008.

The biggest factor: Crude oil prices, a commodity that is economically and intricately tied to precious metals. Oil prices have declined 70% for the year since oil’s otherworldly 52 week high of $145 per barrel.  Oil hit a 5 year low today, closing at $43.67 per barrel, a low not seen since 2003. It’s noteworthy that gas prices have not yet fallen 70% since–but they have made large strides in the right direction.

A marginally rising U.S. dollar and falling oil prices are major contributors to falling precious metals, including gold, platinum, and palladium. The U.S. dollar is up approx. 18% vs. the Euro this year–all of which is contributing to precious metals’ decline (historically precious metals are inversely tied to the U.S. dollar as a hedge against inflation and instability in world markets).

Another major factor for platinum’s fall-out and perhaps the one that makes the most sense? Q1-Q2 platinum prices were simply too inflated at $2,300 per ounce and could not sustain long term jewelry demand. Platinum was far too expensive and out of the reach of most consumers. Although still a “metal for the masses”, platinum has become more attainable.

Personally, I feel much more comfortable with platinum prices in the $700 range. The lower the cost of raw materials, the lower jewelers are able to market their finished, designer jewelry pieces. With the economy in an untenable ball of fear, lower prices are a refreshing and welcome sight in the jewelry industry.

Apples of Gold has recently lowered prices on all of its platinum jewelry. And we hope this trend will continue.

Platinum — The More Volatile Precious Metal

Gold and jewelry enthusiasts, even economists and investors, have been closely watching the unpredictable gold market in the past several years as it began to behave uncharacteristically erratic. But platinum, its more expensive counterpart, has been largely ignored.

Platinum has had some dramatic swings as of late – enough to make gold seem tame by comparison. Platinum, reaching a high of $2,300 an ounce in March 2008, today closed at $794.00 (October 24, 2008), losing more than 65% of its value in the space of only 7 months.

Have platinum jewelry prices followed? Not entirely. Jewelers are still hesitant about lowering platinum prices for several reasons:

• Unstable platinum prices means that platinum as a commodity could quickly increase again in price. Platinum markets sometimes see a 15-20% swing in a single day.

• Jewelers have a genuine need to make up for lost profits due to record prices in other precious metal categories, such as gold and the overall loss of sales, margins, and unprecedented challenges in the jewelry industry.

• A considerable increase in business expense and risk to jewelers over the past several years. Many manufacturers have simply closed their doors after decades of business.

Jewelers will have to see a sustained decrease in the price of platinum and other precious metals over the long term before safely lowering prices. In addition, for jewelers who stock inventory there is the added challenge of buying jewelry at the right moment—and the subsequent fear of losing the value of the jewelry if they buy high and prices fall shortly after.

Our stance at Apples of Gold Jewelry? We have tested the waters recently by lowering prices on all of our platinum wedding bands in order to meet changing market conditions. Or goal is to continue lowering prices if we see a steady decline in the platinum precious metals market.

The question now remains—where will the gold, platinum, and precious metals markets head tomorrow?