In 2001, South African police arrested 40 people, including two police officers, during a raid aimed to end international platinum smuggling. South Africa is the world’s biggest supplier of platinum, and the fact is this precious white metal is used in everything from platinum wedding rings to car exhaust pipes. It is also incredibly rare, and the value of the metal is continually on the increase.
Platinum wedding rings
In the pirate stories and romantic tales of treasure chests, it’s gold that symbolises wealth and glory. But platinum is in fact far rarer than gold and is the preferred metal of many jewellers. Platinum is a perfect metal for wedding rings as it offsets diamonds perfectly - better than silver - and has an enduring lustre that never dulls.
Platinum is rare
The South African raids were a result of a two-year undercover operation to stop illegal smuggling. The platinum uncovered was valued at $1m, and represented a major threat to the precious metals industry - and not just in the manufacture of platinum wedding rings. Platinum is often described as the most precious or rarest of the precious metals because of the fact it contributes to 20% of manufactured goods. Everything from computers to fibre glass to fertilisers uses platinum, and it crucially helps limit exhaust emissions in catalytic converters. The modern world depends on platinum.
The fact that the South African platinum from the raid was smuggled to Europe underlines the high value of the metal. And because of this, Interpol believe it will be a continuing problem. A spokesman told the BBC: “It's still going on out there, but we hit them hard today. It's like drug smuggling - there will always be a market for it,” he said. Platinum wedding rings are more desirable today than ever.
Platinum wedding rings boom
At the end of 2005, Platinum prices reached a 26-year high as demand from jewellery makers to produce platinum wedding rings amongst other items contributed to the boom.
The value of platinum wedding rings may be beyond finance for many who wear them - but there’s no getting away from the fact that the metal is for some worth more than sentiment. The fact that platinum is far less abundant than gold and only found in a few mining deposits on earth, means supply and demand is high.
Platinum as an investment
Buying platinum wedding rings may be a wise investment - but there can be no bigger investment than wearing one as a symbol of marriage.
The Platinum Ring Company was established to offer quality Platinum wedding rings at discounted prices. We are able to offer such discounts because we have no costly premises and are able to keep our overheads low by dealing with the manufacturers directly.
Having been in the retail jewellery business for over a decade, the products we offer represent classic examples of beautifully crafted, high-quality rings, manufactured by the best, award winning, British manufacturers.