Consider Investing in Platinum Wire

Platinum ScrapRecycle Thermocouple WireRecycle Refine Platinum
Written By Barry Lenson

With platinum currently trading around $760, it is certainly a metal that merits your consideration as you look for ways to invest in precious metals.

To be sure, there are so many ways to invest your money today. You could buy bullion, coins, gold scrap, and more. But of all the many precious metals to invest in, platinum wire merits special consideration right now.

Why? It is because a number of companies that use platinum wire in their manufacturing processes are closing right now. Others have fallen on hard times and are selling off their materials to raise money. If you search for “Platinum Wire” right now on eBay, for example, you will discover that more than the usual amount of platinum wire is available for sale. This could be your chance to buy platinum wire at an attractive price.

What Kind of Companies Have Been Using Platinum Wire?

Many jewelry manufacturers keep supplies of platinum wire on hand, which they use to make rings, pins and – most often – the small loops on earrings that pass through the wearer’s earlobe. (Platinum, like gold and stainless steel, is hypoallergenic.) You can also find quantities of platinum wire in workshops that repair jewelry. If one of those businesses is liquidating its supplies near you, you could have an opportunity to purchase platinum wire.

Platinum wire is also used in aerospace manufacturing, in laboratory equipment, and even in specialized contact points in industrial sensors and other equipment. And if you find a company that manufactures laboratory testing equipment, chances are you have found a good source of platinum wire and scrap.

Bear in mind that platinum beads and powders are also used in plating operations.

What Is the Difference Between Platinum Wire and Thermocouple Wire?

Thermocouples are thin wires that are used to control and/or monitor temperatures remotely. You will find them used in stoves, air conditioners, refrigerators, and other common appliances. You will also find them used in a number of manufacturing operations.

Many thermocouples contain small quantities of platinum – small, but worth reclaiming and recycling due to the current high trading price of platinum.

But bear in mind that although thermocouple wire and platinum wire might look similar – they are often white in color and can come rolled up on spools – they are not the same thing. Platinum wire contains a higher percentage of platinum than thermocouple wire does.

What Are the Odds of Finding Platinum Wire in Your Home?

This is kind of a trick question. Even though there is a pretty good chance of finding items that contain platinum wire in your own home, the amount of platinum wire they contain is likely to be extremely small.

Look for jewelry. The loops of earrings are the most common source of platinum wire that can be found domestically. Platinum engagement rings are another good source. The bodies of those rings are made of platinum. Plus, platinum wire might have been used to manufacture the tines that hold jewels in place in them. And if a platinum ring has some delicate surface decorations, they could have been made from platinum wire.

Do You Have Questions about Platinum Wire? We Have Answers

Here at Specialty Metals Smelters and Refiners, we are excited about the current opportunity to invest in platinum wire. Call us at 800-42-2344 to learn more.

Barry Lenson
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