Platinum is the most precious of the precious metals. Why? Shiny and durable, it is the hardest of all the metals. It is remarkably resistant against corrosion, even at high temperatures and is often found in quantities in the earth chemically uncombined and pure, native platinum.
Platinum, while always being very high value, is unusual in that it seems to go in and out of style. For instance, at the turn of the last century, it seemed to become very popular for jewelry gifts between couples. That is, as bridal sets. So if you see a white metal colored antique jewelry set, done early in the 1900s, it's very likely to have been crafted (or "smithed") in platinum.
It was also very stylish just a few years ago from 1995 to 2008. it seemed every bride wanted her engagement and wedding rings made from "the most durable and lasting" of all precious metals. Maybe it was also a sign of excess during that same time period. For whatever reason, the beautiful white metal seemed to greatly enhance the beauty of every sparkling stone it came in contact with. The price rose accordingly during those times, but as interest in it dropped in the last several years, prices have come down. This is also due to the slow down in the automotive industry.
While trends change and styles come and go, platinum retains its value for industrial applications. Platinum is used in catalytic converters, laboratory equipment, electrical contacts, dentistry equipment and platinum resistant thermometers. Its durability in these applications is also highly valued. And because only a few tons of platinum are produced annually, the market can drive the price even without factors like stock prices and the value of the dollar on the international market feeding in.
Manhattan Gold & Silver is available to assist with refining your industrial and other scrap platinum with the same integrity and concern that we handle with all of our refining material.
Manhattan Gold & Silver has been in business for more than twenty five years. We're proud of our record of service and our position in the precious metals refining community, but we want to make sure that you know why that's important to you.
Remember a couple of years ago when the price of gold skyrocketed? The American economy was struggling with the recession, and because the U.S. dollar was a little shaky, investors went to the gold market for greater currency stability. The result was that the price of gold went up hundreds of dollars seemingly overnight and everyone was digging around in old chests, looking for gold that they could sell while the price was high.
Many businesses started at that time and promised high prices for gold reselling, which confused the marketplace. On the other hand, here at Manhattan Gold & Silver we continued with business as usual and continued to grow our strong ties to the businesses who have been refining their gold with us for years.
Remember that gold is usually sold in different karats that indicate purity. Most of us know that 24 karat gold is the most pure, 22 or 21 karat is the next most pure, followed by 18 karat, 14 karat, 12 and 10 karat gold. Imagine having to try to follow the prices with each of those types or purities of gold selling at different prices.
You really need a company that knows its business, values its reputation and enjoys solid standing in the community it serves. Manhattan Gold & Silver is that company. We are conveniently located in the Manhattan Diamond District. Many of our jewelry, pawn, industrial, and other professional customers are long-term customers whose patronage we've enjoyed for years. They trust us to serve them and so can you. We're here when you're ready to remelt your gold and silver.
Manhattan Gold and Silver is located at 45 W. 47th Street in the Diamond District—the heart of New York City. We're very proud of this specific address because it's in one of the most famous and historic areas of New York City. It's also an area that prides itself on integrity, tradition and scrupulous honesty in business. We are fortunate to be part of Manhattan's celebrated Diamond District.
The Diamond District started to come into its present form in the mid-20th century. Originally, in the early 1920s, the jewelry and precious metals dealers had grouped together near Canal and the Bowery. In 1931, there was a gathering located in the Financial District.
Around 1941, they began to move to the present location. Manhattan’s Diamond District grew in importance during World War II after the Germans invaded the Netherlands and Belgium. Thousands of Jewish refuges in the diamond business fled to New York. They came together here to work and share their traditions and way of life. When the war was over, they remained to become a dominant influence in the Diamond District.
To this day, the traditional influences and approaches to business are observed. It's been reported that $400 million worth of business is done on this one city block every day. And, to this day, some of those deals are still finalized by a handshake. Community members know who they can trust in business. It's the community's trust and confidence that has made it possible for Manhattan Gold and Silver to operate here for more than 20 years.
We're very pleased to be part of that tradition. We're part of a community that values trust and rewards honest dealings. We serve you with a sense of pride in our ethics and quality of work. We're part of one of America's most trusted workplaces and when you're ready to bring in your gold, we'll be here.