platinum
Platinum is one of the rarest and most expensive metals on earth. Today, platinum jewelry is worth three times as much as gold jewelry and 42 times as valuable as silver jewelry.
Incredibly, however, from 1735 to 1778, by decree of King Philip V of Spain, all mined platinum was ruthlessly destroyed. It is speculated that in the 40 years after 1735, Spaniards put a total of dozens of tons of platinum into the sea.
Why did the Spanish Empire throw these precious metals into the sea to destroy them so recklessly?
Platinum from the colonies of South America
In the middle of the 16th century, Inca civilization ( South America Ancient Indians civilization. Inca is the honorary title of its supreme ruler. For the children of the sun. ) and Chibcha civilization ( Chibcha civilization is another civilization in the ancient American Indian culture after the Asturc civilization, Mayan civilization and Inca civilization After civilization. ) fell, platinum began to be shipped from South America to Europe along with other resources. Because platinum is silvery white,The colonists called platinum "little silver". However, due to its high melting point and not easy to melt, it is only half the value of a silver ingot . In fact, platinum is one of the most durable metals, with a melting point of over 1700 °C. The Spaniards at the time could not find a use for this metal, nor was it widely used in everyday life.
melted platinum
Spanish gold plagued by counterfeiting
Platinum has properties that only alchemists appreciate, who use it as catalyst and counterfeiting. Since platinum is slightly denser than gold, the "little silver" was melted and counterfeited into gold coins, which at the time were almost impossible to break.
As a result, the price of gold has fallen in Spain and Spain's reputation for adulterating its currency is notorious in Europe. This has caused Spain's economy to take a big hit.
Philip V
To restore the reputation of Spanish gold coins, Philip V ordered the destruction of platinum
The prestige of Spanish currency is in urgent need of restoration, in 1735, Philip V solemnly and publicly sold all accumulated platinum thrown into the sea for destruction. Meanwhile, while still remaining in South America, some platinum shipped back to Spain was ordered to be thrown into the sea for destruction under the supervision of officials in Rio del Pinto.
The platinum import law lasted 43 years. Spanish authorities repealed it in order to counterfeit gold and silver coins for themselves.
Why has platinum become more expensive than gold?
If we're just talking about metal prices, then gold is still more expensive than platinum. However, if you compare jewelry, platinum is 2-3 times more expensive. This is because platinum is more difficult to work. In addition, jewelry connoisseurs prefer the look of platinum jewelry.
Platinum Rings
Platinum Jewelry
White metal is considered ideal for pearls, diamonds, emeralds , sapphires, etc. Natural color.
Platinum is non-allergenic, non-oxidizing, non-reactive to high temperatures, and more durable. Gold jewelry is more prone to wear and tear, while platinum jewelry can retain its look for centuries.
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