One of the oldest conversational pieces between two people who are quibbling over a trade is for one side to ask the other, “why do you want this so much?” Indeed, when you receive competition for your possessions or your business, it can be a little off-putting; you feel like someone is simply out to get value from you in some way, and you’re not sure where.

This can be the case with the online metal broker industry some times, but keep in mind that you’re looking at a healthy competition that works in your – the seller’s – favor. Online metal brokers are looking to beat out the competition for your precious metals, turn a nice profit and help recycle the metals for industrial re-use.

Okay, so you get that: sure, you understand why online metal brokers would be so interested in metals like silver and gold. But why the interest in platinum too – isn’t platinum so rare that it’s not always practical to work with? These questions will be answered as we take a deeper look into why online metal brokers buy platinum.

First, it might help to understand why someone would sell their platinum to an online metal broker in the first place. In understanding this, we gain deeper insights into why this trade can be win-win for both parties involved.

Why sell your platinum?

For a trade to work out on both ends, there has to be one person willing to sell and another one willing to buy. In this case, your role is as the seller: you’re looking to unload some platinum scrap, broken platinum jewelry, or old unwanted articles of platinum that you no longer have use for.

If this stuff is just “scrap” to you, why on earth would an online metal broker want to buy it? You see the benefit of selling your metals and getting a nice hefty check in the mail, but you fail to see the practicality of buying up metals.

Consider for a minute that there is an industry that works off of the precious metal scraps that others are willing to part with, buying up small and large bits of silver, gold, and platinum in order to not only recycle these metals, but melt them down and set them for industrial uses. You’ve never questioned the practicality of recycling materials like aluminum and paper; so why question it when it’s something even more valuable like gold or platinum?

What online metal brokers do with your platinum

Online metal brokers don’t only re-sell their precious metals for a profit, they provide a couple of services when they take your scrap metals off of your hands. Most of us own jewelry, but how many of us know how to safely melt it down and re-distribute for further use? And we know people who own jewelry, but do we contribute to the supply of precious metal by gathering up the scraps of that jewelry and melting it down in one place?

These precious metals have a high resale value that more than justifies the purchase of the online metal brokers, who don’t offer you a market price for your metals but will give you a fair amount that you can receive very quickly. Platinum, especially, is a metal that will yield a lot of dollars for the small amounts it’s usually found in.

These precious metals have a lot of industrial uses, including as conductors of electricity. Platinum, especially, has industrial uses with its resistance to both corrosion and heat, making it more useful even if it’s still rare.

What you stand to gain

If you’ve never tried to buy up platinum, melt it down, and re-sell it to industries, then you might not have an appreciation for the demand of platinum scraps. However, if you possess some platinum scraps already and simply need a place to unload them in exchange for at least something, you’ll be pleasantly surprised by online metal brokers. They offer fair prices for your metals, allowing you to feel like you got your money’s worth.

To gain even more knowledge about why online metal brokers buy platinum, buy some up for yourself. Host a platinum party in which you buy some of your friends’ and family’s scrap platinum and attempt to sell the platinum for profit. Just be sure you know what you’re doing before you try to turn a profit. There are some who get so knowledgeable enough to melt down their own metal, but you’ll want to avoid this until you’ve gotten more advanced in your knowledge of precious metals.