On the surface level, this is an easy question to answer: rich people sell platinum because platinum is valuable and that gives them money. But it’s not a dumb question, so it doesn’t deserve a dumb response. After all, why would rich people sell platinum, especially since it is such a rare and valuable thing to acquire in the first place? Isn’t it hard enough to get platinum for your jewelry? Why sell it right back?

But if we dig deeper into platinum, and into the global economy itself, we gain a new and better understanding of how rich people handle their money and how platinum plays its role. We can better understand how platinum can also be used to make money you previously didn’t have, and then explain how this money can appear for people of all classes, even if they own just small amounts of platinum.

Here are a few reasons rich people might decide to sell platinum, as well as a few reasons you might want to consider doing the same.

Reason #1: Platinum is a Solid Investment for Buyers

Wait – for “buyers”? I thought we were talking about sellers here. Well, we are, but there are two sides to every business transaction. For platinum buyers, platinum is a precious commodity like gold that can represent an ideal long-term investment for future stability and prosperity. Platinum is extremely valuable – usually at over $800 per troy ounce. Consider that a troy ounce is only about 31 grams, and you have a good idea about how expensive platinum can be!

So why would rich people sell it? Exactly because it is so highly priced and touted as a precious metal. Similar to the prices of gold, platinum is a potent way to sink a lot of money into the market. And selling just a troy ounce of platinum can yield hundreds of dollars, giving plenty of incentive to sell it, especially if you have a surplus that you don’t know what to do with.

Reason #2: Avoiding the Pitfalls of Any Particular Currency

One thing that rich people have over us regular folks is that they really know how to work the systems. For instance, did you know that by putting your money in the bank, or simply “saving it somewhere,” you might be making a bad investment? Let me explain in some further detail.

If you have dollars in your possession, it could be said that you’re invested in dollars, if you want to see it that way. If you’re invested in dollars, and the dollar weakens against other currencies like the Euro, then the value of your investment decreases. Even though it doesn’t feel like you’re doing anything with your money, you can still be losing it.

While currencies go up and down, it’s possible to avoid these kind of fluctuations by putting money – and taking it back out of – individual commodities like platinum or gold. By sinking a lot of money into platinum, one can essentially “keep it in the bank” while hoping for a better return than in a time when the dollar is weakening.

If the dollar rebounds, rich people might be inclined to take their money back out of platinum – selling it – and putting it back in the bank. They can make money simply by playing the “banks” right, so to speak.

Reason #3: Even Spare Platinum Makes Good Money!

Rich people might also decide to sell some of their “spare” platinum, such as in a piece of jewelry that no longer holds any emotional significance to them (as depressing as the thought may sound), or simply selling some jewelry that isn’t used anymore.

Rich people understand that letting platinum sit there doesn’t help anything, unless you’re a dust collector. Putting platinum to work – even in unwanted jewelry – helps make the most out of every possession you have. And, if feeling particularly charitably, the generous rich person might decide to sell his or her platinum jewelry and donate the proceeds to charity.

As you can see, there are plenty of reasons to sell platinum – as well as plenty of reasons to buy it. The more you understand about economics, currencies, and commodities, the better of a position you’ll be in to take advantage of fluctuating prices, and the long-term benefits of owning a precious commodity like platinum.

Even the non-rich among us can sell their scrap platinum. Work with a precious metal broker to see what you can get for your scrap platinum – they will recycle and melt down the platinum for industrial re-use. Check it out today.