According to mgsrefining.com as of May 3, 2013 the price of
gold topped out at $1,476.50 per ounce.
With gold prices rising since 2008 jewelers like Shirlee Grund (USA), Dominika
Syczynska (Poland), and Karyn Chopik
(Canada) work with alternative metals to great effect. Sterling silver, titanium, bronze, copper and
brass are breathtaking substitutes.
However, another metal has emerged onto the jewelry making scene that challenges the durability and purity of 18-karat gold at a slightly lesser cost. For this edition of Splendor Sidebar I introduce you to the other white metal: palladium.
Discovered two centuries ago, in 1803, by chemist William
Hyde Wollaston, palladium belongs to the PGMs (Platinum Group Metals) as it is
“extracted from the same mineral deposits as platinum.” This rare, hypoallergenic and substantial
white metal has been routinely used in various industrial applications like
electronics and fuel cells.
Though jewelers like Cartier
enlisted platinum into its jewelry creations as early as the Edwardian period
(1901-1910) it would be nearly four decades, in 1939, before palladium became a
go-to metal. This shift, however, would
be short-lived.
Due to its inflexible chemical structure the metal was
sparingly used by jewelers. The metal
was only used to produce wedding rings during World War II when platinum was
“reserved for military use.”
Conversely, jewelers retired palladium at the conclusion of
the war deeming the metal too challenging to cast. Fortunately the “out of sight, out of mind”
mentality is not prevalent with many jewelers of today and the metal would make
a resurgence.
The present economic downturn has become a virtual launching
ground for palladium. As jewelers look
for cost-effective materials to produce their collections many including Barbara Heinrich (Germany), Keiko Mita (Japan) and Todd Reed (USA) have turned to
palladium.
Not only is the cost of palladium appealing (it topped out
at $701 on May 3, 2013) but also its strength, purity and light weight. At the present time a number of jewelers have
worked diligently to give the metal pliability for casting pairing it with 5%
of ruthenium, cobalt or iridium.
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| Palladium Necklace Design by Lloyd Pasach |
With the inclusion of one of these alloys the metal is 20%
purer than 18-karat white or yellow gold; and the cost of palladium jewelry
rivals price points of jewelry made with 18-karat white gold. If that is not enough palladium is also
comparable in every way to its sister metal platinum as the snowy toned metal
shares many of platinum’s characteristics.
According to Sorella Jewelry Studio palladium “has
re-emerged in fine jewelry. Though it is
12% harder than platinum it is 40% lighter in weight so it is a popular choice
for larger designs, earrings and wedding bands.
It is mined only in Australia, Africa, Russia and North and
South America. Surprisingly even though
the metal has had a fairly long history, it is relatively unknown to our
customers and we often suggest it as a replacement for white gold. This is a precious metal that has a lot to
offer.”
That’s the scoop for this edition of Splendor Sidebar. For
additional information on palladium metal be sure to visit luxurypalladium.com.
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