10 Interesting Facts About Palladium

You may have seen in the news that the price of palladium has been consistently going up in the last few years, and even more so in recent weeks. We thought this would be a good time to tell you a little more about the metal, why this rise in cost is important and what it means for your jewellery.

10 things to know about palladium

1. Palladium is a lovely bright white metal which shares many characteristics, including colour, with platinum. If you want the same crisp white colour in white gold, it would have to be rhodium plated multiple times in its lifetime. Of course since palladium is already this colour, the bright hue won’t change.

2. Palladium’s valued for its strength, resistance to scratching, and is light weight. A palladium wedding ring will weigh 40% less than an identical ring in platinum. This means it’s great for chunkier designs, men’s wedding rings and earrings which would be heavier. Potentially they would be more uncomfortable for some people if made in platinum for example.

3. The name for palladium comes from the Grecian goddess ‘Pallas Athena’. Consequently, the traditional fineness symbol that can be part of the hallmark shows her wearing her helm. Many people love the idea of having the goddess of wisdom and war represented in their jewellery, offering strength and counsel.

4. The palladium hallmark was introduced in 2010, although many jewellers were apprehensive to work with such a new metal. As a result, it doesn’t get seen as frequently on the high street compared to white gold or platinum. We’ve worked with palladium for over 14 years and have developed lots of expertise with the unusual metal.

5. For those with sensitive skin, palladium is hypoallergenic and shouldn’t cause irritation. We have heard reports that some people who are allergic to nickel may also be sensitive to palladium, however our customers haven’t experienced this.

6. It is predominantly mined in South Africa and Russia, and is mostly used in the automotive industry, with more than 80% going towards the manufacture of catalytic converters.

7. Generally, palladium is mined as a by-product of platinum and nickel which makes it an interesting ethical alternative as no new mining takes place.

8. When the palladium hallmark was first introduced, it was significantly less expensive than it is now. The price of palladium has skyrocketed by almost 400% since 2016. Now it’s twice the price of gold and more than twice the the price of platinum. One of the main reasons for this is the increased demand in the car industry.

9. Palladium is also used in 18ct white gold as one of the metals alloyed with the it to give it the white colour. The changing price of palladium has had a significant knock on effect on the price of 18ct white gold too.

10. Anyone that has bought a palladium or 18ct white gold ring in the last 15 years or so will find that their insurance value will have gone up significantly, even if the piece is only a year old. Please check that you have an up to date valuation of your jewellery to ensure that you are properly covered.