Palladium: The New Platinum?

Ian Douglas, leading New Zealand jewellery designer and owner of The Village Goldsmith, gives you some secret insight into an untapped resource.

If you mention the metal "palladium", most people will draw a blank; but if you mention "platinum", your mind immediately conjures up images of prestige, quality and value.

When it comes to jewellery, platinum has long been regarded as the ultimate precious metal, due to its colour, luster, density and longevity. As a consequence, it's the ideal choice for the valuable diamond you've chosen for your engagement ring. However, it is also the most expensive precious metal, which can be a drawback when considering what ring you choose. A platinum ring will cost significantly more than it's white gold equivalent.

So what is palladium, and how does it fit into jewellery terms? Palladium is a platinum group metal that, in its latest alloy composition, has an amazing similarity to platinum. It is not as dense as platinum, and is in fact quite similar to gold. Its wearing capabilities won't rival platinum but will compare favourably with gold.

The big advantage of palladium is its cost. It's actually less expensive than gold and considerably less expensive than platinum, so it's quickly becoming a very attractive alternative for wedding rings.

So why choose palladium over white gold?
It's important to understand just what white gold is. White gold is normal yellow gold, alloyed with other precious metals to create an alloy that looks close to platinum - in fact, it was originally developed as a low cost alternative to the more expensive platinum.

However, white gold has its shortcomings. Its main downfall is its colour and finish over time. The different alloys on the market will react differently, but most will tend to dull and turn slightly grey and 'yellowish' after some period of wearing. To overcome this, jewelers will rhodium plate most new white gold jewellery. Rhodium is another platinum group metal that is very white and bright - it is this finish that most people see when they first encounter a piece of white gold jewellery. The only problem is that no matter how high quality the plating may be, it will eventually wear off. It can take months or even years if you are lucky, but it will happen. Once it does, the ring can take on a slightly discoloured, almost two-toned, look, creating disappointment for the wearer...and the only solution is to have the piece rhodium plated again, at some cost.

This is where palladium comes into its own. With a colour similar to platinum, a cost of less than that of 18ct white gold but with similar wearing characteristics, it's a wonderful alternative. You'll never have to worry about plating it, which means less maintenance costs and more enjoyment from your jewellery. Of course it's not the perfect material. There are some designs that better suit natural white gold, but if you are after the platinum look and want a more affordable alternative, then it's a very sensible choice.

Platinum will always be # 1 because of its greater density and durability for fine jewellery. However, palladium is a great alternative if you want to spend less on the metal and more on the wonderful sparkler(s) to place in it! Whatever you choose, take the time to discuss it with your jeweler and establish what best suits your needs and lifestyle.