Platinum jewelry is often asked about in jewelry stores, especially when shopping for an engagement ring, but seldom well understood.

Platinum was first used in the late 19th century by Louis Cartier and the high end brand still has his name to this day. (If you're in New York, stop by the Cartier flagship store to be amazed by the décor and jewelry. This stuff is for the kings and queens of the world.)

Let me cut to the quick and be clear about the facts that you may want to consider in deciding to buy Platinum or not for an engagement.

It is not gold or silver. It is as different as an apple is to a banana. It is typically made of 95% platinum which is denser, and more durable, than gold. Comparatively, 14k gold is defined as an object that is 58.5% gold.

Platinum is naturally "white" in color and is practically immune to corrosion or oxidation. ("White" gold is made from yellow gold because yellow IS the only color of gold naturally out of the ground. Jewelers mix white metals with yellow gold and then plate the 14k ring with RHODIUM to give it better lustre and the "white" appearance you see.)

Platinum is 30 times more rare than gold and is typically much more expensive to purchase than gold. However, their prices on the market are very near each other now because gold is unusually high.

When polled, one study showed that 81% of women preferred platinum for their engagement ring. One reason that many people who want it don't get it is because of cost (it's more expensive typically than gold) and availability (many stores don't carry it so they don't talk about it.)

And one of the biggest reasons women want it is because it's naturally "white" unlike white gold which will need re-plated from time to time.

Unknown to most customers is that platinum's durability will prevent loss of set diamonds because platinum really does not wear away from a ring as it comes in contact with the world. You know...shopping carts, file cabinets, and gardening - all the places your hands go in a day.

Lastly we, as jewelers, need to offer customers platinum as an option when deciding to purchase the most important ring of their lives and for about 10-15% of the population that option is platinum.

Abby's carries several rings everyday and can order any gold ring you see anywhere in the most noble of metals -- platinum.

Last month, I told you about the massive movement to sell gold, silver, and coins where people seem to be downsizing and cashing out.

This month, I can relate some information about the other end of the spectrum where newly engaged couples are just starting out in life, accumulating the things that the Baby Boomers are getting rid of. And of course, the place to start a new married life is with the engagement ring.

Here are some of the facts:
Over 50% of all women do want side diamonds around or on the sides of their round or princess cut center diamond. Of course, white metals now constitute over 90% of all rings sold with 14k white gold being way ahead of platinum and palladium, the new metal on the block.

(We've just stocked platinum for the first time in 2 years last fall and can report better than expected sales. I just bought 5 more platinum pieces and 5 more palladium ring, too.)

The antique style and halo style are predominant and many girls want negative or "air" space in their rings in the form of a split shank or cut-outs of some type.

One carat is no longer "the bomb". Young women today want to start at 1 1/2 carats and 2 carat sales are also better than expected. The price keeps the guys from going much above 2 carats because even a middle quality 2 carat can reach $10,000 without the ring to put it in.

Here's the thing, though, that is most surprising...with all the world turmoil and debt problems in the news and unemployment figures that are devastating so many people, there are still people looking to spend their money and energy finding a diamond ring that costs twice as much today as it did 10 years ago!

And they want quality...whether they can afford it or not, so the job becomes getting the best quality they can for the money they want to spend.

Now, when the Boomers do come in for their 25th or 40th wedding anniversary, they too want to spend some bucks. A purchase like this is a reward to themselves for getting the kids through college, paying off the mortgage, etc. Whatever the reason, they want quality, beauty, and they are willing and able to pay for it.

So, as I started out saying last month...go figure. The jewelry business is enjoying great demand at a time when you'd think it would be tanking. It shows that people really are optimistic and that diamonds are a manifestation of that "move on up" thinking.

And you know if it's good here, it's even better for the emerging classes in the East, and I don't mean Philly. I mean India, China, and the surrounding countries like South Korea and Vietnam where the middle classes are coming up. That's what is driving the prices up for gold and diamonds: the demand for all those goodies that we aspire to is even more important in these other countries. It really is a global marketplace.