Save Money On Your Engagement Ring

Engagement Ring and Wedding Ring Money Saving Buying Tips

Precious Metal
Another way to cut the cost of an engagement ring is in choosing the right metal. Consider an engagement ring made with white gold instead of platinum or palladium. White gold is a good alternative as it looks like platinum and palladium but is much less expensive.

Or consider a 10 karat (10k) or 14 karat (14k) ring instead of an 18 karat (18k) or 22 karat (22k) ring. Generally, two-tone rings and those with intricate patterns or etching on the metal are also more expensive than those plain ones.


Buy the Engagement Ring with Wedding Bands
Chances are that if you are in the market an engagement ring, you will be also in the market for wedding bands. Certain ring designers will produce engagement rings with matching wedding bands which are sold as a set. A set would most likely be less expensive that individual rings. Buying a set can save you money. If the engagement ring and wedding rings are no a set, consider buying both rings from the same jeweler. The jeweler will be more inclined to give you a discount if you buy both.

Purchasing the Diamond and Setting Separately
You may also find that buying the diamond and setting separate from one another can save you some money. It also allows you to choose exactly the type of ring that you want and be able to see it before the stone is set.

While there is nothing wrong with buying the diamond and the ring from the same jeweler, don’t make the mistake of overpaying for the diamond or the ring separately by not understanding of what each cost on their own and doing comparison shopping.

Other Tips to Save Money Buying An Engagement Ring: Engagement Ring On The Cheap,   Engagement Ring For Less,  Save Money When Buying The Diamond,  Drop The Diamond For Another Gemstone

Palladium

Palladium as a Ring Metal

Palladium is an extremely rare silvery white metal. It is considered to be a precious metal. It is one of the softer metals in the platinum group. Palladium is becoming a popular alternative to platinum and white gold for engagement rings because its price is between that of gold and platinum. While palladium costs less than platinum, it has many of the visual and strength attributes that make platinum popular. Palladium does not react with oxygen and therefore will not tarnish. Palladium alloys are generally 95% pure, making it hypoallergenic.


Other Popular Metals Used For Engagement Rings: Gold, Platinum, Titanium, Silver

Platinum

Platinum as a Ring Metal

Platinum is a precious metal that looks similar to white gold. It is over 30 times rarer than gold but, at current prices, only commands about twice the price of gold. Platinum’s workability is third to that of gold and silver. Platinum is resistant to corrosion. Platinum, like gold, is hypoallergenic.

Platinum used in jewelry is usually a platinum alloy, a mixture of six other related metals: platinum, palladium, iridium, rhodium, ruthenium and osmium. But sometimes it is also mixed with copper and titanium. The platinum used in jewelry is usually 90% and more in purity, meaning that platinum makes up 900 out of 1000 parts of the metal. The purity grade is expressed as 900Plat, Pt900, or 900Pt.

It is highly suggested that you not get a platinum engagement ring with less than 90% platinum because the alloys may change the color of the platinum or reduce its durability.


Other Popular Metals Used For Engagement Rings: Gold, Palladium, Titanium, Silver