The present invention is directed to a method for recovery of platinum from a coating on a component, wherein the coating includes platinum aluminide, the method including: contacting the coating on the component with a reagent solution, the reagent solution including a reactive species capable of solubilizing an aluminum salt in water, which results in formation of a platinum-rich residue on the component; separating the platinum-rich residue from the component; and collecting the platinum-rich residue. The reactive species may be hexafluorosilicic acid.