How to Pick the Best Precious Metals Recycling Company

Finding the best gold refining company, the best platinum refining company, or the best refining company for your other precious metal bearing scrap looks like a simple process on first glance. You locate a company that will pick up your metals or accept them via shipment. You send in what you have. You get paid.

Photo of platinum and gold bars, precious metals that Specialty Metals refines and recycles from scrap catalytic converters and sputtering targets and more.

That’s a simple process, right? But it also exposes you to risk. What if the company you found doesn’t tell you the truth about the content of the items that you’d like to recycle? What if it underestimates the value of the precious metals that your recyclable items contain? And what if the company you found takes months and months to pay you, or never pays you at all?

Your Bill of Rights as a Customer

If you’re searching for a company to recycle the precious metals that you have on hand, here’s what you have the right to expect.

  • Honesty. If a company doesn’t have integrity, nothing else matters. But how do you know? The best way is to ask if you can speak with two or three of its customers. Another way is to check with the Better Business Bureau online to see whether any complaints have been filed against the company you are considering. If you find a complaint, ask the company about it and how it was resolved.
  • Prompt payment. When you contact customers who have used the precious metals recycling company you are considering, be sure to ask how long it takes to get paid. A company that takes months to issue payment is not worth considering – and slow payment could indicate that the company is not sound financially or that it could go out of business.
  • Expertise and openness. Recycling precious metals isn’t like recycling cardboard or plastic. In most cases, it is highly complex. You have the right to deal with a company that will explain everything about the recyclable materials you have. When you call the company, you should be connected to an expert – or an expert should email or call you back within the hour. That person should be able to explain: the kinds of precious metals that could be contained in what you have to recycle; their potential dollar value; the process that will be used to extract your gold, palladium, or other precious metals; and any possible issues that could occur during recycling that could affect your payment.
  • Documentation. You should ask for, and receive, written estimates for your upcoming recycling. And once the process has been completed, you should receive full documentation for the recycling and the monies that you received. As your accountant will tell you, you will need that documentation when you file your taxes. There’s another reason too. If you know the potential dollar value of recyclable materials that accrue when doing business – be they platinum-bearing thermocouple wires, lots of 500 used catalytic converters, or old cellphones – you get a better handle on your company finances and cash flow in the future.
  • Verifiable values. You should be paid for your precious metals at prices that you can verify. This is the reason why, at Specialty Metals Smelters and Refiners, we post the latest London Fix prices right on our home page. You will be paid those prices – and you can verify them on your own.
  • Environmental responsibility. Although getting fair value and prompt payment for your precious metals is your first concern, you should also get assurances that the company you’re dealing with recycles responsibility. After all, the items you send in to be smelted contain more than just gold, silver, or other precious metals. Most also contain plastics, base metals, and other materials that must be recycled or discarded responsibly. When you speak with a representative of a company you are considering, be sure to ask about its overall commitment to the environment.

Do Business with an Honest, Honorable Company like Specialty Metals Smelters and Refiners

Specialty Metals Smelters and Refiners is proud to comply completely with all the requirements, practices, and standards that are described on the Bill of Rights above. We’ve been in business for 32 years and we’re here to explain how you can get the maximum return for your recyclable precious metals. To learn more, call us at 800-426-2344 today.

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