At Specialty Metals, Smelters, and Refiners, we understand the importance of discerning the true nature of your precious metal scrap. Whether you're a jewelry enthusiast, a medical device manufacturer, or a collector, knowing whether your material contains platinum, iridium, or a combination of both is essential for ensuring its value and utility.

In the world of precious metals, accuracy is paramount. Whether you're a seasoned investor or a newcomer to the industry, the quest for precise readings on metal composition can be fraught with challenges. One such hurdle comes in the form of X-ray guns, which, while widely used, may not always deliver the accuracy you need.

What do you get when you mix platinum and iridium, two ultra-valuable white, shiny metals? You get a very valuable alloy with high density and resistance to corrosion and oxidation, even at high temperatures. Those characteristics make the alloy particularly useful. 

Gold is all around us. It’s in the jewelry we don’t wear anymore, in the old cellphones that are gathering dust in our homes, and of course, in our cars. 

But just because gold is present doesn’t always mean it is worth recycling, for one of these reasons:

But We Predict Demand for Them Will Only Continue to Rise

LKAB, a government-owned Swedish mining company, recently discovered Europe’s largest deposit of rare earth metals in northern Sweden. The possibility of mining significant quantities of these rare elements in Europe is big news.

Here at Specialty Metals, we are big fans of precious metals. Why? Because we have had the privilege of helping customers realize remarkable profits by reclaiming gold, silver, and platinum from precious metal scrap of all kinds.

Yes, we are enthusiastic about investing in precious metals. But our enthusiasm stops short when we hear from clients who have gotten carried away and bought precious metal items and scrap that they shouldn’t have.

Here are some categories of precious metal items that are unwise investments because they promise very little, if any, return on the dollars invested.

Metal detector enthusiasts in the British Empire have been making remarkable discoveries lately. In Kent, England, a pair of treasure hunters found a horde of gold coins dating from the 14th century that are worth about $20,000. And just last week in Suffolk, England a butcher with a metal detector discovered about 750 Roman-age coins buried in a field. Their value? Priceless.

Do you love making money by investing in precious metals? Do you have a son or a daughter who is interested in precious metals too, and who could potentially want to make a career working in the field?

Conspiracy theories seem to crop up about topics and celebrities that people find fascinating.

• JFK? He didn’t really die . . . and conspiracy theorists know he is coming back.

• The walk on the moon? . . . it never really happened.

• The world’s money supply? . . . it’s all controlled by a secret society that’s headquartered in Switzerland or under the Great Pyramid.

Okay, you can doubtless add more conspiracy theories to that ridiculous list. But we want to add some others of our own to it. They are all conspiracy theories, or at least crazy theories, about gold.

Now Open in the Paramus, NJ Jewelry Exchange on Route 4 West

For more than 40 years, Specialty Metals Smelters and Refiners of Fairfield, Connecticut has been testing, recycling, and refining gold, silver, platinum, and other precious metals for individual and corporate clients. Now, after serving customers nationwide, Specialty Metals is opening its first retail store. Customers can make an appointment to stop by their booth at The Jewelry Exchange, (located next to Chuck E. Cheese) at 275 Rte 4 West, Paramus, NJ 07652 (when you walk in turn right and they are the first booth along the wall) for expert advice, advanced testing and refining services, or to sell precious metals, jewelry, or fine watches.

There are times when buying precious metals is a very clean business. One example? You walk into an estate sale and buy a set of sterling tableware in a wooden storage box. Then you carry it to your car and drive it home. Your hands don’t even get dirty, and neither do your pants.

One good thing about gold, silver, and platinum is that those metals are malleable and easy to reshape.

However, malleability can cause problems, because stolen items made of gold can be easily altered and sold. That neat little gold bar or pair of earrings you just bought could have been a stolen ring only a few weeks ago. Who knows? It is impossible to trace. And the same problem exists when you are buying items made of silver or platinum.

“Over the last few years, my mother has spent about $500.00 to buy collectible coins she has seen advertised on television. They weren’t made by the U.S. Mint and seem to be base metal coins covered with an ultra-thin layer of gold or gold-toned metal. She is sure they are going to appreciate in value because they were advertised as rare. Should I tell her that she has made a bad investment or just wait for her to find out when she tries to sell them?”

- James, from Columbus, Ohio

Have you ever seen a video of sharks that are feeding? It’s not nice to watch, because sharks get into a “feeding frenzy.” They’re not asking other sharks whether what they are eating is tasty or a healthy choice. They’re just going wild, trying to satisfy their instinctual desire to eat.

Although people who invest in precious metals are a lot smarter than sharks, they sometimes engage in similar behavior. When they get the idea that they can make a lot of money by making a certain investment, they get into a kind of frenzy and can make investments that are unwise.

Yes, it will. Why? Some of the reasons will surprise you.

Inflation, which everyone is worried about, can actually make it more profitable to invest in precious metals. There are several reasons. One is simply that the prices of precious metals will rise, along with the prices of everything else, due to inflation. Another reason is that manufacturers of electronic devices, jewelry, thermocouples – and everything else that contains precious metals – will be paying more for the precious metals they need to make their products. So your gold scrap, platinum scrap, and silver scrap will be more in demand and will therefore rise in value.

Holiday gift-giving season has started. You could give the people on your list all kinds of great presents – kitchen appliances, car accessories, actually anything you think they would like.

But if you are in a generous mood, we have a suggestion for you . . .

Cobalt is used in batteries that power phones and other rechargeable devices. It is also used in the batteries that power electric and hybrid cars. It could be the precious metal scrap of the future.

How much cobalt is found in, say, a battery that powers a Tesla? According to that carmaker, cobalt makes up only about 5% of the weight of its batteries. Furthermore, Tesla and other makers of electric vehicles are trying to reduce their use of cobalt because it is scarce and doggone expensive. Tesla is trying to find ways to eliminate cobalt entirely and shift to lithium-ion batteries. Why? Because although lithium is scarce, it is not as scarce as cobalt.

If you’ve been following current events, you know that legislation could soon be passed by Congress that will result in improvements in our country’s infrastructure from coast to coast. Bridges will be built and rebuilt, roadways will be improved, internet access will be improved in underserved areas, and many more improvements are planned.

If you’ve been following current events, you know that legislation could soon be passed by Congress that will result in improvements in our country’s infrastructure from coast to coast. Bridges will be built and rebuilt, roadways will be improved, internet access will be improved in underserved areas, and many more improvements are planned.

You find an item that’s made of metal. You don’t know exactly what it is. But that doesn’t mean it isn’t worth a lot of money. Why not call Specialty Metals to find out?

What are the latest techniques in metal testing to be sure you are getting full value?

One thing for certain is that the old-fashioned kind of test that you have probably seen performed – the one where you rub a piece of jewelry on a stone and then drip some testing fluid on it, wastes a small quantity of precious metal. Why? Because in order to do the test, you have to rub off a quantity of that metal, you cannot reclaim it.