We would like to tell you a story that illustrates the fact that you could make a lot of money, simply by recycling quantities of gold, silver and platinum that could be hiding in plain sight in companies that manufacture or repair jewelry, dental appliances, silverware, or other common products.
Here’s the story…
A few years ago, we had a call from the son of a man who had just passed away. His father, it turned out, had owned and operated a small company that manufactured and repaired jewelry made from gold, silver and platinum. Over the course of years, his father had simply collected sweepings from his worktables, machines and floors and set them aside in plastic garbage bags. Could we take a look at what was in those bags and determine its worth, the man wanted to know? We could. And we did. And when we were done testing all that dirt and powder, we were able to tell him that each of those bags contained about $15,000 worth of gold, silver and platinum. That is not a typographical error – each of those bags brought the son $15,000.
How Is That Possible?
It is possible because common operations that take place in many industries produce very small quantities of gold, silver, and platinum powder and small pieces. Sometimes, it is obvious that these little bits of precious metals are being produced. When a jeweler resizes a gold ring to make it smaller, for example, he snips out a piece of the ring before soldering it back together. The little piece he removed is very easy to see. Or when a plating company cleans tanks by scrubbing their walls and pipes with a steel brush, it is only logical to assume that the powder and scrapings contain silver, gold, or whatever metal was being used in the plating tanks. Or when a gold dental bridge is filed or drilled, small quantities of gold dental scrap are produced.
Those are times when small quantities of precious metals can easily be seen by the naked eye. But do you know that there are other processes that produce very small, nearly invisible dust that contains precious metals – dust that can really add up in value if you collect it and send it to a precious metals refinery like ours to be processed?
When a jeweler polishes gold jewelry on a buffing wheel, for example, tiny quantities of karat gold jewelry scrap are actually removed from the ring, bracelet, charm or other piece that is being processed. The same holds true when silver tableware is polished before it is packaged and shipped to retailers.
How Can You Cash In On Precious Metal Scrap Like This?
If you operate a company that engages in the kind of processes we describe in today’s post, make it a regular practice to sweep off all work surfaces, floors, and even windowsills, cabinet tops and other places where metal powders or dust accumulate. Do the same thing if you happen to be cleaning out an old manufacturing or repair facility where precious metals were used. Collect what you find, then call us at 800-426-2344 and send what you have to us for testing. We are often able to offer free or discounted shipping on items that are sent to us for testing. Mention today’s blog post and be sure to ask.
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