Not long ago we were chatting with a with a young man who was just starting to invest in precious metals. As we were talking, we realized that he thought that an alloy was something that results when two pieces of metal are welded together. That’s incorrect. (See the definition of “alloy” below.) He also thought that the process of annealing means melting a piece of metal. That’s again incorrect. (See the definition of “annealing” below.)

If you are considering selling gold to a gold recycler or having them extract gold from scrap you own, here are some important questions you should ask:

Precious metal refining companies specialize in the extraction and purification of precious metals, such as gold, silver, platinum, and palladium, from raw materials such as ore, electronic waste, and scrap metal.

If you ask “Where can I find a gold refinery near me?” online, you will get a lot of hits. Depending on where you live, you will find listings for “we buy gold” businesses, scrap metal yards, jewelry manufacturers, and probably more kinds of businesses too. 

If you search for “class rings” on eBay, you are going to find a lot of them for sale. There are old high school rings and old college rings. And if you visit a junk shop, an antique store or even a pawnshop, chances are you will find class rings for sale in them too. Why? There are a lot of reasons. Sometimes when people need cash, an old school ring is the first thing they think of selling. And then there is the unfortunate fact that when people pass away, their heirs often end up with the deceased person’s valuables, which often include a class ring or two.

It’s easy to junk a car. You call a local company that runs ads that say, “We buy cars” and they come and tow your car away.

Yes, that’s easy. But if you dispose of your old car that way, chances are good you will be giving away gold, silver and other valuable materials that can be worth $100.00 or more. So . . . pull them out before you junk that car and talk to us about recycling them.

What is the most powerful small metal detecting tool you can carry in your pocket? It’s your smartphone.

Only five or six years ago, we would have advised you to carry a small digital camera with you on your prospecting adventures. Now that is no longer necessary, thanks to the powerful cameras that are now built into phones.

But there are many more apps you should install on your phone, if you haven’t already, including:

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?

Sometimes a customer will call us up and ask how we can recycle items that are relatively simple and straightforward to process. If you have a platinum engagement or wedding ring, for example, you can send it to us so we can test it and retrieve the precious metal it contains.

If you are investing in precious metals, chances are you know that gold is currently trading for $1778.30 on the London Fix. But did you also know that over the last five years, the trading price has increased $434.00? That’s an increase of about one-third. That means this is a good time to sell the gold that you are holding.

We have written many posts in the past about how to sell your gold scrap, silver scrap and platinum scrap for the highest prices.

Today, we would like to explore a related question . . .

At Specialty Metals Smelters and Refiners, we are all about recycling gold scrap, silver scrap, and platinum scrap too.

But for our post today, we are stepping a bit out of our zone and writing about non-precious metals that you can recycle for money. (Certainly not as much money as you will get when you recycle gold, silver, and platinum but hey, money is money.)

Sometimes it is hard to resist climbing into a dumpster and looking around. Who could resist dumpsters that look like these?

We have written before about burning materials or exposing them to very high heat, as a way to extract the gold, silver, platinum, and other metals they contain. Today, let’s review and also tell you about some additional materials that can be processed in this way by a qualified precious metals refinery like ours.

We recently had the opportunity to visit a metal scrapyard – one of those big outdoor places, five acres or more, that are littered with stuff like piles of aluminum windows, with machinery and even with big car and truck engines. It was quite an impressive site. And it made us realize that people can get scared when they start thinking about investing in metals of any kind.

Have you visited your town dump lately?

If you have, you have noticed that people are tossing out an awful lot of electronic items. During this period of sheltering at home, they are cleaning out their closets, basements garages and other places where they have stowed a range of electronic devices that include old and unwanted . . .

Don’t worry. When you call us to discuss sending your precious metals to our refinery for testing and processing, we will explain what you need to do to send them safely.

The purpose of today’s post is to help you avoid some of the more common mistakes people make when sending precious metals – and valuable items of all kinds – to other people and businesses.

Lots of self-proclaimed experts in the world of precious metals are saying negative things about pawnshops these days. But the fact is, many pawn shops are run by honest people. Although there are stories about people being treated poorly by pawn shops, they can be good places to sell certain items under certain circumstances. For example, they offer a chance to get short-term loans against the value of possessions that you probably aren’t in love with anyway. Although you could stand to lose those items, who else is going to give you a quick way to generate cash from them? Really nobody.

Have you ever been to a pawnshop? If you have, chances are you have been surprised to see that a pawnshop looks just like any other store. There are display cases, counters, cash registers, and other familiar fixtures. Chances are you were greeted by a polite individual who treated you respectfully, and who was happy to discuss the details of your transaction.

Recently, a man wanted to sell some old gold filled jewelry that he had inherited from an elderly aunt. There were actually quite a few items - a bracelet, a few old rings, a necklace with a pendant attached, a small decorative pin, and a few other items. So the man put all those items in a Manila envelope, got in his car, and drove to a store that displayed the sign, “We Buy Gold.”