New Year’s Resolution: Create an Inventory of Your Precious Metal Holdings

New Year’s Resolution: Create an Inventory of Your Precious Metal Holdings

Let’s start today’s post by asking two questions . . .

  • First, a pleasant question. You own precious metals, and that is good. But do you know exactly what you own, how much they weigh, and where they are located?

  • Second, an unpleasant question. If you were to die today (unpleasant!) or contract some illness that would incapacitate you for a period of time, would your heirs know exactly where to find the precious metals you own, or would they be at a loss? Or could they fail to find some of the precious metals you own?

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Why the Smartest Places to Hide Gold, Silver and Platinum Might Not Be So Smart at All

Why the Smartest Places to Hide Gold, Silver and Platinum Might Not Be So Smart at All

Have you ever shopped online for miniature safes and other “safe spots” where you can hide gold, silver, platinum and other small valuables in your home?

If you have, you know that the variety of products you will discover is nothing short of amazing. When we did some online shopping recently, here are some of the products we discovered . . .

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Storing Precious Metals Safely

Storing Precious Metals Safely

Up until a few years ago, it was difficult to see genuine videos of thieves at work. But now that security cameras are just about everywhere to record activity in public places, homes, and stores, it is easy to watch videos of thefts of all kinds. If you search for “theft” or jewel heist” on YouTube, you will find dozens of actual videos of crimes taking place.

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The False Bottom Guide . . . Where to find hidden gold and other valuables under fake bottoms

The False Bottom Guide . . .  Where to find hidden gold and other valuables under fake bottoms

Where to find hidden gold and other valuables under fake bottoms

Over the years, people have devised some very clever ways to hide valuables. They have buried jewel boxes in their yards, painted diamonds black to disguise them, stashed gold under floorboards, and hidden jewelry in hollowed-out banisters and behind loose bricks in the basement.

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Use an Organized Recycling Program for Sputtering Targets to Boost Your Company Profits by 10% or More

Let’s start today’s post with a question. When your current car has outlived its useful life, how do you plan to dispose of it? Will you reclaim its residual value by trading or selling it? Or will you drive it into the corner of your backyard, park it, and let it rust? Or maybe just drive it off a cliff?

That might sound like a dumb question. Of course, you will reclaim the residual value in your car. Yet the fact remains that many companies make unwise decisions about reclaiming the value in their used sputtering targets. Maybe those companies don’t realize how much money they are letting slip through their fingers. Maybe they are just too disorganized or poorly managed to bother to reclaim the value in their used production materials.

A Smarter Way to Reclaim the Value in Used Sputtering Targets

Image of garbage can filled with gold dollar signs, symbolizing wasted value of precious metals in used sputtering targets that aren’t recycled by Specialty Metals.

An organized recycling program can pay you back by giving you back 10%, 20% or more of every dollar you spend on sputtering targets, which can contain gold and other precious metals. If you’re spending $500, $800 or thousands of dollars on the sputtering targets you use and replacing them frequently, you can do the math. Letting those dollars slip away makes absolutely no sense.

Whether you own a company that uses sputtering targets or work in one, here are some steps to putting those dollars back in your company’s coffers . . .

  • Track the incoming sputtering targets that you buy. Know what they are, where they come from, and what they cost.
  • Inventory sputtering targets carefully to be sure you aren’t losing any to theft, disorganization, or a haphazard materials recycling program. As the old expression goes, “What you don’t know can cost you.”
  • Store your new and used sputtering targets securely. If you’re in the manufacturing business, you already do that with the products you make. If you’re not following similar protocols for sputtering targets and other materials that you use in manufacturing, now is the time to start.
  • Let your employees know that you are watching and keeping track of your inventory. You don’t want to create a climate of mistrust, but you do want them to know that if sputtering targets disappear, you will know.

Note that inventory management systems and software can help you automate the steps described above. Some use bar codes, QR codes, or even transponders to keep tabs on inventory. If you only use a small number of sputtering targets in your manufacturing, you might not need all that technology. The important thing is to evaluate your needs and implement a system that keeps you protected.

Take the Smart Next Step Today – Contact Specialty Metals

As a leader in the secondary refining of precious metals, Specialty Metals Smelters and Refiners will help you understand just how much value you can reclaim from every sputtering target you purchase and then recycle – and then help you design a detailed precious metals recycling process.

Why let dollars slip through your fingers? Call Specialty Metal today at 800-426-2344 to learn more.

Related Posts:

Don’t Throw Dollars Away! How to Mine the Hidden Value in Used Sputtering Targets
7 Strategies to Cut the Costs of Sputtering Targets and Precious Metal-bearing Manufacturing Supplies
Plating Primer: How Do Sputtering Targets Work?

 

Precious Metal Alert: Are You Protecting Your Precious Metal Holdings from Pilfering?

The good news is, there could be considerable dollar value in the precious metals, used and new sputtering targets, and other production materials that you keep on hand. The bad news is, those materials are prone to pilfering by visitors to your business or by your own employees too. Small items that contain precious metals, or quantities of the precious metals themselves, are usually easy to conceal in a pocket, a shoe, a briefcase, or elsewhere. The result could be that dollars are literally “walking away” from your company.

Image of a gold vault door, symbolizing the value of precious metals in used sputtering targets that can be refined and recycled by Specialty Metals.

If you’re a small company with only a few trustworthy employees, you might not need to worry about pilfering. Otherwise, it’s a good idea to review the following security procedures. They can help deter theft or identify individuals who have been stealing from you if losses have already occurred.

  • Control access to your premises by equipping employees with key cards or access badges. Consider using a system that generates an ongoing record of employees’ arrivals and departures from your building too – the knowledge that their movements are being tracked will help discourage any dishonest employees from pilfering your materials. Also: If you discover that a theft has just occurred, identifying the guilty party will be a lot easier if you have an accurate record of who was on site at the time.
  • Monitor, lock, and alarm exit doors. Have you ever visited a factory where employees prop open an exit door during the warm summer months? We have. Unless you prevent that, there’s a good chance that valuable materials will walk right out the door.
  • Install a second security perimeter around areas where precious metals or other valuable materials are stored. It could be a safe room or a metal security cage with access that is restricted by a card-activated electronic lock or other means. Another option: Use an “open security” strategy by storing valuable materials in a central location that is constantly in view from a main office.
  • Install video surveillance cameras prominently throughout your premises. They should be outside your main entrance, pointed from the outside at all secondary exit doors, and positioned around production machinery and in areas where valuable materials are stored. Also: Consider installing them visibly in company parking areas; they send a signal that your company is well protected against theft.
  • Have a professional security company review and upgrade your current alarm if necessary. The addition of a few features – such as a second alarmed perimeter around storage areas or cellular (not land-line) call-out to notify local police – can make your current alarm a lot more robust.
  • Minimize the precious materials that you keep on your premises. That could mean applying “just in time” production protocols, in which new sputtering targets and other valuable materials arrive just when you need them, not weeks or months ahead of time. It also means quickly disposing of used sputtering targets or other valuable materials. The longer valuable materials sit around, the greater the chances are that they will be stolen. Troubling: Many companies only discover a theft long after it has occurred - that is usually because valuable materials have been stored on site for weeks or months. We can help you with the disposal: call Specialty Metals Smelters & Refiners at 800-426-2344 to find out about setting up a regular program to recycle and refine your precious metal scrap like gold from sputtering targets.
  • Install bright lighting in your parking lot, around exit doors, and in other key areas that could be vulnerable during non-business hours. Lights are strong deterrents. Also: If you have a stand-alone manufacturing facility, avoid having extensive plantings adjacent to your building’s exterior walls. They might be attractive, but they provide thieves with a convenient area to conceal stolen items or hide.

Also . . .

Consider hiring a security company. Even if you don’t need to have a professional security guard on your premises during business hours, consider retaining a professional security company to check on your business during non-business hours. Be sure to post signs that your premises are being monitored by that company too – they go a long way toward discouraging theft.

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