Simple Steps to Protect Yourself from Gold Fakes and Forgeries

Simple Steps to Protect Yourself from Gold Fakes and Forgeries

Every few months we hear another story about a crime involving precious metals. Another one came along last week, when the Metropolitan Museum in New York packed up a golden Egyptian coffin it owned and shipped it back to Egypt, from where it was stolen in 2011. The Met acquired the coffin in 2017 from an antiquities dealer. The only problem was, it still belonged to Egypt. (You can read the full story in “Ancient Gold Coffin Returned to Egypt from New York as Looted Antiquity,” an article that was published by the Associated Press on September 25, 2019.)

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How to Get a Better Deal when Buying from Pawnshops

How to Get a Better Deal when Buying from Pawnshops

Let’s say you walk into a pawnshop to check out whether there are any gold, silver or platinum items there for sale – items that you can buy for low prices. Or you walk into a coin dealer to see what’s on display.

Let’s also say that you find what seems to be a good deal. It’s a South African Kruggerand that contains 1 Troy Ounce of gold. When you ask the dealer the price, he replies, “$1,505.00, because we sell at current trading prices.” So you go online, check trading prices, and decide that you will be getting a fair deal if you buy that Kruggerand for the asking price. So you go back to the pawnshop or coin dealer, pay asking price, and assume that everything has gone well.

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Want to Make Money by Recycling Gold Scrap?

Want to Make Money by Recycling Gold Scrap?

Don’t Overlook Gold-Plated Items

When most of us go looking for gold items to recycle, we look first for solid gold items, and with good reason. Even very small items made of karat gold can contain enough gold to make them worth a lot more than they appear – small items like stud earrings, tuxedo studs, lapel pins, tie tacks, and religious and commemorative medals.

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Why Scrap Gold Is a Better Investment than Gold ETFs

Why Scrap Gold Is a Better Investment than Gold ETFs

A gold ETF (Exchange Traded Fund) is a gold-based investment you can buy as though it were a stock or mutual fund. And like those investments, you can monitor how well your ETFs are performing, and what prices they are trading for. The companies that create and sell gold ETFs buy a quantity of gold bullion and allow investors like you and me to invest in partial ownership of them. Gold ETFs offer convenience – you can call your financial consultant at Fidelity or another investment company – and say, “Buy me some shares in a gold ETF,” and you are off and running with your gold investments. And because their performance is tied to gold trading prices, it is easy to keep an eye on how well your investment is performing.

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Where to Find Great Big Chunks of Gold

Where to Find Great Big Chunks of Gold

If you read this blog regularly, you have noticed that a lot of our blog posts give advice on where you can find little quantities of gold. We have written about how we can extract small amounts of gold from gold-plated jewelry, from old eyeglass frames, from printed circuit boards, and even from small piles of sweepings from factory floors.

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Is There a Safe Way to Hunt for Precious Metals in Old Wells?

Is There a Safe Way to Hunt for Precious Metals in Old Wells?

There are many legends about people who decided to hide their treasures in wells. One of the most common tales is that at the end of the Civil War, wealthy southern families tossed their silverware down their wells to prevent roaming Yankees from finding it.

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The Story of “Arsenic Avenue” Highlights the Dangers of Exposure to Chemicals Left Behind by Gold Processing

The Story of “Arsenic Avenue” Highlights the Dangers of Exposure to Chemicals Left Behind by Gold Processing

“Poison fears on 'Arsenic Avenue': Families forced out of their homes as studies find suburban street was built on toxic soil,” an article that appeared in Australia’s Daily Mail on September 6, 2018, points out all too clearly the health dangers that can result when people are exposed to poisons that are left behind near old gold mines.

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Are Airplanes Great Places to Find Tons of Gold?

Are Airplanes Great Places to Find Tons of Gold?

Are airplanes great places to look for gold, silver and other precious metals? Granted, the mechanical and electronics that planes hold often contain amounts elements of gold, platinum and silver. But tons of gold? Why would any plane contain that much precious metal?


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What Are Eco-Gold and Ethical Gold?

I recently overheard a young woman say, “My fiancé and I are planning to buy wedding rings that are made of eco-gold.”

That got me headed to my computer quickly so I could investigate. I quickly discovered eco-gold and ethical gold, two kinds of gold that have certain similarities. I also discovered that the gold recycling that is done at Specialty Metals Smelters and Refiners has a lot to do with both kinds. Let’s take a closer look.

Eco-gold jewelry is made from recycled gold and has a lower environmental impact. Here at Specialty Metals we're proud to adhere to the highest environmental standards.

Eco-gold jewelry is made from recycled gold and has a lower environmental impact. Here at Specialty Metals we're proud to adhere to the highest environmental standards.

Eco-Gold

This term seems to be a modern, environmentally informed way of defining gold that contains a high percentage of recycled gold. One example? Jewelry that is manufactured using gold that we have reclaimed at Specialty Metals Smelters and Refiners. People are attracted to the idea of eco-gold for some very valid reasons:

  1. Mining gold is hard on the environment and recycled eco-gold is kinder to the earth, air and carbon consumption
  2. Reusing gold is a more efficient and respectful use of natural resources than mining is
  3. In addition, many people seem to like the idea of wearing gold jewelry that is made of recycled old gold that once belonged to other people. To them, it adds to the richness and appeal of owning gold jewelry.

Ethical Gold

Ethical gold is the metallic equivalent of diamonds that have been mined responsibly. Like them, ethical gold must be . . .

  1. Mined without the use of child laborers
  2. Mined accordance with local environmental laws and labor standards
  3. Delivered with a “traceable” history that shows that it has been mined and transported legally
  4. Produced in countries that have responsible governments that are not engaged in persecution of citizens, genocide, or other unacceptable practices

What Are the Opposites of Eco-Gold and Ethical Gold?

I discovered that people who like eco- and ethical gold have coined another term, “dirty gold,” that defines gold that has been produced in ways that do not meet their environmental or ethical requirements.

Doing Business with Specialty Metals Smelters & Refiners

So, what does this all mean if you recycle gold with us at Specialty Metals Smelters and Refiners? For one thing, you will be doing the right thing by recycling your gold with us, because every ounce of gold that we recycle and refine here is an ounce of gold that does not need to be extracted from the ground. From an ethical perspective, we have a long history of adhering to highest ethical and environmental standards.

We also believe that the demand for eco-gold and ethical gold can only be good for our industry in the long term. Doing things responsibly is best for everyone who works in the metals industries.

Related Posts:

On Earth Day, Let’s Agree to Recycle Metals Responsibly
The Mystery and Mastery of Gold Refining
As Gold Supplies Dwindle, Demand for Recyclable Gold Will Remain High
How the “Romance Factor” Can Distort the Perceived Value of Gold