We hope you made a lot of money in 2020 by having us test and recycle your silver, gold and even platinum scrap. But as you have noticed, a new year is dawning, so we would like to remind you that there is money to be made – sometimes a great deal of money – by investing in these additional forms of precious metal scrap.

There are many reasons why this is a good time to make money in precious metals. Manufacturing businesses are downsizing or closing, and that gives you an opportunity to buy gold scrap, silver scrap and even platinum scrap from them. Jewelry stores are closing too. General businesses are downsizing too and selling off computers and other electronic devices. And then there is the fact that in the current economic climate, which is harsh, some people are eager to sell jewelry, household items, and other personal possessions that contain precious metals.

Investing in precious gold scrap, silver scrap and platinum scrap is not gambling, for a very simple reason:

When you invest in precious metals, you are relying on experience and knowledge to reduce or even eliminate risk. When you are gambling, you can’t eliminate risk completely.

When one investor was examining a batch of thermocouple wire, for example, he was able to know what it was because he had seen the same kind of wire before. He knew how much silver was contained in the thermocouples he was looking at, and he knew what it would sell for. So he applied his experience and knowledge and made a profitable buy of silver scrap.

We are not done with the coronavirus yet. And make no mistake about it. Frightening as it is to say, the coronavirus is not yet done with us either.

But there are hopeful signs, despite the numbers that show that the virus is bouncing back again now that the colder weather has returned to many parts of our country. One hopeful sign is that every day brings us closer to a time when an effective vaccine will be widely available. (How we all long for that day.) Another hopeful sign is that more people have accepted social distancing, wearing masks, and practicing other safe protocols at work and at home.

There are many downsides to living through the Coronavirus pandemic. Many of us are frightened, getting cabin fever, watching the same kind of programs over and over again on cable, and making sure our children complete their schoolwork.

That can all be emotionally difficult, no questions about it. But at the same time, many of us are discovering that there are good things about sheltering at home. One of the really great things is that we have the opportunity to explore all kinds of new things . . . nearly anything we want.

If you bought an old house, you should search it carefully for bits of gold, silver and even platinum that could be hidden from sight. And if you are about to sell an old house – maybe one that was owned by a family member – you will obviously want to search it carefully to be sure you will not be leaving any precious metal items behind.

Don’t let valuable precious metals slip through your fingers

A recent trip to our town recycling yard (once called the “town dump”) convinced us that a lot of people are tossing an awful lot of stuff during the time they are staying at home because of Covid-19. They’re cleaning out their basements, attics, garages, and storage rooms. That’s probably a good thing to do. Decluttering and cleaning out are great projects to take on right now. They help us feel like we are making progress and getting organized, in a time when we feel stuck and out of control.

We’ve been seeing an online education explosion over the last few months. From kindergarten through graduate school, students have been using their computers to learn. And we’re just learning that colleges from coast to coast will continue to teach classes online as the 2020-21 school year begins.

Everybody likes to invest in platinum. Even small quantities of it are valuable, which means you can store a lot of money’s worth of it in just a small space. It’s not that difficult to find, as we will discuss in our post today. It’s liquid, meaning that when you decide to sell what you have, you can do so fast.

And as an investment, platinum has the traditional virtues that all precious metals do. Even though trading prices can rise and fall, precious metal values have been shown to be more stable in the long term than the investments you make in stocks.

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.

If you have experience recycling and profiting from precious metals, chances are you have some familiarity with dental scrap. In years past (and less often during about the last 25 years), gold was often used to make fillings, caps, and even larger gold bars that were used to make bridges that were installed in patients’ mouths. Also in years past, it was common practice for dentists and dental labs to keep used gold items and, when they got around to it, to have those pieces of gold dental scrap recycled.

With platinum currently trading at $762, it is certainly a metal that merits your consideration as you look for ways to invest in precious metals.

To be sure, there are so many ways to invest your money today. You could buy bullion, coins, gold scrap, and more. But of all the many precious metals to invest in, platinum wire merits special consideration right now.

People who invest in precious metals like to keep moving forward. They don’t sit around. They get out to the places where they like to look for precious metals and scrap, whether that means grabbing a metal detector and heading outdoors or driving to an estate sale to see if any treasures are waiting to be discovered.

We write a lot on this blog about platinum scrap. But what is platinum scrap, and why is it your best way to invest in platinum?

In today’s post, we’ll explain. Platinum scrap falls into several categories.

“Finding Buried Treasure at a Historic House,” an article Alexis Gutter wrote for the This Old House website, lists a lot of valuable old items that members of the This Old House renovation crew found in a 300-year-old house in Bedford, Massachusetts. They found bells, buttons, part of a silver brooch, buckles, a chisel, old iron ox shoes (which are kind of like horseshoes, only bigger), and plumbing fixtures.

We all know that platinum is rare in nature. But does that mean that you can’t find it anywhere? Not at all. In fact, there are a lot of sources of platinum that people let slip through their fingers – sometimes literally so.

We don’t want you to do that. So in today’s post, let’s explore some places where you can probably find recyclable platinum scrap today. Ready? Here we go.

“Platinum Is the Hardest Metal” and Other Common Misconceptions about the Hardness of Precious Metals

Lots of people assume that platinum is the hardest precious metal. But they are wrong! Although platinum is about two times harder than gold, it is still a relatively soft metal that can be shaped fairly easily. Perhaps the misconception that platinum is very hard has arisen because people confuse tarnish-resistance with hardness. Platinum is extremely tarnish-resistant, yes. But is it also especially hard? No. The fact that it resists tarnishing explains why it can be plated onto silver (which tarnishes easily) to create jewelry that retains its bright surface sheen. But that has nothing to do with hardness.

Let’s say you have come across something that is made of white metal – a ring, a cigarette case, a laboratory crucible – and you would like to know what it is made of. It could be white gold, silver, or platinum. So, how can you tell for sure what you are looking at?

As year 2020 begins, a lot of people have been asking whether platinum, gold, silver or some other metal will turn out to be the best precious metal investment in the months ahead.

The most common answer to that question is almost always something like this . . .

“Is there a platinum refinery near me?” is a logical question to ask when you have a small platinum item that you would like to sell quickly. You have an idea that it would be fast and convenient to simply stick your platinum scrap items in your pocket – that platinum engagement ring, a platinum cigarette case you inherited, or even a used platinum laboratory crucible – and get rid of it while you are running your errands.