“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.

With platinum now trading for over $900 on the London Fix, it stands to reason that you can make a lot of money recycling pure platinum scrap (like bench sweepings from jewelry factories) and pure platinum objects you have found (like platinum engagement rings and lab equipment).

There is an old saying, “All that glitters is not gold.”

A similar thing could be said about platinum, which is “Not everything that contains platinum is worth recycling.” How can that be? It is true because even though platinum is worth a lot of money, not every kind of scrap that contains it is worth recycling. Why spend $100.00 to extract $5.00 worth of platinum, for example? It wouldn’t make any sense.

that’s Right, Tossed!

With platinum trading for nearly $900 on the London Fix, why would anybody throw it away? But the fact is, people do toss platinum for several reasons, including . . .

A caller to our office asks, “What are the most profitable items to scrap?”

That is a very intelligent question because when you stop to analyze it, you see that it contains several other questions that are also very smart to ask:

In most parts of the country today, “We Buy Gold” stores have become common sights. But chances are you haven’t seen any stores that post prominent offers to buy platinum, rhodium, or even silver.

So what are you supposed to do if you have platinum scrap that you would like to sell or recycle?

People have been asking us a lot of questions about platinum over the last few months. So as a service to you, our readers, we will devote today’s post to answering some of the most common questions we have heard.

Don’t Be Tricked when You Sell Your Platinum . . . Be Treated Honestly Instead!

Trick or treat! Those words might be used on Halloween. But they are also worth keeping in mind when you sell platinum scrap. Will you be tricked when you sell it, or treated fairly? Here are some things to consider.

Platinum comes in many forms. There are nice bars of platinum bullion that sell at high prices. (After all, platinum is trading for $872.00 on the London Fix . . . why shouldn’t bullion bars be selling for a lot of money?) Platinum can also be found in catalytic converters, in some aircraft components, and in used laboratory testing equipment. 

We have often written on this blog about places where you can acquire precious metal scrap for pennies on the dollar. Today we would like to offer advice on a higher level, by telling you about some places where you can get precious metal scrap for free.

A customer called recently and asked us, “How much gold is in platinum?” And then he added, “I guess that is a pretty silly question, right?”

Jewelry makers use lots of different ways to indicate the purity of the metal that they use in their products. They stamp certain pieces of jewelry as 24K gold, 18K gold, Sterling Silver, and in lots of other ways. And just as soon as you think you have started to understand what all the different terminology means, along comes this term, and you wonder what the heck it is . . .

If you go to your local bookstore and say, “I am looking for a book that will tell me everything I need to know about investing in platinum scrap,” the salesperson will probably respond with a shrug or a blank stare.

You see, there aren’t any books that can tell you what you need to know about making money recycling platinum scrap. But that’s okay, because we have covered everything you need to know right here on the Specialty Metals Smelters and Refiners Blog.

Have you heard about the new alloy of platinum and gold that is said to be the most indestructible metal ever made . . . one that is as hard as diamonds and virtually abrasion-proof? We have heard about it too. It sounds like a hoax. After all, gold is a very soft metal. Platinum can easily be scratched, as owners of platinum engagement rings have discovered. So how can it be that combining these two not-so-durable metals could result in a super-metal that is virtually indestructible?

With platinum trading on the London Fix for $831 per ounce, it’s no wonder that precious metal investors look to platinum as a top investment today. Its trading price falls about halfway between the current Fix price of only $17.25 for an ounce of silver, and $1510.80 for an ounce of gold. Plus, traders realize that although platinum is rarer than gold and certainly a lot rarer than silver, many kinds of platinum scrap are not too difficult to find. They know that if they can buy platinum scrap at pennies on the dollar, which is often possible, they can send it to us for testing and recycling and profit handsomely on their investment.

“Why Thermocouples Could Be the Smartest Precious Metal Investments Today,” a post on this blog on July 19th, 2019, explained why investing in scrapped thermocouples is a very smart move for precious metal investors today.

In today’s post we would like to examine in more depth a question that we only touched on in that earlier post. Let’s explore it some more!

If you work in an industry that uses industrial catalysts, you probably know what they are and what precious metals yours contain.

What you might not know, however, is that the catalysts that have lived out their life in your factory could still contain significant amounts of precious metals like gold, silver and even platinum that are well worth recycling. If you are not sure how much precious metal could be reclaimed by having them recycled by a precious metals refinery like Specialty Metals Smelters and Refiners, we urge you to call our consultants today at 800-426-2344. We are here to offer advice and testing on your used catalysts. In just a few minutes on the phone with us, you could discover that you are sitting on precious metals that could be worth a lot of money.

Do you like to buy silver, gold, platinum and rhodium bullion bars and coins?

If you do, you are making a prudent investment choice for these reasons . . .

• You know exactly what you are buying, because they are precisely measured, and issued by governments and reliable companies that are generally trustworthy.

• You can gauge whether your bars and coins are fairly priced, because you can compare their weight to current trading prices. (Note, however, that in most cases bullion bars and coins are sold at prices that are slightly higher than current trading prices.)

• They are convenient investments – easy to buy. Plus, they are packaged in sealed plastic containers that protect them, and which can be easily stored in safety deposit boxes, safes and other secure locations.

• You are all but assured that the precious metals they contain are pure.

• You can enjoy volume discounts, because many dealers will reduce the price per unit if you buy 10, 20, 50 or more at one time.

Okay, those are good reasons. But do they mean that you are making the most profitable investment possible in precious metals if you buy bars and coins? We’ll return to that question in a minute. But first, let’s consider a different question.

If you are a regular reader of our blog, you have noticed that we have written many posts about thermocouples in the past. Hopefully, you’ve been gleaning information about what thermocouples are and how you can profit from the platinum, rhodium, silver and other precious metals they contain.

In the classic movie The Graduate, a man takes a recent college graduate aside and says to him, “I have one word to say to you . . . PLASTICS!”

That is a famous scene, and we have some similar advice for you. If you want to profit richly from investing in precious metals, “We have just one word to say to you . . . PLATINUM!”