All kinds of statistics get thrown around in the world of recycling precious metals. Here are some we have heard . . .

1. “Cellphones contain about two cents’ worth of gold . . . “

2. “An old cathode ray computer monitor contains a nickel’s worth of gold . . .”

3. “A ton of electronics scrap should contain about 12 ounces of gold . . .”

The question that we used for the headline of today’s post – “Should You Be Looking for Gold Refineries that Buy from the Public?” – is an interesting one to consider.

It is interesting because, in fact, you should not be looking for a gold refinery that buys your scrap, for a very simple reason . . .

Did you have a successful year recycling precious metals in the calendar year 2020?

If you didn’t, don’t blame yourself. The year 2020 was a bust in almost every way. People didn’t have discretionary income to invest in gold, silver, and other scrap, they were stuck at home, and they put their plans on hold. We only hope that you and the people you love have survived this year beautifully, and that you are in great health to start the new year.

What is rhodium? Let’s start today’s post with the basics. It is a white-toned precious metal (atomic symbol Rh) that is also an element. It is one of the platinum group metals.

And Rhodium is rare, obtained in very small quantities as a byproduct of platinum and nickel mining, principally in Canada and Russia. Because it is so rare in nature and so difficult to obtain, it is in great demand from sources that include jewelry and catalysts.

Steel is an inexpensive metal. As you know, it isn’t classified as a precious metal.

So why are there antique items out there that contain both steel and silver? The answer to that question is this . . .

Our precious metal recycling experts hate to disappoint any customers or callers to our toll-free number. We really do, but sometimes we have to tell those potential customers that the big, impressive-looking gold items they are calling about aren’t worth recycling.

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.

Goldfinger and Beyond: These Movies Will Get You Excited about Investing in Gold

Sean Connery, who most people agree was the greatest of all the actors who played James Bond on screen, died this week. His way of introducing himself with only three words – “Bond. James Bond” – has become one of the most often-quoted lines in movie history.

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.

Years ago, a clothing store in New York used to run commercials that said, “An educated consumer is our best customer.”

Did that store really believe in that philosophy? We don’t know for certain. But we do know that at Specialty Metals Smelters and Refiners, we admire customers who have taken the time to educate themselves about the processes involved in refining precious metals. And we have also observed that when precious metal investors know about the techniques involved in refining precious metals, they find it easier to make smart decisions that can increase the money they get once the refining processes are complete.

An article in The New York Times on September 28th (“There’s Gold in Them Thar Braes”) reports that a new gold rush is currently taking place in Scotland. That’s right, Scotland. Stephen Castle, who wrote the article, interviewed several prospectors who are currently panning for gold in Scotland. One of the men he interviewed reported that he is actually not hoping to strike it rich. He has a more modest plan for what he would like to accomplish by standing in a stream for hours panning for gold.

You might think you know what a precious metal refinery can do for you. It can extract a precious metal from different kinds of scrap, correct?

By and large, that is true. But it is not as simple as that. Let’s explore.

At Specialty Metals Smelters and Refiners, we know that precious metals are the smartest investments you can make. Over the years, we have seen so many people profit handsomely from investing in platinum scrap, gold scrap, silver scrap, and even cadmium scrap.

Scrapped electronic devices of all kinds contain gold, silver, and other non-precious recyclable metals like copper and aluminum. And there is no doubt about it, you can make money by starting a business that collects those scrapped metals and sells them at a profit.

If the idea of having an electronics recycling business of your own appeals to you – and it should – here are the basics of how your new business will function.

When was the last time you lifted the hood of a car that was made in the 1960s? Let’s say, a 1965 Ford Mustang? If it’s been a while, you might have forgotten that on cars that old, electrical components were pretty minimal. There were a battery, distributor cap, spark plugs, and wires running to headlights and other electrical devices. Not too much electrical activity going on.

It’s been hard or impossible to travel during the coronavirus pandemic. How frustrated have you been?

Chances are you have been eager to travel again. But frustrating as it has been, we all need to remember that even though we have not been able to travel much in the last four or five months, we have still been able to continue buying, refining and selling gold scrap, silver scrap, and platinum scrap too.

Would you believe that Bob Dylan wrote the song, “The Times They Are A-Changin’” way back in 1964? Ever since then, the times have been changing year by year, and there is no doubt about that.

But today, 56 years later, Dylan’s song seems to have become completely true. Suddenly, the world has changed in ways that we would never have predicted only five or six years ago.

What makes for a good investment? As we have noted on this blog before, a good investment is one that offers a significant return on investment. If you can invest in something – a stock, a piece of gold, a painting, anything – and then sell it for three or four times what you paid for it or more, then you have made a good investment.

Yet other considerations make some investments better than others. And today, we would like to offer one of them for your consideration.

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 . . .

If you’ve watched “Raiders of the Lost Arc” recently, you know that in the movies, archaeologists seem to live dangerous and exciting lives. They lower themselves on ropes down into vast underground tombs. They pry up huge stones and squeeze into ancient burial chambers that are full of treasures.