Why It Will Always Pay to Recycle Gold

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Oct 16

We live in a world where the latest and most high-tech materials are always in the news. When Ferrari recently showcased a new supercar made almost entirely of carbon fiber, the world became enthralled with that material. When people learned that the surfaces of space shuttles are covered with advanced silica ceramic tiles, everyone suddenly started to think about advanced ceramics. Today Ferrari, Porsche and other car makers are offering very expensive ceramic brake rotors on their vehicles.

While modern materials have remarkable qualities, the fact remains that gold – that’s right, good old gold, an element with the symbol AU and an atomic number of 79 – still stands apart for some very remarkable properties that are unequalled by most other materials . . .

Why is the demand for recycled gold high? All the gold that’s ever been mined in the history of the world would only make up a cube about 60 feet on each side. Image courtesy of waitbutwhy.com

Gold Is Beautiful

Beauty is gold’s most obvious property, so let’s mention it first. Carbon fiber and ceramics are pretty unattractive in comparison.

Gold Resists Corrosion and Oxidation

Items of gold jewelry that were made thousands of years ago still look just like they did when they were made. Only cyanide, nitro-hydrochloric acid and a few other chemicals have any effect on gold. That’s another reason why gold remains the metal of choice for jewelry.

Gold Is Malleable and Soft

While that might seem to be a disadvantage, in gold it is a plus. Since ancient times, jewelers have fashioned ornaments of all kinds from gold because it is so easy to work with. And after a piece of jewelry has been made of gold, that softness can be another virtue. It is one reason rings made of gold are easy to resize.

Gold Is an Excellent Conductor of Electricity

Here’s another one of gold’s remarkable properties. It explains why gold is found in many places where electrical components must be joined together. Two examples? The contact tips that are used on high-end audio equipment cables and the pins that are found underneath computer CPU chips.

Gold Is Scarce

Given the fact that we can see gold in so many places, it is hard to believe that it is a rare precious metal. Estimates vary, but according to GFMS, an organization that monitors gold mining, only about 174,000 tons of gold have been mined in all of human history. If all that gold were mashed together, the result would be a cube that would be only about 60 feet on a side. (It might fit in your back yard.) Geologists believe that the earth contains vast quantities of unmined gold, but that it will never be extracted because it lies miles underground.

A Lot of the World’s Gold Is Tied Up in Investments

According to some estimates, 40% of the world’s gold is unavailable because it is being held by investors. It is not available for manufacturing. That makes gold on the free market even scarcer – and more valuable.

Demand for Recycled Gold Is High

According to an organization that monitors gold, goldfacts.org, one-third of all the gold that is sold every year comes from recycled items. That means that there is very real demand – and that very real dollars are waiting – for the gold that you recycle using the services of a highly qualified gold refinery like Specialty Metals Smelters and Refiners.

Gold Can Be Hiding in Plain Sight

For such a scarce metal, it is pretty easy to find quantities of gold – provided you are on the lookout for it at estate sales, in items you have inherited, in antique stores, in dental scrap, and even in river beds.

If You Have Gold, Call Us Today at 800-426-2344

In today’s post, we’ve outlined some of the reasons why gold is beautiful, useful, and scarce. Demand for this most beautiful of all metals is never going to go away. Why not contact us today to learn more?

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Barry Lenson

specialtymetals