Some advice for Halloween

Platinum ScrapRecycle Refine PlatinumRecycle Precious Metals
Written By Barry Lenson

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.

Beware the Word “Probably”

When you are selling white metal scrap, you should never accept a statement from the buyer like, “It’s probably silver” or, “It’s probably not platinum.”

The point is, you should be selling your metal items and scrap to someone who knows exactly what they are, and who can tell you. A buyer who says, “Well, it’s probably silver” could be trying to pay you a fraction of what your platinum items are worth.  Note that this is why we test items before telling our clients what they are made of, then pay them for them at current trading prices if the owner wants to sell. That is how you should expect and demand to be treated.

Don’t Fall for the “It’s Silver” Trap

The fact is, platinum looks a lot like silver. It looks a lot like white gold too.  Sometimes dishonest buyers can try to buy platinum items and platinum scrap at current silver prices. And to be honest, a lot of precious metals investors set this trap for themselves. They have platinum items or a pile of silver scrap that contains some platinum or white gold mixed in, and they tell themselves, “This is a pile of silver scrap.” Sometimes you can fool yourself!

Depending on the quantity of scrap that you are trying to sell, you can lose a lot of money this way. But there is a simple defense against the “It’s Silver” trap. Simply have your scrap tested by a highly qualified precious metals refinery like Specialty Metals Smelters and Refiners. You should know what you are selling, right?

Don’t Assume that All Platinum Scrap Is Bright, White and Shiny

It is a fairly common mistake to assume that discolored items cannot be made of platinum. The fact is that although platinum doesn’t tarnish or rust, it can become discolored when it is exposed to high temperatures or harsh chemicals for long periods of time. Discolored platinum testing crucibles that were used in laboratory settings are one common example. So are used platinum sponges that were used in labs and plating operations. Those items can look very un-platinumlike.

Don’t be fooled! Have your items tested by a highly qualified precious metals refinery and be sure you are getting paid what they are worth.

Trick or Treat? It’s Actually Up to You

It takes no more time or effort to sell your platinum scrap items to a precious metals refiner who knows what they are made of . . . and who pays you current market prices. Have questions? Call Specialty Metals Smelters and Refiners at 800-426-2344 to learn more.

Barry Lenson
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