Precious Metal Refinery Quiz
How Much Do You Know about Precious Metal Refining?
Are you an expert about precious metals . . . and about other metals too? Do you know what a precious metal refinery does with your gold scrap, silver scrap, platinum scrap and other materials after you send them in to be processed?
We are sure you do. But just to be safe . . . we would like to ask you some very basic questions about what we do, and what other metal refineries do too.
Ready to try? Answer these questions.
The basic process precious metals refineries use is to heat metals to a high temperature to separate them from surrounding materials. o True o False
All precious metals refineries send metals to a central government agency for processing, so it doesn’t really matter which refinery you work with. o True o False
The chances of finding undervalued items has just about disappeared now that people can research what they are selling online. o True o False
A really good precious metals refinery does all of its work in-house – whether you send them gold scrap, chemicals that contain silver, or anything else, they can do it all. o True o False
Timing doesn’t matter. You can send your precious metals to a refinery this year, next year, or any time else and you will net about the same amount of money. o True o False
All precious metals refineries have to adhere to the same set of government-mandated standards and practices of honesty. o True o False
I should expect to pay a precious metals refinery to test my scrap and tell me what it contains. o True o False
Catalytic converters are one of the best and most profitable sources of platinum and other scrap available today. o True o False
I can take all kinds of metal scrap to any metal scrap yard and they will separate everything, and pay be accordingly. o True o False
I can learn everything I need to about precious metals by hunting around online. o True o False
eBay and other online selling services offer the best way to determine the value of the jewelry and other precious metal items that I own. o True o False
How Did You Do on the Precious Metal Refinery Quiz?
We have a surprise for you, which is that all the statements above are false! That’s right, every single one is not true. Let’s consider one statement at a time . . .
False! Heating scrap to a high temperature is just one of many processes that can separate gold, silver platinum and other valuable metals from surrounding materials. Depending on the scrap and what it contains, our experts at Specialty Metals Smelters and Refiners might use chemicals and other processes too. Give us a call at 800-426-2344 and we will explain everything to you.
False! We don’t know where this idea got started. Each precious metals refinery is able to work independently, using its own processes. (Some do a very good job, some don’t. But that is a topic to cover in a separate article.)
False! Our customers frequently find undervalued items and scrap that contain gold, silver, platinum, and other valuable metals. They find these items in online sales, at antique stores, in open fields, and in many other places. That explains why there is money to be made in collecting and recycling precious metals.
False! It might surprise you to know that many precious metals refineries – including ours – can outsource certain processes to other companies. Why? Simple! There are many different refining processes, many of them requiring specialized equipment. If we don’t have the equipment we need to provide the services you need with the utmost efficiency and profitability, we might outsource a process to another company that does.
False! Because trading prices for precious metals rise and fall, when you recycle and what you recycle can have a tremendous impact on how much money you can recoup from the scrap and other items you sell or recycle.
False! If a precious metals refinery breaks the law, then it might have to tangle with law enforcement and/or the government. But unless that happens, precious metals refineries could easily engage in dishonest or fraudulent practices. To be safe, work only with a refinery that is a member of The Jewelers Board of Trade and which is monitored by Dun & Bradstreet and accredited by the Better Business Bureau – just as we are.
False! A precious metals refinery should not charge you a fee for testing your precious metals and your precious metals scrap and telling you their value.
False! Not too many years ago, cat converters offered one of the better sources of recyclable precious metals. Today, other sources offer a better return. Plus, they are easier to store, cheaper to ship, and offer a bigger cash payout.
False! There are several kinds of companies that will pay you for metals. There are precious metals refineries and buying services, yes. But there are also metal scrap yards that specialize in non-precious metals. So if you have precious metals or precious metal scrap, call us instead, at 800-426-2344. You need a specialized company with specialized expertise to get all the money you should from your precious metal items and scrap.
False! Yes, there are a number of blogs and websites that offer a lot of information about precious metals. That is good! But if you have questions about the specific items you want to recycle, you need focused, specialized information. To get it, you need to speak with qualified experts like our precious metals consultants.
False! Yes, you can find gold cufflinks, silver bullets, and all kinds of other items for sale on eBay. But no one is watching to be sure that the sellers you see there are correctly pricing the things they want to sell. One seller might be jacking up the price or misrepresenting what he is selling. Another seller might underprice what he is selling (though that tends to be rare). To know what your items are worth, call Specialty Metals Smelters and Refiners at 800-426-2344 and say, “I want to know what this item is worth!”
In closing . . .
So, how did you do on this quiz! If it raised any questions in your mind, we are here to help you learn more about precious metals. Give us a call at 800-426-2344.
We can assure you that the information we will give you will be 100% true . . . not false!
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