What Is Platinum Scrap, and Why Is It Your Best Way to Invest in Platinum?
We write a lot on this blog about platinum scrap. But what is platinum scrap, and why is it your best way to invest in platinum?
In today’s post, we’ll explain. Platinum scrap falls into several categories.
Bits and Pieces of Pure Platinum
They include:
Pieces of platinum that are leftover after manufacturing processes, like little “squiggles” of pure platinum that are left when platinum pieces are machined on lathes, drill presses, grinders, polishers, and milling machines.
Pure platinum probes, catheter tips, wires and other pieces that were used in medical testing and procedures.
Small pure platinum findings, chains, and other pieces that are used to manufacture jewelry.
Pure platinum crucibles, tongs, stands and other items of laboratory equipment.
Platinum-Plated Items
They include:
Platinum-plated silver rings, beads, watches, and other pieces of jewelry.
Platinum Alloys
They include:
Jewelry made of white gold, which can be made of an alloy of gold that has been alloyed with platinum.
Industrial components that contain alloys made of platinum and iridium, such as small nozzles that are used to manufacture glass fibers.
Engine parts, turbine blades and other components that are used in aerospace engines.
Items that Intermix Pure Platinum and Other Metals
They include:
Thermocouple wires that contain thin strands of pure platinum; they are used in aerospace applications, in air conditioning and heating devices, and in manufacturing.
Sputtering targets, which are cookie-like disks that contain layers of platinum and other metals; they are used in plasma plating operations.
Automotive and industrial catalytic converters that contain pure platinum pellets, or platinum alloy pellets.
Why Is Platinum Scrap the Best Way to Invest in Platinum?
There’s a simple answer to that question.
When you invest in platinum scrap, you are buying quantities of platinum for prices that are well below current trading prices. You can then send them to a precious metal refinery like Specialty Metals Smelters and Refiners, where we will test your scrap, report on what it contains, recycle it for you (if that is what you want) and send you prompt payment for the platinum it contains . . . at the current trading price for the metal.
A few examples of how that works:
An investor paid $50.00 for a pile of floor sweepings from a jewelry manufacturing company that had gone out of business. Those floor sweepings turned out to contain more than $400 worth of platinum, and more than $100 worth of gold too. That’s a tenfold return on his investment.
Another investor paid $10.00 for a tangled mess of thermocouple wires that had been removed from a factory where industrial ceramics were manufactured. They turned out to contain platinum that was worth more than $140.00. Another nice return on investment!
Why Is Platinum Scrap a Better Investment than Bullion or Coins?
You could buy platinum bullion bars or coins and wait for them to increase in value. In many cases they will, over time. But investing in platinum scrap is a better idea, because that strategy allows you to buy platinum at below-market prices and then sell it for an immediate profit.
Want to know more? Call our precious metals consultants at 800-426-2344.
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