Smart Advice for Shipping Precious Metals
People often call us and ask for advice on how to package and ship precious metals to us for testing and recycling. When they call us, we tell them what to do, based on our years of experience. They follow our advice, nothing goes wrong, and their gold scrap, silver scrap, platinum scrap, or other precious materials arrive safely at our facility.
Easy, right? Well yes. But we have to report that problems do sometimes occur when people send things to us – or to each other, or anywhere. Why do problems occur? Usually, because people send stuff without really knowing what they are doing, so they make uninformed decisions about shipping. Or they cut corners or make assumptions like, “This package is not going to disappear or get lost, that never happens.”
Because the fact is, packages do get lost. They get damaged. Sometimes only the outer mailer arrives, empty, because the heavy metal item it contained ripped its way out, fell onto the floor of a truck, and will probably never be found.
We Are Not Trying to Scare You
No, we really aren’t! We only want to give you some good advice on sending your precious metals safely to us. Ready? Here we go with some advice you need to hear.
Don’t Dump Your Metals at Low Prices to Avoid the “Inconvenience” of Shipping Them
We have heard people say, “I thought shipping my precious metals to you would be too costly or inconvenient, so I sold them to a precious metals refinery near me for much less than they were worth.”
Don’t do that! We are here to make it convenient for you to send your precious metal scrap to us, so you can make more money by selling your investments at current trading prices.
Don’t Cut Corners on Insurance
This is a big problem. For some reason, some people will ship something that is worth several thousand dollars, yet insure it for far less value. Why? Some people assume that whatever a package is automatically insured for at the Post Office, FedEx, or UPS will be adequate.
So, what do those shipping companies insure packages for? We cannot provide full information on that in today’s blog post, much as we wish we could. Why? One example is that insurance costs to ship a package at, say FedEx, will vary according to how the package is being sent – via truck, air, etc. So your best defense is to ask AT THE COUNTER about how much coverage your package will have, and how much it will cost to add additional insurance coverage, if that coverage is available. And if you cannot get your shipment insured for an amount that approaches its replacement value, DO NOT SEND IT. Walk away and find another option. Or call us at 800-426-2344 and ask for our advice.
You can also investigate third-party shipping insurance from a company like Shipsurance.com, which will insure packages that you send via the Post Office and popular carriers.
Track Your Package Frequently While It Is in Transit
In our view, it is a godsend to be able to track packages on the websites of FedEx, UPS, the Post Office, and other carriers. We have a very good feeling when someone who sends us a package uses these tracking functions in ways like these:
They track where their packages are, and let us know
They share the package number with us so we can monitor its progress too
We keep an eye on probable delivery times and make sure we accept the package in person
Get Expert Advice on Using the Right Packing Materials
Remember that even the friendly, efficient person who accepts your package over the counter might not be an expert in shipping precious metals, which requires experience and specific skills. In general, problems can occur when:
A heavy item is placed in a boxy cardboard mailer – Even if that heavy valuable item is wrapped in bubble wrap, it can still rip its way out of the mailer box and disappear. In general, it is best to observe the practice of putting a box within another box. For example, you can box some items of silverware in one box that is packed with bubble wrap, then place that box into a larger outer box that is also packed with surrounding packing of some kind. The double layer between your valuables and the “outside world” can help assure that your items will travel safely.
Materials are packed too thinly – This happens when senders insert a few items, like small pieces of jewelry, into a thin cardboard mailer and think that will be safe. The fact is, packages are sometimes punctured, which can damage contents, even when they are surrounded with extra layers of cardboard or puncture-resistant plastic panels. Remember that bulk is the friend of safe shipping – see our advice on “box within a box” shipping just above.
Remember that Packing Large Items and Large Quantities Presents Special Challenges
How do you pack and ship the contents of a storage unit full of bulky items like bins of thermocouples? How do you send us a few tons of black sand that contains gold, after you have sent us a small sample for testing?
There is no one answer to those questions. But here is one piece of advice. Call Specialty Metals Smelters and Advisors at 800-426-2344 and ask our advice. We are here to answer your questions and make the entire process convenient and profitable for you.
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