In the world of precious metals, accuracy is paramount. Whether you're a seasoned investor or a newcomer to the industry, the quest for precise readings on metal composition can be fraught with challenges. One such hurdle comes in the form of X-ray guns, which, while widely used, may not always deliver the accuracy you need.

With high palladium trading prices, now is a good time to liquidate your palladium scrap holdings. 

Demand is high. Because palladium is a secondary product that is recovered from platinum and nickel mining, miners have limited ability to increase palladium output in response to rising prices. 

“What’s the most convenient place near me to sell my scrap gold?” is a question people often ask. They are looking for a place to sell their old jewelry and all kinds of scrap gold that is . . . 

It’s been a long while since we wrote an advisory about investing in gold-plated tableware. So . . . why should we write about it again? The simple reason is that the price of gold is high now. . . and that means this is a good time to think again about investing in gold-plated knives, forks, and spoons. 

The platinum group metals - platinum, palladium, rhodium, iridium, and ruthenium look pretty much the same. They are all bright, shiny white metals that do not tarnish. And if you’re dealing with platinum group metal scrap – the stuff that is left over after different industrial processes – it all looks pretty much the same. 

Have you noticed a big change in computers over the last few years?

We’re not talking about the fact that DVD/CD drives have disappeared from most of them – even though that is true. Nor are we talking about the fact that there is no longer a place to plug in an ethernet cable. 

If you read this blog regularly – and we believe you should – you probably think you know everything about precious metals. 

Well maybe you do . . . and maybe you don’t! In our post today, we are going to delve into some of the most common misconceptions about your favorite precious metals – platinum, gold, and silver. 

Another way to identify precious metals . . . 

Do Precious Metals Have Distinctive Smells or Tastes?

We have written on this blog before about what gold, silver, platinum, and other metals look like. Gold is yellow and doesn’t tarnish, for example. Silver is white in color and does collect a layer of chalky tarnish. And platinum is white in color and doesn’t tarnish. 

We recently posted an article, “What Is Rhodium Oxide?” on this blog. If you missed it, we’d  urge you to read it now. Rhodium is a precious metal that should definitely be on your radar.

What do you get when you mix platinum and iridium, two ultra-valuable white, shiny metals? You get a very valuable alloy with high density and resistance to corrosion and oxidation, even at high temperatures. Those characteristics make the alloy particularly useful. 

Inherited items can sometimes be worth more than people expect. There are several reasons for this:

Rarity and collectability - Items that are rare, unique, or have historical significance can be valuable. People may not always be aware of the rarity or historical importance of an item they inherit.

There are times when you inherit a piece of jewelry or a watch that holds great value for you because it belonged to someone you loved. When that happens, you put it away somewhere safe and take it out and wear it on special occasions. You would never think of selling it. 

A famous American politician was recently indicted on charges of taking bribes in exchange for doing political favors. We certainly have no comment on this case or on the innocence or guilt of the accused man, but what interested us was the fact that when his home was searched by FBI agents, they reportedly found gold bars that were worth about $100,000. They reportedly also found about $480,000 in cash.

If you are looking for excitement or romance when you are investing in precious metals, few investments can equal ancient Roman or Greek coins. Some of these coins bear the images of historical figures like Julius Caesar or Nero. Others are especially beautiful – true ancient works of art. And then there is the fact that just holding one of these coins in your hand makes you feel like you are in touch with ancient history. 

We’ve written in the past about recycling platinum laboratory equipment. Back in 2014, for example, we published a post entitled, “Bright Shiny Platinum Could Be Hiding in your Dented and Dirty Old Labware.”

Let’s fast forward to 2023. In the video that accompanies today’s blog post, we interview Dan Fried, President and Founder of Specialty Metals Smelters and Refiners, about making money recycling platinum and iridium crucibles. 

Not long ago we were chatting with a with a young man who was just starting to invest in precious metals. As we were talking, we realized that he thought that an alloy was something that results when two pieces of metal are welded together. That’s incorrect. (See the definition of “alloy” below.) He also thought that the process of annealing means melting a piece of metal. That’s again incorrect. (See the definition of “annealing” below.)

With the Help of Specialty Metals, You Can Make Money Collecting Silver Contacts from the 1980s and 90s. Here’s What You Need to Know

At some point in your life, you might find yourself emptying an old house. The circumstances might be happy (you bought a house or are moving into it, and you want to be sure to conduct a thorough search for treasures that the previous owners hid away). At other times, the circumstances might not be too happy, as is the case when you are cleaning out a house that was occupied by parents or relatives who passed away.

So, where do you look? 

Items that contain the most gold by weight are those that are made from 24-karat gold or are as close to pure gold as possible. However, these items might not be very common due to the softness of pure gold. (Pure gold is 24 karats, but it's very soft and malleable, making it less suitable for jewelry that needs to withstand daily wear.)

Platinum alloys are valuable and are commonly used in various industrial applications, including electronics, jewelry, and more. And if you can find platinum and platinum alloy scrap, chances are good that you will be able to recycle it for a good payback. After all, platinum is now trading for $908.00/troy ounce. That means that even a small quantity of platinum scrap you find can often result in a big profit for you.