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. 

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. 

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. 

The platinum group metals (PGMs) consist of six chemically and physically similar elements: platinum (Pt), palladium (Pd), rhodium (Rh), ruthenium (Ru), iridium (Ir), and osmium (Os). These metals are often alloyed with each other and with other elements to create materials with specific properties for various industrial and other applications. 

Platinum engagement rings are not rare. Maybe you called off an engagement and your former fiancé gallantly said, “I gave the ring to you . . . it’s yours, so keep it.” Or maybe you find some platinum engagement ring blanks (rings that have not yet had stones mounted in them) in a jewelry manufacturing company that went out of business. 

We recently asked Dan Fried, Founder and CEO of Specialty Metals Smelters and Refiners, to name a few places where platinum can be found. Some of his advice was surprising and if you follow it, we predict you will find platinum that you can recycle for money. 

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. 

The platinum family metals, also known as the platinum group metals (PGMs), are a group of six elements that share similar chemical properties. These metals are highly valuable and have various industrial applications, making them attractive for investment purposes. 

The six platinum family metals are:

Is platinum toxic?

In its pure form, platinum is inert and does not react with most chemicals or substances, including acids and bases. This property makes it highly resistant to corrosion and tarnish. Consequently, platinum is often used in medical and dental implants, such as pacemakers, stents, and dental crowns, due to its biocompatibility and resistance to corrosion.

What are platinum group metals, where are they found and what are they used for?

Platinum group metals (PGMs) are a group of six metallic elements that belong to the platinum group on the periodic table. 

Let’s say you have a quantity of platinum scrap. It could be a few barrels full of old thermocouple wire, a batch of platinum wire you acquired from a jewelry factory that was going out of business, or even some old turbine blades from jet engines. 

A number of factors make certain kinds of precious metal scrap more desirable investments than others. 

These factors include the density and distribution of precious metal within the scrap. If one ounce of gold is distributed through two pounds of scrap, for example, that is a desirably, high density form of scrap. If that same single ounce of gold is distributed through two tons of dirt or sand, that makes for a less desirable investment. (It is easier to ship and process two pounds of material than it is to ship and process two tons.)

Read and Learn from Our Most Popular Specialty Metals Smelters and Refiners Blog Posts Published in 2022

As 2023 kicks off, we would like to share a list of the most popular, most-read posts that we have published in the last year. 

Thank you, readers, for making our blog one of the top-performing, most often-read advisories in the precious metal industry. 

. . . But Here’s Why You Should Carry One Anyway

Gold, platinum, and silver are the three precious metals that we write about most often on this blog. And as you know, a magnet will not be attracted to them. Why? Because they do not contain iron, which attracts a magnet. That’s another way of saying, gold, platinum, and silver are non-ferrous metals. (“Ferrous” means that they contain iron.)

When someone mentions devices that clean exhaust gas, chances are you think, “I know what they are . . . they’re catalytic converters that are installed on cars.”

But there are other kinds of exhaust gas purifiers that can be recycled profitably – varieties that you might not know about. They too can contain platinum, rhodium, and even palladium. We’ll give you a quick course on what these other kinds of exhaust gas purifiers are and how you can make money reclaiming them by having us recycle them for you.

When an armored delivery truck was robbed near Los Angeles on July 11, 2022, thieves got away with jewelry that was estimated to be worth more than $10 million. The truck was on its way to an event in Pasadena and somehow, thieves got the jump on the driver.

According to news reports, the jewelry was owned by a number of businesses and individuals. Brinks, the operator of the armored car that was robbed, has promised to repay all the owners. And given the excellent reputation that Brinks enjoys, we are sure the company will.

Some people dismiss metal detectors as toys.

They shouldn’t! Every few months someone discovers something truly incredible when using a metal detector. We can’t think of another inexpensive device that has the potential to put so much money in your pocket.

“The EPA estimates that, in 2009, US consumers and businesses discarded televisions, computers, cell phones and hard copy peripherals (including printers, scanners, faxes) totaling 2.37 million tons. Approximately 25 percent of these electronics were collected for recycling, with the remainder disposed of primarily in landfills, where the precious metals cannot be recovered.”

- Source: “Cleaning Up Electronic Waste,” The United States Environmental Protection Agency.

We hope you made a lot of money in 2020 by having us test and recycle your silver, gold and even platinum scrap. But as you have noticed, a new year is dawning, so we would like to remind you that there is money to be made – sometimes a great deal of money – by investing in these additional forms of precious metal scrap.

If you have precious metal items that you would like to refine for profit, “Where is there a precious metal refinery near me?” is a logical question to ask. The problem is, it might not be the right question to ask. Here are some of the reasons.