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. 

Gold is a metal that is known for its beauty. So why is it used in so many medical devices that are used where no one can see it – inside the human body?

Many precious metal investors believe that they will make a lot of money if they look for “one big win” in their investing. They will find one batch of gold scrap, platinum scrap or even silver scrap, make a lot of money from it, and then they will be set for life.

Of course, that does happen. (We could tell you stories about times when it has.) But looking for one big high-paying batch of metal is not the most effective way to spend years investing and ending up with a large sum of money from investments.

A caller to our office asks, “What are the most profitable items to scrap?”

That is a very intelligent question because when you stop to analyze it, you see that it contains several other questions that are also very smart to ask:

If you are an administrator at a hospital, chances are good that you have an unusual opportunity . . .

You can turn unused supplies and equipment into a significant source of income

Are you taking advantage of the opportunity to recycle all the unused precious metals that can be found in your facilities? If not, let’s find out how.

Have you ever failed to realize that an old ring, an old lab vessel, or a bit of white metal scrap was made of platinum? If you have, you are not alone. Because platinum is a white metal, it is easy to mistake it for silver or even something as low-end as polished pewter, stainless steel or even aluminum. Here are three facts that can help you recognize platinum more quickly and reliably.

Catalytic converters are probably the biggest source of recyclable platinum today, because so many of them have been manufactured – and so many are piling up in scrapyards and other places where cars are repaired or scrapped. But even though cat convertors might be the biggest source of platinum, are they the best source for speculators who like to collect platinum scrap and send it to us to be refined? Not necessarily. 

Because platinum wasn’t used widely in jewelry or industry until about 100 years ago, it seems like a “new” precious metal. That’s not really true.  In about 700 B.C., Egyptian artisans were using it to make ornamental objects, like the famous and mysterious Casket of Thebes.  And at the same time, pre-Columbian artisans in South America were fashioning it into small trinkets. Those are only a few fascinating facts about this beautiful, tarnish-resistant, and durable precious metal. Here’s a quick timeline of its fascinating history.