Do you have gold, silver or platinum items that you would like to recycle?

If you do, chances are you are thinking of taking them to a precious metal refinery near you. You might also be thinking of calling us, Specialty Metals Smelters and Refiners at 800-426-2344, to speak with our precious metal experts. We firmly believe that speaking with us is your most important first step in the process of turning your precious metals into cash.

The 2021 Annual Crime Report published by the Jewelers’ Security Alliance, a nonprofit trade organization, is a free downloadable report that we all need to read. At least, everyone who is involved with jewelry or precious metals should download and read it. It reveals, in depth, exactly where jewelry-related crimes are taking place. Also, it explains how many of those crimes are happening, and whether those crimes are becoming more or less frequent.

The question that we used for the headline of today’s post – “Should You Be Looking for Gold Refineries that Buy from the Public?” – is an interesting one to consider.

It is interesting because, in fact, you should not be looking for a gold refinery that buys your scrap, for a very simple reason . . .

Why Just One Short Phone Call Can Get You Much More Money for Your Precious Metal Scrap

We all like to save time. Plus, we live in an age when people value convenience. But when it comes to getting the most from the precious metal and precious metals scrap you want to sell, looking for too much “false convenience” can cost you a lot of money.

Our phone rang a few days ago. A woman on the other end of the line asked a question that seems to be on the minds of many people just now . . .

“I’ve been furloughed from my job and I could use some cash,” she said. “Now would be a good time for me to sell some old items of jewelry, but I can’t find any gold refineries that buy from the public near me. Even those `We Buy Gold’ roadside stores in my area have shut down during the coronavirus crisis.”

Have you ever been to a pawnshop? If you have, chances are you have been surprised to see that a pawnshop looks just like any other store. There are display cases, counters, cash registers, and other familiar fixtures. Chances are you were greeted by a polite individual who treated you respectfully, and who was happy to discuss the details of your transaction.

Who near you buys gold-filled jewelry, gold-plated jewelry, solid-gold jewelry, gold scrap and other gold items? 

Those questions might be the first to come to mind when you have gold items that you want to sell. But did you know that there are other, more important questions?

Have you ever sold an unwanted piece of gold jewelry to a jeweler or one of those “We Buy Gold” stores?

It’s a straightforward process. You walk in, the person behind the counter checks your item with a gold testing kit, and makes you a cash offer that you can either accept or reject on the spot. But in reality, the person on the other side of the counter is making a lot of calculations that he or she is almost certainly not sharing with you . . .

When we answered our phone a few weeks ago, a very nice gentleman told us that he had collected more than 1,000 used printer cartridges that he wanted to recycle. “How can I send them to you to be processed?” he asked. We had to give him the bad news that print cartridges do not contain precious metals. We explained that some of the ink they once contained might have contained tiny quantities of silver, and that some ink cartridges have circuit boards that contain extremely small quantities of gold - but that even in the best of circumstances, he didn’t have enough of any precious metal that we could profitably extract for him. We suggested that he take his cartridges to an office supply store that participates in manufacturers’ recycling programs.

The end of calendar year 2015 is coming up fast, and that means it’s time to think ahead about your IRA and other accounts that will figure when you file your taxes next April. Some people are wondering about putting gold and other precious metals into their IRA accounts. On first thought, that makes sense. Gold prices are low right now, after all, so you’re probably not going to sell gold soon. Why not roll your gold into your IRA and not even think about selling it now?