Friday, March 5, 2010
This is a very good question! There are so many ads on the TV, the radio and the newspapers all asking for your scrap metal. Well, I would caution you about going to any of those places. NONE of them will pay you anywhere near what you should receive for the precious metals you are turning in for scrap. In fact, most of them will be either reselling your jewelry at a tidy profit, or they are going to sell it to either of these places that I am going to tell you about. They just don't want you to know that.
First off, if you have a wholesaler's license, and have an active account with merchants who do sell gold, silver and gold filled metal, wire and findings, then they usually have a way for their customers to send them their scrap for either a credit for future metal buys, or will give you a check, which will usually be for less than the credit you would receive if you took the credit.
If you don't have an active account with a merchant such as this, don't despair! There is still as way to make a MUCH better deal that you would by going with any of the places I told you about in the second paragraph. This place is a precious metals refinery. That is all they do!
So, of course, they would want your scrap. And, the neatest feature of all, is their website, it has a way to determine how much money your scrap is worth, once you have measured it. Now, this will only be an approximation, because you will probably be using a kitchen scale such as I do. And make sure you measure in grams, because otherwise, the ounces jewelers mean when they say ounce is a troy ounce which is actually 1.097 ounces.
You will need to have a minimum amount of scrap in order to send off to the refiner, it has to be worth their while to re-refine new metal out of scrap, but this calculator will tell you if you don't have enough, so you can go back and keep saving. But once you see how much this refiner gives you, you will NEVER consider going anywhere else again. Believe me - I won't!
Oh, I have absolutely NO ties to this refiner. I haven't used them yet, but I will. Every other jewelry who has, recommends them highly!
This refiner is: Midwest Refineries, LLC in Waterford, Michigan. And their link is:
Posted by Jaynemarie Crawford at 11:22 AM