“As Good as Gold” – Mining the world’s gold

Gold or “yellow metal” is the oldest precious metal to be mined. Gold mining dates back to 4200 B.C and rose in the early 19th century with the “California gold rush”. Regardless of how the gold market is doing companies are always mining for gold.

Today, there are 10 top producing gold mines in the world, and they are located in:

  1. Boddington, Austrailia
  2. Lihir, Papaua New Guinea
  3. Penasquinto, Mexico
  4. Carlin, USA
  5. Yanacocha, Peru
  6. Pueblo Viejo, Dominican Republic
  7. Cortez, USA
  8. Goldstrike, USA
  9. Grasberg, Indonesia
  10. Muruntau, Uzbekistan

 

These sites have been the highest producing for many years. However recently gold miners are taking a different approach. According to a recent Reuter’s article, “the world’s biggest gold miners are taking a cautious approach in their hunt for bullion. They are spending more money to explore around existing mines rather than new territory in a strategy that may have short-term gains. But risks future production growth.”

Why are they doing this? Simply, it’s more cost efficient and improves the odds of discovering gold deposits.

Today, 60%-70% of the world’s gold production comes from surface mines, while the remainder is from underground mines. Finding affordable and reliable deposits had become imperative in the last couple years as miners started to slash spending amid a slight slump in gold prices.

If this approach works, there will be gold at this end of this new ‘rainbow’.

About Core Scientific

Core Scientific, an industry leader in precious metals refining. Request your FREE shipping kit today by clicking here.

Sources

http://www.reuters.com/article/us-mining-gold-idUSKCN11O0F8

http://www.mining.com/web/here-are-the-worlds-top-10-gold-producing-mines/

http://investingnews.com/daily/resource-investing/precious-metals-investing/gold-investing/barrick-newmont-anglogold-goldcorp-kinross-newcrest/

http://www.gold.org/gold-mining

http://www.mining-technology.com/features/feature-top-ten-biggest-gold-mines-south-africa/

https://en.wikipedia.org/wiki/Gold_mining

Diamond sales rising ahead of holiday season

DeBeers, the world’s largest diamond producer, announced a recent boom in sales of gems. This is as retailers stockpile before the holiday season.

diamond sales
Diamonds

According to Bloomberg News, They sold an impressing $630 million of rough diamonds in its seventh offering this year, up from $528 million in the previous sale, the company said in a statement this week.

“We saw healthy demand for our rough diamonds,” De Beers chief executive officer Bruce Cleaver said in the statement to Mineweb.com. “Manufacturers brought forward some of their demand in order to cut and polish rough diamonds in time for the important retail selling season.”

The holiday period for the diamond industry is from Thanksgiving in November. It also continues through the Lunar New Year in Asia in January or early February, right before Valentine’s Day. Bloomberg News states, Rough-diamond prices have rebounded 4.7% this year and it seems like De Beers and rival Alrosa PJSC will cut off supply to try to support the market.

So this marks good news for the upcoming holiday season.

About Core Scientific

Core Scientific, an industry leader in precious metals refining. Request your FREE shipping kit today by clicking here.

Sources

http://www.bloomberg.com/news/articles/2016-09-06/de-beers-boosts-diamond-sales-as-customers-stock-up-for-holidays

http://www.mineweb.com/news/diamonds-and-gems/de-beers-boosts-diamond-sales-as-customers-stock-up-for-holidays/

http://www.jckonline.com/blogs/cutting-remarks/2016/08/25/what-jewelry-industry-can-expect-holiday

Olympic Gold Medals

How much is the Olympic Gold Medals worth?

The 2016 Rio Olympic games was host to the most exciting gold medal wins by the United States. We saw Michael Phelps win a record-breaking 5 gold medals and the United States’ “Final 5” women’s gymnastics team dominating with a 1st place win – to name a few.

gold metal

Although the true value of a gold metal is in the holder it doesn’t stop us from wondering – How much is that gold metal really worth?

There are many ways to look at this. The first is to look at the collector’s value.

Time.com values gold metals between $10,000 to over $1 Million depending on the seller. Boston-based RR Auction told USA Today that an average price for a “common” gold medal—from a lesser-known athlete—yields about $10,000. However according to Time.com article, How Much Is an Olympic Gold Medal Really Worth? Here Are 4 Possible Answers, rarer older metals can sell for much more. This includes a January 2016 sale that included four gold medals, with prices from $47,746.83 to $10,114.83 for gold metals.

Next you can evaluate the value of the gold itself. It’s actually valued at around $560, based on the price of gold at $43.76 per gram. This wasn’t the case for the 2012 London games that came in at a record price of $708 due to the rise in price of gold at the time.

Why isn’t it more?

gold metal wash

Well, the gold metals are plated with only 6 grams of gold. 1912 was the last Olympic games were all of the gold metals were made of pure gold – valued at around $22,000. Nowadays each of the 812 gold metal produced by the Mint of Brazil are gold plated with 99.9% purity.

Although the cost of a gold metal may not be what we thought, it’s still a priceless piece that its winners will cherish for a lifetime.

About Core Scientific

Core Scientific, an industry leader in precious metals refining. Request your FREE shipping kit today by clicking here.

Sources

http://www.forbes.com/sites/anthonydemarco/2016/08/05/what-is-the-true-value-of-the-rio-olympics-gold-medal/#62684eee56f3

http://time.com/money/4418118/olympic-medal-worth-value/

The Differences in Dental Crowns

If you’re like me, the thought of getting a dental crown is scary. After being reassured, by my dentist, I know the thought of a dental crown is less about the pain and more about the appearance.

This common procedure restores your damaged tooth to its original look and shape. Today, there are three common materials used. They are – gold, porcelain fused to metal, and the newer ceramic or all porcelain. The metal that is used is determined based on the location of the damaged tooth.

Gold Crowns:

Gold is considered to be the treatment of choice for back teeth. Why? Usually a gold crown is used where cosmetics are not considered important. Gold crowns last the longest and wear the best. They are made of cast gold. This is a technique that’s been used for hundreds of years. However as appearance has become a growing concern the use of gold crowns has declined.

Porcelain Fused Crowns (PFM):

PFM crowns are made of “precious or noble” metals such as gold or platinum. These precious metals are strong and are bonded/cemented to the tooth. PFM crowns have an “esthetic” longevity.  However they can create undue wear on opposing teeth. Their “esthetic” advantage makes them a preferred option for front teeth.

All Porcelain Crowns:

All porcelain dental crowns are ceramics. The advantage of “all porcelain” is it’s incredible life-like appearance. However the lack of strength, brittleness and potential to damage opposing teeth is a drawback. Since they are a variation of glass, dental crown failure can be “catastrophic”. It makes repair almost impossible.

Next time you are instructed to get a dental crown, discuss these various options with your dentist.

About Core Scientific

Core Scientific, an industry leader in precious metals refining. Request your FREE shipping kit today by clicking here.

Sources

http://www.deardoctor.com/inside-the-magazine/issue-7/gold-vs-porcelain-crowns/

http://www.michaelsinkindds.com/blog/dental-crowns-9-reasons-you-may-need-one-2/

 

 

 

 

Dentists on the Front Lines of the Urban Gold Rush

Precious metals such as gold, silver, palladium and platinum, were regularly used in dental crowns. However this practice has decreased due to advancements in technology.

dental scrap, dental fillings

Today Dentists are noticing a rise in dental crown extractions as they reach their life expectancy. This provides dentists with a unique opportunity to recycle, and sell these precious metals. Currently only a small percentage of dentists are taking advantage of this. Dental crowns contain three to four precious alloys in varying amounts. These dental crowns can be recycled and sold to a refinery, and then receive a monetary return based on weight and current market value.

There’s also a concern for the environmental impact. These dental crowns used to be thrown away, ending up in landfills, and lost forever. DentistryIQ.com puts it simply, “It is far more costly on our wallets and environment to mine an ounce of gold than it is to recycle it.”

Recycling your dental crown scrap is as easy as collecting and shipping it.

About Core Scientific

Core Scientific, an industry leader in precious metals refining. Request your FREE shipping kit today by clicking here.

Sources

http://www.dentistryiq.com/articles/2013/12/recycling-dental-office-precious-scrap-metal.html

Gold: The crystal ball for the health of the U.S. economy

According to investors, the U.S. economic health is often reflected in the price of gold. When gold prices are high it signals the economy is not healthy. Why?

Well, investors purchase gold as protection from either an economic crisis or inflation. When investors think the economy is doing well, they will buy less gold, driving the price of gold lower. Savvy investors monitor the price of gold very closely.

The first week of September has seen gold hit a new two-month low. Does this signal the economy is doing well? According to CNBC, portfolio managers see a rebound coming soon. Chad Morganlander, portfolio manager at Stifel Nicolaus, states, “We believe that it will continue to go higher and for the short run.” Furthermore he predicts gold to have an annual return between 4 to 6 percent over the next five years.

What could be attributed to the rise in gold prices? It seems the weaker-than-expected U.S. employment report on Friday is driving gold prices. The dollar-denominated gold commodities have obviously found support from a slightly weaker dollar as investors lowered their expectations about the timing of the next rate increase, stated by Resourceinvestor.com.

Yahoo Finance interviewed Fed Chair Janet Yellen who said on Friday the case for higher rates was strengthening, while Vice Chair Stanley Fischer later suggested a hike could come as soon as September. Fischer added in an interview on Tuesday that the U.S. job market is nearly at full strength.

Now’s the time to watch gold commodities; timing is important to get the best return on your gold metal scrap.

About Core Scientific

Core Scientific, an industry leader in precious metals refining. Request your FREE shipping kit today by clicking here.

Sources

http://finance.yahoo.com/news/gold-near-two-month-lows-023804891.html

http://www.cnbc.com/2016/08/31/gold-hits-two-month-low-but-portfolio-manager-sees-a-rebound-ahead.html
http://www.forbes.com/sites/kitconews/2016/09/06/weak-u-s-data-pushes-gold-silver-prices-sharply-higher/#2a279d4b5c5e
http://www.resourceinvestor.com/2016/09/06/precious-metals-shining-brightly
https://www.thebalance.com/gold-prices-and-the-u-s-economy-3305656

Weight: Why is it important?

Do you weigh your dental scrap? If you answered no this article is for you.

Weighing your dental scrap is important because it protects you. Why, because it’s the only way you can verify where you’re getting the best return. For the same reason why you wouldn’t go into a bank with an envelope of cash, and have the bank count it, without counting it first, yourself. Knowing what you have is key to making sure you’re working with the best refiner.

We have worked with thousands of companies that were ‘duped’. They received far less on their dental scrap, and sadly didn’t even know it. For example, one customer sent to ‘Company A’ 10 oz. and received $1000, and sent approximately the same 10 oz. to us and received $2500. That’s not a small discrepancy; it’s a LARGE one.

They heard, “well it’s because they never run the same”. That would be true if it varied by a couple hundred dollars but not that large of a discrepancy.

So, how can you protect yourself?

  • Weigh out your dental scrap before you send it to your refiner
  • Make sure your refiner sends you a notification on the incoming weight of your dental scrap
  • Ensure the paperwork clearly states the weight of what was processed
  • Find out if processing is done on-site, so you aren’t working with a middle man

We’ve heard many refiners do not provide paperwork on the weight of what was used and processed. By weighing it yourself, you know exactly what was sent and received. Also if you choose to send equal amounts to say ‘Company A’ and us, you’ll find out which refiner is paying you the best return.

It’s all about protecting yourself, and ensuring you work with a trusting, reliable refiner.

Try us out, by clicking here for a complimentary information kit.

Top Reasons Why Dental Acid Testing is Ineffective

DENTAL ACID TESTING IS INEFFECTIVE.

Acid testing is a common way to distinguish how much gold is present in a simple jewelry alloy.  This method is inappropriate for dental alloys because the composition is more complicated.   For example, Platinum and Chrome will react to an acid test in the same way.  They both will have a neutral reaction.  Platinum is a valuable precious metal, and chromium cobalt is an inexpensive base metal.

Any acid test on an alloy containing Platinum Group Metals will be thrown off by this typical reaction.  Platinum is found in older crowns, but Palladium also responds in this way.  Other base metals will convolute the acid test and there’s simply no telling how without an assay (analysis) .

The alloys need to be refined so that an assay can be conducted.  This is the only sure way to know how much of each precious metal you’ve got.

Is Dental Gold 16K?

WHAT IS THE TRUE VALUE OF DENTAL GOLD?

Gold has been used in dentistry for thousands of years.  Higher grade gold is soft and would not survive a career of chewing, so dental gold is typically said to be around 10 – 16 karat.  This estimate isn’t entirely true because dental restorations use not only gold, but alloys.  An alloy is a mixture of two or more metals.  The original dental alloy is gold-silver-copper.  Since then, platinum group metals (PGM) have been used for their superior strength and their resistance to tarnishing.

In fact, some such ‘gold tooth’ alloys are silver-copper-PGM, using little or no gold!  These alloys are made in any one of thousands of dental labs in different combinations.  Refining a dental replacement means separating metal from non-metal, and it also means separating the different metals from the alloy.  A refiner who accepts dental crowns should be willing to specify how much of each precious metal is recovered.  It simply isn’t all 16 Karat gold.

Your Porcelain Fused to Metal May be Very Valuable

PORCELAIN FUSED TO METAL

Do you have collections of porcelain fused to metal?  They may be very valuable.

Although Porcelain has no metal in it, it is being used to veneer an alloy that contains gold, silver, palladium or platinum.

And since there are as many dental labs out there, as there are ways to lose a tooth, there are many metal combinations being manufactured.  A refiner can’t tell you, for sure, what precious metals are in a porcelain-fused alloy without refining them.

A refiner can melt down and remove the non-metal material. From that process comes an ingot (a solid bar) of metals. After this we use a chemical processes to recover each precious metal, one by one.  It’s fun.

Keep your porcelain-fused materials, in a collection separate from your PRECIOUS METAL EXTRACTIONS?  Some of what you send to your refiner will be base metals. And some of it will be gold, silver, palladium, and sometime platinum.