Jewelry & Pawn Insights – Core Scientific Precious Metals Refinery https://core-scientific.com Refining Made Simple Wed, 24 Sep 2025 19:11:15 +0000 en hourly 1 https://wordpress.org/?v=6.6.4 https://core-scientific.com/wp-content/uploads/2024/04/core-scientific-new-logo-single-circle.png Jewelry & Pawn Insights – Core Scientific Precious Metals Refinery https://core-scientific.com 32 32 The Evolution of Gold Refining Technology: How Modern Equipment Has Changed the Industry https://core-scientific.com/evolution-gold-refining-technology-modern-equipment-changed-industry/ Wed, 10 Sep 2025 18:29:04 +0000 https://core-scientific.com/?p=34815 The post The Evolution of Gold Refining Technology: How Modern Equipment Has Changed the Industry appeared first on Core Scientific Precious Metals Refinery.

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The Evolution of Gold Refining Technology: How Modern Equipment Has Changed the Industry

For thousands of years, humans have been fascinated by gold. Not just for its beauty, but for its enduring value and utility. The process of gold refining dates back to ancient civilizations like Egypt, Mesopotamia, and the Indus Valley, who pioneered early methods to extract and purify gold from raw materials. Over time, gold refining has evolved from basic fire-based techniques to advanced chemical and electrochemical processes that achieve exceptional levels of purity.

In today’s world, gold refining plays a critical role in global industries such as electronics, jewelry, and finance, and in environmental sustainability. Modern refiners focus on reducing toxic byproducts, reclaiming precious metals from waste, and implementing eco-friendly technologies to ensure cleaner, safer refining practices.

This blog explores the evolution of gold refining, from ancient methods to today’s advanced, eco-friendly technologies, and how each era shaped the innovations we use today.

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3,000 BCE – 500 BCE: The Beginnings of Gold Refining

The ancient civilizations of Egypt, Mesopotamia, and the Indus Valley pioneered early gold refining techniques. They were the first to use clay pipes and furnaces in smelting and employed placer mining to extract gold from riverbanks, collecting particles found in sand. Through the use of fire and basic tools, they began separating impurities from gold, marking the birth of gold refining. These cultures were revolutionizing the process by using heat to extract gold from stone and rock, a groundbreaking advancement in early metallurgy.

Notable techniques included:

  • Cupellation: A fire-assay method where a mixture of metals is heated in a porous container, allowing base metals to oxidize and separate, leaving behind purified precious metals.
  • Cementation: A process that uses a reducing agent, like salt, and heat to isolate and concentrate gold from ore.

Drawbacks: Cupellation was labor-intensive and required precise temperature control, something difficult to maintain without modern equipment.

500 BCE – 500 CE: The Greek and Roman Advancements

The Greeks and Romans advanced gold refining by merging alchemy with early scientific principles. They introduced mercury amalgamation, mixing gold with mercury, then heating it to evaporate the mercury and leave behind gold. This technique laid the groundwork for modern chemical gold refining.

  • Mercury Amalgamation: Enabled the extraction of gold from ore but posed significant health and environmental risks.
  • Acid Refining: Early methods of dissolving base metals with acids helped evolve today’s chemical gold refining processes.

Modern Mitigation: Today, dental offices use amalgam separators to reduce mercury discharge into sewer systems, and many recycling companies specialize in mercury-safe disposal.

500 CE – 1500 CE: The Medieval and Renaissance Shift

Gold refining declined during the early medieval period but saw renewed interest during the Renaissance. The focus shifted toward assaying, the practice of testing gold purity, which remains essential in modern gold refining.

Key techniques included:

  • Touchstone Testing: Rubbing gold on a smooth, dark stone and comparing the streak to known samples to determine purity.
  • Inquartation: Adding silver to a gold alloy to dilute it, making impurities easier to dissolve in acid and resulting in purer gold.

500 CE – 1500 CE: The Medieval and Renaissance Shift

Gold refining declined during the early medieval period but saw renewed interest during the Renaissance. The focus shifted toward assaying, the practice of testing gold purity, which remains essential in modern gold refining.

Key techniques included:

  • Touchstone Testing: Rubbing gold on a smooth, dark stone and comparing the streak to known samples to determine purity.
  • Inquartation: Adding silver to a gold alloy to dilute it, making impurities easier to dissolve in acid and resulting in purer gold.

The Industrial Revolution (18th–19th Century)

The demand for standardization and industrial efficiency revolutionized gold refining. Two landmark techniques emerged:

  • Miller Process (1867): Invented by Francis Bowyer Miller, this method uses chlorine gas to react with impurities in molten gold, forming a removable slag. Ideal for refining large quantities quickly.
  • Wohlwill Process (1874): Developed by Emile Wohlwill, this electrolytic method uses an electric current to dissolve impure gold, leaving pure gold to collect on a cathode. It achieves up to 99.999% purity.

These innovations transformed industries such as jewelry, electronics, and currency production, and laid the foundation for modern gold refining practices by enabling the production of pure gold in large quantities.

20th Century – Present: The Modern Era

Modern gold refining has evolved into a high-tech industry prioritizing precision, efficiency, and environmental responsibility. Today’s methods include smelting, electrolysis, and aqua regia refining, which uses a powerful mix of nitric and hydrochloric acid to dissolve metals.

Recent advancements include:

XRF and ICP Spectrometry:

  • X-ray Fluorescence (XRF): Measures emitted X-rays when a material is exposed to high-energy X-rays, identifying its elemental makeup.
  • Inductively Coupled Plasma (ICP): Ionizes samples to detect trace elements with high accuracy.

Eco-Friendly Refining: Some refiners now recycle scrap gold and use bio-based solvents and renewable energy sources, reducing reliance on toxic chemicals and minimizing environmental impact in the gold refining industry.

20th Century – Present: The Modern Era

Modern gold refining has evolved into a high-tech industry prioritizing precision, efficiency, and environmental responsibility. Today’s methods include smelting, electrolysis, and aqua regia refining, which uses a powerful mix of nitric and hydrochloric acid to dissolve metals.

Recent advancements include:

XRF and ICP Spectrometry:

  • X-ray Fluorescence (XRF): Measures emitted X-rays when a material is exposed to high-energy X-rays, identifying its elemental makeup.
  • Inductively Coupled Plasma (ICP): Ionizes samples to detect trace elements with high accuracy.

Eco-Friendly Refining: Some refiners now recycle scrap gold and use bio-based solvents and renewable energy sources, reducing reliance on toxic chemicals and minimizing environmental impact in the gold refining industry.

Refining Gold, Refining Progress

From the fire-driven furnaces of ancient civilizations to today’s precise, environmentally responsible methods, the evolution of gold refining reflects humanity’s ongoing quest for innovation, purity, and sustainability. Each era introduced key advancements that shaped how we recover and process gold, transforming industries and setting new standards along the way.

As environmental concerns become increasingly important, modern gold refining practices continue to adapt, with technologies designed to reduce waste, recover precious materials more efficiently, and minimize harm to our planet.

To learn more about how today’s gold refineries are working to reduce their environmental footprint, check out our related article: How Gold Refineries Decrease the Carbon Footprint.

At Core Scientific, we utilize state-of-the-art gold refining technology to ensure premium recovery from scrap gold, maximizing returns for our customers. We’re committed to sustainability and transparency, placing environmental responsibility at the forefront of our refining practices. Find out how we can help you, schedule a free consultation today!

Our industry-leading returns and unparalleled customer service have earned us a 96% client retention rate. Contact us today to learn more about our services and start recycling your Precious Metal scrap with Core Scientific.
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Address:

700 Industrial Drive, Ste K

Cary IL

60013, United States

Phone: 866-660-4631

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Monday-Friday: 9:00 – 5:00

Saturday: Closed

Sunday: Closed

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]]> How to Prepare Your Jewelry Scrap for Refining to Get the Most Value https://core-scientific.com/prepare-jewelry-scrap-refining-get-value/ Wed, 14 May 2025 19:04:47 +0000 https://core-scientific.com/?p=32409 The post How to Prepare Your Jewelry Scrap for Refining to Get the Most Value appeared first on Core Scientific Precious Metals Refinery.

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How to Prepare Your Jewelry Scrap for Refining To Get The Most Value

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If you’re a jeweler, goldsmith, or any business who regularly works with precious metals, you’re sitting on more value than you might realize—literally. From broken chains to dust on your workshop floor, your jewelry scrap can add up to significant returns when prepared correctly for refining. Here’s how to make the most of every gram.

Common Scrap Items Worth Refining

Not all that glitters is gold—but a surprising amount is. Here are common items that can and should be refined:

  • Jewelry – Broken rings, chains, earrings, cufflinks, and other gold or silver pieces.
  • Watches – Gold or Silver components are suitable for refining.
  • Bench Sweeps – Tiny filings, dust, and small fragments that tend to accumulate on a jeweler’s bench.
  • Gold or Silver Coins – Old or damaged coins can be valuable refining material.

Preparation Tips:

Proper sorting and preparation not only maximize your payout but also ensure a smoother refining process.

1. Document your Karat Purity: Since refiners pay based on metal content, noting the purities of your items gives you a clearer understanding of what you’re shipping to be refined. While reputable refiners will test and verify the materials, keeping your own records promotes trust, transparency, and confidence in the results you receive.

2. Optional Stone Recovery: If you’d like the refinery to recover your stones, notify your account executive in advance and clearly label your package. This process differs from standard karat scrap refining and may involve different timelines or costs, so clear communication is important to ensure proper handling.

3. Store Separately: To ensure accurate refining and maximum return, always keep materials separated by type. Use dedicated, clearly labeled containers or plastic bags for dust, filings, and bench sweeps, and avoid mixing them with general debris or trash. Karat scrap, low-grade material, and PGM-containing (platinum/palladium) items should also be stored separately.

4. Label, Store, and Ship: Clearly label each container with the material type and karat, and store it in a secure location. Ensure your team, especially cleaning staff, understands that this material should never be discarded.

When it’s time to ship, follow proper security measures: place your material in a container within a container or box, seal all seams with a strong packing tape, and label everything accurately. Always coordinate with your refinery to ensure secure and documented transit.

Don’t Overlook Low-Grade Material

Even your dirtiest corners can be a goldmine—literally. These items might not look valuable, but they often contain fine particles of gold or silver:

  • Polishing dirt and fibers from polishing machines
  • Floor sweeps and used vacuum bags
  • Carpet, floor mats, and chair cushions near workbenches
  • Used paper towels from cleaning tools
  • HVAC and air filters in workshop spaces

Collect these items and store them in clearly labeled bags or containers. While these materials may require more processing, the yield value can surprise you over time.

Although these materials might look worthless at first glance, the truth is quite the opposite—dust, fibers, and even old, dirty carpet from a jewelry shop can contain significant amounts of gold and other precious metals. In fact, we’ve recovered thousands of dollars in value from what many would consider trash. It’s a powerful reminder that in this industry, even the smallest particles can hold hidden profits.

Choosing The Right Refinery: Core Scientific

Every part of your workspace holds potential value. The more intentional you are with what you collect and how you prepare it, the better your refining returns will be.

The next step is finding the right refining partner.

When it comes to recycling your jewelry scrap, it’s crucial to choose a trusted refinery that values sustainability and transparency. Core Scientific is a renowned name in the industry, committed to excellence in precious metal refining.

With state-of-the-art facilities and advanced refining technologies, Core Scientific offers unmatched accuracy, consistency, and competitive payouts. You’ll benefit from:

  • Full-Service Refining & Shipping
  • 24/7 Customer Portal Access
  • Flexible Payment Options
  • Shipment Tracking
  • SMS Notification Program
  • Live Material Updates
  • Detailed Assay Reporting
  • Photographic Documentation

As a leader in precious metal refining for jewelers and pawnbrokers, Core Scientific has revolutionized the industry by bringing full transparency to its customers.

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CONTACT US

Address:

700 Industrial Drive, Ste K

Cary IL

60013, United States

Phone: 877-308-2388

Working hours:

Monday-Friday: 9:00 – 5:00

Saturday: Closed

Sunday: Closed

Google Rating
4.7
Based on 150 reviews
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]]> Tips to Avoid Buying Bad Scrap Gold Jewelry: A Guide for Jewelers and Pawn Shops https://core-scientific.com/tips-avoid-buying-bad-scrap-gold-jewelry-guide-jewelers-pawn-shops/ Wed, 30 Apr 2025 14:45:33 +0000 https://core-scientific.com/?p=32252 The post Tips to Avoid Buying Bad Scrap Gold Jewelry: A Guide for Jewelers and Pawn Shops appeared first on Core Scientific Precious Metals Refinery.

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Tips to Avoid Buying Bad Scrap Gold Jewelry: A Guide for Jewelers and Pawn Shops

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When you’re buying scrap gold jewelry over the counter, every transaction is a balancing act between opportunity and risk. One good deal can make your day, but one bad piece can eat into your profits and damage your reputation. Whether you’re a jeweler, pawnbroker, or professional gold buyer, learning to assess gold accurately and consistently is essential to protecting your margins and building trust with your customers.

Let’s walk through the essential steps to avoid costly mistakes when purchasing scrap gold—and how to ensure every transaction is based on facts, not guesswork.

Why Buying Scrap Gold is Risky – But Rewarding

Scrap gold buying offers a chance to acquire precious metal at a margin below spot price, often with strong resale or refining value. But with that upside comes risk: fake, plated, or under-karated items are more common than ever, especially with the rise of sophisticated counterfeits. A single misstep can turn a profitable transaction into a loss.

The key? Build a bulletproof evaluation process that you and your staff can follow every time.

Here are 8 essential steps you should take to avoid buying bad scrap gold:

1. Start With a Visual Inspection

Before running any tests, take a close look at the piece. Search for a karat stamp such as “10K,” “14K,” or“18K.” However, don’t rely on stamps alone—fraudulent markings are widespread. Watch for:

  • Discoloration or flaking in high-wear areas
  • A different base metal showing underneath
  • Mismatched stamps on chains and clasps

If something looks off, assume nothing and proceed with further testing.

2. Run a Magnet Test

Use a strong magnet to check the item:

  • No reaction? That’s a good sign.
  • Attracted to the magnet? It’s likely alloyed with ferromagnetic metals—or it’s not gold at all.

While this test won’t confirm purity, it quickly rules out obvious fakes.

3. Perform an Acid Test

An acid test can help you identify karat levels using a test stone and acid solutions. Here’s the catch:

  • Plated items can pass this test if the plating is thick enough
  • It’s not always accurate for white gold or newer alloys

Use acid tests in conjunction with other methods, not as your only filter.

4. Use an Electric Gold Tester

For more reliable results, electronic testers can help you quickly assess karat without damaging the piece. These are especially useful for items like white gold, where visual cues are less reliable.

5. Weigh With Caution

Weight gives valuable clues, but don’t take it at face value; know the expected weight for typical items. Lightweight jewelry may be hollow, plated, or contain fillers that reduce its gold content. Compare the weight against standard benchmarks for similar items and factor in discrepancies before making an offer.

6. Invest in XRF Testing (if available)

An X-Ray Fluorescence (XRF) analyzer is a non-destructive, high-precision tool that provides lab-level accuracy in seconds, reading the exact elemental composition of a piece—without leaving a scratch. It’s especially useful for verifying under-karated pieces or alloys with inconsistent mixes. While the upfront cost is significant, XRF can pay for itself by preventing just a few bad purchases.

7. Document Every Purchase

A clear paper trail protects your business. Always:

  • Take a photo ID from the seller
  • Record karat, weight, and payout
  • Note any unique marks or characteristics

This helps protect your business from fraud and aligns with secondhand dealer compliance regulations.

8. Stay Aware of Common Scams

Beware of:

  • Items marked “14K GP” (gold plated)
  • Foreign stamps that mimic karat marks
  • Gold-filled jewelry disguised as solid
  • Chains where only the clasp is genuine

Bonus Tip: Use a Karat Calculator to Validate Your Price

Once you’ve confirmed the purity and weight, be sure you’re paying the right price. You can use our Free Karat Calculator to estimate the value of scrap gold in real-time based on current market prices. It’s a simple tool that ensures consistency, accuracy, and transparency—whether you’re buying 1 gram or 100.

When it comes to buying gold, it’s not just about what it’s worth—it’s about how confidently you can stand behind every purchase. The more informed your evaluation process, the less risk you carry on your books. A few extra minutes of due diligence can mean the difference between profit and loss.

If you’re processing scrap gold and want to maximize your returns with a transparent, fast, and accurate refining partner, reach out to Core Scientific today. Our team helps jewelers, pawn shops, and gold buyers nationwide unlock the true value of every gram. Request a container, and get started refining your jewelry scrap! 

Understanding how precious metals are refined and reused can help you make smarter purchasing decisions. Learn more about the impact of precious metal recycling. Whether you’re buying, selling, or refining, the more you know about the full lifecycle of gold, the better positioned you are to make every transaction count.

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CONTACT US

Address:

700 Industrial Drive, Ste K

Cary IL

60013, United States

Phone: 866-660-4631

Working hours:

Monday-Friday: 9:00 – 5:00

Saturday: Closed

Sunday: Closed

Google Rating
4.7
Based on 150 reviews
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]]> Precious Metal Refinery https://core-scientific.com/precious-metal-refinery/ https://core-scientific.com/precious-metal-refinery/#comments Tue, 31 May 2022 08:00:55 +0000 https://core-scientific.com/?p=25878 The post Precious Metal Refinery appeared first on Core Scientific Precious Metals Refinery.

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What is a precious metal refinery?

A precious metal refinery is a a facility where precious metals, like gold or silver, are separated from other materials, generally by recycling scrap that contains these valuable elements. This procedure is very complicated and requires the intervention of a professional precious metal refiner.

The refining process extracts all the valuable materials in their pure form. Once refined, the metals can be re-introduced on the commodities market. Many different products can be refined to obtain these precious metals. Some examples are dental scrap, jewelry, implants, and electronics.

If you want to know more about the process of precious metal recycling, keep reading.

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How does a precious metal refinery work?

The refining process is a little bit complicated as its dependent on the type of precious metal that needs to be refined. The following are the general refining steps and what you can expect when you send in your metal scrap to a refinery:

Receiving the materials: When you send your material to the refinery, the first stage of the process is weighing each lot. If you work with a responsible refiner, the metal scrap is opened in a secure area, weighed, and photographed. Then, each lot is assigned a unique identification number and then stored in a secure location until it’s time for processing. 

Stone removal: If you sent in jewelry to be refined, it might be necessary to remove the precious stones before processing the metals. This is usually done through a chemical process involving a substance called Acqua Regia. At Core Scientific, we do this in our secure in-house laboratory, using Acqua Regia and acid digestion to carefully extract the precious stones from your jewelry.

Processing and melting: Once the metals are received and any jewels are removed, gold, silver, platinum, and/or palladium, is melted in an induction furnace; the method for melting depends on the type of metal. During this part of the process, a purifying agent is also added when mixing the molten material to ensure that the sample is uniform and representative. At this point, a serious refiner like Core Scientific takes a sample using the Pin Tube Sampling method while the metal is still molten, to be sure that the sample is 100% homogeneous. Then the liquid metal is poured into a mold and left to solidify. Some refineries wait for the metal to be solid to take a sample with the drilling method, which is less accurate.

Fire Assay and Atomic Absorption Spectrometry Analysis: The most used analysis technique is the fire assay, which is recognized as very accurate. This is a long and complex analysis, but it delivers a result with an accuracy of two parts per thousand. At Core Scientific, we combine this method with ICP and atomic absorption technology, which can measure in parts per billion to ensure that we are compensating for every bit of your precious metal. We do this in our safe on-site laboratory, which reflects the highest standards of the industry.

Settlement: Once the analysis of your materials is ready, the company will notify you of the results and the final price according to the market value of the precious metals, usually the value of the day that the lot arrived at the refinery. An honest precious metal refinery will provide you with the analytic data of the results, so you can be sure that it was all performed correctly. At Core Scientific, we offer flexible payment options and can even tailor one for you, providing a quick turnaround.

The process of refining precious metals is directly connected to precious metal recycling. Precious metals are recycled by sending them to a precious metal refinery, where they will process your material and pay you with a settlement. We will go an extra step in the recycling process to recover the precious metals to get them back on the market. The most important thing is to partner with the right precious metal refinery to assure that you are working with a trustworthy company and that you will get the highest value on your material.

What is the best precious metal refinery?

As leaders in the industry as the best precious metal refinery in North America, we have been recognized as an INC 5,000 company. INC 5,000 companies are among the fastest private-growing companies in the USA. Core Scientific’s success stems from providing the highest returns in the industry and full transparency to our customers. Not only our advanced technologies and unique refining process beat our competitors, but we uniquely utilize our customer portal. The portal is where you will be able to track current and historical settlement records from one or multiple locations, from the moment we receive your lots until you receive your payments, see pictures of your material, understand assay reports, and verify metal weights.

If you are interested in working with Core Scientific, contact us! We’ll be happy to guide you through the process.

 

Or you can find more about us and who we are here!

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CONTACT US

Address:

700 Industrial Drive, Ste K

Cary IL

60013, United States

Phone: 866-660-4631

Working hours:

Monday-Friday: 9:00 – 5:00

Saturday: Closed

Sunday: Closed

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4.7
Based on 150 reviews
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]]> https://core-scientific.com/precious-metal-refinery/feed/ 2 Junk Silver Calculator https://core-scientific.com/junk-silver-calculator/ Thu, 29 Jul 2021 16:16:32 +0000 https://core-scientific.com/?p=27158 The post Junk Silver Calculator appeared first on Core Scientific Precious Metals Refinery.

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Junk silver calculator

The market of junk silver coins and how to profit from it

If you are looking to invest in silver, you might have come across the concept of “junk silver.” This is the term used to describe U.S. dimes, quarters, and half dollars from before 1964, as well as various other U.S. coins, which current market value is lower than their silver content value. If you want to explore this business, a junk silver calculator would be very useful, but let’s first take a closer look at this market.

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Why do people invest in junk silver coins?

This kind of coin is very popular among people who want to invest in silver, especially in small amounts. Before 1964, everyday coins were made of silver, and they are still legal tender to this day, the only change is that with the inflation of the dollar over the decades, the silver melt value of these coins exceeded its value as money. They are referred to as “junk” because they have no collectible value, but that doesn’t mean they are the same as silver scrap.

Many people like to keep this kind of silver investment for its potential use in direct trade. For example, in a financial crisis, these coins might keep their value even if the dollar falls, and therefore they can be useful to buy goods and services. But the largest reason that pushes silver investors to buy them is that silver retains its value over the long term allowing the owners to keep their investments in these private, tangible legal tender containing precious metals with very low risks.

How and what junk silver to buy?

These junk silver coins are usually sold in bulk or “bags” of around 1.000 USD containing a mix of dimes, quarters, and half dollars. Their price is fixed, but according to the variations of the silver price, their value after being bought could increase significantly.

These coins are sometimes called “90%” because the majority of them have 90 percent silver, but you need to know that their content of silver can be as low as 35%. As a general rule, all U.S. coins with a face value above 10¢ that were made before 1965 are 90% silver. But, is there a type of coin that is “best” to buy?

The reality is that the type of coin is not that relevant, yet it is recommended to buy them in bulk, as we mentioned before, because you will most likely pay a slightly lower price per gram. Some specific 35% nickels and 40% half dollars can cost a little more, but they are still convenient to buy. In general, you will find that 90% junk silver coins are more cost-effective.

So, should you buy junk silver?

If you are seeking to invest in precious metals without putting out a lot of money buying, for example, gold coins or silver bars, this can be an excellent opportunity. When you are ready to buy, we highly recommend you keep a junk silver calculator near to help you find the real value of the coins you are buying or selling, and in that way make a good deal.

But, once you have the junk silver coins, what should you do? Some people like to hold on to them and wait for the price of silver to go up and make money re-selling them, but one opportunity that not many people contemplate is sending the coins for melt. In this way, instead of a big bag of old coins, you’ll get a silver bar that can be easily stored and has the same or more value.

If you want to take your junk silver to melt, there are two important things to keep in mind. First, check all the coins you have to determine if they don’t have any collectible value because in that case, it wouldn’t be convenient to melt them. And the second thing is to work with the best silver refinery in the country.

Core Scientific is the leading precious metal refinery in the US, consistently giving our customers the highest returns in the market and providing 100% transparency throughout the process. We are an INC 5,000 company, one of the fastest-growing companies in North America, and we are the only refinery to offer a 24/7 customer portal where you can follow your materials at any time. 

You can start getting the best payments for your refining today! Get in touch with us to know more.

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CONTACT US

Address:

700 Industrial Drive, Ste K

Cary IL

60013, United States

Phone: 866-660-4631

Working hours:

Monday-Friday: 9:00 – 5:00

Saturday: Closed

Sunday: Closed

Google Rating
4.7
Based on 150 reviews
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]]> Scrap silver calculator https://core-scientific.com/scrap-silver-calculator/ Mon, 26 Jul 2021 09:29:48 +0000 https://core-scientific.com/?p=27126 The post Scrap silver calculator appeared first on Core Scientific Precious Metals Refinery.

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Scrap silver calculator

Learn the real value of silver

Knowing the true value of silver can be tricky. A scrap silver calculator can be very useful for some instances, but there’s a deeper concern for people who are investing in silver. Silver prices suffered a great rise in the past year, yet the experts still say that it is an undervalued precious metal. What is it to be of this market in the future? Should you invest in silver?

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The past and future of silver

The past of silver is commonly known; it has been used for millennia as decoration, for utensils, for exchange, and as the base of many financial systems. Today, its applications varied a lot, and now silver is mainly used in electronics and photography. Yet it was never valued as much as other metals and, in the modern era, it has consistently been one of the less expensive metals.

In the past year, a total of 896.1 million ounces of silver were used in the world, with the highest demand being in the industrial sector who used some 486.8 million ounces. It is followed by 200.5 million ounces directed towards physical investments, 148.6 to jewelry, 101 in photovoltaics, and 27.6 in photography (plus some various applications). And just within this year, the USA has already exported 58 million dollars of silver. I bet they used a silver price calculator with all these figures!

But considering these numbers, and the fact that the demand for silver rose considerably in the last 12 months, suffering a spot price increment of 74% (in comparison, gold prices have risen 6.4% in a year), it is safe to say that this trend will keep going up. The latest industrial applications on emerging technologies, like solar power, healthcare, and 5G mobile network, will keep this demand high. 50% of global demand for silver is for industrial production, while it is only 15% in the case of gold; so the rebound of these industries after the Covid economic decay will only benefit this market.

The demand for silver is high, but what about the supply? Well, part of this increment in the price has to do with the fact that the supply of silver is struggling to keep up with the market needs. The “Silver Institute” data shows there has been more demand than supply of the precious metal so far this year. Today, most silver is obtained as a side product of the mining of lead and copper ore. Recycled silver is a growing source that could be further exploited to cover a good percentage of the global needs. The traditional sources of silver might not be up to the task of covering this need, so new resources will have to come up. Today, 15% of the world’s supply comes from recycled silver, half of this coming from industrial recycling, but this is not enough to keep up with the market exigencies.

56.6 million ounces of silver were recycled in the last year in the US, which is by far the largest recycler in the world. And if you want to start participating in this growing sector, you’ll definitely need a silver melt value calculator.

Is silver undervalued?

When we talk about the value of silver, it is inevitable to compare it with gold. The silver and gold markets are strongly related and often evolve together. Factors that make gold prices rise have the same effect on silver, and their behavior is similar, even though silver prices can be more volatile than gold due to the fact that it’s cheaper.

Many analysts claim that silver is undervalued relative to gold, the opinion being that silver’s price should be nearly 20-30% higher than it currently is. The main reason why experts think it is undervalued is that the rise in the price of silver has been “lagging” in comparison to the gold price. Historically, the ratio of ounces of silver that you can buy for the price of an ounce of gold is fixed at 60, yet currently, this ratio is at 70. This means that either the price of silver is going to keep rising even after the growth of gold has stabilized, or the price of gold is going to decrease a lot, which is not likely to happen given the expanding demand for gold.

Silver scrap recycling – A Great Opportunity 

With all this data in mind, the predictions for the future of silver are very good and indicate that this market will keep growing. Therefore, it is a great time to invest in silver, especially in the US—the great consumer of silver in the world with a 22% share of consumption.

As we briefly mentioned above, a great opportunity to invest in silver is recycling silver scrap. Not only because it is an underexploited source, but also because it is sustainable and consistent. The way you would do this is by gathering (either collecting or buying) silver scrap and sending it to a silver refinery to get it purified. You can later sell it and win the price difference or keep it as a physical investment.

In this scenario, a silver calculator will be your best companion. Either if you are buying scrap or sending it to a refinery, you will need to check the prices and costs of processing to evaluate if a deal is convenient or not.

The most important thing when it comes to recycling silver is choosing the right silver refinery to send your scrap. Core Scientific makes refining easy for you. We are a direct precious metal refinery specializing in silver refining with years of experience in the sector and a reputation for giving the highest returns. Get in touch with us now and start making more profit from your silver scrap recycling.

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Address:

700 Industrial Drive, Ste K

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Phone: 866-660-4631

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Saturday: Closed

Sunday: Closed

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Jewelry refinery

What you need to know to start refining your jewelry

Are you thinking about sending your jewelry to a jewelry refinery? If you have any doubts about how refining jewelry works and which jewelry refinery to choose, you have come to the right place. Keep reading to learn everything you need to know to start refining your jewelry.

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Jewelry refinery is the way to find the value of your jewelry scrap

First, you might want to know how much you will get paid for your jewelry. Even though the final price of the jewelry will be determined by the jewelry refiner after the melting and assay, which accurately tells you the amount of precious metals present, you can get an estimate of the price if you have some data about the jewelry. 

For example, if you have gold jewelry you want to refine and know the karats, you can use our karat calculator to estimate your potential returns.

Beware of plated jewelry, which is only covered in gold or other precious metals, but its core is made of non-precious metals, so it’s not worth the process of refining. You can recognize this kind of jewelry using a magnet; plated materials will usually be attracted by it.

Can I sell my jewelry directly to a refinery?

The answer is simply yes! You can sell your jewelry to a jewelry refiner like Core Scientific. We are specialized in precious metal refining for jewelers.

The process of refining your jewelry is known also as precious metal recycling, you can learn more about it here.

How do jewelry refineries work?

Here’s a quick explanation of the refining process:

  1. Send your jewelry, and it gets checked in.
  2. If the jewelry has precious stones, these are removed.
  3. The jewelry is melted to separate and recover the metals on their pure forms.
  4. Then it’s time to assay the molten metals to know how much they are worth.
  5. And finally, the settlement; you get paid based on the results of the assay.

If you want to know how the whole process works, check the details in our precious metal refinery article.

What is the best jewelry refinery?

Most companies will tell you that they are the best jewelry refinery in the industry, but to actually prove it is a different thing. Find out what to look for on the best precious metal refining company here.

You need to know that accuracy is a top priority on jewelry refining, so you should look for a refiner that uses the latest process and assay technologies. For example, at Core Scientific, we use a superior melting process to obtain the most precious metals present in your jewelry, and we use fire assay, ICP-MS plasma, and atomic absorption to test your materials and to get the most accurate results, so you will be paid accordingly. Check our unique process and technology here.

Also, we are a specialized jewelry refinery and a leader in the industry of precious metal refining. We hold ourselves at the highest standards of transparency and are committed to getting the highest returns to our clients.

If you are ready to start refining your jewelry with the leader of the industry, get in touch with us! We will be happy to guide you through the process.

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CONTACT US

Address:

700 Industrial Drive, Ste K

Cary IL

60013, United States

Phone: 866-660-4631

Working hours:

Monday-Friday: 9:00 – 5:00

Saturday: Closed

Sunday: Closed

Google Rating
4.7
Based on 150 reviews
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Palladium refining and palladium scrap

Palladium is often an overlooked precious metal. People don’t always know where to find palladium scrap or whether it is worth something. Sadly, they might be missing a great deal of money because of this. When you recycle palladium scrap, you can then do palladium refining, which is the process to recover palladium from scrap metals.

If you want to know more about palladium refining and making money from palladium scrap, keep reading!

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Palladium scrap price

The price of palladium has been going up steadily for the last couple of years, and its price has grown more than gold and platinum. Even at its highest price on the market, gold didn’t reach the price of palladium. At this moment, 4/12/2021, gold is at $1,732 per ounce and palladium is at $2,646.

Live Data by TradingView

The actual price of your palladium scrap will depend on the weight, purity, and palladium market price of the day, but with the current palladium price, you can make a good profit even with a few grams.

Why is palladium’s price so high? The simplest answer is because it is in such high demand, but it’s rare to find. Palladium can be used in many applications. It has a low melting point and density compared with the other platinum group metals, which makes it more malleable. 

Yet, it is very difficult to find in nature, and most times, it is obtained as a side product of the mining of other metals. That is why palladium recycling is such a profitable and environmentally important business. It being a noble metal, it can be recycled and reused over and over again without losing its properties.

In short, its scarcity and high demand are the reasons why palladium is such a valuable precious metal.

Why is palladium overlooked?

The first thing you need to know is that palladium cannot be recognized by the naked eye. It looks like any other metal and is frequently confused with titanium or steel, which have no market value; therefore, it often gets thrown away.

Another thing that happens is that refineries often do not even mention palladium as being part of the scrap they refine. Because it can’t be eyeballed, they do not disclose when they find it on their assay reports. In that way, they can keep the complete value of it and only pay you for the metals that you would most expect to be found, like gold or silver.

This also happens when you work with cash buyers on the spot. They will pay you only for the metals you can see, like yellow gold, and leave out the rest of the precious metals that can be more valuable. If there is palladium on your scrap, they won’t even say it and will later make a huge profit when it’s refined. Also, because you might think that that scrap has no value, you might not even consider it the next time and lose lots of money.

Where can I find palladium?

As we discussed before, palladium is very scarce yet very useful. These are some items in which you can find scrap palladium to recycle:

  • Dental scrap. Palladium has been one of the most used metals for dental implants; almost all porcelain fused to metal and dental alloys contain it.
  • Jewelry. Palladium-plated jewelry, as it is used to make jewelry look white and resist tarnishing, and also jewelry scraps like palladium wires, sweepings, and grindings.
  • Manufacturing alloys. You can find palladium sponges, flakes, sputter, and sputtering targets.
  • Automotive catalytic converters. These contain a variety of precious metals used as catalysts, and palladium is one of them.

If you have scrap that is not on this list but think it might contain palladium, you can send it in any way! We will be happy to test it and let you know its real value. Request a free container now!

Palladium refining: How to recycle palladium scrap?

Recycling palladium scrap is quite simple on your side. You just need to select the correct precious metal refinery and get in touch to send in your scrap palladium and start the palladium refining process.

After the palladium refining process is completed, the refinery will assay the materials to know how many precious metals your scrap contained. Then, they will notify you of the results and settle with you in the way of payment.

It is important to work with a professional and trustworthy refiner, so you will be sure to get paid exactly what you should, and they won’t hide any results from you.

At Core Scientific, we pride ourselves on being the leader of the precious metal refining industry, always following our core values: 100% transparency with our customers and the highest return in the sector. We use the latest technologies and assay methods to ensure we get the best results from the refining and you get paid accordingly. 

Check this page to learn more about us. If you are ready to start refining, get in touch with us! We will be glad to help you to start recycling your palladium scrap.

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Address:

700 Industrial Drive, Ste K

Cary IL

60013, United States

Phone: 866-660-4631

Working hours:

Monday-Friday: 9:00 – 5:00

Saturday: Closed

Sunday: Closed

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4.7
Based on 150 reviews
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Platinum Scrap Price – How Much Is Platinum Scrap Worth?

If you want to know the platinum scrap price today, we created a platinum scrap price calculator, with platinum live prices where you can add the purity of your platinum scrap to find out the estimated platinum scrap price today. Everything depends on your scrap metals. If you have doubts about the platinum purity of your platinum scrap, the best way to get the most value is by sending it to a direct refinery to process the scrap and get the actual value. Our platinum scrap price calculator was created to offer an estimation, but is during the refining process where we will find out the content of your scrap and its purity.

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Where Can You Find Platinum scrap?

Platinum has multiple applications these days, so here are some examples of where you can find scrap platinum: jewelry, catalytic converters, dental scrap, ep catheters, electrical contacts and electrodes, oxygen sensors, used laboratory testing equipment.

Often, platinum gets ignored because it can look a lot like both silver and white gold, but its price is quite higher. If you have some scrap but you are not sure if it actually contains platinum, you should send it in to a precious metal refinery to test anyway. Core Scientific is the leader in platinum refining, and we would be happy to help you with your scrap recycling. Get in touch with us and start earning money for your precious metal scrap.

How to Sell Scrap Platinum

Selling scrap platinum is pretty easy these days; you just have to contact a precious metal refinery to send in your scrap. They will give you the details to send it, or in our case, send you a free container with a free shipping label. The complicated thing is to choose the right platinum refinery to get the most out of your scrap. To find out the exact platinum scrap price of your metals, you should go with a direct refinery with credibility and that displays their refining process and full transparency.

Be aware of companies providing you a platinum scrap price before refining your materials. These companies are usually middlemen that will pay you much less of what your material is worth, and get a margin when sending it to a direct refinery like us.  A reliable refinery may be able to estimate the potential platinum scrap price of your lot if you have enough information to do that, but will not compromise until they have processed the material. In our case, our process allows us to generate the highest yields in the industry, meaning that we recover the most precious metals from your scrap, therefore being able to pay you more and provide the most accurate platinum scrap price.

If you want to work with a reliable precious metal refiner specialized in platinum refinery to give you the highest returns on your platinum scrap, Core Scientific is the leader in the precious metal refining industry, recognized as an INC 5,000 company, one of the fastest-growing private companies in North America. We have come this far by following one simple principle: full transparency and putting our customers first. Learn more about our company here.

If you are ready to start recycling your platinum scrap, request a free container or get in touch with us!

Looking for the best platinum refinery?

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CONTACT US

Address:

700 Industrial Drive, Ste K

Cary IL

60013, United States

Phone: 866-660-4631

Working hours:

Monday-Friday: 9:00 – 5:00

Saturday: Closed

Sunday: Closed

Google Rating
4.7
Based on 150 reviews
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Precious metal recycling

Everything you need to know about recycling precious metals

As a leader in the precious metal recycling industry in North America, you have come to the right place to learn everything about precious metal recycling. We are going to give you a complete guide, how the process works, and how to get started.

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Can precious metals be recycled?

First of all, let us make it clear that precious metals can be recycled; actually, they can be recovered and recycled over and over again without changing their properties. Precious metal recycling is the way to preserve and exploit precious metals using way less energy and causing less pollution in comparison to mine extraction of new materials.

How are precious metals recycled?

Precious metal recycling consists of collecting scrap metals that contain precious metals and precious metal refining, the process where the precious metals are separated.

If you want to know the full process of precious metal refining, you can check out this article where we explain how precious metal refineries work.

In short, after collecting scrap metals, you send them to a refinery like us, then these metals are melted, or chemically separated from their alloys, to recover their pure forms. We analyze the amount of precious metals and pay you for recycling based on the current market price.

Where can I find scrap precious metals?

If you want to start recycling precious metals, you can find them in jewelry and jewelry scrap, dental scrap, post-cremation implants, electronic devices, catalytic converters, ep catheters, x-ray film, coins, sweeps, and industrial residues.

If you have another type of scrap that you think can contain precious metals but you are not sure, please get in touch with us. We will be happy to help you identify if your scrap is valuable and assist you in how to start recycling and earning money.

Interesting data about precious metal recycling

Environmentally talking, recycling precious metals from high-value scrap, like dental scrap, implants, jewelry scrap, and medical devices, is 300 times better than electronic scrap recycling and mining, in terms of energy demand and global-warming potential.

Still, recycling precious metals from electronic scrap is better than mining, and statistics show that approximately $10bn worth of gold, platinum, and other precious metals in electronic waste are dumped every year, polluting the planet.

However, electronic waste and high-value scrap together only represent 26% of the global precious metal supply.

Precious metal recycling – How to sell your material?

This might be one of the most interesting steps because you can make good money by recycling precious metals. If you are recycling precious metals, you need to choose the right precious metal refinery to send your scrap metals to get the highest possible returns. 

The process of precious metal refining is delicate and should be done by experienced professionals, who also do the right assay to assure that you are being paid properly. Core Scientific is the leader in the precious metal refining industry. As leaders in this sector, we provide the highest returns to our customers and the most transparency. You can learn more about our unique process here.

We are an INC 5,000 company, one of the fastest private-growing companies in the US, and we got this far by putting you first and providing full transparency in our process. We will send you recycling containers for free, covering all shipping costs. When we receive your material, will provide you access to our customer portal where you verify weights, pictures of your material, assay reports, and track your settlements.

As a direct refinery, using the latest refining technologies and techniques, we guarantee the highest yields and provide the highest returns in the industry.

If you are ready to start recycling your precious metals, get in touch with us! We will be glad to hear from you and guide you through the whole process.

Looking for the best precious metal refinery?

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CONTACT US

Address:

700 Industrial Drive, Ste K

Cary IL

60013, United States

Phone: 866-660-4631

Working hours:

Monday-Friday: 9:00 – 5:00

Saturday: Closed

Sunday: Closed

Google Rating
4.7
Based on 150 reviews
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