Big Tip for Gold and Precious Metals Recyclers
Guys, I am going to give you great advice about refining gold and precious metals.
For all small recyclers, who dream about refining precious metals in order to save some money, I can tell you that in 99% of the cases, you are going to lose time & money.
From my point of view, with over 30 years of experience, you can earn money if you buy precious metals scrap at a good price, do a first treatment (to ensure its homogeneity), analyze it (for its metals content) and send it to a good refinery.
Here are the main reasons why:
- Your refining process will probably not end with pure metals, so you will have to send it for final refining and pay for the process.
- The process efficiency will be lower than a professional refinery, so you may lose metals during the process.
- Processes may take time which will expose you to price fluctuation and finance issues.
- Refining occasionally involves using some hazardous materials which will require dealing with environmental issues.
- The time spent on the refining process could be better used for collection of extra scrap.
- Even if you do manage to refine the metals to 99.9 % with platinum, palladium and rhodium, it will be hard to earn their market price.
Follow the basic rule of KIS – Keep It Simple