Gold,
Platinum and Silver have all come to prices higher, faster than many of us
expected. Now we see palladium emerging in importance in response to nickel
white gold issues and high platinum costs. High market prices have everyone
digging deep to clean up and send in for refining. Many are taking advantage
of high gold prices to cash out old inventory. others are getting gold
and solder back to produce fresh inventory.
Gone
are the days of gold filings languishing in a coffee can awaiting higher
market prices. When gold was under $300 a few short years ago many accumulated
large amounts of filing or scrap gold.
The
entrepreneurial jeweler must carefully examine the metals and money strategy
then balance the inventory carefully. Some are making the mistake of casting
their buttons to death and are forced to remake or repair finished custom
pieces.
Our suggestion is to send your
refining in as soon as practical, and ignore the market prices. If the market
price is not to your liking simply tell us to return your pure metals
to you. We do this at no extra charge, apart from insuring the shipment
and shipping charges. Many of our competitors actually charge you a premium
to receive your own refined metals that you have paid to have processed!
We would never do that here at PMWest, the small jewelers best friend. We
hold all options open to your metals/money mix.
Our Refining Result Policies
For scrap to 24kt-We
charge a simple honest 2.5% of your 24kt, (giving a mutual interest in a
high result) for clean & bench
filings, with a small $100.00 minimum charge.
For scrap to money, we charge 3.5%, or a 96.5% return.
For
Platinum, we charge $100 for an assay and we then pay 85% of the result of
that assay.
For
Silver we pay 85% of the assayed result with a $25 minimum charge. Bar charges do apply, typically $25 to $50 to smelt silver scrap into a bar.
If
you have a silver or gold lot that containes palladium or other PGM's we can discuss charges.
For stone recovery our aqua reqia dissolve allows recovery of all stones. We charge 5% of the 24kt with a $200 minimum charge. Diamonds, rubies, sapphires, emeralds and topaz all remain un harmed. Pearls and opals do not do so well.
When
we finish your refining you may sell to us at the settlement days Second
London Fix (The "PM" Fix),
and receive a check drawn on the Bank Of America. You may ask us to send
your pure metals back, or you may use those metals to get the best possible
pricing on casting grains of any description, solder, wire or whatever you
need. You can even get one of our state of the art casting investments.
In
most cases we buy the metals from our customers on request. Even when the
market is volatile. It
is remotely possible that if prices swung beyond reason that we reserve the
right to return pure metals from a lot rather than purchase the metals. We
will always stay in touch with refining customers on current events in the
market, and their options when the lot is finished.
Precious Metals West/Fine Gold
performs refining geared to smaller lots. Walk with me through our refining
flow chart. Please be patient with the download, these pictures are worth
the wait...
First,
showing a typical
filings lot being sifted (not smelted) so it can go straight into
the acid to dissolve quickly and completely...
Each lot is handled individually
in it's own beaker, all the way through to it's own conclusion.
We don't merely smelt/assay/combine
lots-(Like our larger refining competitors)
During the dissolve,
filtering, and precipitation stages Robert Lumabao (not pictured here) tends
to the chemistry by hand. Years of experience at the fingertips...
Through the dissolving
After
the precipitation your gold is in "sponge"...
The sponge is hydrogen torch
melted into our water barrel...
And after the pour your 24Kt
gold will look like this...
We
charge a honest 2.5% of your 24kt, (giving a mutual interest in a high result)
for clean & bench filings,
with a small $100.00 minimum charge.
If
you need any of our products, we apply the "prepaid" discount to
offer unbeatable pricing. Casting grain, solders, anything we make....
Daniel@preciousmetalswest.com
Since December 10th 2004
©2007
Keith Weinstein Inc.
