Record awareness and interest has propelled a first in the precious metal refining business: In the first quarter of 2009, recycled gold equaled mined production.
While those not connected to the industry may not see the significance, this milestone has a positive impact on everyone and it is important for several reasons:
- Mining of any kind is, by definition, destructive. There is no easy way to extract precious resources without disturbing and negatively impacting the environment. According to the Environmental Literary Council, some mines require a ton of material for a 10 gram yield of gold.
- In many places today, gold mining may employ controversial chemicals such as cyanide.
- Mining is a very dangerous occupation that claims the health and lives of many people every year.
- Gold recycling has helped keep prices in check and helped meet the demand of those moving to the market as a hedge to inflation.
While it’s yet to be seen if this trend will continue, responsible gold and precious metal recycling is an important service. For nearly 25 years, Manhattan Gold & Silver is proud to be the trusted source of precious metal recycling services for jewelers, pawnbrokers, dentists and industrial users.