People often wonder how to judge or evaluate the value of their scrap metals. What matters is purity and weight. Manhattan Gold & Silver utilizes two main means of judging a lot’s worth – hand testing or melting and then fire assaying a sample. But there are other factors that can influence value in separate markets.

When it comes to coins, for example, there is a difference between “collector” and “scrap” value. For instance, most silver coins with common dates have no value to coin collectors, but do have value from a metal purity standpoint. On the other hand, some coins are rare or unique special date coins, and they do indeed have a greater value than the content of the precious metal making up the coin. In a typical precious metal refining arrangement all coins are equal based on their purity and weight; but to a collector a “less valuable” coin from a precious metal perspective, may indeed be more valuable, due to its rarity.

In addition, it’s important to keep in mind that precious metals are commodities, and their prices can fluctuate greatly from day to day, so the value of your scrap can also vary from day to day, and the price you are quoted on Tuesday, may not be the same price you will get if you decide to wait until Friday to sell. We base our prices on the daily London Fix and pay out up to 99% of a lot’s value.

Finally, when you’re evaluating the best options for your lot, be sure that you understand how your precious metals stack up in terms of purity. Gold and silver are oftentimes combined with other more durable metals to make them stronger. Gold is measured in Karats (K) and the higher the Karat (up to 24K which is considered pure gold), the greater the value. Similarly, silver is usually either 40%, 80% or 90% silver. If you understand what it is that you have, you will be able to make the right recycling decision to suit your needs. Check out our gold and silver historical price charts to learn more about how values fluctuate over time.

Here's an interesting news item about a rare geological find: A nine pound nugget of gold found in Northern California will go on sale soon.

It was found last year in the same general area that prompted the original California gold rush of the 1800s. It was discovered by a property owner who took a metal detector on to his property, walked around searching, and got a signal. He got an exceptionally large signal that belonged to an exceptionally large gold nugget that's causing a lot of excitement.

In the 1800s, a nugget of this size would have been melted down, refined (there are bits of rock and other matter mixed in with the gold) and then made into coins. But these days, the find is worth more in its raw form.

If you figure nine pounds of high-quality gold are in the nugget, and we round the price off to $1,360 per ounce, the value of the nugget would be a little under $200,000! But in it's current, unrefined form, collectors are expected to pay as much as $400,000 for this unusually large find when it goes to auction this month (March 2011).

For us, it has a different value. It's value will bring interest to gold, gold mining, production, refining and prices.

The find will inspire others to get metal detectors, sluices (panning devices) and maybe even a pick ax or two and go looking for gold. It could inspire an entirely new rush of gold prospecting activities in the mountains and streams of California, as amateur and professional miners search for the precious metal. If that happens, it is possible that more and more gold deposits might be found, increasing production and boosting interest in the world's most widely traded precious metal.

Manhattan Gold and Silver doesn't work with unrefined ore; we're a few steps further down the production line, but at nine pounds, who can help talking about this amazing gold nugget?

Alluvial is a term that refers to soil sediments and the various sand, silt, gravel, clay or other deposited matter left behind by flowing water. "Alluvial gold" refers to the type of gold dust found in that kind of soil. When the beds of rivers or streams are scooped and panned for gold dust, the product is referred to as alluvial gold.

Panning for gold is one of the oldest ways to produce gold. There are recorded instances of mining such deposits in ancient Rome, where gold and other precious metals were extracted from streams and mountainsides using panning devices known as sluices.

It's a simple process, to be sure. The would-be miner simply scoops up an amount of sediment in a flat, shallow pan-like device. The device is agitated in water (which is why panning in rivers and streams is so convenient), allowing less weighty materials to spill out of the pan. If there is a concentration of gold or gemstones in the sediment, those sink to the bottom and are examined and collected by the panner.

Manhattan Gold & Silver doesn't handle alluvial gold. We're a B2B company that specializes in refining scrap precious metals and returning the value of the scrap to our customers who bring them in for service. We think gold panning is a fascinating way to acquire gold, but we're better equipped to service the dentists, jewelers, pawnbrokers, and other various businesses that use gold and other precious metals in the course of their business.

We're ready to do our best for your business when you're ready to recycle your precious metals. If you've got scrap gold, we'll help you turn it back into an asset your business can use.