The MGS Precious Metals Blog

Manhattan Gold & Silver is an industry leader in precious metal pricing and refining with more than 30 years of experience. During our time in the business, we’ve found the topic of precious metals to be a vast and interesting one. Here on our precious metals blog, we write in-depth posts about the science of precious metal refining, historical and modern uses for precious metals, market news, and much more. Subscribe to our RSS feed to stay current, and discuss the latest posts on our Facebook page.

Recycled Gold Production Equals Mined Gold - 4 Reasons Why You Should Care

July 13, 2009 01:19

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:

  1. 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.
  2. In many places today, gold mining may employ controversial chemicals such as cyanide.
  3. Mining is a very dangerous occupation that claims the health and lives of many people every year.
  4. 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.

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