Olympics Going Green - Recycling Precious Metals for Medals

The Vancouver 2010 Winter Olympics is going green.  Not only is the Olympic committee pushing / practicing the three R’s (Reduce, Reuse, and Recycle) using the bins provided at all Games venues;   this year, when the winter Olympic champions have the gold, silver and bronze medals placed around their necks, they will be wearing old computer parts. 

In an effort to cut greenhouse emissions by 15%, Olympic organizers are using recycled materials to help reach this overall goal.  In past games, the medals have been made of freshly mined ores.  A Canadian based mining company responsible for making the medals had developed a process to recapture metals from cathode ray glass tubes, computer circuits, keyboards and other recyclable e-waste.  The process to recover precious metals is said to include shredding, separating and heating the recyclable materials.  Other signs of the sustainability of the Vancouver 2010 Games include solar panels and green roofs in the Olympic villages as well as personal reusable water bottles at Games venues for the first time.

Third place finishers will receive a bronze medal with 1.11% recycled material.  Second place finishers will receive a silver medal with 0.12% recycled material.  And the Olympic champion in the event will receive a gold medal with 1.52% recycled material.

Fire Assay

Fire Assaying is the best way to determine what the purityof gold is.  But many do not know what itis or how it works.  Fire Assay is aqualitative determination in which gold is separated from impurities by fusionprocesses and weighed in order to determine the actual amount of gold presentin the original sample. 

The fire assay process has been practiced for centuries todetermine the weight of precious metals including gold, silver and platinum.Compared to other determining techniques like X-Ray assaying, fire assay is themost accurate because other impurities are “burned” off, leaving only thepurest of metals. 

At Manhattan Gold & Silver, we practice both X-Rayassaying and fire assaying.  Because fireassaying is a very intricate process, there is a small fee associated with it.  When you do send your gold to us for refining,we recommend the fire assay process, because it is the most accurate and is thebest way to determine the amount and purity of gold, so we can give you thebest possible price.

For more information about our Gold Refining Services,please contact Manhattan Gold & Silver today.  Call, email or feel free to visit our officein the diamond district.

Gold Exchange-Traded Fund (GETF)

Many realize that gold is a good investment these days.  While the price of other items is going down,the price of gold is rising.  Manybelieve the price is going up because gold is becoming scarcer by the day.  While it is indeed rare, this really hasnothing to do with the price.  Gold is atraded commodity, like other commodities, the price can fluctuate throughoutthe day. And to the surprise of many, there is not just one way to invest ingold.  One way is through gold ETFs, somegold ETFs buy and physically hold gold bullion (they hold large collections ofgold bars), while others invest in futures contracts.  The impact of ETFs should be interesting onthe price of metals.  These are fairlynew, allowing access to the world to buy commodities in there regular stock portfolios.

How these are traded will depend on how the price of goldgoes up and down throughout the day. Typically, the price of gold is reported in the morning and in theevening, to show the opening and closing price. Manhattan Gold and Silver displays the opening and closing price on ourhome page and it is updated daily.  Otherprecious metal prices are displayed along with gold.

For more information about gold and gold recycling services, please contact a representative from Manhattan Gold andSilver.