Recently in Texas, a gold salesman was robbed of nearly $750K worth of gold. According to sources, the salesman was in his car preparing to go into a gallery when thieves pulled up, jumped out of their vehicle and robbed him. The gold consisted of many pieces of hand-crafted Asian jewelry. As the price of gold rises, and the economy continues to falter, some will do anything to try and get ahead.
When possible, send in your gold or precious metals in so that you don’t have to worry about thieves. If you prefer to come into a physical location, exercise caution to ensure your safety by following some of these safety tips:
- Be discrete when traveling. Don’t “advertise” that you are selling gold for cash. Carry your items in a backpack or other type of bag that you can secure.
- Remember, there is safety in numbers, so travel with a companion. Friends can make you feel more secure, and you can keep an eye on each other while in transit.
- Park your vehicle in a highly visible location, to cut the risk of being surprised.
- If you typically wear a lot of jewelry, remove it before you make your visit. Wearing lots of flashy jewelry can be a signal to would-be thieves that you have cash and other items with you.
Above all, it is important to know your surroundings and take proper precautions to ensure your safety.
Scrap Gold Recycling Process
When gold and other precious metals are brought into Manhattan Gold and Silver, they must be tested before we can pay a customer. Below is an example, with pictures of a large lot of gold being melted, sampled and made into a brick. Smaller lots would be hand tested, which is a different process altogether.
When scrap gold is received from a client, it is weighed and put into a bin for storage until it is ready to be tested or melted.
Once it is time to melt the gold and turn it into gold bricks, the operator scoops up the scrap gold jewelry and takes it over to the furnace.
The scrap gold is placed into the furnace crucible where the temperature begins to rise until it is hot enough to melt the gold into a liquid.
The scrap gold will sit in the crucible for a few moments, while the temperature rises.
Next, the scrap gold liquefies and is ready to be sampled.
Once the gold is ready, a dip sample is taken and it is tested for purity. The melting point of gold is 1947.9741 °F, but this temperature will actually fluctuate depending on how many impurities there are in the bar. The purer the gold, the closer to the exact temperature the gold will melt.
Once the gold is tested, the gold is now ready to be poured into a gold brick.
Now that the gold bar is poured into the mold, it will be set aside to cool.
The process depicted above is just one way that Manhattan Gold & Silver will melt and test gold. Other tests are available for smaller lots and other types of metals. For more information about the refining metals process, please contact us, or stop into our New York office.