Perhaps you’ve held a small chunk of yellow metal in your hands and wondered, “why is this so valuable?” However, when you compare gold to other metals or elements, it’s obvious why humankind has backed currencies with gold for thousands of years.
Gold has the perfect balance of rarity and durability; even when compared to other precious metals. Silver and palladium are too common, and while platinum is more precious, it is also a much stronger element. While gold has a melting point of 1947.52 °F, platinum will not melt until 3214.9 °F. This means it takes a lot of effort to refine platinum, while gold is much easier to deal with.
Then of course, there are the other natural elements (as in, the Periodic Table). You can eliminate many other elements from being potential currency because they are too toxic, volatile, radioactive, or are only available in gaseous states. This leaves other metals like tin or iron. But again, these can’t compete with gold’s rarity or durability. Gold will never crack or corrode, thus it lasts forever and its value isn’t tied to its age (the metal in an old gold coin can be worth just as much as that in a new one, as long as their purities are equal). This is why early civilizations stamped gold coins. The malleability of gold made stamping easy and its rarity made the coins valuable.
Gold is still highly valued today. We at Manhattan Gold & Silver understand this better than anyone. For over 25 years, we’ve refined, not only gold, but silver, platinum, and palladium too. Contact us to learn how you can turn the precious metal scraps from your business into profit.
The final step in the process of refining precious metals at Manhattan Gold & Silver is the one everyone enjoys: payment. You are happy that your precious metals have been valued against current market prices and we’re happy that you have delivered a shipment to our doorstep.
If you have an account with us, we already know your payment preferences. Typically, we settle accounts the same or next day.
Whether you mailed in metals from a dental practice, pawn brokerage, jewelry business or from other industrial sources, Manhattan Gold & Silver is here for your metal refining needs. We're a family-run business, serving your precious metals refining needs with integrity and professionalism for more than 25 years.
If you would prefer to visit us at our Manhattan location with your lot, you can make your choice of payment at any time during the service. We are located in the Diamond District of Manhattan at 45 West 47th Street, New York, NY 10036. If you have questions about your lot or our company, please call us at (212) 398-1454.
The next step in submitting precious metals for refining at Manhattan Gold & Silver is to decide what process you would like us to use to check the purity of the metals you have sent to establish their value.
In the case of gold, we have two methods for discerning purity:
Method 1: Hand Testing
We prefer to hand test smaller amounts. This involves removing all fillings, stones or other impurities in order to test the metal on a basalt stone. We test the material with acid in order to determine the purity (or in the case of gold, the Karat). Hand testing has many benefits. To begin with, it’s highly accurate. In addition, since it doesn't involve melting, we can turn your lot around within minutes. Since the item is not destroyed, we can always send it back if you decide against selling.
Method 2: Melting & Assaying
If the lot is large, we will melt it down and then assay the bar. This takes longer because we first melt the gold into a bar; then we clean the gold and drill it for an assay test. A machine assay will provide good accuracy with speedy results. We can also fire assay it, which means the precious metal is chemically separated from the sample, giving the exact purity of the bar. This way takes longer, but we do offer cash advances to assist customers with there cash flow needs.
Determining the purity of precious metals may make customers nervous, but there is no need to worry. Manhattan Gold & Silver has been in business for over 25 years and is family-run. We pride ourselves on our reputation of integrity and good work. If you have any questions about the two methods of discerning precious metal purity, please contact us.