Q&A: Refining and Payout

We’ve seen a recent inflow of questions about Manhattan Gold & Silver’s refining and payment process. Of course, customer service is very important to us, so we’ve decided to answer some frequently asked questions here on our blog.

Q: Do you melt your own gold?

A: Absolutely. Manhattan Gold & Silver does all of its own precious metal melting on site. We are able to process your lot faster and can offer you a bigger payout than other refiners.  You can witness your own melt being processed.

Q: What percentage of a gold lot’s worth do you pay out?

A: We are very competitive with our payouts. We will pay up to 99% of the current value of your gold lot, according to the daily London Fixing. Since the 3 p.m. (London time) fixing is done to correspond with the opening of the U.S. market, this is the fixing we use for our payouts.

Q: Can you give me an estimate for my lot?

A: Manhattan Gold & Silver gives you several options to get an estimate for your lot.
•    You can give us a call at 212-398-1454.
•    Bring your precious metal to our storefront in Manhattan.  We will hand test it and pay you based on that day’s price (London Daily PM fixing) on the spot (in cash, check, or wire).  If you have a larger lot and a little more time, we will melt it down on site and assay a sample of the bar before calculating your payout.
•    Use our Pennyweight Conversion Chart and our weight conversion calculator in combination with the most current daily London Fixing to calculate payments on your own.
•    Register with our website to gain access to our Precious Metals Payout Estimator. You also gain access to our Ship & Sell feature when you register. You don’t need to be near New York to work with us. Simply ship us your metal, and we can wire you a payment, often on the same day we receive your lot.

Manhattan Gold & Silver is always pleased to answer your questions, so feel free to contact us with your comments or concerns.

Manhattan Gold & Silver Update

We’re currently open from 9:30am – 4:00pm Monday-Friday.  Customers are now allowed to enter the exchange with a mask and witness melts as usual.

If you have any questions you can still contact us at 212-398-1454 and sign up for our newsletter for further announcements.

Most importantly, please stay safe! 

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