Precious Metal Can Hide in the Darndest Places

At MGS, we accept many different types of precious metal scrap. Since we’re in New York’s Diamond District, we have many jeweler clients who periodically clean off their workbenches and bring us their polishing material and filing dust. Recently, one such client of ours was doing some workplace renovations, when they came to us with an interesting proposition.

Ordinarily, your beat-up old carpet isn’t worth anything. But if you’re in the right line of work, old carpeting can pay for itself – and then some. This client was replacing their carpeting when they had the brilliant idea to bring the old carpeting to MGS. This was definitely something we’re not used to people bringing in, but we wanted to see how we could help. After making some modifications to our standard refining process, we managed to extract a whopping 20 ozt. of gold scrap! That’s more than $23,000 worth, just hiding in the carpet. And, it doesn’t even account for the nice amount of platinum scrap we found in there…

So, here’s an idea for our jeweler friends, and others who work with small bits of gold: consider never cleaning your carpets. Every few years, rip them out, bring them to MGS, and we’ll see how much precious metal scrap we can extract.

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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