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What Is Precious Metal Refining?


If you have precious metal scrap you want to sell, you’ve likely run across the term “precious metal refining” somewhere.

Here’s what precious metal refining is and what refineries do.

Precious Metal Refining Defined

Precious metal refining is the act of purifying an impure material so only its precious metal content is left. The precious metals within products or by-products (e.g., electronic, dental, industrial, or jewelry scrap) are isolated back into their pure states.

Once the metals have been purified, they can then be exchanged on the market. A good precious metal refinery can perform this, but they also do much more than just refine your scrap.

The Benefits of Using A Precious Metal Refinery

Here are some of the benefits of using a precious metals refinery:

  1. Precious Metal Refineries Test the Scrap You Own

A good precious metal refinery will run tests on your scrap, issue a report detailing all the metals your scrap contains, and give you an estimate of your scrap’s total value.

This is usually done through methods like:

  1. Precious Metal Refineries Provide Valuable Guidance

Precious metal scrap can be complex. One piece of metal can contain many useful precious metals you won’t be able to tell apart on your own. A trustworthy precious metal refinery can give you solid advice on what to do with your metals.

They’ll even walk you step by step on how to package and ship your metals to them. At MGS, we even provide a payout estimator that allows you to calculate the estimated value of your lot yourself.

  1. They Deliver A Quick and Fair Payout

A great precious metal refiner will work hard to ensure your shipment is processed quickly and you receive your payout in the shortest time possible. At MGS, we allow you to bring your lot in person, but we also offer discounts with our shipping partners or your preferred carrier to ensure that you can ship your metals fast, inexpensively, and receive your payout in as short a time as possible.

There’s More to Precious Metal Refineries Than Meets The Eye

Precious metal refineries do so much more than just refine scrap. Be sure to choose the right refinery so you can have the best seller experience possible. Consider using a refinery like MGS that has many years of experience and plenty of reviews detailing their trustworthiness and efficiency.

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