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The MGS Precious Metals Blog

Manhattan Gold & Silver is an industry leader in precious metal pricing and refining with more than 30 years of experience. During our time in the business, we’ve found the topic of precious metals to be a vast and interesting one. Here on our precious metals blog, we write in-depth posts about the science of precious metal refining, historical and modern uses for precious metals, market news, and much more. Subscribe to our RSS feed to stay current, and discuss the latest posts on our Facebook and Google+ pages.

The Manhattan ‘Gold Rush’

August 15, 2017 07:00
The Manhattan ‘Gold Rush’

As a precious metal refiner, MGS has built a reputation of extensive knowledge and experience with more than 30 years working in the Diamond District. We’re also known for our higher than average payouts for gold and other precious metals. But most of all, we’re known for our speed of service. Some clients are so impressed with our turnaround times that they like to call our service "the gold rush."    

While our team definitely is fast, we pride ourselves on never “rushing.” Every client and every lot is handled with care. Whether you bring us your precious metals or have them shipped, we’re communicating with you every step of the way.

But let’s get back to speed – how are we so fast? It’s a combination of experience (family-owned and operated since 1985) and strict standards that ensure you get a fair valuation without long waiting times. For example, all of our payouts are based on the authoritative pricing of the London market fixings. If you bring in gold for hand testing, we’ll pay 98.5% of its London fixing value. There are no haggling skills required – just a fair, honest price.

So just how fast are our processing times? For most types of lots, we can have your payout the same day. For filing dust we can process that while you wait and watch! We can have your assay results and payout ready in three weeks or less for polishing lots. For large lots containing gemstones, we can safely remove the gems via a chemical process and have your payout ready in only 7-10 business days.

The testimonials from our customers speak volumes, but allow us to prove it to you. Contact us today for a quote, or to learn more about our refinery’s capabilities.

How to Buy Bullion Safely

August 10, 2017 07:00

Bullion is widely known as a safe investment. Unfortunately, the process of purchasing bullion can be risky if you don't do your homework. We recently wrote about some con artists posing as needy individuals in order to sell fake gold. Some frauds are even more complex, going so far as to set up a fake business, forge assay documents, and more. Of course many dealers are on the up-and-up, but when it comes bullion, you can never be too careful. If you’re interested in purchasing bullion bars or coins, use these tips to ensure a safe transaction.

 

Always research the seller

Before committing to a bullion purchase, check in to the seller's business history, references, and authorized dealer status. For bullion coins, buying directly from the mint is generally safe. If you're interested in making a large purchase of bullion, check the LBMA's "Good Delivery List," which catalogs the names of accredited refiners whose bullion meets the strict requirements for trading on the London exchange.

 

Compare with originals

If you can, compare the bullion and/or certificates of authenticity with verified originals. Comparing the two (even just pictures of them) can reveal inconsistencies if the piece in question is counterfeit.

 

Assay thoroughly

To truly guarantee authenticity, utilize a third party for professional assaying services. In most cases, an ultrasound assay is the best option. The test is non-destructive and is excellent at detecting plated gold and filled gold (both are counterfeiting techniques that can pass other assays).

At MGS, we practice what we preach. We’ve been family-owned and operated in New York’s Diamond District for more than 30 years and proudly maintain an A+ rating from the Better Business Bureau. Our 1 oz gold bars are sealed, certified, and labeled with a serial number and QR code for authentication purposes. We also have special scanning devices to authenticate bars and coins on the spot. If you’re interested in purchasing bullion, we’ll happily answer any questions you may have.

The Technology Made Possible by Platinum: Part 2

August 9, 2017 07:00
The Technology Made Possible by Platinum: Part 2

Our last post went over some technologies made possible by platinum compounds. In this article, we’ll look at some technologies that utilize platinum that hasn’t been chemically altered. Since the price of platinum maintains a consistent high, these applications use a minimal amount of the metal. Still, without platinum (even small amounts) these technologies wouldn’t be possible.

Healthcare

Like gold and silver, platinum has a range of uses in the healthcare industry because it can be fabricated into small, complex components with good electrical conductivity. Platinum also resists heat, acid, and corrosion very well – so it can withstand the environment of the human body easily.

The most common medical applications for platinum include dental implants, like inlays, bridges, and crowns. In pacemaker devices, platinum/iridium electrodes are used to help the heart maintain a normal rhythm. Also, the catheters used for minimally-invasive heart surgery have platinum marker bands and guide wires. These show up well in x-ray images so surgeons can safely navigate the catheter during the procedure.

Information technology

Most computers contain gold-plated connections and wiring. In addition, the hard disk drive, or HDD, uses a cobalt/chromium/platinum alloy for its magnetic storage layer. The platinum in the alloy gives the layer much needed thermal stability – ensuring that data stays intact throughout temperature fluctuations.

Glass

Glassmaking involves an extremely high-temperature environment, much like metal refining. The vessels that hold and form molten glass contain platinum alloys. Because platinum has a melting point of 3214.9 °F, the vessels can resist the high temperatures of the furnace and the hot glass.

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