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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 page.

Gold Recycling Process

August 9, 2010 23:43

Scrap Gold Recycling Process

When gold and other precious metals are brought into Manhattan Gold and Silver, they must be tested before we can pay a customer. Below is an example, with pictures of a large lot of gold being melted, sampled and made into a brick.  Smaller lots would be hand tested, which is a different process altogether.

When scrap gold is received from a client, it is weighed and put into a bin for storage until it is ready to be tested or melted.

Once it is time to melt the gold and turn it into gold bricks, the operator scoops up the scrap gold jewelry and takes it over to the furnace.

The scrap gold is placed into the furnace crucible where the temperature begins to rise until it is hot enough to melt the gold into a liquid.

The scrap gold will sit in the crucible for a few moments, while the temperature rises.

Next, the scrap gold liquefies and is ready to be sampled.

Once the gold is ready, a dip sample is taken and it is tested for purity.  The melting point of gold is 1947.9741 °F, but this temperature will actually fluctuate depending on how many impurities there are in the bar.  The purer the gold, the closer to the exact temperature the gold will melt.

Once the gold is tested, the gold is now ready to be poured into a gold brick.

Now that the gold bar is poured into the mold, it will be set aside to cool.

The process depicted above is just one way that Manhattan Gold & Silver will melt and test gold.  Other tests are available for smaller lots and other types of metals.  For more information about the refining metals process, please contact us, or stop into our New York office.

MGS Refining Featured in Diamond District Monthly

July 23, 2010 04:49
For the last 25 years, Manhattan Gold and Silver has been known for its honesty and integrity. Recently, we were featured in the Diamond District Monthly newsletter.  Diamond District Monthly is regularly published by the 47th St. Business Improvement District. It covers the street, its people and businesses like no other publication.
Click on the issue you wish to see and enjoy your digital journey to New York’s premier shopping venue for diamonds and fine jewelry.
The article gives a brief history of our gold refining business, and focuses on how Mark Oistracher started the business that was eventually passed down to his two sons.  Today, Manhattan Gold and Silver still focuses on honesty, integrity and giving their customers the most for their gold.  Recently, Manhattan Gold and Silver announced that they would give up to 98% for hand tested gold.  Over the years they have also upgraded the technology in their location to make transactions more efficient for customers.  In many cases, people can have a payout in twenty minutes.
We encourage all to read the newsletter, as it gives great insights into the diamond industry.  For more information please contact Manhattan Gold and Silver.

MGS Refining and the JVC

July 16, 2010 09:33
The Jewelers Vigilance Committee (JVC) is an organization formed to provide self-regulation and education to those in the jewelry industry.  Members operate under the highest standards of business practice after pledging to comply with all laws applicable to the jewelry industry and make accurate representations about the products they sell. 
 
The JVC also offers tips for consumers, so they are aware of what to look for when choosing a reputable jeweler or they can get questions answered when they want to sell scrap gold.  This is especially important because the recent surge in gold prices has brought to the surface many illegitimate gold brokers who do not follow best business practices.  The JVC also allows customers to log a formal complaint about businesses that they feel are treating them unfairly.
As a gold buyer, Manhattan Gold & Silver is proud to be a part of the JVC.  It shows our customers that we care about the integrity of our business and that we adhere to the best business practices.  As a JVC member, we must follow the following standards:
  • Make reasonable efforts to educate self and staff as to the applicable current legal requirements.
  • Comply with all laws and regulations applicable to the jewelry industry.
  • Make accurate representations about the products you buy and the products you sell.
  • Communicate to business partners your commitment to compliance with the law
  • Resolve all customer complaints promptly and fairly. 
For more information, please contact Manhattan Gold & Silver or call us at 
212-398-1454.
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