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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.

The Manhattan Gold & Silver Shipping Gold Process

July 9, 2010 05:44
Just because you don’t live in New York, doesn’t mean you can’t take advantage of Manhattan Gold & Silvers services.  We accept shipments of scrap gold and other precious metal by mail every day.  When located outside of driving distance to our facility, we make it a very simple and efficient process to ship your gold.  Something we have been doing for years.  The typical procedure works as follows.  
Step one is to establish an account with us; this requires basic customer information, company name, address, and etc.  Simply call and we will fax over customer forms.
We recommend putting a packing slip in the shipment, make note of your weight and any other special details.  When labeling your package, address it to:
Manhattan G & S
Ground Level
45 W 47th Street
New York, NY 10036
Once we receive your gold, it is then checked against the packing slip to verify the weights are correct.  The gold is then melted or hand tested depending on the customer’s preferences.  We also recommend getting set up with bank wires.  Typically the lot is settled on the same day and the funds are wired into your account.  This certainly speeds up cash flow so you can buy more gold.  For more information please visit www.mgsrefining.com or call us at 212-398-1454.

Pennyweight Conversion

July 2, 2010 20:03
Gold is a precious metal that is used throughout the world for currency, jewelry, decorative art and other items.  In the United States, troy weights and more commonly, the pennyweight is used as the unit of measurement.  Outside the US, grams and other metric weights may be used to weigh gold.  Prices are set by the London Fix each day in troy ounces, so in order to accurately determine what the value of your gold is, you will need to convert it to this standard.
Here are some common conversions:
1 Troy OZ =
20 Pennyweights
155.517 Carats
31.104 Grams
Manhattan Gold and Silver has created a conversion chart with many other units so it is easier to convert.  If you have an item that doesn’t fall within the specified weights on the chart, there is also a conversion calculator on the same page.  
We encourage anyone that needs more information on conversions, or general gold questions to contact us though our website, or if you are in the New York area, stop by our office located in the Diamond District. 
 
 


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The Diamond District

June 25, 2010 13:11

As many people already know, Manhattan Gold & Silver is located in the Diamond District of NYC. The Diamond District is located on West 47th Street between Fifth Avenue and Sixth Avenue.  While some jewelers have their own shops along this strip, most have booths in the 25 jewelry exchanges located in this area.  Each exchange can have as many as 100 separate jewelry or related businesses. In this situation, you don’t have to travel very far to find what you may be looking for.  Simply move five steps in either direction and you will see completely different inventory.  The Diamond District is made up of approximately 2,600 independent businesses, all of them dealing in diamonds, jewelry, gold and other precious metals and stones. 

 

The area is one of the primary centers of the global diamond industry along with London, Antwerp, Belgium, Mumbai, India, Ramat Gan, Israel and Johannesburg, South Africa.  The district serves as the premier center for jewelry shopping in the city and it is estimated that 90% of the diamonds inthe US enter through the district.  The average day’s trade value in the diamond district is $400 million.

Manhattan Gold and Silver islocated at 45 W 47th Street· New York, NY 10036,in the diamond district.  We look forward to greeting you when you visit this area. 

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