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Our gold refining process begins when we receive your scrap gold (or other precious metals) to be recycled. To determine the metal’s purity, we perform an assay. Once we have assayed the weight and purity of the gold, we have all the information we need to quote you a payout price. From there, your gold is melted down in our refinery. You can even watch this entire process in person.
Depending on the amount of precious metals and the form they’re in, some assays can be more efficient than others. We specialize in several types of assays, or testing methods. This chart shows the key differences between the assays we offer and their costs:
|Acid Testing||XRF-Analysis||Fire Assay||Ultrasonic Testing|
|Accuracy||10-20 parts per thousand||2-5 parts per thousand||1-5 parts per ten-thousand||100%|
|Time for Results||Instant||two minutes||1-2 days||Instant|
|Useful for testing…||most small lots||filing dust, polishing material and non-plated metals||very large lots of mixed materials||bullion authenticity|
Depending on the size of the lot, the type of scrap it contains, and your personal preference, we may do one of these assays:
While gold, silver, platinum and palladium metals come from different industries and may be used for different applications, we have expertise with them all.
The acid test for gold has been used by jewelers, refiners, and other precious metal professionals for centuries. We use this acid testing method for small pieces or lots of precious metal.About Acid Testing
For our customers with a sizable enough lot who want a highly accurate precious metal analysis, we use XRF gold testing (X-ray fluorescence) as our onsite assaying method.About X-RF Assays
A fire assay–or melt test–is the most complex and accurate assay method. Commonly used at mining companies and refineries, we recommend this testing method when acid or X-RF tests aren’t the best assay option.About Fire Assays
The ultrasound test is perfect for determining whether an item is precious metal-plated without damaging it. That’s because unlike other assay methods, melting is not required.About Ultrasound Assays
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!