Precious Metal Refining
An overview of the gold refining process from MGS
Recycling is extremely important for the precious metals industry. In fact, recycled gold makes more than a third of the current world supply. Here at Manhattan Gold & Silver we are pleased to be one of the few companies with the flexibility to offer precious metal refining services to a variety of businesses—from jewelers of all sizes, to pawnbrokers, dentists, and more.
The process begins when a client brings us scrap gold (or other precious metals) to be recycled. To determine the purity of the gold, we perform an assay. Depending on the size of the lot, the type of scrap it contains, and your personal preference, we may do an acid, XRF, ultrasound, or fire 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 - and if you have time, you can watch this entire process.
For payouts, MGS’s exchange rate is confirmed at 10:30 a.m. each business day, set to the second London fix, which is kept up-to-date on our precious metals prices page. We are also happy to provide the current price over the phone at 212.398.1454. When there are abnormal market conditions, prices may be adjusted. Contact us with any questions regarding our precious metal refining services, or learn how to sell us your precious metals