Finding Your Precious Metal Scrap

Your precious metal scrap could literally be going down the drain or out the door. Below are a few areas where you can increase your profit margins by targeting waste in your shop. Identifying these areas is the first step towards maximizing the value of your return and ultimately increasing your bottom line.

Sink Trap
A sink trap can be purchased or made for very little cost. Purchase a 5-gallon or larger container that will fit under your sink. The trick is to extend the sink drain (inlet) below the tank drain (outlet) so that any precious metal pieces will settle to the bottom instead of floating across the top of the water and out into the sewer. Place the outlet towards the top of the tank so that there is little water movement in the bottom of the tank to allow settling. Clean the trap out at least twice a year to reduce offensive odors in the tank. Include the dried sludge with your sweeps to reduce refining costs. This inexpensive tank will be “worth its weight in gold” over the years.

Separate Metal
If possible, separate the metals in the shop, silver from gold, gold from platinum. This will allow us to purchase small amounts of different metals from you without incurring assay costs and will save you money.

Floor Mats
Capture scrap in your floor mats instead of having the precious metal walk out the door. Dust, clippings and small scrap pieces will find their way to the floor in any shop and can collect on the soles of shoes. Use heavy-duty rough pile floor mats. Vacuum regularly to keep them as an efficient tool to keep scrap in your shop. Keep a small separate vacuum to collect only gold scrap, filings and floor sweeps in the shop.

NOTE: Due to the chemical composition of this material, it is environmentally unsafe to burn and refine. We at Hoover & Strong strive to protect the environment and safety of our employees. As an alternative, if you shake and vacuum the contents from this material and add it to your floorsweeps, you will receive an additional credit and save on transportation costs.

Wastebaskets
Have two separate wastebaskets, one for regular trash, one for trash that has small amounts of precious metal. Jewelers should use baby wipes or wet paper towels to clean their hands before washing their hands in the sink. This practice will capture particles usually washed away into the sewer. You would be surprised at how many small particles go into the sewer otherwise. We can guarantee this practice will more than cover the cost of wet wipes. Also, throw aprons, rags, floor sweeps and polishings into this wastebasket.