All packages should have a letter or note stating the scrap weights. Special instructions regarding the settlement options must be in writing (preferably not written on the package). Due of the high cost of assaying, WE DO NOT ASSAY FOR ALL PRECIOUS METALS UNLESS REQUESTED. This includes platinum, so please tell us what metals you work with. If you send us 50 oz. of material or more, we automatically assay for silver, because of the silver alloyed in 14K gold. It is usually not worth the extra refining charge to recover the silver in karat gold from smaller lots, unless you work a lot with silver and think it contains at least 4-5 ozs.
Six Ways To Separate Your Scrap
1. Gold scrap – karat scrap, jewelry scrap, filings & benchsweeps
2. Silver scrap & filings
5. Gold filled scrap, watch bands & optical scrap (Keep each item separated)
6. Floorsweeps, polishings, sink sludge, emery & filters
MAXIMIZE Your Returns
• Anything used in precious metal manufacturing should be turned in for refining with sweeps in container. This includes store buffs, brushes, emery paper, etc.
• Include name, address and instructions.
• Include the weight of the scrap.
• Separate metals, not karats.
• Separating your scrap increases your bottom line by minimizing your refining charges.
• Separate magnetic from non-magnetic material.
• Treat it like the rest of your inventory, turn it at least twice a year.
• Know the basics of refining.
• Track the scrap in your shop.
• Promote the fact that you buy scrap.
• Itinerant buyers charge higher fees.
• Send your scrap to a reputable refiner.
Tip To Improve Your Return
Iron in your scrap may lower your return. Iron has a high melting temperature so it’s more difficult to melt and assay. It is best to remove any iron from your scrap with a magnet.
©2009 Hoover & Strong, Inc.