The Benefits of Precious Metal Refining

If you are interested in taking your jewelry manufacturing business to the next level and are intent on producing eminently durable pieces that will thrill your customers, you should surely consider contracting with a precious metal refining service. Gold, silver, palladium and platinum are the metallic focal points of most bracelets, rings and necklaces. Professional refining processes can boost the durability and aesthetic appearance of these metals, which will make them more valuable on the open market.

Refining companies typically specialize in saving precious metals from heading to the regional trash heap. Professionals can separate metals from old circuit boards, auto catalysts and other electronic scrap items. The small amounts of gold and silver are then recycled and used again within the industry. Because there is a fairly limited supply of precious metals, refining allows the elements to stay in circulation so that customers can enjoy them in jewelry pieces of all styles and textures.

Armed with the precious metals you need to craft lovely items, you can begin putting your skills to work. Diamonds, sapphires, rubies and emeralds can be affixed to metallic matrices. You might even choose to manufacture special lockets that customers can wear around the neck as keepsake items. A specialized precious metal refining service will give you the tools you need to expand in the field going forward into the future.

Our Anti-Money Laundering Practices

Money laundering is a serious societal problem, and it's vital that jewelers and companies that work with precious metals take strong action against it. To define the term, a business launders money whenever it accepts and uses funds that were obtained illegally. Jewlers Refining Group, Inc., is very concerned about these issues.

If criminals acquired money through, for instance, drug trafficking, they would have a difficult time using that cash as banks wouldn't accept it. However, if a company were to take that money and process it ― whether intentionally or not ― those funds would become "clean." Thus, that currency would reenter circulation.

Since 1970, federal U.S. law has categorized precious metals dealers as financial institutions. Furthermore, since 2006, the law has required that all such organizations operate anti-money laundering initiatives. For such a program to be effective, an institution must demand certain documents from its clients before completing any transactions with them. Those documents need to include the legal names of those businesses' owners. The financial institution can then look at government databases to verify that none of those people are known criminals, terrorists, or financial supporters of terrorism.

That documentation must also detail the client's business activities. Indeed, precious metals dealers must know why an applicant wants to purchase, for example, a significant quantity of gold. Likewise, it's important that dealers refrain from buying any precious metals if they don't know where those materials are coming from. Without such preventative measures, a dealer might end up assisting a criminal or terrorist enterprise. Lives are certainly on the line.

Assisting You with Metal Bullion

Traditionally, it’s a great idea that keeping your precious metals, such as gold and silver, allows you to properly keep your metals separate. This gives you a better idea of how much your metal is worth. The team at Jewelers Refining Group, Inc., understands your needs and is able to help you with metalbullion. Before we get into what we do for you, let us tell you a little bit about bullion. 

The word bullion is French and it means boiling, which is appropriate as you are boiling metals down to their purest state and making them into coins and bars. Bullion is normally traded on commodity markets and its value is determined by the purity and mass of each bar or coin. Many investors like to invest in bullion, as it hedges against currency risk. The value of this metal is typically more stable than other investments. 

When you come to us, you can have us make bullion from sweepings and grindings. We have a wide array of recommendations for you and your business. If you have any questions about what we do with bullion, you can read more about metal bullion on our Website, call us at (212)398-2569, or email us today at lee@jrginc.com.

Let us Assist you with Precious Metal Recovery Services

Precious metals are increasingly scarce, but the demand for them is higher than ever. Metals such as gold, silver, and platinum are still widely used in jewelry, but they are now also used in electronics, computer components, and industrial chemicals. Recovering precious metal is important for keeping the supply steady and can also be an excellent business venture. Whether it’s recycling gold and silver from jewelry or stripping precious-metal components from computer systems, precious metal recovery is an industry on the grow.

Beyond gold, silver, and platinum, a host of other metals can also be recovered. These metals include:

• Palladium
• Rhodium
• Iridium
• Osmium

Most of these less well-known metals are used in high-technology applications, and they’re especially valued for their anti-corrosive properties. Harvesting these metals can be somewhat dangerous and should only be done by trained technicians in a specialized setting.

Recovering precious metals is good for the environment, too. Electronics recycling is great for eliminating toxic scrap, and it also reduces waste in landfills. Recovery rates for precious metals are still low in the United States, but as electronics become more integrated into our lives, recycling will become not only profitable but necessary. Precious metal recovery is a field with a bright future, and now is an excellent time to get started or refine your skills.

Is Your Company Washing Gold Down the Drain?

Each day, many jewelry manufacturers flush gold and other precious metals down the drain. This frequently occurs when polishers wash their hands. Metal particles can be found in tumbling water and ultrasonic cleaning fluids as well. Wastewater may contain substantial amounts of gold; we discovered that a factory in New York was releasing over 3.5 ounces per week. That's no different than throwing away $250,000 every year! Metals in this water can also harm the environment and trigger government fines.

This problem remains quite common, even among manufacturers that use settling tanks. Ultrasonic fluids often prevent such tanks from working properly. These detergents cause gold and silver particles to float instead of falling to the bottom. Fortunately, it's possible to prevent this from happening. Factory owners may install separate equipment that collects and processes ultrasonic cleaning liquids. In addition to recovering metals from the used detergent, this strategy enables settling tanks to perform much more reliably.

It's very difficult to filter ultrasonic solutions; special equipment, training and chemicals are necessary. However, many jewelry manufacturers find that these investments quickly pay off. They can comply with state environmental regulations and recover at least 90 percent of the precious metals in their wastewater. Our company helps businesses that need effective gold refining and recovery systems. To learn more, please contact Jewelers Refining Group today.