21 Mar Five Reasons Why You Need to Recover More Platinum
Securing lower up-front fees for recovering your platinum and other precious metals sounds like a no-brainer. Who would want to pay higher up-front fees?
However, the dirty little secret is that the difference is made up in your metal recovery. You pay less up front, but you recover less metal.
If this were an even exchange, then this whole discussion wouldn’t matter to you. But it’s not an even exchange. The amount and value of metal unrecovered for you is a huge X factor. What weight of metal is unrecovered? What is the daily value of that metal? How often are you shipping metal for recovery to this company? Over time, how much have you lost?
The amount of money you are losing can be staggering. So here are 5 reasons why you need to choose your precious metal recovery company based on how much metal they recover for you and not on their up-front fees.
#1 Recovered Value Is Greater Than Savings
The value of the increased volume of platinum recovered more than makes up for savings on up-front fees. Hiring a refiner building its reputation on making sure you’re not letting valuable metal go to waste is the shrewd choice, since there’s more money to be made on recovering larger quantities of precious metals than by saving on up-front costs, such as fees.
A load of 2,000 catalytic converters could yield 6,000 grams of platinum, assuming at least three grams of catalyst per converter. The average yield is 3-7 grams, depending on the manufacturer. A one percent error in the recovery process could cost you 60 grams of platinum, or $1,571.40 at today’s value of the precious metal. That loss is compounded by the average predicted loss in dismantling, collecting and de-canning, the process cutting away metal encasing the precious metals, but it’s your last chance to control losses. You’re better off working with a refiner focused on the process instead of the fees.
#2 Platinum Demand Is Growing
The world jewelry market is creating an increased demand for platinum. In the U.S., platinum is becoming a more popular option for bridal jewelry such as wedding and engagement rings. The metal is very resistant to scratching and doesn’t tarnish, allowing a silvery look without the drawback of frequent upkeep.
Platinum Guild International predicts a strong year for platinum sales, growing 8 percent to 10 percent. The trend is mirrored in India, with platinum use increasing 25 percent, and in Japan, where demand is expected to increase a bit slower at 1-2 percent.
#3 Value of Platinum Is Stable
Platinum is fashionable regardless of market forces. Set aside the silvery metal’s current popularity among jewelers and their customers, and you’ll see platinum was in demand as a stylish fashion statement long ago.
Platinum was used by the Egyptians as early as the 1200s, but it slowly gained popularity as a material in jewelry following its discovery by Europeans as early as 1557. Around the year 1780, platinum jewelry became very popular at the court of Louis XVI of France and since then has remained a favorite material of the wealthy. In fact, during World War II, the U.S. government had to ban the use of platinum in jewelry to conserve it for use in the war effort.
#4 Platinum Represents an Excellent Value
Given platinum’s strength, purity durability and rarity, the metal is highly valued, making waste in the refining process more costly than one might realize. In the U.S., most platinum is also about 90 to 95 percent pure. Compared to 18 karat gold, for instance, which is only 75 percent pure, platinum matches up very favorably. Which means every ounce of metal left behind is of tremendous value to you.
#5 Platinum Is Versatile
Many electronics – from televisions to appliances to computers, phones and cameras – carry small amounts of platinum. The metal is used in minute amounts in medical devices, such as pacemakers, implantable defibrillators, catheters, stents and neuromodulation devices. The material is also used in cancer-fighting drugs such as cisplatin and carboplatin.
QML Inc. is dedicated to getting the highest return of platinum out of your scrap, so you can reap the monetary benefit every time we process your shipment.
Call now to arrange for a free assay of a sample of your materials: 888-424-6781
Also, learn more about How to Maximize Your Precious Metals Recovery in our FREE guide.