07 Aug How do I maximize silver scrap refining returns?
Getting the most out of your silver scrap reclamation returns at a silver refinery requires close attention to informed measures and prudent attention to detail.
Know the content of your silver scrap
The first step in the silver refining process is obtaining a thorough understanding of the metal. Minute amounts of silver are used in nearly every electronic device, in coins and medical tools and equipment. The metal resists oxidation and corrosion, is an excellent thermal and electric conduction, possesses anti-microbial properties and is highly malleable for use in sheets and ductile for use in wire, and it’s the best metal conductor, outclassing gold and copper.
Silver in electronics is 99.99 percent pure. The metal is found in switches of all types, in-house lights, microwaves, cars, consumer electronics and industrial switches.
The metal is also used in jewelry, photography, in lotions, in mirrors, glass, and in photovoltaic panels.
Knowing where and how silver is used, the material you’re dealing with is the first step in making sure you’ll get the best return from your silver scrap at the silver refinery.
Silver refining isn’t the part of the silver refining process most sensitive and prone to theft. Valuable silver scrap is vulnerable to theft long before it reaches the refiner.
To avoid losing your property and investment, you need to take an accurate, realistic inventory and have a reasonable expectation of what your silver scrap is worth, and choose a secure place to keep it:
Sort your metal scrap by type, component, or according to criteria that make sense for your business.
Secure your assets. Once you know what you have, you need to spend a little time making sure it’s safe. Store the metal scrap you intend for the silver refinery behind locked doors.
Use mass balance, measurements and historical data to determine what your likely return is, and let the silver refiner know you’re working with that estimate. Resolve discrepancies between estimates and returns immediately.
Ensure trustworthy supervision
It’s best to oversee the silver refining process yourself. If you’ve got to delegate this task, make sure you choose someone who has proven to be honest over the long haul.
Inspect the silver refinery to make sure no metal is in the machine before the process continues, and no metal is left behind. Don’t let the scrap out of your sight during the process.
Require immediate payment. This will ensure the metal won’t leave your supervision while you’re with the silver refiner.
Following these steps, you’ll work through the silver refining process knowing what you’re dealing with, armed with the information and precautions that will ward off misunderstandings and mistakes. Your silver refining process approach will maximize your returns.