What are precious metals? 

Precious metals are becoming increasingly indispensable and difficult to resource in today’s industry. Precious metals are used in countless tools and utilities in day-to-day life, where their use is unnoticeable, yet it is necessary. Platinum, gold, aluminum, and palladium are all precious metals that may be found in LED light bulbs, jewelry and most importantly electronics. Whether it’s your phone or an electric car, all are powered by precious metals.  

Precious metals once were an essential part of the global economy, but today they are mostly used as a financial asset. There is a growing demand for recycling precious metals as they are becoming difficult to source. 

Why recycle precious metals?

The extraction of precious metals has a great impact on the environment. Precious metals are a non-renewable resource that takes a substantial amount of energy to extract. 40% of the world’s carbon emissions are caused by extraction industries. Extraction industries have also caused 10% of all biodiversity loss. 

As extraction takes a toll on the earth’s environment, precious metals are becoming difficult to find. Their scarcity is causing their prices to rise while material extraction has tripled, causing more impact on the environment. The precious metals like palladium that are mostly used for cell phones and other electronic devices are a necessity for today’s society. The demand for precious metals is ever-increasing, making it difficult for the extraction industries to dial back extraction and its impact on the environment. Though, there are more ways to access precious metals. 

Recycling precious metals puts unused metals back into circulation while reducing the need for extraction. When precious metals are recycled, it diminishes the waste of scrap metal and assists in meeting the demand for precious metals. Precious metal recycling companies are dedicated to proper precious metal recovery and redistribution. Recycling companies reclaim precious metals, evaluate the metals to assign a monetary value. The companies then pay their source of the precious metal the evaluated monetary amount. 

Precious metal recycling companies are the resource necessary to meet the precious metal demand in a safe and environmentally friendly manner. The companies’ use never diminishes, as recycling precious metals does not degrade their properties. Metals can be recycled multiple times over while never losing quality and fulfilling their new requirements for every new use. 

Precious metal recovery 

Precious metal recycling companies recover precious metals in many different ways. There is a lot of waste that comes from product manufacturing. There are often inventories of products made with metal that are no longer in use. These products and metal scraps no longer serve the manufacturing company but can serve a new purpose once recycled.

Precious metal recycling companies

Precious metal can be recovered from the manufacturing companies, and can also be recovered from customers that are looking to trade their unused precious metals for money. Metal recycling companies usually have types of metal and recyclable products that they specialize in so that the recycling process for each type of metal is handled in a specialized manner. . 

When a precious metal recycling company receives metal scraps or other various pieces of precious metal, they are first analyzed. 

Precious metal recycling companies first do a full analysis on the received metal so that the properties of the metal are fully understood, and there is an accurate monetary value placed on the metal-based. on market prices. 

How are precious metals handled? 

The metal goes through a long process of recycling after the precious metal recycling companies recover them. Once the metal is analyzed, it can be sorted and separated to put like-metals together. This is usually done with a magnet for efficiency. Then, the metal gets processed. The metal is finely shredded to enhance the rest of the recycling process. It also saves energy when the metal is shredded. 

After shredding the metal, it is time for the metal to be melted. The metal is put into a large furnace so that it is brought to the right temperature for the metal to melt. Many furnaces are designed for each specific metal. Once the metal is melted, it is purified. 

The purification process for metals is most commonly done through electrolysis, where an electric current is used to separate the metal from its impure components. Purification of precious metals heightens the value of the metal and its quality for it to be used in another product. 

The metal is then solidified after its purification. The melted metal can be cooled and brought to a temperature so that the metal is solid again, and is usually shaped into bars. These metal bars can be transported to be brought into a new product manufacturing process. 

Where to find precious metal scrap 

Precious metal scrap is usually found in scrap yards or the scraps from manufacturers, but there are many precious metal scraps hidden in plain sight in day-to-day life. Precious metal is often used in the production of computers and computer equipment, old cell phones, game consoles and many other electronic devices. There is a high probability that many households have these products that are no longer in use. This collection of unused precious metals is called an “urban mine.”

Retrieving these unused precious metals can contribute to the diminishing need of extracting precious metals from the earth. Older devices like computers may hold metals like gold that can be of value to recycling companies and can be traded in for currency. 

Searching for “precious metals recyclers near me” 

To bring the precious metal scraps back into circulation, and to reap the benefits of recycling precious metal, it is important to find the right precious metal recycler. Finding a precious metal recycler that is geographically close isn’t as necessary as one that fits the customer’s needs and values. 

Precious metal recycling plants can emit pollutants that might be better to live farther away from. Though, researching recycling companies can show which ones accept shipments, and which types of metal they accept.  

Researching different recycling companies can also show if they are an honest company, whether they are prompt with payment, has clear communication and documentation. 

It is important to note if the company is environmentally responsible. A precious metal recycler should enhance, rather than counteract, this helpful step towards being environmentally friendly. 

Majestic Corporation has been a leading precious metals recycling, non-ferrous metals and Catalytic converter provider for around three decades. With a presence in the United States, United Kingdom, Malaysia, Italy, Mexico, Australia, Hong Kong and more, as well as a network of precious metals refineries around the world, we work with major customers and partners in a transparent and discrete manner and only offer the highest quality services at competitive prices. 

Contact us here for more information.