In the dental industry we use Platinum foil for some processes,
but it is .999 Plat. We send our trimmings back to the supplier
and they replace it with new material for a small fee. I deal
with J.M. Ney.
Recently, I sent a package of 280 dwt of bench waste and filings
off for refining. This last year my platinum use has increased by
about 700%. I’m not turning out that much more work, just not
taking in very many jobs for white gold. I have always had some
difficulty recovering platinum as there is a premium charged and
I usually never send waste that is more than 5% platinum. In this
case, I sent the metal to a large house that I thought could do a
better job recovering my metal. I burned the filings, and
previous experience has suggested a reduction in weight of 25%
and a yield of 60 precious metal from the ingot. I expected a
return on the 280 dwt of about $ 2,200 to $ 2,400. I was offered
$ 900. When I protested, I was offered another $ 350. This was a
company that has treated me well with gold recovery in the past.
After this experience, I am convinced that I need to start
refining my own metals.