Refining settlement fee charts

Jewelry Discussion
1

Hi,

I have finally gathered enough gold and silver scrap to have it
refined. Though I feel I have a lot of scrap, it turns out my
quantities are low compared to the large manufacturers out there.

I would love recommendations for refiners. So far I am considering
gsgold.com, david fell, and hoover and strong. I am also finding the
settlement fee charts confusing… I would like to get the highest
settlement possible.

Thanks in advance for your advice and recommendations,

Laurie
sweet tooth designs, inc.
sweettoothdesigns.com

2

i’ve used pmwest for bench sweeps and clean scrap for almost 20 years
and have never had a problem 1-800-999-plat - goo

3

I have only sent metal to be refined once, and only silver (I’m happy
to say, I did it at pretty much peak price!) I sent it to Hoover &
Strong because of recommendations here and because I buy from them.
It all went quite smoothly, but I made a stupid mistake, si I’ll fess
up to save others. I forgot about the difference between ounces and
troy ounces. I had 100 ounces, which gets you a higher rate of return
than a lesser amount. However, I did not have 100 troy ounces, so I
got 10% less value back. I could have looked around for a bit more
scrap and made up the difference if I’d thought of it. This cost me
about $120, I think, maybe more. Grrr.

Noel

4

Hoover and Strong- enough said…trust, highest return,honest and
friendly service people…and if no assay is required then your return
is 100% make certain there is NO solder on anything or assay will
happen, however there is a fee which if it’s your first exp. with H&S
offers a 10% discount (coupon in catalogue) on refining…straight
settlements ( a serialised bar from Englehard for example) requires
zero refining or assay… rer

5

I have to second Hoover & Strong. I have been dealing with them for
over 20 years and they are the best!!

mike in arizona
www.azbeaddepot.com

6

The last time we sent metals to Rio we used USPS priority mail, with
delivery confirmation and insurance. It was about 2.5 kilos, mostly
silver, and it never arrived at it’s destination. We filed a mail
theft report and the insurance paperwork, but the problem was there
was no way to prove what was inside the package and its worth without
some kind of invoice or reciept. Obviously there is no invoice or
reciept for scrap until it is refined, but considering our
predicament, Rio very kindly provided an estimate of the price of the
metals inside the box on an official looking letterhead and we
submitted it with our insurance claim. To our great surprise, 6
months later we got a check for the full amount. I know many people
have not been so lucky with insured mail.

I guess my point is be careful not just where but HOW you send your
scrap. Mail carriers who deliver to precious metals refiners know
when they get a small heavy box it could be full of gold or silver.

We have a bunch of scrap again now and we’re procrastinating on the
refining because the last time was such a nightmare. Besides
recommending hoover and strong for refining what is the safest way to
send scrap (or other valubles) in your opinions?

Thanks, Douglas.

7 
The last time we sent metals to Rio we used USPS priority mail,
with delivery confirmation and insurance; it never arrived at it's
destination.

When I sent in several pounds to Rio last summer, they told me to
address it to the returns dept… I insured it and wrote “damaged
materials returned for repair” on the insurance slip. I sent it via
one of those Post Box Plus places and it arrived with no problems.
Guess I was lucky, but I’m glad did ask ahead of time what to say on
the label. I took digital photos of each batch on my scale before
packing it up, although that probably wouldn’t have proved anything
for insurance purposes. At the price of metals now, when I have
enough to recycle, I think I’d drive it to Richmond (2 hours away)
and hand deliver it!

Donna in VA

8

There are reputable refiners that will pick up scrap from your
location. If you send it in; you use their FedEx number with their
3rd party insurance. Personally I have never had an issue.

Ivan Sagel
www.wyzensageldesigns.com

9

Douglas you did not say what state or area of the country you are in.
Some refiners, (United Precious Metals particularly, 1-800-999-fine,
ask for Dave Zimmer) have trucks that travel around the country
picking up refining lots on a yearly basis. You can schedule a pick
up and not have to worry about the mail. Check with your refiners.
(usual disclaimer goes here)

Frank Goss