So we’ll be very upfront about this – the precious metal scrap refining industry, has a…how shall we put this….less than stellar reputation among the dental industry. And with the advent of Cash 4 Gold sites and refineries who estimate the scrap value, who could blame people for feeling a little dissatisfied with the refining industry?
Well, today I will let you in on a little secret – there are good dental refineries out there. Yes, they really do exist. The challenge is finding them.
The Hunt Begins.
I would love to say that we could just shop around, compare prices, and voilà! You have your solution. Unfortunately, it’s not so simple with the refining industry. Yes, the percentage quoted or the price per ounce will give you a good idea if the prices are in the ballpark, but there are other factors.
Fees and Minimums
Some refineries have extra charges based on the amount of scrap sent, the type of scrap sent, and extra fees for particular services (for example: an assay fee).
The Elephant in the Room
When you send your dental scrap to a refiner, you are placing your trust in them. You trust that they will keep your scrap secure. You trust that they will perform the most accurate processes possible. And you trust that your payment reflects the true value of your scrap.
How Can You Find These Trustworthy Folks?
First, check out how long they’ve been around. Have they been serving the dental industry or do they specialize in other areas? If the company started up recently (many started around 2010 – 2011 to take advantage of the high metal prices), proceed with caution! You want a company with a proven track record.
Test ‘em Out
We feel this is one of the best ways to compare refineries. Take your scrap and split it into two equal piles. Send one pile to one refiner and the other to a different one. The key here is not to tell them that you are testing them out. If you do that, they may inflate the result to gain your business and you may find the results on your next lot to be significantly lower.
A second way to test a refinery takes a little more preparation. You can only do this if you refine on a regular basis and keep careful records of your returns. When you have a year or two of records ready, send your next lot to the refiner you want to test out. See how the results from the new refiner compare to your old refiner. Again, don’t tell them that you’re testing them.
And there you have it. A little legwork, and you’ll find those trustworthy folks and reap the rewards with higher returns-.
Ready for a test run?
If you’d like to give us a try, just request a shipping container. It will arrive with a preprinted FedEx label for free, insured shipping of your dental scrap.