What Happens With Scrap Gold?
A lot of people are asking me the question “What happens with scrap gold?”
The first step is to bring your scrap gold to a place like Tecumseh Gold Exchange. We can recycle your scrap gold a few different ways.
At Tecumseh Gold Exchange we purchase good condition jewelry, we recondition them to make it look like new, and we try to resell it. Broken pieces and dental gold in most cases is sent to be melted at the refinery. The refined or pure gold is then made into casting grain that is used in the jewelry business to make brand new jewelry or gold items used in electronics. Refineries like Royal Canadian Mint or Johnson Matthey also mint bullion coins or bars that are later introduced to the stock market or banks for investment purposes and collectors.
Most people don’t realize but on a smaller scale jewelers or goldsmiths sometimes melt gold and begin making brand new jewelry locally. Talented goldsmiths can make one piece of jewelry into another. Many pieces of gold jewelry you buy brand new were once pre-owned. Recycling gold has been a part of society for many years now and it plays an important part in our everyday live.
No matter how your old gold is processed, and where it ends up, it is extra cash in your pocket when you bring it to Tecumseh Gold Exchange. We pay top dollar so stop by soon.
Here is an RCM video on largest gold coin!!
By: Andy Nowicki @ Tecumseh Gold Exchange