Did you know that dentists typically retire later than the average American? As with many major milestones, people say retirement is bittersweet. It’s a huge accomplishment that brings opportunities to enjoy life in new ways, but winding down a longstanding practice can also be stressful. Retiring dentists are faced with important decisions about how to transition out of the business. And among all of the details, there may be a collection of precious metal scrap to deal with. That’s where Garfield Refining comes in! Whether you’re a retiring dentist or the heir of some dental gold, recycling your scrap should be simple, easy and lucrative.
Gold in Dentistry
Although it’s becoming less common than before, gold is still used in dentistry today – especially in clinical scenarios where the durability of a restoration is more important than a natural aesthetic (for example, repairing a molar). Gold and other precious metals like platinum and palladium are used in dental crowns, bridges, PFMs, inlays/onlays and more.
The value of gold-containing dental material can range widely, but even a small collection of scrap may hold significant value (especially with today’s gold prices: $2,900+ per troy ounce)!
Keep in mind that all gold-containing scrap isn’t necessarily yellow in color. White gold alloys are common as well. Plus, many dental alloys also contain other precious metals like silver, platinum and palladium – all of which are valuable!
Dental Gold Scrap Collections
While some dentists refine their scrap on a regular basis, others accumulate extracted crowns, bridges, PFMs and more throughout their career, and may end up with a sizable collection on their hands. If this sounds like you, you may be in for a hefty payout – the older the dental alloy, the more likely it is to be high-noble content (i.e.: it probably has more gold in it!).
Dental lab owners may also accumulate significant amounts of precious metal scrap from the various prosthetics that they create and repair throughout the years. Selling a collection of gold scrap can provide a helpful source of extra income during the retirement transition.
Selling Gold Scrap as a Retiring Dentist
Whether it’s best to cash in on your scrap before or after retirement will depend on your unique personal and financial needs. But regardless of when you sell, there are many ways to use precious metal profits to your advantage.
Many dentists choose to use their precious metal cash to give back by donating to a non-profit or charity. There are many organizations dedicated to providing dental care to those in need, including the AGDF, Global Dental Relief, Dentaid and more. Putting metal proceeds towards a good cause could make retirement all the more fulfilling.
Inherited Dental Gold
What if you inherit a dental practice or lab, and find yourself with a sudden windfall of precious metal scrap? Inherited dental gold is interesting because it’s hard to gauge how much it’s worth. Unlike other forms of gold (such as coins or bars), the value of a dental scrap collection is unknown until the metals are refined and tested for purity.
Refining Inherited Gold Scrap
When it comes time to sell your inherited scrap, precious metal refineries like Garfield Refining make it easy to extract the maximum value. In fact, we’re the industry benchmark for the highest payouts and best customer service – we’ve been voted ‘Best Refiner’ by Dentaltown Magazine for 14 years straight!
If you’d like to hold onto some gold or other precious metals as an investment, we offer the option to exchange the value of your scrap for bullion. Swapping dental gold for bullion is a smart move because you’ll end up with an asset that’s easy to liquidate should metal prices appreciate. It’s much more convenient to have pure gold bullion with a finite value than a pile of scrap with an unknown value.
A reputable precious metals refinery like Garfield will provide the highest payment for your material. Steer clear of pawn shops and ‘Cash for Gold’ businesses when selling your scrap, as they don’t have the tools to refine and properly test for purity. This means that they cannot provide an accurate valuation or a fair payout. Non-refinery gold buyers will appraise your material at an extremely conservative price and then sell it to a refinery like Garfield in order to profit. Cut out the middleman and get the most for your gold!
Whether you’re a retiring dentist or have inherited dental gold, we’re here to help you obtain the highest value from your gold scrap. Our award-winning refining services have been recognized by leading dentists for over a decade. Download a free shipping label to get started today!