As with any commodity, the price of gold is driven by various factors like supply and demand, inflation, interest rates, geopolitical tensions and more. While daily spot prices may shift, gold has maintained a high value throughout history as a rare material that’s closely tied to our monetary system.
Even the relatively small amounts of gold contained in dental scrap – such as crowns, bridges, PFMs, inlays and more – can add up. And with gold’s current prices (above $3,000 per ounce!), just a few pieces of scrap could be worth a pretty penny.
Dental professionals have their plates full between patient care and the daily demands of running a practice. This is why selling extracted precious metal scrap is usually an afterthought. While scrap refining is by no means a primary source of income, it’s still a great way to boost profits. And if you’re going to sell your scrap, why not get the most bang for your buck? After all, nobody wants to turn down extra cash.
Getting the Most For Your Dental Scrap
Many of the alloys used to make dental fabrications contain gold and other precious metals like silver, platinum and palladium. In fact, a single piece of scrap will often contain more than one precious metal. Precious metal refineries like Garfield Refining help dentists, dental assistants, DSOs, and dental laboratories sell their extracted or unused material to generate extra revenue.
Unlike cash buyers who typically use the “weigh and pay” or “pay per crown” methods to calculate payments, a reputable refinery will perform an assay – a scientific procedure used to test metal purity, which often involves melting the material – to evaluate the exact composition. This ensures you’ll obtain maximum value from all of the precious metals in your scrap, not just the gold.
Beware of “Weigh and Pay”
Jewelers, pawnbrokers, and other gold buyers trust refineries like Garfield for a reason: we’re the final stop in the gold-selling chain. By cutting out intermediaries who add extra fees, we provide the highest possible payouts. On top of that, our 100+ years of expertise and cutting-edge technology ensure maximum yields and precise assays. By extracting every last bit of precious metal from your scrap and performing the most accurate evaluations, we’re able to provide you with the most for your metal!
Some buyers may offer to pay in cash on the spot for your scrap using the “weigh-and-pay” approach. Red flag! This process involves simply weighing the material to make a rough value estimate, meaning you’ll end up with a fraction of its worth. “Cash for gold” stores, pawn shops, and online gold-buying services will eventually go on to sell your scrap to a refinery, keeping most of the profit.
Finding a Trustworthy Refinery
Always sell your dental scrap to a refinery that specializes in precious metals. Companies who dabble in dental scrap refining but aren’t fully dedicated to precious metals might be underpaying for your material, as they’ll likely have other business operations that they’re more heavily invested in.
Be sure to check the refinery’s online reviews, website, and social media accounts to verify that they’re an authentic, trustworthy business. Bonus points if they’re already well-established in the dental industry.
Garfield Refining, for example, has been a leader in dental refining for decades, serving dentists across the U.S., Canada and Australia. In fact, we’ve been voted ‘Best Scrap Refiner’ by Dentaltown Magazine for the past 14 years!
Garfield gets dentists like you the most for your gold, silver, platinum and palladium. To get started selling your scrap, download a free shipping label today!
If you’re an individual looking to sell a single cap or crown, we’re happy to help – learn more and get started today!