The Surprising Benefits of Gold Recycling: Facts & Figures

What is gold recycling?

Gold recycling is the process of removing gold from old jewelry, electronics and other items and then reusing the metal in new items. The recycling process can be used to reclaim valuable metals like gold that may otherwise be thrown away in landfills. Gold recycling is often done to deal with the effects of gold mining and waste disposal on the environment.

The process of gold recycling

The process typically involves the following steps:

  •         Collection: Collecting used or waste gold is the initial stage in the recycling of gold. This can be accomplished using a variety of materials, including antique jewellery, electrical debris, and industrial waste.
  •         Sorting: Based on factors like purity, weight, and other attributes, the gathered gold is divided into many groups.
  •         Sampling: The actual composition of the gold is ascertained through analysis of a small sample of the metal.
  •         Smelting: To get rid of any pollutants or impurities, the gold is melted in a furnace. The goal of this process is to increase the purity of the gold.
  •         Refining: The gold is then further refined to remove any impurities using various techniques like electrolysis or chemical processing.
  •         Casting: The refined gold is then cast into bars, coins, or other shapes.
  •         Final product: The result is a high-quality gold item that is prepared for usage in a variety of contexts, including jewellery and electrical parts.

Benefits of gold recycling

Cost savings: Recycling reduces the amount of new gold that must be mined, which means less pollution and fewer man-hours spent mining.

Security: Gold recycling helps protect our environment from environmental damage caused by mining. It also reduces the amount of money spent on security measures at mines.

Environmental benefits: As mentioned above, gold recycling helps protect our environment from environmental damage caused by mining. It also reduces the amount of money spent on security measures at mines.

Reduced toxicity: Gold recycling reduces toxic waste and prevents mercury contamination during mining operations.

Pawnshops vs. Online gold buyers

Pawnshops: Pawnshops are usually located in populated areas and are easily accessible. Pawnshops usually have a professional on-site who can appraise the value of your gold. Often pay less for gold than online gold buyers because they have overhead costs associated with running a physical store.

Online gold buyers: Can be accessed from anywhere with an internet connection. Offer fast payment, often within 24 hours of receiving the gold. Professional appraisers who can accurately determine the value of your gold.

Ultimately, the choice between a pawnshop and an online gold buyer will depend on your personal preferences, the value of your gold, and the speed at which you need the money. 

Why Sell Your Gold to Instant Gold Refining

If you have a large amount of gold or silver scrap, call us today to book an appointment. Instant Gold Refining can process scrap jewellery, dental scrap, silver houseware/cutlery, bench filings, placer gold/nuggets and more. Instant Gold Refining seeks to provide competitive rates with some of the fastest turnaround times in the industry. With close to 15 years of experience in the Precious Metals industry, our values of efficiency and transparency are the reasons why businesses across Canada choose to deal with Instant Gold Refining.

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