Using Gold Refineries

Gold Prices Higher Than Ever

Prices of gold are at record highs, giving individuals the option to invest and earn extra income. Gold refineries pay high prices to those who are willing to sell old jewelry, scrap metal, fillings, and other pieces of gold.

Gold Refinery

Image Courtesy of Mykl Roventine via Flickr

How Refineries Work

The refining process is necessary in helping old pieces of gold turn shiny and new. This requires high heat, mixed with chemicals to test whether the gold is pure. Since gold is so soft, it typically has to combine with another metal to give it strength and durability, as well as maintain its shape. During this step of the process, the gold may be tinted another color based on the metal used. For example, ever-popular white gold is usually a combination of yellow gold and either palladium, nickel, or silver. Newer colors that are increasing in popularity include pink and red, an alloy mixed with copper, and blue, a mix of yellow gold and iron.

Karats of Gold

The highest karatage for yellow gold is 24 karats, which means that it is pure gold. Depending on the desired use of the gold, the number of karats varies based on how hard it needs to be, as well as how much the individual wants to pay.

Plenty of Uses for Gold

Gold is a widely used metal that is desired by people all across the world. Most fine jewelry is made of high karat gold, and the brilliant shine is visually appealing. It is also used in some foods and liquors, as well as in dental fillings and crowns, and some medications. Some scientists link gold particles from the sun as a tool in pollution reduction. Regardless of the use, gold is a great source of extra cash as prices continue to rise.