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Palladium Price Surges Past Gold--Now Is the Time to Recycle Dental Scrap

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With prices for refined Palladium surging past $1,500 per ounce, dentist's need to ask, "Am I Getting Enough for My Dental Scrap?"

PHILADELPHIA - March 15, 2019 - eTradeWire -- Palladium, a precious metal commonly used to create dental crowns and bridges, recently surpassed gold as the highest-valued precious metal found in dental scrap. In March 2019, the price of palladium exceeded $1,500 per ounce, marking a nearly 65% price increase in under a year.

Palladium is a platinum-group metal that is a byproduct from platinum and nickel mining. Used in dentistry since the 1970s, and known for its scratch resistance and non-corrosive properties, palladium quickly became a cost-effective alternative to gold and platinum in the production of crowns and bridges.

In addition to its use in dentistry, palladium is also used in the automotive industry to purify toxins from vehicle exhaust systems. Tougher environmental regulations in China and Europe have increased its use in the manufacturing of catalytic converters. As a result of increased manufacturing need, low mining outturns, stockpiling, and speculation, demand for palladium is significantly out-pacing supply and driving prices to record highs.

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This is all good news for dental practices looking to recycle their dental scrap, as payouts should be higher than ever before. To capitalize on this added value, dentists should recycle their material with a reputable refiner that specializes in evaluating and assaying precious metals. Assaying is the process of melting and analyzing a metal's composition, and is the only definitive and accurate way to determine value.

Conversely, in-office cash-buyers typically provide only a per-gram value based solely on only a visual inspection or "acid test", which will not properly account for contained palladium. Missing out on palladium could cost a practice thousands of dollars in missed income.

To get the most value for its scrap material, dental practices should deal directly with an actual refinery that has the necessary equipment and expertise to assay the material for both gold and palladium. A valuation based on scientific analysis, rather than speculation or a conservative visual estimate, is the only way to get accurately compensated for contained precious metals. For larger practices and DSOs, the right refinery can help you streamline and consolidate scrap refining, leading to additional revenue that can be used to fund capital improvements and other business goals.

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Garfield Refining Company has been assaying precious metals for over 126 years. With over 200 years of combined experience, the professional refiners at Garfield can break down, evaluate, and melt the precious metal with cutting-edge technology and industry-leading techniques.

To request your own collection container, call 800-523-0968.

About Garfield Refining Company: Garfield Refining Company was founded in 1892 in Philadelphia, Pennsylvania. Family owned and operated, Garfield buys, melts, and assays precious metals like gold, silver, platinum, and palladium. Garfield Refining Company has received an A+ by the Better Business Bureau. To learn more, call 800-523-0968 or visit the official website at http://www.garfieldrefining.com/ (http://www.garfieldrefining.com/).

Garrett Ettinger

Source: Garfield Refining Company
Filed Under: Jewelry

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