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Refine ProcedureSCRAP PURCHASESShipments of scrap of a known grade are figured on an “as is” basis. Small shipments of scrap gold, either stamped jewelry or pieces large enough to efficiently test with acid individually, are bought on an “as is” basis. A check is mailed to you either the day it is received or the next day. Small lots of filings and clippings too small to offset the minimum refining charge are melted into a button. Then, the melted button is acid tested to determine the karat. All scrap purchased using this method are held for an approval period pending customer evaluation. At your request larger lots may be handled this way when a quick return or current market is a priority. THE REFINING PROCESSLots containing scrap and waste of unknown metal content that require refining or assaying to determine the metal content are processed as a refine job lot.
REFINE SETTLEMENTUnless notified in advance of settlement, Hauser & Miller will return a check for the value of your refine lot. You may also choose to credit your account or for a return of metal. Metal is returned in the following forms:
Note: Returns in fabricated or alloyed forms are processed as a purchase of the refined metal. The value of your lot is credited to your account for that purchase. |
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| Phone: (800) 462-7447 - Fax: (800) 535-3829 - E-Mail: support@hauserandmiller.com |