Refining of precious metals is a special purification procedure. Precious metals can be subjected to it in the following form:
- technical scrap containing gold;
- gold in concentrate form;
- scrap jewelry;
- residues after electrical cleaning procedures;
- so-called “silver foam”;
- concentrates from deposits, etc.
The procedure for obtaining refined metals consists of preparation stages, which necessarily includes the process of grinding, roasting and fusion with zinc.
Refined gold
As an alternative to classical methods, electrolytic or chemical purification methods can be used for gold refining.
To obtain refined yellow metal, the chemical method is used mainly in jewelry. The method involves soaking dirty gold scrap in chemicals. Most often, iron sulfate or its sulfate is used for this. Such reagents are non-toxic and cheap, which allows them to be used even at home. The consumption of a solution of the substance to obtain 1 gram of gold is from 10 to 12 milliliters.
Sometimes jewelry makers use iron sulfate together with “aqua regia,” in which precious scrap is already dissolved. But this method is associated with losses of gold, which cannot be recovered 100%.
The best method for obtaining refined gold metal is the procedure of evaporating nitric acid in a special porcelain tank with alternate addition of ferrous sulfate and hydrochloric acid. At the bottom of the container, a reddish sediment remains, which is purified gold.
The electrolytic refining method is used in production. The raw material here is a precious metal with a purity of at least 900. It is impossible to carry out this procedure at home.
Process and raw materials for refining precious metals
We have already formulated above that the refining of precious metals is a process of special purification of them from impurities. In this case, the following metallic substances are usually subjected to refining:
- scrap jewelry;
- spot gold;
- waste from electrical purification of precious metals;
- scrap of other metals, which contains a small admixture of gold;
- mine concentrates;
- silver foam.
The technological process of refining precious metals usually involves the implementation of several preparatory mandatory stages, consisting of the following sequence: crushing the metal, roasting it and melting the precious metal together with zinc.
Refined silver
To refining silver precious metal, electrolytic and chemical methods are used, as well as the cupellation method.
In apartment conditions, to obtain refined silver metal, it is possible to use only the chemical method. In this case, silver is released from the solution in the form of sulfate, which has a black color. If you add ammonium chloride or ordinary table salt to the solution, the metal can be obtained in the form of chloride. The resulting liquid substrate is settled until it is separated into cloudy and transparent fractions. The refined silver will need to be recovered from the sediment.
Features of refined precious metals
Refining is a metallurgical process (a set of procedures) aimed at purifying precious metals from various types of impurities to obtain precious metals from them. Refining includes several stages in which precious metals are purified. Refined precious metals are obtained by physical and chemical processing. Undoubtedly, one of the issues of interest to investors in this context is the price of refined precious metals. In this article we will try to reveal all the features of precious metals refining and answer questions that interest investors.
Refining
As we noted above, precious metal refining is a specific purification process. The objects of such cleaning may be:
- technological scrap that contains gold;
- spot gold;
- scrap jewelry;
- waste from electrical purification of precious metals;
- "silver foam";
- mine concentrates and much more.
The refining process involves, in particular, mandatory preparatory stages , which include the following processes:
- metal crushing;
- metal roasting;
- fusion of precious metal with zinc.
Gold refining
Alternative methods for refining yellow precious metal are:
- chemical;
- electrolytic.
Chemically refined gold is usually obtained in jewelry workshops. It is also applicable at home. The essence of the chemical refining method is to soak contaminated scrap gold in various chemicals. Typically, ferrous sulfate or ferrous sulfate is used in this case. This substance is characterized by relative cheapness and lack of toxicity. 10-12 grams of sulfate solution are used per gram of gold.
We recommend reading: World gold market
Jewelers often add iron sulfate to aqua regia after dissolving scrap gold in it. However, this method will not give a 100% result due to the fact that when using it it is not possible to completely extract the precious metal.
The most optimal way to refining gold is considered to be evaporation of nitric acid in a specially prepared porcelain container with the addition (alternately) of hydrochloric acid and iron sulfate. In this case, a dark red powder will settle to the bottom of the vessel, which is nothing more than pure gold.
The electrolytic refining method is a production method, the raw material for which is gold, the fineness of which is at least 900. The use of an electrolytic method for refining gold at home is unacceptable.
Silver refining
Methods for refining silver are:
- cupellation;
- chemical;
- electrolytic.
At home, as in the case of gold refining, we only use the chemical method. When used with silver, it provokes the release of the metal from solution in the form of black silver sulfate. Silver can be extracted as chloride by adding table salt or ammonium chloride. The resulting liquid must be left to settle until it is completely divided into two sections - transparent and cloudy. Silver always remains in sediment, from where it must be extracted.
Bank of Russia databases (prices)
Registration prices for refined precious metals established by the Bank of Russia are one of the most important indicators of the development of the domestic market. Of course, many factors play a role in their formation. The table of accounting prices for refined precious metals of the Central Bank of the Russian Federation for February 2015 is as follows:
We recommend reading: Investing in gold: prospects
For clarity, we also suggest that you familiarize yourself with the graphs of the dynamics of accounting prices for gold, silver, platinum and palladium according to the Central Bank of the Russian Federation for February 2015.
Chart of accounting prices for gold of the Central Bank of the Russian Federation (February 2015)
Schedule of accounting prices for silver of the Central Bank of the Russian Federation (February 2015)
Schedule of discount prices for platinum of the Central Bank of the Russian Federation (February 2015)
Schedule of accounting prices for palladium of the Central Bank of the Russian Federation (February 2015)
Investment prospects
Speaking about investments in refined precious metals, it is necessary to draw a line between this concept and the concept of investment in precious metals.
Since refined precious metals mean exclusively “pure” precious metals, investments in this sector will include:
- Investments in bullion.
- Investments in impersonal metal accounts.
Investors always associate investments in bullion of refined precious metals with additional costs associated with the need to pay value added tax on each transaction of purchase and sale of bullion. VAT is paid directly by the buyer of bullion, who is the investor. However, given the fact that purchasing bars of bank gold, silver, platinum or palladium means purchasing a truly pure precious metal, the prospects for investment in this area may be limitless, and the profits made may be a pleasant surprise for investors.
We recommend reading: Buying gold: restrictions of the National Bank of Ukraine and new alternatives
Investments in “pure” precious metal always bring profit. But an important aspect in this context is, of course, the timing of investment. Investments in precious metals must be planned for at least two to three years. This period will allow investors not only to track market dynamics, but also to choose the most appropriate moment to sell raw materials.
It is important! However, it is worth noting that selling precious metal bars is not a simple matter. Finding a buyer in this area and concluding an agreement with him on mutually beneficial terms is not so easy.
Investments in impersonal metal accounts are rightly called one of the most optimal ways to invest in precious metals. The essence of this method is that an investor, purchasing a refined precious metal, gets rid of the need to take care of its storage, transportation and other details.
The profitability of an impersonal metal account is calculated solely from the difference in exchange rates (accounting prices) for precious metal, valid, respectively, on the date of opening an impersonal metal account (purchase of an impersonal precious metal) and on the date of closing an impersonal metal account (sale of an impersonal precious metal).
The prospects for investing in refined precious metals come down mainly to their absolute value, which they will not lose in the near future.
Thus, investing in pure precious metals is a truly attractive and profitable method, which should certainly be preferred, since it guarantees not only the profitability of the investment, but also its stability and prospects.
Precious metals market: review 12/15/2014
Precious metals market: overview May 12, 2015
Precious metals market
How profitable are investments in refined precious metals?
Refined precious metals, as an investment object, differ from ordinary precious metals in their exceptional “purity” (fineness). Therefore, investments in such “pure” metal usually involve the purchase of bullion or the opening of compulsory medical insurance (unallocated metal accounts).
There are associated costs associated with using an investment vehicle such as bullion. Each sales transaction requires the buyer to pay VAT. And storing bullion precious metal in a bank is a paid service. Despite this, such an investment in a refined precious metal, be it palladium, silver, platinum or gold, can be very attractive and profitable.
Refined or “pure” metal is always a profitable investment instrument. But here it is important to correctly understand the timing of investment placement, which can be at least 2-3 years. Only such a time period allows us to understand the price dynamics of the market and choose the optimal moment to sell assets. You also need to know that finding a buyer for bullion to conclude a mutually beneficial deal usually takes a lot of time.
A simpler method of investing in “pure” precious metals is to open a compulsory medical insurance. It allows you to become the owner of bullion without having them in your hands, and without incurring the costs of transportation, storage, etc. Profit from compulsory medical insurance depends on the difference between the purchase price and the sale price of the precious metal.
Refined precious metals have an unconditional value that does not decrease over time. They are not subject to inflation and external economic influences. Therefore, the prospects, profitability and security of investing in them are indisputable.
Purchase of valuable materials
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