Did you ever think about what happens to your gold coins, bullion, or jewelry after you sell it? Does it immediately pass to another customer? Does it go into melting? The life of gold does not end at the transaction counter. Instead, it takes on a captivating process of transformation called Precious Metal Refining.
At 24 Gold Group Ltd., a reputable gold refinery in Toronto, we expertly transform old, broken, or unwanted gold into clean, investment-quality material ready to be reused or re-melted. Let's peek behind the curtains at what actually occurs once you sell your gold.
Step 1: Receiving and Evaluation
Once you have sold us your gold, the process begins with cautious documentation and assessment. Each item, be it chain, coin, dental gold or scrap, is weighed and marked for trackability.
We determine the karat content 10K, 14K, 18K or 24K and sort by purity and kind. This preliminary step guarantees that each metal batch is received by the refining process with accurate tracking and preparation.
Step 2: Melting the Metal
Once assessed, the gold proceeds to the melting process. In high temperature induction furnaces, the material is melted into a liquid state. While doing this, we add flux, a chemical compound which helps in binding and removing impurities such as copper, zinc or other base metals usually alloyed with gold.
At our Toronto gold refinery, safety and accuracy are paramount when melting.
Melting is a key step to producing a homogenous sample that reflects the batch's overall gold content accurately.
Step 3: Assaying for Purity
After the metal is melted and cast into molds, we then conduct an assay to know the actual content of gold. The most used and most accurate technique is fire assay in which a small sample is extracted and chemically examined in a laboratory.
This assay verifies the purity of the gold and enables us to establish its value at the prevailing market rate. Being a professional precious metal refining company, we ensure that every ounce is traced with complete openness.
Step 4: The Refining Process
Following assaying, the actual purification process starts. Gold is purified to eliminate any non-gold content, including silver, platinum, palladium or base metals.
Two basic refining processes are used:
Aqua Regia Refining: Gold is dissolved in a hydrochloric and nitric acid mixture. The gold is filtered out and precipitated to obtain very high purity levels, usually 99.99%.
Electrolytic Refining: The gold is made into an electrode and plunged into an electrolytic solution. Electricity drives the pure gold onto a cathode, which is abandoned by impurities.
At 24 Gold Group Ltd., we utilize industry-standard practices for refining in a cost-effective and environmentally friendly way, one of the reasons we are one of Canada's leading options for precious metal refining.
Step 5: Recasting and Reuse
After purification, the gold is remelted and recast into its new form based on where it is.
This can include:
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Investment-grade bullion wafers or bars
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Jewelry production
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Electronics and medical applications
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Coinage or collectibles minting
It is purified gold melted, changed into shape, continuing on to the second phase of its life with greater utility and value.
Why Use 24 Gold Group Ltd.?
With a long history of being a Toronto gold refinery, we take pride in accuracy, reliability, and honesty at every step of the refining process for gold. Whether you are an individual seller, a jeweler or an industry client, our refining process is designed to provide honest returns and high-quality results.
We provide:
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Secure and traceable refining services
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Competitive payments linked to current gold prices
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Total transparency with assay reports and reports
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Decades of industry experience and confidence
Conclusion
Melted gold does not signify the end of its worth, it's just the start of a complex refining process to recycle precious metal for use again. At 24 Gold Group Ltd., we refine your gold into something pure, worthy and ready for its next form, with professionalism and dedication.
If you're looking for trustworthy precious metal refining services or would prefer to partner with an experienced Gold Refinery Toronto, drop by at 24 Gold Group Ltd. today. We're dedicated to bringing out the very best in your gold, the moment you sell it to the point it becomes something new.
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