Who are Midwest Refineries
Based in Waterford, Minnesota, USA, Midwest Refineries have been in business as a gold, platinum and silver scrap buyer, smelter and refiner since 1939. In April 1999, they set up their first web site and the contact point is Gary Frenkel who is, presumably the person in charge of this side of the Midwest Refinery business.
Midwest Refineries Customer Service
Midwest Refineries state there is no minimum amount of scrap gold, platinum and silver. No amount is too small or too large.
They also do not charge any scrap gold, silver and platinum refiners fees or refining charges, nor assay fees or treatment charges. There is also no inbound troy ounce weight charges on any gold, silver and platinum bearing precious metal material!
On the midwestrefineries.com website it states, "Our modern assay laboratory and our commitment to service, insures you will receive the highest settlements and returns for your gold materials. If you have not used Midwest Refineries before, we would welcome the opportunity to be of service to you as gold buyers, smelters and refiners. We are confident you will be satisfied with your gold transaction with us. We are proud of our reputation as gold refiners and will continue to service all our customers, large and small, with integrity and trust. We are never too busy to talk to you about your particular gold materials and how we may be of benefit to you."
They claim it is also not necessary to remove any enamel or cement from dental gold scrap. Remove all precious stones, diamonds gemstones that you DO want to keep, as any stones left in the karat gold jewelry scrap are vaporized in the melting process.
The turn around time is expected to be 3 to 5 working days.
What do Midwest Refineries Buy
Here is an extended list of the basic scrap gold and scrap silver Midwest Refineries will buy.
GoldMidwest refineries does not accept gold-plated material or gold electronic scrap.
karat gold jewelry
gold class rings
gold wedding bands
gold dental crowns and bridgework
gold coins and bars
gold dust and sweeps
casting gold and grain
broken and unwanted gold scrap
gold sizing stock
gold screen and mesh
polishing and buffing dust
goldsmith's bench filings and sweeps
SilverMidwest Refineries also collect Platinum and other precious metals.
sterling silver jewelry
sterling silver flatware and hollowware
silver flake from photo film recovery
electrolytic recovered silver
mirror silver powders
antique silver items
silver coins and bars
dental laboratory scraps and miscasts
silver dental crowns
silver inlays and caps
How to Sell Scrap Gold and Silver to Midwest Refineries
Package up your gold, silver or platinum in a sturdy container or box that will withstand any damage while being shipped. Strong tape is recommended to properly seal your shipment. Ship all precious metals with insurance (recommended) via the U.S. Post Office, UPS, Fed ex, or any shipper you choose.
Be sure to include all of your contact information including name, address, daytime phone number, any cell or mobile phone number and e-mail address if you have one. It is not necessary to list every item you are sending but it is advisable. Indicate the type of material you are sending, for example, 10K, 14K, sterling silver, platinum wire and the weight of your materials, if known. Also you should indicate the type of payment or settlement you want, be it cheque, bank wire or in kind (see Payment Options below). In addition, if you want a price before settlement, indicate that you want a call with the price first.
How Much Do Midwest Refineries Pay
Midwest Refineries claim they will pay 94 percent of the amount of pure gold contained in your order. Settlement is based on the market price on the day your order is completed and ready for settlement and there are no fees attached to that.
For silver, Midwest Refineries pays 88% of the amount of pure silver contained in your order for sterling silver (.925), like flatware and jewelry and photographic silver flake. Midwest Refineries pays 92% for pure silver (. 999) bars, and coins and 90% of the amount of pure silver contained in U.S. coin silver (90%).
Midwest Refineries Payment Options
Midwest Refineries will pay a settlement either by Cheque, bank wire or in gold, silver bars, coins and rounds and even all three or a combination of the three if desired. Make sure you state very clearly what type of settlement you want and be very specific, especially when it comes to bars and rounds.
Gold will attract a fee of 18 USD over what the current spot price is on pricing. Silver, a fee of 1.50USA over spot.
For platinum you will need to inquire on pricing.
The Last Word on Midwest Refineries
Smelting is the separation of precious metal from non-metallic impurities. This is a necessary activity to separate scrap gold and scrap silver from other metals such as in rings of a lower karat for example.
Midwest Refineries state they are committed in using the correct and accurate evaluation methods of all precious metal shipments from their customers.
Midwest refineries also state that their modern assay laboratory guarantees that all precious metals are tested using the most suitable methods of evaluation. Gold, silver, platinum, palladium and rhodium are assayed (determination of precious metal purity) in various ways to accurately and precisely evaluate each metal’s percentage of purity.
If you have sold any scrap gold, gold coins, gold jewelry or gold bullion to midwestrefineries.com, please feel free to leave your feedback on the quality of service and payments, including any midwestrefineries.com online complaints and special attention or service given by midwestrefineries.com online.