Faster technology introduced as metal scrapping continues to rise
The Goldsmiths’ Company Assay Office London has invested in new state-of-the-art large-capacity smelting equipment in response to the increasing demand for scrap metal.
The Assay Office London has introduced the new technology as more retailers are running cash for gold schemes. Retailers dealing in scrap precious metal must have the old jewellery smelted into bars and analysed before they can sell it on.
The new technology will allow the Assay Office London to smelt up to 12kgs of gold or silver or up to 2kgs of platinum or palladium at any one time. The new induction furnace allows safe, quick and thorough metal mixing, ensuring accurate results.
A numbered certificate of analysis is produced detailing the content of the bar along with its weight and the customer’s details, and the bar is stamped with a unique identification code traceable back to the certificate. This ensures that the certificate and the bar, which can now be sold without need for further testing, can be cross referenced with each other.