Silver Refining

Silver Refining Process

Have scrap silver that you are looking to turn into money or pure silver bars?

With the ability to both refine silver and create hand poured bars in-house we are able to offer industry leading scrap prices.  Many other refineries can only do half off this process and therefore pass the additional costs onto the consumer and pay less for your scrap.

We accept many forms of pure or sterling silver items, and have created a list below to show some of the most common things we handle on a day-to-day basis. Generally the only form we will NOT accept are items that are silver plated. If you have any questions about the process or the eligibility of your items you can contact us by email here, or call us at 970-797-0435.

Accepted Forms of Silver

  • Sterling Silver Flatware, Candle Sticks, Serving Trays, Teapots, etc.
  • Sterling Silver and Pure Silver Jewelry
  • Silver Bars and Coins
  • US Coins that contain silver dated 1964 or earlier

Scrap Silver Payment Rates

  • Less than 10 ounces  – 85%-90% of current markets melt price
  • More than 10 ounces – 90% of current markets melt price
  • More than 100 ounces – 92% of current markets melt price
  • More than 1000 ounces – 95.5% of current markets melt price

**For silver lots of less than 70% fine prices are less, the reason for this is the acids used to dissolve the base metals and silver usage goes up to dissolve such metals. If the lost is less than %70 and more than %40 pure, we will pay 80% of the values.

For less than %40 purity silver we will pay 70% and less

Step One: Documentation and Shipping

Begin the process by printing a Refining Request form and filling out the top contact portion, this document can be found here.  After all current information is added to the top of the form securely package your scrap metal for shipping. We recommend sealing the scrap in zip-lock bags, and then using either a bubble mailer, or one of the priority mail cardboard boxes that are provided free by the USPS. We recommend getting a delivery confirmation number with every package and insurance if needed. Be sure to include all of your scrap as well as the request form with your contact information on it and mail to:

309 S Summit View Dr
Fort Collins, CO 80524

Be sure NOT to put Prospectors Gold and Gems on the package or anything that may indicate that something of value is inside. This will help to ensure it arrives safely.

Also since we offer the service of purchase or conversion into bars please let us know if your are

A. Selling the results

B. Requesting product return and what you would like the metal made into.

Step two: Metal Verification

When your scrap lot arrives at our secure facility it will be immediately verified for the contents inside. Any non silver or questionable items will be removed for efficiency so it does not dilute your lot and can be returned so you can be a better buyer and know what is good silver and what is not. We will photograph your lot, as well as do an initial weigh-in. After entering this information into our database we will then reach out by phone to let you know your scrap has arrived and answer any questions you might have. If you cannot be reached by phone will send a verification email.

The scrap will then be moved to our prep station and the real refining process will begin!

Step Three: Initial Melting Phase

In order to get the best calculation of silver content in your scrap we must melt it down into a homogenous bar.

Step Four: Testing

We then Test and Assay the metal to determine the contents and values contained with in your lot.

Once the assay is finished we can let you know the values and get to work sending payment or product.

Step Five: Refining.

For silver we use an electrolytic refining process to purify the silver to 999+ fine. This grows pure silver crystals of 9999 purity and leaves the base metals in solution, Every day we harvest this pure silver and manufacture it into our famous quality bars!

“We like to inform people that we are a zero waste facility. Everything metal gets recycled and used.

An old wedding ring from 100 years ago may come in and with in a week that gold is in a new piece of jewelry or a bar or a coin.

And the base metals, the copper and other metals are saved and processed separately for recycling. With in a year the copper may be in your next phone or computer or car.

Everything is recycled and handled in a responsible manner.”