Deciphering Your Precious Metal Scrap: Is it Platinum, Iridium, or Something Else?

At Specialty Metals, Smelters, and Refiners, we understand the importance of discerning the true nature of your precious metal scrap. Whether you're a jewelry enthusiast, a medical device manufacturer, or a collector, knowing whether your material contains platinum, iridium, or a combination of both is essential for ensuring its value and utility.

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How Can You Tell the Difference Between the Platinum Group Metals?

The platinum group metals - platinum, palladium, rhodium, iridium, and ruthenium look pretty much the same. They are all bright, shiny white metals that do not tarnish. And if you’re dealing with platinum group metal scrap – the stuff that is left over after different industrial processes – it all looks pretty much the same. 

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Now Is the Time to Reclaim the Platinum from Older Computer Hard Drives

Have you noticed a big change in computers over the last few years?


We’re not talking about the fact that DVD/CD drives have disappeared from most of them – even though that is true. Nor are we talking about the fact that there is no longer a place to plug in an ethernet cable. 

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Common Myths and Misconceptions about Platinum, Gold, and Silver

If you read this blog regularly – and we believe you should – you probably think you know everything about precious metals. 

Well maybe you do . . . and maybe you don’t! In our post today, we are going to delve into some of the most common misconceptions about your favorite precious metals – platinum, gold, and silver. 

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Do Precious Metals Have Distinctive Smells or Tastes?

Another way to identify precious metals . . . 

Do Precious Metals Have Distinctive Smells or Tastes?


We have written on this blog before about what gold, silver, platinum, and other metals look like. Gold is yellow and doesn’t tarnish, for example. Silver is white in color and does collect a layer of chalky tarnish. And platinum is white in color and doesn’t tarnish. 

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What Are the Most Common Platinum Group Alloys?

The platinum group metals (PGMs) consist of six chemically and physically similar elements: platinum (Pt), palladium (Pd), rhodium (Rh), ruthenium (Ru), iridium (Ir), and osmium (Os). These metals are often alloyed with each other and with other elements to create materials with specific properties for various industrial and other applications. 

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What Platinum Alloys Are Used to Make Jewelry?

Platinum engagement rings are not rare. Maybe you called off an engagement and your former fiancé gallantly said, “I gave the ring to you . . . it’s yours, so keep it.” Or maybe you find some platinum engagement ring blanks (rings that have not yet had stones mounted in them) in a jewelry manufacturing company that went out of business. 

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How to Make a lot of Money by Investing in Platinum-Iridium Scrap 

What do you get when you mix platinum and iridium, two ultra-valuable white, shiny metals? You get a very valuable alloy with high density and resistance to corrosion and oxidation, even at high temperatures. Those characteristics make the alloy particularly useful. 

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Three Places You Are Most Likely to Find Platinum and Platinum Scrap

We recently asked Dan Fried, Founder and CEO of Specialty Metals Smelters and Refiners, to name a few places where platinum can be found. Some of his advice was surprising and if you follow it, we predict you will find platinum that you can recycle for money. 

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Cautions and Caveats to Observe when Investing in Ancient Coins

If you are looking for excitement or romance when you are investing in precious metals, few investments can equal ancient Roman or Greek coins. Some of these coins bear the images of historical figures like Julius Caesar or Nero. Others are especially beautiful – true ancient works of art. And then there is the fact that just holding one of these coins in your hand makes you feel like you are in touch with ancient history. 

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Recycling Platinum Lab Crucibles: A Deep Dive into What You Need to Know

We’ve written in the past about recycling platinum laboratory equipment. Back in 2014, for example, we published a post entitled, “Bright Shiny Platinum Could Be Hiding in your Dented and Dirty Old Labware.”

Let’s fast forward to 2023. In the video that accompanies today’s blog post, we interview Dan Fried, President and Founder of Specialty Metals Smelters and Refiners, about making money recycling platinum and iridium crucibles. 

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Everything You Need to Know about Making Money by Recycling Iridium

What is the most valuable and sought-after precious metal today?

If you ask a group of precious metal investors that question, chances are that most of them will say, “Iridium!” And there are reasons for that. One is that iridium is now trading for more than $6,000/Troy Ounce, which is a very high price. Another reason is that most of those investors have never seen iridium because it is so rare. So it’s mysterious, kind of like unicorns. Everybody can describe a unicorn, but nobody has ever seen one. 

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Where to Look for Hidden Jewels and Metals in Houses You Are Emptying

At some point in your life, you might find yourself emptying an old house. The circumstances might be happy (you bought a house or are moving into it, and you want to be sure to conduct a thorough search for treasures that the previous owners hid away). At other times, the circumstances might not be too happy, as is the case when you are cleaning out a house that was occupied by parents or relatives who passed away.

So, where do you look? 

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What Are The Best Places to Look for Platinum and Platinum Alloy Scrap? 

Platinum alloys are valuable and are commonly used in various industrial applications, including electronics, jewelry, and more. And if you can find platinum and platinum alloy scrap, chances are good that you will be able to recycle it for a good payback. After all, platinum is now trading for $908.00/troy ounce. That means that even a small quantity of platinum scrap you find can often result in a big profit for you. 

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Just Starting Out as a Precious Metal Investor? Start by Buying these Three Metals

For first-time investors, the best precious metals to consider buying are gold, silver, and platinum. These metals have a long history as stores of value and are easier to acquire and sell than other precious metals. Here's why these metals should be among your first investments if you are just starting out as an investor.

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What Platinum Family Metals Make the Best Investments?

The platinum family metals, also known as the platinum group metals (PGMs), are a group of six elements that share similar chemical properties. These metals are highly valuable and have various industrial applications, making them attractive for investment purposes. 

The six platinum family metals are:

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