Case Studies

In March 2018, Dr. Wong sent in 700 grams of scrap to a refining company for processing and melting. After the company’s refining fees and 5% promotion, his final settlement offer was $9,644.50. At first, Dr. Wong believed this to be a very reasonable offer. But after a closer look at the report, something didn’t add up.

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 Based upon the refiner’s own breakdown of Dr. Wong’s metal percentages and weight, he noticed that his final settlement offer should have been around $12,500.00. After speaking with the refining company, Wong was informed that there was an additional 30% deduction that was non-transparently figured into the numbers.

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 After declining this offer and then sending his bar to Scientific Metals (who has no hidden fees) Dr. Wong’s final settlement for the same bar was $12,879.59.

Dr. Kulick contacted Scientific Metals after he submitted his scrap collection to a dental supply rep whose company was partners with a refiner. When his settlement offer of $2700 seemed low, he was informed of the multiple charges and deductions that were added to the refining fees.

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After Dr. Kulick declined this initial offer and received his material back in the form of an ingot (or bar), he then asked a colleague to refer him to a different refiner—which turned out to be Scientific Metals.

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Dr. Kulick sent us his bar for assay and settlement and received $3554.00…32% more for the same bar.