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Refining FAQ
Diamond District Refinery        55 West 47 St Mezzanine #330 New York, NY 10036
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212. 391. 0700
 

Gold refining Process

Here at Diamond District Refinery we are pleased to be one of the few companies with the flexibility to offer refining services to a variety of businesses—from jewelers of all sizes to pawnbrokers, to a company's largest load of metals used in industrial applications. While we are uniquely prepared for smaller loads, no smelting operation is too large. A quick turnaround and immediate payment via wire transfer make us ideal and convenient. We encourage patrons to visit our refinery and witness our refining metals process firsthand. Visitors to New York City can take a trip to our offices and drop off scrap metals in person without having to wait days to see progress because lots are processed the same or next day. Our friendly staff will work closely with you during the refining process and be available to assist with any needs that may arise.

Whether you decide to bring in your items or ship them to us, we provide two methods of exchange to start the refining metals process.





Refining Metals Process


Hand Testing

Usually done with smaller lots.

All items are inspected carefully by our highly trained and experienced staff.

Stones and fillings are removed and the metal is tested on a basalt stone to determine purity.

The percentage and weight of precious metal will determine the final sale price, set daily to the London Gold Exchange.

The hand testing method can be done very quickly and you can be in and out with your money.


Melting and Assaying

Larger lots are processed by melting metals in our top-quality melting facility.Items are processed in one of our six furnaces where they are heated to a homogenous state.

The metal is then placed in a mold to be cooled down into a bar.

The bar is cleaned, drilled and assayed to determine the percentage of metal contained in the bar.

The bar is either machine assayed or fire assayed—depending on your needs.

Machine assaying is a quicker method with good accuracy. Fire assaying is more time consuming, but has the highest level of accuracy. In fire assaying, the precious metal is chemically separated from the sample, giving the exact purity of the bar. The metal is then calculated based on the after-melt weight and the results of the fire assay. Advances are available before we have final results in order to help with your cash flow needs.

Diamond District Refinery's exchange rate is confirmed at 10:30 a.m. each business day, set to the second London fix. We are happy to provide the current price over the phone. When there are abnormal market conditions, prices may be adjusted.

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