Melting Memories

News
Wednesday, August 3, 2011 - 10:08am

Silver and gold trinkets sold for cash are quickly melted down.

You see the signs everywhere: "We Buy Gold"

People are bringing in the yellow metal and turning it into green.

"It's a precious commodity and as you know, the price of gold is breaking through the roof the last couple of days. This morning it was at 1625 and climbing," says jeweler Barry Siegler.

That's $1,625 dollars an ounce.

The price of silver is also setting records.

But what happens to your precious metals after you sell them?

It's top secret.

For security reasons, the location and identity of the precious metals refiners must remain a mystery.

They use acids to dissolve and heat to melt down, all in an effort to purify.

Silver is broken up and put into a crucible, which is heated to nearly 1400 degrees.

After the metal liquifies, a mold is heated.

Then, a silver ingot is poured.

After cooling it's ready to be recycled back into the economy.



 

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