Product Profile: Scientific Metals

No hidden fees means higher scrap metal returns

By eliminating hidden fees and charges, Scientific Metals can help dentists make an additional 35% return on their dental scrap. This case study explains how Townie dentist Dr. William Wong of West Allis, Wisconsin, discovered the difference between companies.

Background

Wong sent about 713 grams of dental scrap to a refining company that had exhibited at a recent trade show. After about a week, he received a settlement sheet that estimated the scrap value at $10,152.10: The company would take a 10% refining fee, but had offered him a promotional rate of only 5% instead. The dentist was to receive a final settlement figure of $9,644.50.

At first this seemed reasonable and acceptable, but after a closer look at the report, Wong realized that something didn’t add up. When he did the arithmetic, the dentist realized that the scrap value should have added up to more than $14,000, and his return after the company’s fees should have been closer to $12,500—much more than the $9,644.50 shown on the settlement offer.

He eventually was informed that the company had an additional 30% “charge” in addition to its refining fee. In reality, all of the total fees and charges added up closer to 35–38% of the scrap’s original value.

Wong declined this settlement and asked for his processed scrap—now in the form of a melted bar—to be returned to him.

The results

Wong then contacted Scientific Metals to determine whether the company had any extra charges, fees or deductions. Upon hearing no, he sent the bar to Scientific Metals to be assayed and analyzed; the assay there showed the bar to be worth $14,310.65. The final amount Wong would receive was $12,879.59—about 34% more than the initial offer.

Findings

Both refining companies had essentially the same assays in terms of how much gold, palladium, platinum and silver was present in the bar. The only difference was that Scientific Metals did not have the extra charges and fees.

For more information, visit scientificmetals.com or call 888-949-0008.