Frequently Asked Questions
Click the - or + buttons below to collapse or expand the questions for each category.
WITHDRAWALS
What information is required for a withdrawal?
|
What forms and purities are available for each metal?
| Metal | Gold | Silver | Platinum | Palladium | Rhodium | Iridium | Ruthenium |
|---|---|---|---|---|---|---|---|
| Form | Bullion | Bullion | Sponge/Grain | Sponge/Grain | Sponge/Powder | Sponge/Powder | Sponge/Powder |
| Purity | 99.99% | 99.90% | 99.95% | 99.95% | 99.90% | 99.90% | 99.90% |
Occasionally, some other forms may be available upon request but cannot be guaranteed. If other forms or purities are needed, you must contract a vendor to fabricate those with metal provided by the Business Center.
What is the difference between physical and electronic transfer?
A physical transfer is when the metal is withdrawn from the vault and shipped to your specified destination. Electronic (aka paper transfer), much like your personal bank account, no physical metal changes hands. The quantity is electronically subtracted from one account and added to another. The vendor specifies which type of transfer they prefer. Some vendors do not accept physical shipments. It is up to the requesting site to determine the vendor’s preference.
How does the Business Center run out of inventory?
The DOE Business Center for Precious Metals Sales and Recovery is a recycling program. The availability of material is entirely dependent upon returns. The Business Center does not procure precious metals.
RETURNS
Where are returns shipped?
The Business Center will provide specific shipping instructions upon approval of the form 68. Destination is determined by the form, content, and volume of the metal. Large shipments, shipments containing hazardous waste, and liquids are not sent to the directly to the Business Center at Y-12. These shipments are shipped directly to the refinery as designated by the Business Center.
Does the Business Center take materials that contains RCRA controlled materials or radiologically contaminated material?
The Business Center does not accept any radiologically contaminated material or any materials that cannot be released due to the DOE Moratorium. RCRA material is evaluated case by case. If precious metals can be reclaimed without disturbing the RCRA material, the business center may accept the material. For instance, an item that is plated with precious metal may be able to be recovered without disturbing the RCRA material.
What needs to be returned?
All precious metals must be returned to the business center except low content electronic media and silver solutions. The Business Center may determine that the material being returned does not warrant the cost of handling, shipping, and recovery. This is done on a case by case basis.
FORM 68s
Can I combine like material into one line item on the form 68?
Precious metals should be sorted and segregated in this order of precedence: Precious Metal contained (i.e. gold, silver, platinum, etc.), form of scrap (solids, liquids, fine particles on rags or filters), and purity (high purity, low purity, plated). Your form 68 should reflect this sorting and segregation. See example:
As shown in the example above, you could list 3 entries for gold on different lines of the same form (e.g., 100 grams non-alloy in pieces greater than 1 inch diameter, 50 grams less than 1% alloy, and 500 grams non-alloy) and then provide a numbered list in the textarea below that list for net weight of scrap in grams and detailed description of physical form of those items. Those items might be described as: "1) Gold 100g – rods, wires, shavings, target, chunks; 2) Gold 4700g – (50) gold-plated rings; and 3) Gold 20 gal – (4) 5 Gal containers with rinse solution."
|
FORECASTING
Do unused metals from this fiscal year’s forecast carry over into my availability for next year?
No, the availability and allocation of precious metals is completely re-evaluated every fiscal year.