Gold jewelry comes in a variety of karats because it contains numerous alloying elements mixed in with the gold. The uncertain composition of gold and other precious metals, combined with continuing market volatility, means businesses specializing in buying and selling precious metals require accurate, careful tests to stay competitive.
Determining the precious metal content of jewelry traditionally has been accomplished with acid testing, a method by which the jewelry is scratched on a stone which is then tested with acid to determine the gold content of the piece. While the acid test produces relatively reliable results for common karat weights, the process is painstakingly slow if you have a large quantity of metal to test, damages the jewelry, and can be fooled by certain counterfeit alloys and under-karated material. For companies like World Precious Metals, with a business model based on volume and accuracy, an alternative technology was needed.
Victor Bedoyan, owner of World Precious Metals, realized that an x-ray fluorescence (XRF) analyzer was the perfect alternative to acid testing. Here he explains why.
Q: Why did you decide to incorporate XRF technology into your business?
A: “The basic problem that we were having was with the acid,” says Bedoyan. “It takes too long when you’re checking gold with acid, and besides being slow, it’s harmful. In this competitive business, the use of electronics has really helped us. The major reason we purchased the analyzers was for speed, and I haven’t been disappointed. I haven’t bought acid for over a year.”
Q: How does your XRF analyzer benefit your business?
A: “The analyzer has done incredible work for us,” observes Mr. Bedoyan. “It has increased our volume. It has increased our income. I can buy up to three times as much precious metal per day as I did previously because of the speed. And that’s what differentiates us from the others. If they stay with the acid, they can’t keep up with the volume.”
Read the full World Precious Metals customer testimonial.