Dentaltown October 2020 - 26

Mystery
Solved!
A DV E R TO R I A L

REMOVE THE CONFUSION ABOUT
THE VALUATION OF SCRAP METALS
By Dave Weinberg

I believe in gold, and over the past decade
my beliefs have been strengthened by
data. Gold, along with other noble metals
found in dental offices are worth more
today than they have ever been-crossing
the $2,000-per-ounce mark for the first
time ever.
The economic patterns that influence
shifts in metal prices can, at times, be
fickle, but good indicators can help
predict which way the wind will blow:
general economic factors like inflation,
for instance, as well as other elements
that act like unpredicted variables, such
as the coronavirus that has had disastrous
effects to the health of the population
and our nation's economy.
This year has not been kind to most of
us-and that's putting it lightly. However,
there is a silver lining, quite literally:
There's more money waiting in your
dental scrap than there has been in
recent memory.
Scientific Metals was started when my
father, the company's founder, recognized
inefficiencies in a system that mostly relied
on in-office cash offers, which tended to

DT1020_ADVERTORIAL_Weinberg_Refining_MM.indd 26

be inaccurate. As a result, doctors left
quite a substantial amount of money on
the table.
I hope to educate dentists on how
to recognize the worth in their scrap,
teach doctors how to maximize their cash
on hand from this valuable capital, and
debunk a few myths that have clouded
what is actually a straightforward and
honest business-as long as you know
whom to trust.

Myth: There isn't much
value in dental scrap.

Now is the best time to sell, because
metal prices are high and cash on hand
is paramount. I don't need to lay out all
the reasons this year has been especially
hard on dentists, because they've been
struggling, adapting and doing an admirable job moving forward despite setbacks.
Among all the obstacles, getting rid
of that scrap probably hasn't crossed
the mind of practice owners with bigger
fish to fry. "Dental scrap can't be that
valuable," is one of the most common
myths I hear.

Let's look at what isn't "that valuable":
gold, palladium and platinum. Gold has
seen a 68% increase in value in the past
five years, including a nearly 30% rise in
the past year alone. The last time gold was
this valuable was 2011. In August 2020,
gold averaged about $1,928 per ounce,
or $62 per gram.
Similarly, palladium continues to
increase in value. In August 2015, this
metal was going for about $586 per ounce.
In August 2020, palladium averaged about
$2,000 per ounce.
Platinum has been consistent, with rare
exception, and routinely collects upward
of $900 per ounce. (Prices are all adjusted
for inflation.)
I encourage every dentist interested
to go online and check these figures. The
data points to an obvious conclusion.
While 2020 has been unprecedentedly
difficult for the dental profession, there is a
valuable resource a lot of doctors are just
sitting on while its value has never been
higher, in a time when having more cash
on hand could be a significant difference
in the ledger.

9/18/20 2:43 PM
Dentaltown October 2020

Table of Contents for the Digital Edition of Dentaltown October 2020
