What is a precious metals refinery?
A precious metals refinery is a facility that refines raw materials into their purest state. Many refineries will receive scrap, jewelry, and other items containing precious metals and separate the desired metal from other metals. This process is usually done by melting the metals to an appropriate temperature, which will separate them due to different melting points. The pure metal will then be recast into new products. Some mints also operate a refinery which allows the mint to be more efficient in supplying their bullion.