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Precious Metal Refining Services ( PMRS )

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Romantic

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Post November 16th, 2011, 5:52 pm

Precious Metal Refining Services ( PMRS )

Anbody used Precious Metal Refining Services ( PMRS ) out of Barrington, IL?

If so where you happy with them?

Any comments, good or bad would be appreciated!

Thanks!
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Romantic

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Post November 28th, 2011, 11:03 am

Re: Precious Metal Refining Services ( PMRS )

12 days and not one comment :cry:

Has no body delt with this company?
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MiguelRosas

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Post November 29th, 2011, 6:09 pm

Re: Precious Metal Refining Services ( PMRS )

Romantic -

Being in the industry, I have not heard of this company, yet there are several "refineries" out there that I may not be aware of.

I quote "refineries" because many of these places are infact just smelters, who then turn around and sell their dore bars to an actual refinery. - but I did look at their website, and it is very nice. (more than what I can say about our current one)

I am sorry I was unable to help answer your question though.
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harpua63

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Post January 3rd, 2012, 6:03 pm

Re: Precious Metal Refining Services ( PMRS )

PMRS is a full service refinery offering complete refining and assaying of both low and high grade materials. Everything is done in house (karat, silver, sweeps, filters, filings, etc), without middle-men.
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jimmydolittle

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Post January 3rd, 2012, 6:30 pm

Re: Precious Metal Refining Services ( PMRS )

What type material are you talking about, karat gold or electronics? It will depend on the material. Some places only take karat gold, silver, etc.
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Oz

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Post January 4th, 2012, 2:55 am

Re: Precious Metal Refining Services ( PMRS )

harpua63 wrote:PMRS is a full service refinery offering complete refining and assaying of both low and high grade materials. Everything is done in house (karat, silver, sweeps, filters, filings, etc), without middle-men.

You say that with great confidence, are you a principle there harpua63?
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harpua63

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Post January 4th, 2012, 2:58 pm

Re: Precious Metal Refining Services ( PMRS )

Oz wrote:
harpua63 wrote:PMRS is a full service refinery offering complete refining and assaying of both low and high grade materials. Everything is done in house (karat, silver, sweeps, filters, filings, etc), without middle-men.

You say that with great confidence, are you a principle there harpua63?



I am in management, but not a principal.
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harpua63

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Post March 3rd, 2012, 3:38 pm

Re: Precious Metal Refining Services ( PMRS )

We just launched a new website yesterday that incorporates a live gold feed (faster than Kitco) and would love any feedback....


http://pmrs-refining.com

Thanks!
Last edited by harpua63 on March 4th, 2012, 5:37 pm, edited 1 time in total.
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goldsilverpro

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Post March 4th, 2012, 10:48 am

Re: Precious Metal Refining Services ( PMRS )

harpua63 wrote:We just launched a new website yesterday that incorporates a live gold feed (faster than Kitco) and would love any feedback....


pmrs-refining.com

Thanks!


At first glance, I like the website. I agree where it says that X-rays are for broken bones.
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scrapman1077

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Post March 4th, 2012, 10:45 pm

Re: Precious Metal Refining Services ( PMRS )

No payout %, no minimum lot size listed?
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harpua63

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Post March 5th, 2012, 2:07 pm

Re: Precious Metal Refining Services ( PMRS )

scrapman1077 wrote:No payout %, no minimum lot size listed?



We prefer not to post specific rates, as each customer is different, and our rates are determined by volume. I can say that they start at 98% on au and go up from there. As for lot sizes, it is not posted either, but in general, we request a minumum of 5ozt for gold and 20ozt for silver
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MiguelRosas

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Post March 5th, 2012, 5:36 pm

Re: Precious Metal Refining Services ( PMRS )

goldsilverpro wrote:
harpua63 wrote:We just launched a new website yesterday that incorporates a live gold feed (faster than Kitco) and would love any feedback....


pmrs-refining.com

Thanks!


At first glance, I like the website. I agree where it says that X-rays are for broken bones.




Goldsilverpro -
Ouch..... (pun intended)

As an XRF advocate I think that was really funny.... :lol: :lol:



Harpua63 -
Gorgeous site! I really like the simplicity and modern feel, and the photos are great too.
(ps. we need to talk again)
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harpua63

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Post March 12th, 2012, 9:39 am

Re: Precious Metal Refining Services ( PMRS )

Thanks Miguel!

Over the weekend we also added a page for historical London Fixing (linked by the little calendar on the live feed bar), along with a few minor tweaks to the site....

http://pmrs-refining.com/

http://pmrs-refining.com/london-fix/
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harpua63

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Post August 26th, 2012, 7:32 pm

Re: Precious Metal Refining Services ( PMRS )

PMRS was named #211 on the 2012 Inc. 500 list of the fastest growing private companies in America.

http://www.inc.com/inc5000/profile/prec ... g-services
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Lou

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Post August 26th, 2012, 7:50 pm

Re: Precious Metal Refining Services ( PMRS )

Congratulations!

Must mean good customer service and good IP.
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bbitt

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Post January 15th, 2013, 5:23 pm

Re: Precious Metal Refining Services ( PMRS )

I just sent them my first lot. I'll be sure to let you know how it goes!

Did you (or anyone else) end up going with them? How were your results?
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bbitt

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Post February 5th, 2013, 12:14 pm

Re: Precious Metal Refining Services ( PMRS )

Quick update to let you know my results were 15-25% lower than expected.
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4metals

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Post February 6th, 2013, 10:52 am

Re: Precious Metal Refining Services ( PMRS )

bbitt,

The refining businesses that post on this section are one way our members can sell their material and continue buying and as such we (the members of this forum) need them. I have noticed that you have not posted anything on this forum other than your criticism of PMRS. To be fair you should now explain what materials you had and how you were able to quantify your expectations. It is easy to criticize but for it to be meaningful you should post some details for discussion. They (PMRS) are a business and I'm sure they work hard to maintain their reputation in the industry, to just slam them when we know nothing about the slammer is not fair.

Some details please!
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tek4g63

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Post February 6th, 2013, 12:06 pm

Re: Precious Metal Refining Services ( PMRS )

4metals wrote:bbitt,

The refining businesses that post on this section are one way our members can sell their material and continue buying and as such we (the members of this forum) need them. I have noticed that you have not posted anything on this forum other than your criticism of PMRS. To be fair you should now explain what materials you had and how you were able to quantify your expectations. It is easy to criticize but for it to be meaningful you should post some details for discussion. They (PMRS) are a business and I'm sure they work hard to maintain their reputation in the industry, to just slam them when we know nothing about the slammer is not fair.

Some details please!


Here, here!

I have been guilty, more than once, of estimating ( guessing ) that there was more gold in material than there really was. Wishful thinking I suppose. I know better now, and never make guesses, only work with hard data when estimating returns.
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bbitt

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Post February 6th, 2013, 12:25 pm

Re: Precious Metal Refining Services ( PMRS )

I am waiting to hear back from PMRS before posting details. I want to make sure there were not any errors on their end that they may have missed. I do not believe I will hear from them until tomorrow at least. After I have had a chance to speak with them I will be happy to provide details to the forum. Thanks for your inquiry.
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bbitt

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Post February 16th, 2013, 11:03 am

Re: Precious Metal Refining Services ( PMRS )

I sent __ lbs of material very similar to that which I have had processed for the last 18 months or so. I was attempting to find a refinery which could process faster and that paid a bit higher than my previous business arrangement. PMRS was quick to offer no assay fees, free shipping and a payout 4% higher than I had dealt with in the past. I agreed to the terms and sent the lot.

The first issue I had was in regards to a small amount of karat gold sent. Included in the shipment was just over 3 ounces of karat scrap. The karat was almost all unmarked. Each piece had been examined, cut and acid tested. I received a call informing me that it was determined the karat scrap sent was "not gold" but rather thick plated material. My account manager informed me the copper content was too high, a sign it was not solid. He offered to send it back, but since I wanted it processed and to get paid for it, I indicated for them to add it to the rest of the lot.

I have had one lot a month processed by a single refiner during the previous six months, each coming in with little variance (3-6%). The lot sent to PMRS was of the same quality as these previous five lots, but came out significantly lower, 15-25% when accounting for the 3 ounces of karat present in the lot.

My sales agent was less than helpful, not returning my calls (granted he was out sick for some part of that time). I heard from another agent who was apologetic, but could offer me no insight. He indicated he would have the refining manager call. That was 4 days ago and I have still heard no word.

Not pleased, and I would not recommend.
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butcher

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Post February 20th, 2013, 9:46 am

Re: Precious Metal Refining Services ( PMRS )

Could you have made a mistake in testing, you did state some of the material was unmarked.

It seems they would send back material that was not karat if you had indicated you wanted it back.

Unless you melted the lot into a bar mixed it well in the melt, and had drilled an had assay of the bar how do you know what you sent them for sure.

I can understand how you may feel you have lost money in this transaction, but I could not judge the company from the details you have stated here, it sounds like too much room for error for me to make that judgement.
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qst42know

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Post February 20th, 2013, 6:03 pm

Re: Precious Metal Refining Services ( PMRS )

With a 10% spread in your own expectations you would be a difficult customer to please no mater what the outcome.

Put yourself in their shoes. You find a problem and report it, then offer to return the questionable items and are told to run it anyway. Essentially destroying the evidence of the negative findings.

You should have had the bad material returned to you (as offered), you could have seen what they saw and learned something from it. The transaction as described leads me to believe they did what they were asked to. They did their part.
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Palladium

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Post February 20th, 2013, 7:13 pm

Re: Precious Metal Refining Services ( PMRS )

I have found that to be a problem with customers in the past also. Now when i find an item i notify the customer just like they did and ask them what to do. I recommend i return the item to them so they can learn from it or resell it to realize a better profit margin. If they say run it, then i run it. At that point it's anybodies guess. Then again i do have a philosophy that i live by and i make all my customers aware of also: " What comes out the beaker...... comes out the beaker " In other words either it's there or it isn't. If I've done my job correctly all the calculating in the world doesn't matter. The reality of it is that it's either there or not.
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nickvc

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Post February 21st, 2013, 3:26 am

Re: Precious Metal Refining Services ( PMRS )

It's a real problem in this business, expectation versus reality. We are all guilty of it especially when we have unknown materials and even when we refine it ourselves, rarely does the result exceed our expectations but with experience we tend to lower those expectations. It's very easy to blame others for bad results and I know some refiners do cheat given half a chance but with an up and coming business and a first transaction it would seem utter folly to try and rip off bbitt deliberately and in fairness to PMR they did say they found dubious items in the karat scrap and offered to return it rather than just blaming that for the result later, standard trick to smooth over their return. Another point to consider is whether we are talking dollars or gold in the variance, the metal prices are sliding downwards at present.
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Echelon1

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Post July 16th, 2013, 3:17 pm

Re: Precious Metal Refining Services ( PMRS )

I used them ONCE. Known sets of sterling at 62+ ounces.. came back as 56... yet my gold weight came back as 96% of my weight.. funny, I use the same scale they use. Now if thats the case.. just in weight.. how did my silver come back after assay at just 12 ounces?

They claim they use photographs, but wont provide them, they claim they use assay but wont provide it... only "hey by the way, over the phone or non company letterhead receipts or analysis".

Stay away from them!!!!!!!! FRAUD ALL OVER IT
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Uljunky

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Post March 31st, 2014, 5:33 pm

Re: Precious Metal Refining Services ( PMRS )

I have sent many batches of PT to PMRS. I have never sent more than 6 ounces, all batches assyed from 85-92% per their testing. I know that I have sent in less than pristine batches (85%) and some that I thought were very clean (92%). I can't seem to get the iridium out which is a shame since they don't pay for it on the batch sizes I have sent thus far.

I will be sending in a gold batch soon.

I will continue to be a customer. I am happy with their business practices to date. I always recieve a check quickly.......their communication is not the greatest but they are fair and fast. Maybe if I saved up and sent larger batches things would be different communication wise. Not a problem for me though. If I want to chat I can always come here.
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goldenchild

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Post March 31st, 2014, 9:02 pm

Re: Precious Metal Refining Services ( PMRS )

For anyone that's not happy with a certain refiner or has distrust in refineries in general... maybe it's time to learn how to do it yourself and you will know exactly what you have before selling. Just sayin.
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