Precious Metal Refining Services
Precious Metal Refining Services is a privately held boutique refinery in Barrington, Illinois that uses fire assay, atomic absorption, and custom induction melting to refine gold, silver, platinum, and palladium for SMB jewelers, pawn brokers, coin dealers, dentists, dental labs, crematories, and collectors across all 50 US states and Canada, settling within 24-48 hours.
- Company typePrivate
- Founded1976
- HeadquartersBarrington, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Precious Metal Refining Services does
Precious Metal Refining Services, Inc. (PMRS) is a privately held, boutique precious-metals refinery headquartered at 1531 South Grove Ave., Barrington, Illinois. Founded in 1976 as an industrial refiner specializing in silver recovery from photographic film, the company has evolved into a full-service refinery processing gold, silver, platinum, and palladium from a fragmented SMB customer base that includes jewelers, pawn brokers, coin dealers, dentists, dental labs, medical imaging facilities, crematories, device manufacturers, and individual collectors across all 50 US states and Canada. The business is supported by 11-50 employees and operates without disclosed external funding or parent-company ownership.
The technical core is an on-premises wet chemistry laboratory using fire assay, atomic absorption (AA), inductively coupled plasma (ICP), and X-ray fluorescence (XRF), complemented by custom-built induction melting furnaces engineered to minimize burn-off. An aqua regia process enables stone removal and return for jewelry customers, and a full-time chemist is responsible for assay accuracy stated at one part per 10,000. Customer lots are priced off the second London Fix on the day after receipt, with optional price locking, free prepaid insured UPS shipping for standard volume, Brinks truck pickup for high-volume lots, and settlement issued by wire, check, bullion, casting grain, or consignment pool credit within 24-48 hours.
PMRS earns revenue primarily through the spread between published metal prices and settlement rates paid to customers, effectively a transactional refining fee embedded in the price differential rather than a separately disclosed service charge. Go-to-market is sales-led, relying on dedicated account managers, direct phone and email engagement, a company website, organic social presence on Facebook and LinkedIn, and word-of-mouth referrals from a base of 150+ reviewed customers. The company emphasizes no hidden fees, full AML compliance under the USA Patriot Act of 2001, and transparent itemized settlement statements as its primary competitive differentiators.
Precious Metal Refining Services firmographics
Firmographics- Name
- Precious Metal Refining Services
- Legal name
- Precious Metal Refining Services, Inc.
- Website
- https://pmrs-refining.com
- Company type
- Private
- Founded year
- 1976
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Precious Metal Refining Services is a privately held boutique refinery in Barrington, Illinois that uses fire assay, atomic absorption, and custom induction melting to refine gold, silver, platinum, and palladium for SMB jewelers, pawn brokers, coin dealers, dentists, dental labs, crematories, and collectors across all 50 US states and Canada, settling within 24-48 hours.
- Ownership category
- akta.pro rank
Precious Metal Refining Services industry classification
Industry- Product category
- Precious Metal Refining
- NAICS
- Nonferrous Metal (except Aluminum) Smelting and Refining (33141), Nonferrous Metal (except Aluminum) Production and Processing (3314)
- SIC
- Primary Smelting & Refining Of Nonferrous Metals (3330), Secondary Smelting & Refining Of Nonferrous Metals (3341)
- akta.pro primary industry
- Precious Metals Smelting & Refining (IMAKAEAE)
- akta.pro secondary industry
- Precious Metals Assaying, Metallurgical Testing & Certification (IMAKAEAK)
Keywords
Where Precious Metal Refining Services is headquartered
LocationHeadquarters
- HQ city
- Barrington
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Precious Metal Refining Services business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Precious Metal Refining Services: PMRS processes customer materials containing gold, silver, platinum, and palladium. Customers ship their scrap precious metals to the refinery where materials are weighed, photographed, and analyzed via fire assay. Customers receive payment according to agreed return rates for all metals contained in their lots, as determined by PMRS's analysis procedures. PMRS acts as a direct end-user refiner, cutting out middlemen to maximize customer payouts. Revenue is derived from the spread between market metal prices and settlement rates paid to customers, minus processing costs.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels5 records
Precious Metal Refining Services product offering
Product offeringCore offering
Precious Metal Refining Services (PMRS) is a boutique refinery that processes customer-supplied scrap and feedstock materials containing gold, silver, platinum, and palladium. The company determines metal content via in-house lab-grade fire assay, atomic absorption, and ICP testing, then settles with customers within 24-48 hours. It serves jewelers, pawn shops, coin dealers, dentists, dental labs, and other industries across all 50 US states and Canada.
Product overview
Precious Metal Refining Services (PMRS) operates as a boutique full-service refinery offering a unified refining platform centered on fire assay methodology. The core product is the PMRS refining service, which combines precision fire assay testing, custom induction melting, and fast settlement payments (24-48 hours) for gold, silver, platinum, and palladium. Additional service modules include stone removal using Aqua Regia, secure prepaid shipping via UPS (with Brinks for high-volume), and flexible payment options including wire, check, bullion, casting grain, and pool account consignment. The company serves diverse industries including jewelers, pawn brokers, coin shops, collectors, dentists, dental labs, medical facilities, device manufacturers, film processors, and deathcare providers. Compliant with AML/BSA requirements, PMRS operates from its Barrington, Illinois refinery with laboratory and processing facilities.
Differentiator
Problem solved
Functional benefit
Quantifiable outcome
- Fastest full-payment turnaround in the industry (24-48 hours after assay)
- +2 more outcomes
Companies that use Precious Metal Refining Services
Customer profileNamed customers2 records
Segments8 records
Ideal customer profiles6 records
Precious Metal Refining Services technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Precious Metal Refining Services partnerships and signals
Strategic signalScale indicators3 records
Recent moves6 records
Expansion highlights5 records
Precious Metal Refining Services competitors and assessment
Company assessmentBroad incumbents
- Materion Corporation: US-listed advanced materials company with a precious metals refining and products division serving industrial, aerospace, and electronics customers — overlaps with PMRS in precious-metals refining but at significantly larger scale with broader product portfolio.
- Johnson Matthey (now JM): UK-based global precious metals refiner with operations across gold, silver, platinum group metals, and industrial catalysis — directly comparable in refining services but operates at much larger scale with broader industrial end markets.
- Heraeus Precious Metals: Global German-based precious metals refiner and trader operating across gold, silver, platinum group metals, and industrial applications — overlaps with PMRS in core refining but operates at vastly larger scale with integrated trading and industrial customers.
- Tanaka Kikinzoku Kogyo: Major Japanese precious metals refiner and fabricator with global operations spanning gold, silver, platinum group metals, and industrial catalysis — directly comparable refining activity but at enterprise scale with much broader product portfolio.
Direct peers
- Manhattan Gold & Silver: US precious metals refiner serving jewelers, pawn brokers, dental labs, and industrial customers with gold, silver, and platinum group metals refining — comparable customer mix, service offering, and boutique positioning.
- David H. Fell & Company: Long-standing California-based precious metals refiner serving jewelers and industrial accounts with gold, silver, and platinum group metals recovery — comparable in customer base and SMB-focused service model.
- Garfield Refining Company: Boutique US precious metals refiner based in Philadelphia serving jewelers, pawn shops, dentists, and industrial customers with gold, silver, and platinum group metal refining — directly comparable to PMRS in customer mix, scale, and boutique service model.
- Dillon Gage: Texas-based precious metals refiner and bullion dealer serving jewelers, pawn shops, and investors with refining and trading services — directly comparable in horizontal precious-metals refining and SMB customer mix.
- Pease & Curren: Rhode Island-based full-service precious metals refiner serving jewelers, dentists, and industrial accounts with gold, silver, platinum, and palladium refining — directly comparable in end-market focus and mid-sized boutique positioning.
- Sabin Metal Corporation: US precious metals refiner specializing in platinum group metals recovery from industrial and automotive catalysts, with broader precious-metal refining capabilities — comparable in core refining activity and precious-metals focus.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
Precious Metal Refining Services social profiles
Digital presencePrecious Metal Refining Services compliance and trust
Trust signalCompliance1 record
Precious Metal Refining Services financial estimates
Financial estimateRevenue estimate
Valuation estimate
Precious Metal Refining Services leadership team
Management profileNumber of profiles
Profiles1 record
Precious Metal Refining Services funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Precious Metal Refining Services M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Precious Metal Refining Services
What does Precious Metal Refining Services do?
Precious Metal Refining Services (PMRS) is a boutique refinery that processes customer-supplied scrap and feedstock materials containing gold, silver, platinum, and palladium. The company determines metal content via in-house lab-grade fire assay, atomic absorption, and ICP testing, then settles with customers within 24-48 hours. It serves jewelers, pawn shops, coin dealers, dentists, dental labs, and other industries across all 50 US states and Canada.
Is Precious Metal Refining Services a public or private company?
Precious Metal Refining Services is a private company. It is classified as unknown and is currently operating.
When was Precious Metal Refining Services founded?
Precious Metal Refining Services was founded in 1976. It employs 11 to 50 people.
Where is Precious Metal Refining Services based?
Precious Metal Refining Services is headquartered in Barrington, United States, in the North America region.
How does Precious Metal Refining Services make money?
One revenue line is on record: precious Metal Refining Services.
Who are Precious Metal Refining Services's main competitors?
Broad incumbents on record are Materion Corporation, Johnson Matthey (now JM), Heraeus Precious Metals and Tanaka Kikinzoku Kogyo. Direct peers are Manhattan Gold & Silver, David H. Fell & Company, Garfield Refining Company, Dillon Gage, Pease & Curren and Sabin Metal Corporation.
Does Precious Metal Refining Services have an API?
No public API is recorded for Precious Metal Refining Services.
What industry is Precious Metal Refining Services in?
Precious Metal Refining Services's product category is Precious Metal Refining. Its primary akta.pro industry code is IMAKAEAE, Precious Metals Smelting & Refining, with a secondary code of IMAKAEAK, Precious Metals Assaying, Metallurgical Testing & Certification. Its NAICS code is 33141 and its SIC code is 3330.