Whoever coined the phrase“money doesn't grow on trees”clearly didn't work in the jewelry industry. But while it's true that many manufacturers' profits start out as casting trees, it's the valuable filings and polishing dust leftover from finishing those pieces that they must monitor carefully. The same premise holds true for the custom designer, whose focus on the spectacular one-of-a-kind piece he is crafting must shift to the gold dust that's walking out the door of his studio on the soles of his shoes.

Record high metals prices have made it even more important to account for every last bit of precious metal scrap. Whether you are a small shop jeweler or a high-volume manufacturer, the following money-saving suggestions and tips for effectively segregating scrap, managing metal, and raising refining returns will help you ensure that you aren't leaving your profits in the dust.