KMG Gold Recycling USA KMG Gold Recycling Canada
02/01/2023 2:15 AM     Current Market Price:     Gold:  $1,923.78/ozt   Silver:  $23.56/ozt   Platinum:  $1,028.97/ozt   Palladium:  $1,691.93/ozt  

Friday, August 20, 2021

City of Winnipeg Kills Cash For Gold Business


No More Cash For Gold

City of Winnipeg Precious Metals Dealer By-Law Kills Cash For Gold

Recent changes made by council to the City Of Winnipeg Doing Business in Winnipeg By-law require that KMG Gold Recycling® now must conduct business exclusively by "commercial transaction".

On July 22, 2021, City of Winnipeg Council passed amendments to the Doing Business in Winnipeg By-law No. 91/2008.

The amendments require licensed Precious Metals Dealers to ensure that goods they buy are not disposed of until at least 30 days have elapsed after reporting the purchase to the Chief of Police. The previous time period for holding purchases after reporting to police was 15 days.

Holding purchases for 15 days was a reasonable time for the police to investigate and search for stolen items amongst our purchases. It was also a reasonable amount of time for us to cooperate with law enforcement.

30 days is unreasonable.

Not being able to sell the gold jewellery that we purchase for 30 days, in the volitile precious metals market is economically unviable.

Therefore, effective immediately, we shall conduct all business exclusively by "commercial transaction".



Don't like it?

Neither do we.

Contact the decision makers:

The Doing Business In Winnipeg By-law is available online HERE

If you are selling stolen property, please go to any of our competitors who pay cash and don't require I.D. or the travelling gold buyers that set up just outside the city limits so they don't require a license.

This by-law Amendment has nothing to do with mitigating crime and everything to do with power.

Posted by Michael Gupton at 3:59 PM 0 Comments

Thursday, December 28, 2017


January 2, 2018. Winnipeg MB Canada

KMG Gold Recycling opens the doors on its new home, processing facility and head office at 1220 Pembina Hwy in Winnipeg Manitoba Canada. The doors will open January 2, 2018 Monday to Friday, 9:30-5:30

This new building, a former bank complete with impenetrable vault, will be the new head office and processing centre for the world famous, KMG Gold Recycling.

KMG Gold Recycling founder and President, Michael Gupton says the new facility will house a gold depository, silver repository and will have the ability for customers to securely store gold and silver coins, bars, wafers and precious metal items in the first of its kind secure vault. Complete with after hours gold scrap depository services.

KMG recently opened a new gold buying outlet at 1514 Regent Av W, in Transcona, a suburb of Winnipeg, just three months ago.

KMG Gold Recycling started recycling and buying gold, silver, platinum, and palladium in 2007 and fast became the premier, published, and world famous source for the general public to recycle their unwanted gold jewelry, gold and silver coins, junk silver, platinum thermocouple wire, and dental gold such as gold crowns. Their success lies partly in their efforts to educate consumers about the precious metals recycling industry and how they can get the most money for their unwanted gold, silver, platinum and palladium.

KMG Gold Recycling has 4 locations in Canada and the United States. 620 Academy Rd Winnipeg, 1514 Regent Av Winnipeg, 1220 Pembina Hwy Winnipeg, and 1003 S. Washington St Grand Forks ND

Please visit for updates, locations, hours of operation, and also follow KMG Gold Recycling on Call toll free 1-877-468-2220
KMG Gold Recycling buys, recycles, refines, stores, insures and manufactures precious metals of any kind.

Posted by Mike Gupton at 1:18 PM 0 Comments

Tuesday, August 18, 2015

Support Manitobans with disabilities. Donate to 2015 SMD Dropzone Winnipeg today!
Please sponsor Michael Gupton, president of KMG Gold Recycling as he will rappel 200 feet down the Royal Bank building in Winnipeg August 20, 2015 to raise funds for SMD Manitoba, Easter Seals, DropZone Winnipeg.
If you've ever wanted to throw Michael Gupton off a building, here's your chance.
Please sponsor Michael Gupton and donate to SMD DropZone Winnipeg 2015 today! Click here:

SMD DropZone

Posted by Michael Gupton at 4:02 PM 0 Comments

Wednesday, August 05, 2015

Become a Superhero for children, youth and adults with disabilities in Manitoba by participating in the Easter Seals Drop Zone

#Help @EasterSealsMB #donate to #DropZoneMB. Throw @Mike_Gupton @kmggold off a building. Kimberlee too! We need to raise at least $5000 by August 13th.

Become a Superhero for children, youth and adults with disabilities in Manitoba by participating in the Easter Seals Drop Zone in Winnipeg, Manitoba on Thursday, August 20, 2015! This unique and exciting event gives you the opportunity to rappel 200 feet down the RBC Building at 220 Portage Avenue.

SMD Foundation is the fundraising member of the SMD family, working to raise two equally important things: funds and awareness. As the official provincial affiliate for Easter Seals Canada, SMD Foundation also conducts activities under the Easter Seals Manitoba banner.

Fundraising is essential to maintaining, expanding and improving the SMD programs and services so many Manitobans living with disabilities depend on. Awareness is vital in promoting a greater understanding of disabilities, which gives people a compelling reason to give.

Everyone knows someone with a disability. It may be a friend, a neighbour or a member of the family. It may be someone with a physical disability that they've had since birth or that is the result of an injury. It may be someone with an invisible disability such as Deafness or a chronic condition. It may be someone very young or an older person who has developed an age-related disability. No matter what a person's age or disability might be, SMD Foundation/Easter Seals Manitoba is there, supporting the programs and services that support others.

SMD Foundation/Easter Seals Manitoba is dedicated to helping Manitobans with disabilities achieve their full individual potential and independence. As we work towards achieving our vision for the future, we want to share with you all of our tremendous accomplishments.

By supporting SMD Foundation/Easter Seals Manitoba through various fundraising campaigns, programs, events and initiatives you have truly made a difference.

To all our loyal supporters that dedicated their precious resources (time & money) to SMD Foundation/Easter Seals Manitoba over the past year, we appreciate and applaud your commitment.

Posted by Michael Gupton at 11:35 AM 0 Comments

Friday, April 10, 2015

Help Fight Cancer: Donate Cash, Gold, Silver Jewelry at KMG Gold

You're invited to a gold party! All in support of cancer research and the Canadian Cancer Society.

All this month, KMG Gold Recycling will be hosting the biggest gold party ever held in Winnipeg, to raise funds for the Canadian Cancer Society, Manitoba Branch.

Everyone recycling old, unwanted gold jewellery, gold or silver coins, or other precious metal will have the opportunity to donate all or a portion of the appraised value of their items, to the Canadian Cancer Society. 

Bring in all your unwanted gold, silver jewellery and KMG will analyze it for free. And if you wish to donate any or all of the proceeds to the Canadian Cancer Society - Good On You!!

If you live outside Winnipeg and cannot make it to KMG Gold, visit and order your Secureship(TM) Envelope with complete instructions on how you can participate in this special event right from your own home.

Posted by Mike Gupton at 12:00 PM 0 Comments

Thursday, August 28, 2014

Quiet Pre-Holiday Trading
A quiet and subdued day in the precious metals market today, with pre-holiday trading holding gold in a narrow range.

Gold opened at $1284 in the Far East and drifted higher though the European hours, touching the high of $1287.00 on a slight weakening of the U.S. Dollar.  New York opened at $1286 retested the highs but drifted back off on a steady equity opening and general lack of interest.  Falling back to $1283, gold aimlessly traded between $1282 and $1284 for the rest of the session, closing the day $1283.75.

Note: The U.S. Dollar has been making continued new highs for quite a while; some technical analysts are beginning to write that they think it is overbought.  Such a retreat would be positive for gold.

Posted by Michael Gupton at 12:00 AM 0 Comments

Friday, August 15, 2014

It's the middle of August, What's Up...or down with Gold?

 Another back and forth day in the metals market as another piece of temporarily disconcerting economic news rallied the market early but was offset later on in the day by some conciliatory remarks by Vladimir Putin which was interpreted to slightly diffuse the Ukrainian crisis and help to lift the equity markets.

Opening at $1313 in Asia, gold initially moved lower to $1311.50 but recovered nicely through their afternoon and the early European hours to $1316.50.  Poor economic reports out of the Euro Zone (GDP 0.0%) and month on month CPI (-0.7% - year over year 0.4%)) renewed calls for increased stimulus and put pressure on gold later in the session, pushing the metal down to $1309 prior to the New York open.

A higher than expected Jobless Claims number of 311K (cons. 295K) caught the market by surprise given the recent constructive readings of the last few months.  Gold quickly rose to the intra-day high of $1319 as the U.S. Dollar also took a hit on the news.  Retreating back to $1312 on comments by Putin that Russia would defend itself, but should not "fence itself off from the outside world", triggered quick profit taking in a thin summer market.  The metals settled in to an afternoon trading range, covering either side of a $1311.50 - $1314.50 more than once.  Gold finished quietly at $1312.80.

Posted by Michael Gupton at 12:00 AM 0 Comments

Wednesday, April 02, 2014

Gold Bullion from Around the World

Just like the silver bullion that makes its way into KMG Gold, gold bullion is another popular item for us. Since we buy and sell gold bullion in all shapes and sizes, we have a lot of interested customers who purchase the gold bullion as a form of investment. As we mentioned in our last post about silver bullion, many investors prefer to purchase bullion in precious metal form because it protects against inflation and deflation.

Gold bullion coins and bars can be sold in many different ounces and come from various mints or mines from around the world. Gold coins vary anywhere in purity from .900 to .9999 and different mints have changed the gold content of the gold coins throughout the years. They are sold for more than their face value because of their high gold content so their face value is merely symbolic on the coins.

Here are some of the world's most popular gold bullion coins:
  • USA - Gold Eagle. Released by the United States Mint in 1986. The Mint also produces the American Buffalo and Double Eagle gold bullion coins.
  • Canada - Gold Maple Leaf. Released by the Royal Canadian Mint in 1979.
  • Australia - Gold Nugget. Released by the Perth Mint in 1986. One of the few countries which changes the coin's design every year. The Perth Mint also produces the Lunar Series I (1996-2007) and II (2008-2019) coins.
  • China - Gold Panda. Released by the People's Republic of China in 1982. One of the few countries which changes the coin's design every year.
  • United Kingdom - Gold Britannia and Sovereign. Released by the Royal Mint in 1887 and has been released off and on again through the present.
  • Mexico - Gold Libertad. Released by the Mexican Mint in 1981.
  • Austria - Gold Philharmoniker. Released by the Austrian Mint in 1989.
  • Russia - George the Victorious. Released by the Saint Petersburg Mint in 2006.

KMG Gold Gold Bullion Coins

KMG Gold often has a few of these different types of gold bullion coins (along with some bars) in stock at any given time, so just give us a call and we'll let you know what we have available for purchase!
Posted by Mike Gupton at 12:00 PM 0 Comments

Wednesday, March 26, 2014

Cutest Coins Ever Made? Anne Geddes For the New Zealand Mint

Photographer Anne Geddes has been long known for her adorable pictures of babies who are often photographed dressed as fairies, fairytale creatures, flowers and little animals. Her images have been published in books and calendars in 83 counties, and Geddes has proven herself to be a savvy photographer, clothing designer and businesswoman. Born in Australia and now living in New Zealand, Geddes has created a limited edition collection of coins for the New Zealand Mint.

Each of the four coins depicts a baby in typical Anne Geddes style - very cute, curdled up and sleeping! Each coin comes has a face value of $2 and is made of 999 fine silver. The first two coins in the collection were issued in 2012 (the babies sleeping on and in flowers) with additional ones issued in 2013 (baby in a cocoon) and 2014 (Christmas themed).

Sadly KMG Gold doesn't have any of these awesome coins in stock, but we promise we sell a wide range of other (slightly less cute) coins and bullion!
KMG Gold Recycling Anne Geddes NZ Mint Coins
Posted by Mike Gupton at 12:30 PM 0 Comments

Wednesday, March 19, 2014

What to Expect When You Visit KMG Gold

As you've probably heard by now, at KMG Gold we're known for our awesome customer service. We've been recognized by the BBB as an accredited business and we've even won five BBB Torch Awards for our outstanding customer service and business practices.

But if it's your first time selling your unwanted jewellery or other types of precious metals, you might not know what to expect or feel intimidated by the process. The good news is that we make it our goal to make our customers feel very comfortable and explainKMG Gold xray machine everything we do, step by step. Whether you've recycled with us a hundred times before or if it's your first time ever, we'll walk you through the entire process from the moment you step in the door.

And if you don't want to take our word for it, check out our Facebook reviews and see for yourself! The big theme we're noticing throughout the reviews is how happy our customers are that we explain everything to them, no matter how minor it seems. One of the foundations that we built this business on was customer education and it's still an important part of our mandate.

When you walk through our door, we'll ask if you've ever been here before and then invite you to place what you've brought in on a tray. Then we'll run a magnet over the metals to see if they're magnetic. Gold and silver aren't magnetic so if the magnet picks up the jewellery, it means it's just costume jewellery, which we don't purchase. After this, we'll use a jeweller's loupe to see if the metal has any markings on it, like 10K or 18K or 999. If it's silver, we'll make a notch in the metal and use acid to test if it is genuine. This does hurt the piece of metal or jewellery, but we always get your permission to make sure that it's okay before we do it!

If the item is gold or something other than silver, we might run it through our x-ray machine to get a quick and accurate analysis of the exact metal contents of the item. Putting the item in the x-ray machine doesn't do any damage to it, but we'll be sure to remind you of it just in case you're worried!

So don't be shy, come down to 620 Academy Road and we'll give you a complimentary assessment of whatever you've brought in to us. And if this is really interesting to you, you can even buy your own metal testing supplies at do what we do from inside your home!

Pictured: The KMG Gold xray machine.

Posted by Mike Gupton at 12:00 PM 0 Comments

Wednesday, March 12, 2014

Silver Bullion From Around the World

Silver bullion coins are very popular here at KMG Gold, with many people seeking them out as a form of safe investment. Many investors prefer silver (and gold) bullion to cash because they protect against inflation and deflation.

Although silver isn't typically used in currency anymore (Mexico is the only country that uses very small amounts in its coins), mints around the world produce their own silver bullion coins that investors and collectors enjoy. Oftentimes, with each new issue of the silver bullion coin in a year, the design will vary slightly but still obtain the coin's original theme.

Silver bullion coins and bars can be sold in many different ounces and come from various mints or mines from around the world. These silver coins and bars are typically 99.9% pure and labelled with ".999". They are sold for more than their face value because of their high silver content, for example, the United States 999-fine Silver Eagle bullion coin only has a face value of one dollar.

Here are some of the world's most popular silver bullion coins:
  • USA - Silver Eagle. Released by the United States Mint in November 1986 and has a face value of $1.
  • Canada - Silver Maple Leaf. Released by the Royal Canadian Mint in 1988 and has a face value of $5.
  • Australia - Silver Kookaburra. Released by the Perth Mint in 1990 and the one troy ounce coin has a face value of $1. Australia also has a Silver Kangaroo which was first minted by the Royal Australian Mint in 1993 and has a face value of $1.
  • China - Silver Panda. Released by the People's Republic of China in 1983 and comes in various sizes with various face values. The one troy ounce coin has a face value of 10 Yuan.
  • Britain - Silver Britannia. Released by the Royal Mint in 1997 and has a face value of 2 pounds.
  • Mexico - Silver Libertad. Released by the Mexican Mint in 1982. These coins do not have a face value.
  • Austria - Silver Vienna Philharmonic. Released by the Austrian Mint in 2008 and has a face value of 1.50 Euro.
  • Russia - George the Victorious. Released by the Saint Petersburg Mint in 2009 and has a face value of 3 rubles.
If you're interested in purchasing silver (or gold or sometimes even platinum!) bullion coins or bars from KMG Gold, please give us a call at 1-877-468-2220 or shop online to see what we have in store. We would be more than happy to set anything you'd like aside for pickup - even if it's not silver bullion
KMG Gold Silver Bullion
Posted by Mike Gupton at 11:30 AM 0 Comments

Wednesday, March 05, 2014

10 Things You Didn't Know About Coin Collecting

Source: Paul Fraser Collectibles

KMG Gold Buys Sells Coins and Numismatics1. Romans began collecting coins as early as 100 AD. Although collecting gold and silver bullion coins has taken place for hundreds of years, the common belief was that coin collecting as we know it today began during the Italian Renaissance. However, new evidence has come to light that suggests Emperor Augustus was interested in collecting coins, often giving old and foreign coins to his friends. One of the first commemorative coins produced was created under the reign of Trajanus Decium (AD 249-251) and depicted all of Rome's deified rulers.

This term describes the study of items of numismatic interest, aside from coins and notes. These items often appear under the "exonumia" heading under the backs of catalogs and some examples of these are the altered "hobo nickels" of the US, or China's good luck money charms, both of which are collectible.

3.Stamps were once used as currency
At the beginning of the civil war, American citizens began to hoard coins because they were worried about potential shortages. This, along with trade disruptions from the Confederate Army, led to a shortage of silver and copper-nickel coins and made small transactions nearly impossible.

In response to this, the Postal Currency Act was signed and the public was allowed to use stamps as currency. Inventor John Gault then came up with the idea of encasing the stamps in a small metal container to protect them and even had space for advertising on the back of the container.

4.Coin production is faster than ever
It took the United States Mint two years to produce its first million coins but the Philadelphia Mint can now produce the same amount in 45 minutes. In 2013, the US Mint produced 11.9 billion coins!

5.Current US $100 bills have a slight, conspiratorial difference in them
The clock in the vignette of Philadelphia's Independence Hall on the $100 bill is set to 4:10. However, on the new $100 bills released on October 8, 2013, the clock's hand now reads 10:30. Although there is apparently no significance in the times, the change has conspiracy theorists up in arms!

6.Uzbekistan has the least valuable currency in the world
In 2013 the BBC released a list of the world's least valuable currencies, with Uzbekistan topping the list. One Tiyin is worth the equivalent of 1,999 American cents or 3,038 British pennies. Other countries that were also at the top of the list included Burma, Tanzania and North Korea.

7.1907 was a special year for the US $20 coin
President Theodore Roosevelt ensured that the words "In God We Trust" (a phrase that is heavily repeated on US coinage) were not printed on the 1907 $20 coin. This was because he believed in the separation of church and state and he thought that it showed a lack of respect to God since the money would be used to buy worldly goods and services.

8.The US Mint is more than just that...
While the United States Mint holds 147.3 million ounces of gold that is worth $6.2 billion, it also holds valuable items that belong to other governments and royalty, like Britain's Magna Carta and the crown jewels of St. Stephen, King of Hungary.

It has also housed some of America's most important documents, including the Declaration of Independence, the US Constitution, the Articles of Confederation, Lincoln's Gettysburg Address, three volumes of the Gutenberg Bible and Lincoln's second inaugural address.

9.Travellers cheques are more interesting than you thought!
Between 1118 and 1307, the Knights Templar used a cheque system to fund the travels of pilgrims. This system worked a lot like today's traveller's cheques and was a precursor to how traveller's cheques work today.

10.Dirty money
Coins aren't as dirty as you might think. Only 13% of coins test positive for bad bacteria while 42% of banknotes test positive for bad bacteria like fecal bacteria. And the odor left on your hands after you touch coins is actually caused by you, not the coins. When skin comes into contact with iron, some of the skin oils break down and begin to decompose, creating that smell.

We hope this has been an enlightening post about the world of coin collecting for those who are unfamiliar with it. You can purchase a wide range of coins, numismatics and other products online with KMG Gold at!
Posted by Mike Gupton at 12:00 PM 0 Comments

Wednesday, February 26, 2014

KMG Gold Now Sells Local, Hand Crafted Jewellery

If you like shiny things as much as we do, you'll be pleased to find out that KMG Gold is now selling select wholesale jewellery. Available at our Winnipeg storefront on Academy Road or online here, KMG Gold is happy to offer their customers a new product to enjoy.

Most of the items we now sell in the wholesale jewellery category are earrings, although we do offer a few different pendants. The earrings and pendants we sell are made with 14K white gold or 14K yellow gold and are set with a wide range of different gemstones. Some of the gemstones include: citrine, garnet, blue topaz, diamond and many more.

Selling this jewellery allows us to support our local Winnipeg economy, something we're really happy to be able to do. Each piece of jewellery is handcrafted and brand new, made by Roger Watson Jewellers right here in Winnipeg. Roger Watson Jewellers is a company that KMG Gold trusts and has collaborated with in the past with excellent results, so we can't recommend them enough!

We invite you to visit us online and check out the big selection of jewellery, complete with pictures and detailed information about each piece. They make for a perfect gift for someone you love, especially if that someone is yourself. You can check out the birthstone chart below for a little inspiration!

You can order online with free shipping on orders over $100, visit us at Academy Road or give us a call and we'll set it aside for you to pick up. As always, if there's something you'd like to see us offer online or in our store, leave us a comment or connect with us on Facebook to let us know!

Posted by Mike Gupton at 12:00 PM 0 Comments

Wednesday, February 05, 2014

Gold Gossip: The Cariboo Gold Rush

KMG Gold Gold Gossip Cariboo Gold RushYou've probably heard of the California Gold Rush and the Klondike Gold Rush, but do you know about the Cariboo Gold Rush? In our latest edition of KMG Gold's Gold Gossip blog series we'll tell you all about this exciting time in history.

Although not as major as the California and Klondike Gold Rushes, the Cariboo Gold Rush occurred in what's now the Canadian provinKMG Gold Cariboo Gold Rush Barkervillece of British Columbia and began as early as 1852. In 1858, the Hudson's Bay Company shipped over 800 ounces of gold to the Federal Mint in San Francisco which ignited gold fever. The California gold rush had happened only a few years earlier so the Cariboo sounded like it was the next hot spot for finding gold.

The summer of 1858 saw over 30,000 prospectors sail to Victoria where they first needed to obtain a valid mining license which would allow them to prospect for gold. Gold seekers took to the Fraser River, looking for gold in the sand bars and a lot of people returned to California when they didn't find much. But for those who stuck with it, they worked their way up the Fraser River and reached the Cariboo in 1862, getting lucky.

Initially the gold seekers were American, but as the American Civil War raged on, most went back home, and the prospectors were largely Canadian. It was a Canadian named Billy Barker who found gold first in the Cariboo on Williams Creek. This led to the creation of Barkerville which boomed into a town of 10,000 people all on the hunt for gold. And by 1865, the gold rush was in full swing!

We can thank the gold rush for...
  • Many new towns sprung up who were run by men and women who would become pioneers in the new agriculture and business communities.
  • The city of Victoria hugely expanded and developed.
  • Wagon Road was created by Royal Engineers and stretched 400 miles from Yale into Barkerville.
  • Wagon Road made it possible for the soon-to-be Canadians to access and hold authority over the Cariboo goldfields to ensure the wealth didn't pass through into the United States.

Posted by Mike Gupton at 11:30 AM 0 Comments

Wednesday, January 29, 2014

KMG Gold Attends Manitoba Dental Convention Trade Show

KMG Gold Dentist Convention Dental GoldAt KMG Gold we love trade shows because they're a fun way for us to get to know our customers and potential future customers. It's always nice to get the opportunity to introduce people to KMG Gold and the services we provide that they might not have known about before. We also like getting to know our community and other local business owners in such a friendly setting.

This past Friday and Saturday KMG Gold attended the Manitoba Dental Convention at the Winnipeg Convention Centre. We set up our booth at the trade show on Thursday night and bright and early on Friday and Saturday morning we got to meet all the dentists, hygienists, assistants and KMG Gold pens for trade showstudents who stopped by our booth.

We got to hand out some of our new swag (pens, magnets and bags, woohoo!) and chatted with the dental professionals about how KMG Gold can help them recycle their dental gold. We found that there are a lot of people who don't know exactly what KMG Gold can do for their dental practice and many were surprised by how much money they could get for their unwanted dental gold.

The next trade shows that we'll be at are the Ultimate Women's Show on April 12 and 13 and then the BBB Home Repair and Renovation Show on April 25-27.

We can't wait to see you there!

Posted by Mike Gupton at 2:15 PM 0 Comments

Wednesday, January 22, 2014

Gold Gossip: Earthquakes and Gold

KMG Gold Gold Buyers Gold Gossip Blog Series EarthquakesGold can be found across the globe but did you know that some experts believe that earthquakes can actually create new gold deposits? The latest in the KMG Gold Gold Gossip blog series is all about the role that earthquakes can play in gold production.

In the March 17, 2013 issue of the journal Nature Geoscience, it was reported that the water that is found in the faults created by earthquakes will vapourize during an earthquake and can create new gold deposits. The lead author of the study, Dion Weatherly, a geophysicist at the University of Queensland in Australia, believes that this theory offers an explanation for the link between gold and quartz found in many of the world's gold deposits.

When an earthquake hits, it moves along fault lines in the ground. Large faults can have many smaller fractures along their length which are connected by jogs that appear as rectangular voids. Water often lubricates the faults and fills in these fractures and jogs. And since these are often six miles underground, under very high temperatures and pressures, the water carries high concentrations of carbon dioxide, silica and precious metals like gold.

As the fault jog opens wider during an earthquake, the water inside of this void immediately vapourizes and forces silica (which forms quartz) and gold out of the fluids and onto nearby surfaces.

But don't get too excited because the amount of gold left behind after an earthquake is extremely small and the underground liquids only carry one part per million of the precious metal. However, these deposits can build up over time and can even occur with earthquakes with a magnitude smaller than 4.0. After all, the quartz-linked gold deposits are what sparked historic gold rushes like the ones in California and the Klondike, with prospectors tracing the gravels back to their sources, where hard-rock mining continues today.

The above picture is an example of what gold found in quartz looks like. This is an extreme example, but you never know what you might find!

Stay tuned for KMG Gold's next blog post, published every Wednesday. If there's a topic you'd like to read about, share your thoughts in the comments below or via Facebook or Twitter.

Posted by Mike Gupton at 12:00 PM 0 Comments

Wednesday, January 15, 2014

How does KMG Gold offer such high payout rates?

KMG Gold Gold Buyers Melts GoldHave you ever wondered how KMG Gold is able to offer its customers such high payouts compared to the competitors? One reason for this is thanks to our electric induction gold melter. This state-of-the-art melting furnace truly exemplifies our award-winning customer-first philosophy since it eliminates the need for customers to sell their precious metals through a middleman. We can actually melt our customers' gold at our Academy Road location!

Most customers don't know that all recycled gold eventually ends up at a refinery for processing, so it actually can cost quite a bit when you go through middlemen to recycle your precious metals. Middlemen can include pawn shops, coin dealers, traveling road shows, gold parties, kiosks and cheque cashing outlets. All of these middlemen eventually sell the customer's gold and other precious metals to a refinery where the gold is then melted. This is why they aren't able to offer their customers as much money as a business who does their own melting.

We purchased this awesome melter to ensure that in this competitive market, our customers will be best served to ensure they're completely happy with the services that we provide them with. It is this attention to detail and determination that continues to earn us our leadership position in the precious metal recycling industry and so many Better Business Bureau Torch Awards.

If you know of a way we can improve our service to you, please leave your thoughts in a comment below! Don't forget to like us on Facebook and follow us on Twitter!

Posted by Mike Gupton at 2:30 PM 0 Comments

Wednesday, January 08, 2014

Gold Gossip: Fort Knox

KMG Gold Talks Fort KnoxFort Knox. You've definitely heard about it before but how much about it do you really know? Here's the KMG Gold rundown of one of the world's famous gold depositories that continues to drum up hype and excitement every few years.

For starters, Fort Knox is located adjacent to Fort Knox, Kentucky and is officially called the United States Bullion Depository. It was built in 1936 by the US Treasury Department on military land and cost less than $1 million to construct, about $10 million in today's dollars. The reason why Fort Knox was built so quickly was because of President Franklin D. Roosevelt's Executive Order 6102 in 1933, an order which forced American citizens to sell all their gold to the government. Between 1933 and 1937, the federal reserve of gold grew from $4 billion to $12 billion! With a huge growth in the amount of government-owned gold, a secure building was needed to store it.

Below the fortress-like structure of Fort Knox lies the gold vault, a room encased in 17,000 square feet of granite and protected by a blast-proof door that weighs 22 tons. It is also made of 4,500 square years of concrete, 775 tons of reinforcing steel and 700 tons of structural steel. In addition these high levels of physical security, Fort Knox is equipped with alarms, video cameras, minefields, barbed razor write, electric fences, closed circuit cameras and heavily armed guards and army units. To access the vault, staff members must dial individual combinations that are known only to them and no visitors are ever allowed in.

The first shipments of gold to Fort Knox began in 1937 and included everything from gold bullion to new gold bars made from old gold coins. The shipments were gradually made and were sent by 500 rail cars and by mail which were protected by the US Postal Inspection Service and US Treasury Department Agents. KMG Gold Gold Buyer Gold Bars

Throughout history, other precious items have been housed in Fort Knox for safekeeping. The Articles of Confederation, Lincoln's Gettysburg address, three volumes of the Gutenberg Bible and Lincoln's second inaugural address have all seen the inside of Fort Knox. During World War II, Fort Knox held the US Declaration of Independence, the US Constitution and reserves of European countries and key documents from Western History. The crown of St. Stephen and some of the Hungarian crown jewels were also held there.

It's estimated that Fort Knox holds nearly 3% of the world's mined gold, 147.3 million ounces. The price of a troy ounce of gold in 1934 was about $20 and in 1980 it was between $350-$450. Its current price is more than $1,200.

But gold hasn't been transferred in or out of Fort Knox in many years. The only time gold will leave the vault is to be tested for purity during annually scheduled audits. And some people believe that Fort Knox is actually empty! If Fort Knox is empty, what's in it and where is the real gold reserve? This would raise a lot of very interesting questions and we at KMG Gold would love to know more about it.

If you like conspiracy theories, Fort Knox is one topic that will definitely keep you busy for awhile!

Posted by Mike Gupton at 1:00 PM 0 Comments

Wednesday, December 25, 2013

Happy Holidays from KMG Gold!

From everyone at KMG Gold, we want to wish you a very Merry Christmas and a happy holidays! Here is a friendly reminder of our Academy Road store hours this holiday season.

December 24: 9am-4pm
December 25: CLOSED
December 26: CLOSED
December 27 & 28: Regular hours (9am-6pm)
December 29: Regular hours (10am-5pm)
December 30: Regular hours (9am-6pm)
December 31: 9am-4pm
January 1: CLOSED

Regular store hours will resume on January 2.

We'd also like to remind you that although we'll be closed on Boxing Day (December 26), you can shop online with KMG Gold at any time. Simply click here and keep in mind that we now offering free shipping over $100!

Posted by Mike Gupton at 10:00 AM 0 Comments

Wednesday, December 18, 2013

'Tis the Season for Giving

With the holidays almost here, we at KMG Gold wanted to share the ways we're planning on giving back to the community this holiday season. One of our company mandates is giving back to the communities we operate in and we strongly believe in the importance of this.

KMG Gold supports a lot of community ventures throughout the year (including raising money for the Movember campaign for men's health, supporting a local soccer team, donating to the Goodwill Industries, Easter Seals Manitoba and the Society for Manitobans with Disabilities) but hasn't really done anything special during the holiday season. We thought it would be a great idea to expand our charity giving for the holiday season so we teamed up with the Christmas Cheer Board to help families in need.

The Christmas Cheer Board is a Winnipeg organization that depends solely on volunteers and the charity of others to help families in need through donations of food and money for their "Feed-A-Family" Christmas drive. This is the first year that KMG Gold is participating in the Christmas drive and we've pledged to sponsor a large family by purchasing groceries and Christmas gifts for the family. The food-filled hamper will be delivered to the family on December 20th by KMG Gold President Michael Gupton (possibly in a Santa hat, but no promises!).

We plan on further increasing our charitable donations as 2014 rolls in, so stay tuned on more information about that and how you can help, if you're interested in doing so. But for now we wanted to leave you with a few ways that you can help local families in need this holiday season. Click on any of the links below for more information about how to donate and where the nearest drop-off location to you is.

  • Christmas Cheer Board: Accepts money, groceries and unused toys (you can also donate toys to the Tower of Toys at the Forks Market)
  • Winnipeg Harvest: Winnipeg's largest food bank is especially looking for baby food and formula this season
  • Siloam Mission: Winnipeg's largest homeless shelter was recently damaged by a broken sprinkler head so they're looking for donations of basic supplies
  • Agape Table: A community nutrition centre that is looking for donations of warm winter clothing
  • Salvation Army: You can donate money to one of their iconic kettles or contribute to their annual Toy Mountain campaign
Happy holidays!

Posted by Mike Gupton at 2:30 PM 0 Comments

Wednesday, December 11, 2013

KMG Gold wins BBB Environment Friendly Torch Award for 2013!

KMG Gold Recycling wins BBB Torch AwardWe're happy to be adding another beautiful Torch Award trophy to our collection this year. Our second win for 2013, KMG Gold has been awarded the Environment Friendly award from the Better Business Bureau. This is our fifth consecutive award from the BBB and we couldn't have done it without the nominations we received from our loyal and satisfied customers like you!

You might already know that the BBB Torch Awards is an annual program that recognizes businesses that build trust, advertise honestly, remain transparent in their business dealings, honor their promises and display integrity in all of their marketplace KMG Gold Recycling MIchael Guptonactivities. Companies are nominated by peers and customers and the winners are then selected by a panel of independent judges.

We're proud to announce that KMG Gold is currently the only company in the precious metal recycling industry to receive multiple BBB Torch Awards for Business Excellence and the only company to win the Environment Friendly award for 2013.

To be nominated for the Environment Friendly Award, a business must demonstrate leadership and innovation in minimizing the impact the business has on the environment. In our case, the environmental impact is much broader than just our business. All of the precious metals refined by KMG Gold are recycled and placed back into the world's precious metal markets. This helps reduce the demand for newly mined metals, which in turn, helps reduce both the amount of energy required to mine virgin metal, as well as decrease the amount of acid rock drainage generated by mine waste rock dumps and tailings ponds. By recycling their precious metals, KMG Gold customers have helped reduce the amount of acid waste rock generated by virgin mining of gold alone by more than three million tons.

Posted by Mike Gupton at 11:29 AM 0 Comments

Wednesday, December 04, 2013

Mike's Movember Wrap Up

KMG Gold's MIchael Gupton supports MovemberAs November came to a close, so did this year's Movember campaign. If you've been following our blog posts or seeing our recent Facebook updates, you'll recall that KMG Gold President and CEO Michael Gupton participated for the first time this year. Motivated by a KMG Gold Mike Gupton's moustache, last daydesire to help raise money for men's health, he decided to do a twist on the typical moustache and grow his into a handlebar!

We think he did pretty well, and so did his moustache! Mike raised over $185 to support Movember which came from donations from his family, friends and even a few KMG Gold customers. He said he had a lot of fun doing it so we're looking forward to round two in November 2014!

Although Movember is officially over, you can still donate to support the cause. You can donate via Mike's Movember page or through the Movember homepage. Donating to such a great cause is fashionable any time of year, whether or not a cool moustache is involved!

Posted by Mike Gupton at 2:07 PM 0 Comments

Wednesday, November 27, 2013

The 1954 Devil's Face Banknote Series

KMG Gold sells Devil's face Canada banknoteAs many of you may already know, KMG Gold does more than just recycle your precious metals; we also purchase old coins and banknotes. One of KMG Gold's most recent acquisitions is a 1954 Canada Ten Dollar Devil's Face banknote, a very popular item among collectors.

The banknote features Queen Elizabeth II and what some people say appears to be the devil's face in her hair (on the right side of her head). As soon as these banknotes began circulating in 1954 (in denominations of $1, $2, $5, $10, $20, $50, $100, $1000), someone immediately noticed the apparent demonic face in the Queen's hair and the banknotes became an instant controversy.

As you might suspect, accusations flew and many people were accused of pulling a prank. The first suspect was the designer of the bills, George Gunderson. KMG Gold Recycling buy gold sell gold jewelleryIn 1952, the Bank of Canada commissioned Gunderson, of the British American Bank Note Company, to design the issue of banknotes for 1954. However, Gunderson claimed he was merely working from a photograph taken by the Her Majesty's official photographer, Peter-Dirk Uys.

Fingers were also pointed at pranksters who worked at the Bank of Canada as well as at French-Canadian nationalists and IRA supporters. But the lack of proof caused the scandal to fade and Gunderson fixed the banknotes by simply darkening the Queen's hair and removing the shKMG Gold Queen Elizabethading that looked like a face.

New bills were printed and put into circulation while the so-called devil's face banknotes were pulled from banks and stamped with CANCELLED on the front and back, along with the stamp of the institution that cancelled it on the back.

The bill that KMG Gold acquired was the $10 banknote. Only 7,200 of these bills were printed and one in perfect condition can actually fetch you up to $4,000! The bill that we have, and that we're selling, has been circulated and certainly isn't in perfect condition. Regardless, this bill is quite the addition for a numismatic collection and we're selling ours for the (relatively!) low price of only $19.95.

If you want to come in to our Academy Road location to take a look at this neat piece of history, we'd be happy to show you! And if you're interested in purchasing it, you can give us a call at 1-800-468-2220 to have it set aside for you or simply order it online here.

Posted by Mike Gupton at 9:30 AM 0 Comments

Wednesday, November 13, 2013

World Kindness Day

KMG Gold does MovemberWith November 13 marking World Kindness Day, we thought we'd share a little about what KMG Gold does to make the world a little more kind.

KMG strives to donate to a lot of great charities because we truly believe in the importance of giving back to our community and making it a stronger, better place to live in. If you follow our blog, you'll remember that in the summer we supported a local soccer team who made it to the finals! But with the ending of the summer and soccer season, we started looking for new ways to give back.

One of our more recent community service ventures was donating a real gold bar to the Special Olympics' Gold Gala on October 25, an event that celebrated the athletes and the people who support them. While we weren't able to make it out to the event itself, the pictures looked fantastic and we're sure that whoever won the silent auction for the KMG gold bar was as excited about it as we were! KMG Gold Michael Gupton

Our most recent charity venture is Movember. You've probably noticed the spike in men with moustaches in November and maybe wondered what it was all about. Well, it's called Movember (moustache + November = movember!) and men grow the biggest and best moustaches they can while raising money that goes to supporting men's health. Men usually take pictures of themselves throughout the process (we've been posting ours on the KMG Facebook page) and friends, coworkers and family members donate money to support them. You can donate with cash or a cheque but a lot of people find it easier and more convenient to simply visit the participant's individual Movember page and donate online.

With all that said, our boss Mike decided (read: was persuaded by the office) to join Movember and see how much he could raise and how great of a moustache he could grow. You can visit his Movember page here, or visit the KMG Gold home page and click on the moustache pic to be directed to his personal page. We post weekly updates on the KMG Facebook page and you can expect a blog post at the end of the month with before and after pictures, along with the grand total of money he raised for this great cause.

To all of the men out there doing Movember, good luck! Send us your best moustache pictures and we'll post some of the best ones we receive!

Posted by Mike Gupton at 6:30 PM 0 Comments

Wednesday, October 30, 2013

The Results Are In...We Won!

After receiving dozens of kind nominations from our happy customers and being named a finalist by the Manitoba and Northern Ontario chapter of the Better Business Bureau, we're happy to announce that on October 21, 2013 we were named the winner of the 2013 Torch Award for Marketplace Excellence.

We won the award for a midsize business and were recognized for our display of honesty, integrity and transparency in all out marketplace activities. It is because of our strong customer service that we were able to win this prestigious award and we never could have done it without support from YOU, our happy customers.

President and CEO Michael Gupton started KMG Gold from inside his home (in his dining room, in case you were curious!) in 2007 and when the business outgrew the space, he moved to a Winnipeg storefront in 2009. Since 2009 and since the inception of the Manitoba and Northern Ontario BBB in that same year, we have worked hard to win four consecutive Torch Awards each year since then!

One of the reasons why KMG Gold has been repeatedly recognized is thanks to our mandate of strong customer service and education. When a customer walks into KMG Gold, our goal is to make them feel at home and comfortable with the precious metal recycling business. We want to educate our customers on the processes involved in purchasing their precious metals so that they can make informed decisions when they decide to sell their gold, silver, coins, etc. We believe this is very important since this industry often attracts its fair share of unsavory characters who are willing to do anything to get a sale.

If you nominated us for an award - thank you! And if you didn't, come by and see what sets KMG Gold apart from the competition!
Posted by Mike Gupton at 10:00 AM 0 Comments

Wednesday, October 23, 2013

KMG Gold Loves...Trade Shows!

At KMG Gold we love getting to know our customers, whether they're repeat customers or first-time visitors. This is one of the reasons why we love going to different trade shows. Trade shows give us the opportunity to reach out to new people and show them why we're so special. It's always a fun way for us (and the customer!) to spend an afternoon, meeting new people and getting to know other businesses and business owners in the community.

The most recent trade show we attended was the 50+ Living Show last weekend at Assiniboia Downs. Office manager Jodi was representing KMG Gold and offering complimentary assessments to anyone who was interested. Super friendly and easy to talk to, Jodi is one of the reasons why KMG Gold has won awards for being so accessible and customer-oriented.

We have a couple of other trade shows on our radar that you might be interested in if you missed us at the 50+ Living Show, or that you might be interested in even if you've already visited us. KMG Gold attends trade shows in Canada and the US so just make sure to take note of which city it's in! If you know of any trade shows that you think would be a good fit for us, we'd love to hear from you. Don't forget to drop us a line on Facebook and let us know what your favorite trade show is, no matter what type it is!
Posted by Mike Gupton at 12:08 PM 0 Comments

Wednesday, October 16, 2013

Golden Zebra, Fact or Fiction?

You might have seen the images across the internet and wondered if the golden zebra was real or whether it was someone using Photoshop to pull your leg. At the KMG Gold office, we knew we had to investigate whether or not this zebra was fact or fiction!

What did we find out when we took to the Internet with the words "gold zebra" floating around our heads? It's real, or rather, she's real! Although a lot of the pictures circling around have been enhanced, we discovered that the golden zebra is indeed real, with stripes that are a subtle golden hue.

It turns out her name is Zoe and she lives at the Three Ring Ranch which spans five acres above the town of Kailua-Kona on the Big Island of Hawaii. She was born on September 16, 1998 to her mother Oreo and as you can imagine, is extremely rare. Our first reaction was that she had to be an albino, but it turns out that she has an unusual condition called "amelanosis" which results in her gold stripes and pale blue eyes.

This condition occasionally occurs in wild herds but affected wild animals would likely only survive for a few days at most. This is because zebras use their stripes as camouflage to blend in with the rest of the herd, allowing the herd to confuse predators with the changing patterns caused by the movement of such a large group of zebras. Thus, animals that stand out from the herd are easy targets to predators, which is why we're glad that at least Zoe is safe on the animal sanctuary.

But as rare as she is, Zoe isn't one-of-a-kind. There have been reports of at least two other golden zebras in captivity in the past. One was in Germany nearly one hundred years ago and the other was in a Tokyo zoo in the 1970s. As of right now though, Zoe is the only zebra with this condition known to be alive.

Have you heard of a golden zebra before? And have you heard of any other natural phenomenon in our favourite golden color? Share your thoughts with us and don't forget that you can connect with us on Facebook, Twitter, and now Google+!

Posted by Mike Gupton at 11:30 AM 0 Comments

Wednesday, October 02, 2013

The Case of the $16,000 Engagement Ring

Like something straight out of a reality TV show (and perhaps a little more real!) comes your classic he-said-she-said battle over a staggering $16,000 engagement ring. After breaking off their engagement, Jessica Bennett and Pasquale Angelino Zampieri have found themselves in an acrimonious court battle over who gets to keep the expensive engagement ring.

This story has certainly given Canadians lots to talk about over the water cooler and we at KMG Gold definitely have our own opinions. Firstly, lots of us in the office don't even think the ring is nice, it seems like a knock-off of Princess Diana's (and now Kate Middleton's) engagement ring. But that's besides the real point of the story! The majority of us think that the ring was a gift and that Bennett is entitled to keep it - although whether she should keep it is an entirely different issue.

And then there's the issue of the kidney transplant. The Toronto Sun claimed that shortly after meeting online, and becoming engaged, Zampieri gave Bennett a kidney after which she broke off the engagement. However, the CBC reported that he did not actually give her the kidney after all!

CTV Winnipeg visited the KMG Gold Academy Road location on Sept. 20 to interview President Michael Gupton and get his thoughts on the story. His opinion? Whoever keeps the ring might find themselves disappointed at the selling price, which often is a fraction of what was originally paid for it.

Our final thoughts: leave this twisting drama to where it really belongs...on one of the Real Housewives shows!

Posted by Mike Gupton at 12:00 PM 0 Comments

Wednesday, September 18, 2013

KMG Gold Sponsors KBI Bass Tournament - Again!

KMG Gold Sponsors KBIFor the second year in a row, KMG Gold was proud to sponsor the Kenora Bass International (KBI) Tournament that occurs annually in Kenora, Ontario. 2013 marked the 26th anniversary of the KBI, a day that is lots of fun for everyone involved. Held at the Lake of the Woods, the inaugural KBI Tournament began in 1988 with 48 boats in participation. Now, up to 150 boat teams compete in this exciting competition. KMG Gold 2012 Certificate

The rules are simple: each two-person team has three days to catch the largest bass they can. After the bass is weighed and the winning team is declared, the bass is released back into the water, alive and healthy! The friendly spirit of competition is certainly noticeable at the tournament and KMG Gold was excited to be a part of such an exciting atmosphere.

KMG Gold strives to partner up with local organizations and charities in an effort to give back to the community in which we operate. This is just one of the many ways that we set ourselves apart from other gold buyers in the community. If you are an organization or charity in our local community, please reach out to us and see how we can help you!

Posted by Mike Gupton at 2:00 PM 0 Comments

Wednesday, August 28, 2013

KMG Gold Recycling's New Lineup of Refinery Products

As part of a planned expansion of products and services that are intended to better serve our existing and future customer base, KMG Gold will begin distributing a leading line of refinery products from RDO Induction LLC, a leading supplier of induction furnace melting equipment for ferrous, non-ferrous and precious metal alloys. In addition to furnaces and melters, the company also supplies accessories such as crucibles, ingot molds, safety and handling equipment and much more. These products are now available for purchase on our customer-friendly and easy-to-use ecommerce site.

This latest expansion of the KMG Gold product line and service is a reflection of our desire to better serve you - our customer! - by providing a one-stop shop for tools, equipment and knowledgeable industry advice. All the tools that are produced by RDO and sold by KMG are perfect for anyone looking to start their own gold recycling program from their very own home at an affordable price point.

Have you used RDO products in the past? What did you think? Share your experience with us in the comments!
Posted by Mike Gupton at 10:30 AM 0 Comments

Wednesday, August 14, 2013

It's Finally Here! Shop Online with KMG Gold!

KMG Gold shop online ecommerce siteThe wait is over! KMG Gold Recycling is proud to announce the official launch of our new ecommerce site that gives customers a high-quality online shopping experience. Our first class ecommerce site offers our customers a shopping experience that is truly one-of-a-kind.

Our new site is ideal for those looking to set up their own gold buying businesses, offering everything to complete the process from start to finish; including gold testing products, crucibles, ingot molds and more. Truly offering something for every customer, our site also features hundreds of collectible coins for purchase. We're excited to sell numismatics, Royal Canadian Mint products as well as other coins and paper money from around the world. New items are added daily and feature a wide range of products that are perfect for beginners starting their coin collections and for seasoned coin veterans looking for that specific, rare coin.

Easy to navigate and laid out in a user-friendly manner, KMG Gold is certain that this site will be a game-changer in terms of how people shop in the gold buying industry. We look forward to attracting new customers from across North America and are certain that our high-quality products and positive shipping experience will further increase our already expanding customer base.
Posted by Mike Gupton at 12:30 PM 0 Comments

Wednesday, August 07, 2013

Coming Soon! KMG Gold Recycling's E-Commerce Site

KMG Gold is excited to announce the upcoming launch of our new ecommerce site which will offer products and services to better serve our existing, and future, customer base. We've teamed up with RDO Induction LLC (a leading supplier of induction furnace melting equipment for ferrous, non-ferrous and precious metal alloys) so that we can distribute their leading line of refinery products to our valued customers across North America.

KMG Gold is now officially a Canadian distributor for RDO Induction LLC and we'll be offering several different types of accessories like crucibles, ingot molds, safety and handling equipment and much more, that are crucial to the precious metals industry. We're so excited to offer our loyal customers these new products and services, and we hope they'll be as excited as we are. With the launch of our ecommerce site, we hope to better serve our customers by giving them a one-stop shop for tools, equipment and knowledgeable industry advice. We also know that by increasing our services offered, it helps solidify our position as Canada's leading precious metal recycler. KMG digger logo

For more updates and information about the launch of our ecommerce site, be sure to like us on Facebook and follow us on Twitter. And of course, keep reading our blog to stay tuned for exciting updates and other industry news!

Posted by Mike Gupton at 1:13 PM 0 Comments

Monday, July 15, 2013

KMG Gold Recycling Receives Two More BBB Nominations

As a previous winner of several Better Business Bureau (BBB) Torch Awards, KMG Gold Recycling is proud to announce that we've been nominated for two more of these highly-coveted awards for 2013. We've been nominated for the Marketplace Excellence award and the Environmentally Friendly award, both of which we've won in the past, and both of which we're crossing our fingers for this time around!

Since 2010, the BBB Torch Awards has operated as an annual program that recognizes businesses that build trust, advertise honestly, remain transparent in their business dealings, honour their promises and display integrity in all of their marketplace activities. Companies are nominated for the awards by peers and customers and the winners are selected by a panel of independent judges. KMG Gold is currently the only company in the precious metal recycling industry (and in Winnipeg!) to receive multiple BBB Torch Awards for Business Excellence.

According to Michael Gupton, President of KMG Environmental Inc., the parent company of KMG Gold, being recognized for the Environmentally Friendly Award this year is something very special. To be nominated for the Environmentally Friendly Award, a business must demonstrate leadership and innovation in minimizing the impact the business has on the environment. All of the precious metals refined by KMG Gold are recycled and placed back into the world's precious metal markets, helping decrease the amount of acid rock drainage generated by mine waste rock dumps and tailings ponds. By recycling their precious metals, KMG Gold customers have helped reduce the amount of acid waste rock generated by virgin mining of gold alone by more than six million tons.
Posted by Mike Gupton at 3:35 PM 0 Comments

Saturday, February 12, 2011

Precious metal buyer's business is good as gold

Winnipeg Free Press - PRINT EDITION
By: Martin Cash
Posted: 02/9/2011 1:00 AM

KMG sees dramatic growth

MICHAEL Gupton wants to buy your gold, but he does not want to be associated with the TV hucksters who are all over cable television these days.

Gupton has just moved his three-year-old home business, KMG Gold Recycling, into commercial space near Winnipeg's Confusion Corner because of the phenomenal growth he's had over the last three years.

Michael Gupton holds remains of rings and coins brought in by sellers.

Michael Gupton holds remains of rings and coins brought in by sellers. (PHIL.HOSSACK@FREEPRESS.MB.CA)

Tips to sell your precious metals

$1 worth of old U.S or Canadian silver nickels, dimes, 50-cent pieces or silver dollars is worth about $13.

Try to determine how much precious metal is contained in the objects you're selling.

Most jewelry would be either 10- or 14-karat gold. Pure gold is 24 karats, so 10-karat gold is about 41.7 per cent gold.

You can get a fair approximation of the weight by using a kitchen countertop scale accurate to the hundredths of an ounce.

But there has also been dramatic growth in business in general, dominated, it seems, by garish sales pitches from operators that may give some of us pause.

Gupton, a former gold prospector, claims to pay the highest prices in Canada -- no less than 81 per cent of market prices for precious metals.

As well as honesty and integrity -- KMG won a marketplace excellence award in 2010 from the Better Business Bureau -- Gupton says he offers higher prices partly because he has access to his own refinery.

"We try to educate the consumer," Gupton said.

"It they want the most money, they have to deliver their metal to a refinery."

KMG pays a minimum of 81 per cent (there was another operator offering 80 per cent in the fiercely competitive Vancouver market) if Gupton does his own speculation as to the quantity of precious metal contained in a piece of jewelry or metal object.

But he'll pay 97 or 98 per cent if he sends it off to his own refinery on the West Coast (the customer does have to pay a refinery fee).

His business regularly accesses enough material to produce between 100 and 200 ounces of fine gold every two weeks. At $1,350 an ounce, that's worth as much as $270,000.

Gupton says he stands by his claim of paying more than anyone else in the business because he has sent metal off to some of the others. On lots that he has paid $100, he said others have offered him between $20 and $50.

He said he was surprised one company that paid him only $50 was one of the country's oldest and most prestigious jewelry retailers.

Gupton said the fact his company runs its own refinery adds a level of integration others can't provide and a level of certainty that lets KMG pay a higher price.

"We are a primary refinery," he said.

"When we melt the metal down, the zinc, tin, lead, manganese and other metals are boiled off and we are left with ingots that are predominantly gold, silver and copper."

That is then sold to a secondary refinery that produces pure gold and silver and then it is sold back into the market to jewellers and the mint.

Christine Aquino, director of marketing for the Royal Canadian Mint, said the Crown corporation does buy precious metals from the secondary market.

"The amount we buy depends on our own capacity and also the quality of the metal," she said. "We have certain programs on the go, but when we have the capacity we will buy on the secondary market."


Posted by Mike Gupton at 9:33 AM 0 Comments

Sunday, November 14, 2010

KMG Environmental Inc. Gets New Head Office In Winnipeg

KMG Environmental Incorporated, which owns and operates KMG Gold Recycling, North America's largest gold buyer and full service refinery, announced today that they have relocated their head office and Winnipeg processing facility to:

KMG Gold Recycling
Osborne Junction,
#19-222 Osborne Street
Winnipeg Manitoba
R3L 1Z1
Building "C", Entrance off McMillan St., 2nd Floor
Phone number: 204-452-GOLD (4653)
Mon-Fri 9:00-5:00
Sat: 10:00-5:00
Sundays and after hours: By Appointment

As well as buying gold, silver, platinum, palladium and rhodium at their new location, KMG will hold training seminars for gold buyers, gold party hosts and hostesses in their new location. KMG teaches gold buyers from all across North America how to maximize their profits and make the most money buying and selling gold direct to the KMG refinery.

KMG Gold Recycling pays the most money for gold, silver, platinum,. palladium, and rhodium in North America .

Michael Gupton, President and CEO of KMG Environmental, says "We're thrilled to have a new our new retail location in Winnipeg. It's where we started KMG Gold, it's exciting to be able to finally serve our home town customers directly..."

Posted by Mike Gupton at 6:33 PM 0 Comments