Silver Dental Crowns Shine in Japan’s Precious Metal Market

JAPAN: A recent article published on https://asia.nikkei.com/ by Tomoya Takayama and Shugo Yamada reveals an unexpected trend in Japan’s precious metal market: a surge in the recycling of silver dental crowns. The reporters note that the rising values of precious metals have transformed these once overlooked dental appliances into potential treasure troves.

According to the article, Shikakin, a company based in Hyogo prefecture specialising in purchasing precious metals from dentistry, has witnessed a dramatic increase in the acquisition of silver crowns. “Purchases of silver crowns rose between 50% to 100% over the past year,” the journalists report, highlighting the scale of this phenomenon.

From Dental Waste to Valuable Commodity

The shift in perception of silver crowns from disposable items to valuable commodities is starkly illustrated by Tetsuo Shinzaki, president of SRC, which operates Shikakin. He shared with the reporters that “Silver caps were often considered worthless in the past. With the cash-in potential increasing, they’ve drawn interest as a commodity.”

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This change is reflected in the market prices. The article points out that a gram of gold-silver-palladium alloy used for casting purposes now costs 2,909 yen ($18.50), double the value from five years ago. Correspondingly, Shikakin’s purchasing price for silver crowns has also doubled to around 2,000 yen per gram.

Global Precious Metal Trends

The journalists attribute this surge to broader global economic factors. Post-pandemic recovery, demand from emerging nations, and investors seeking safe havens amidst geopolitical uncertainties have all contributed to the growth in precious metal values.

Particularly noteworthy is the sharp rise in silver prices. The London Bullion Market Association data cited in the article shows that the average price for silver stood at $23.50 per troy ounce last year, a 45% increase from 2019. The reporters also mention that silver futures recently touched a 12-year high of $32.80 in the New York market.

Dark Side of the Boom

However, the article also sheds light on a concerning aspect of this trend. High metal prices coupled with a thriving recycling market have led to an increase in thefts. The journalists report that last year, there were 16,276 metal theft cases in Japan, triple the number from 2020 when data collection began.

Satoru Yoshida, a commodity analyst at the Rakuten Securities Economic Research Institute, provided insight into this issue, stating, “Metal thefts have occurred sporadically around Japan, mainly during upswings in market prices.”

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