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Swaging is a general manufacturing process that can be broken into two categories. These two categories are:

decreasing the diameter by extrusion
decreasing the diameter by hammering
In the extrusion part, the work piece is forced through a confining die in order to reduce the diameter and can also be referred to as “tube swaging”. The second type involves two or more dies that are used to hammer the work piece to decrease its diameter.
Normally, for precious metals, swaging is the method of choice as there is no material loss in the process.

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