The invention relates to a precious metal inspection machine which comprises a coin conveying channel, an image processing module and a master control module. A coin conveying assembly, a coin clamping mechanism, a coin detection mechanism, a discharging assembly and a waste coin panning mechanism are sequentially arranged on the coin conveying channel. The coin clamping mechanism is mainly composed of a coin input device, a coin supporting device and a rotating device. The rotating device comprises a rotating motor and a rotating disc installed on the rotating motor. A set of clamping holders for horizontally clamping coins are uniformly distributed on the rotating disc in the circumferential direction. The waste coin panning mechanism comprises two sliding rails, a lead screw, a lead screw motor, a feeding sensor and a micro motion sensor. The two sliding rails are symmetrically arranged, a supporting plate is connected to the two sliding rails in a sliding mode and fixedly connected with the lead screw, the lead screw is driven by the lead screw motor, at least two waste coin discs are arranged on the supporting plate, a plurality of partition plates are uniformly arranged on the waste coin discs in the width direction of the waste coin discs, the waste coin discs are partitioned into a plurality of columns of identical coin storage portions. The precious metal inspection machine has the advantages of being compact in overall structure and small in occupied area.