We report the preparation of nanocrystalline cobalt ferrite, $CoFe_2O_4$, particles using recycled $Co_3O_4$ and their surface coating with silica using micro emulsion method. Firstly, the $Co_3O_4$ powders were separated from waste cemented carbide with acid-base chemical treatment. The cobalt ferrite nanoparticles with the size 10 nm are prepared by thermal decomposition method using recycled $Co_3O_4$. $SiO_2$ was coated onto the $CoFe_2O_4$ particles by the micro-emulsion method. The $SiO_2$-coated $CoFe_2O_4$ particles were studied their physical properties and characterized by X-ray diffraction (XRD), high resolution-transmission electron microscopy (TEM) analysis and CIE Lab value.