The aim of this study is to examine the status of rare earth elements (REE) contained in the chemical compounds that make up the powder of spent fluorescent lamps, with a view of their recovery. The status of REE in the as-received powder, as well as in a few size-class fractions of it, has been established. This way, only those size-class fractions containing high REE concentrations can be considered in a recovery process. The investigation has been carried out using particle-size, chemical, TGA/DTA, XRPD, SEM-EDS and EMPA analyses. The last technique enabled to establish the status of REE within the lattice of the chemical compounds present in the powder. The fineness of the as-received powder and the higher REE concentration in the finest size-classes suggest that physical methods of separation should not be used to separate the REE-containing chemical compounds from each other. Leaching methods seem more suitable with a material of such size.