Thanks for taking the time to get educated about the gold and silver business. An educated consumer will make the best choices. I hope your choice is to either do business with us or recommend us to others.

FAQ on Doing business with us

What are your hours?
My New Hours Effective March 12

Monday - through Saturday
By appointment only.

Sunday - By appointment after 2 p.m.

Please call 941-915-2978 to make an appointment.

Why aren’t you open regular hours? I am busy. I have other responsibilities. Most days I am nearby and can accomodate your schedule.

What if I have questions not answered here? Just call me. I talk to people everyday about all types of precious metals. I even help moderate Scrap Gold University. If I haven’t got an answer for you, I will get it and call you back.

How much do you pay? We pay competitive prices in the top 10% of our competition. We do not publish prices online for competitive reasons. Our prices are posted daily in our office, as they are based on each days spot prices.

How do you figure the prices you pay? We figure our prices every day based on the spot price of precious metals, and the purity of the metal. Of course like any merchant we have some fixed costs like refining fees. Fortunately we have a very low monthly overhead.

I have jewelry I paid $1000.00 for. How much can I sell it for? jewelry purchased at retail from a jeweler has from 100% to 400%, or more markup. This includes fabrication, design costs, and sales tax. We are buying to melt for scrap. What you’ll get is based on the price of scrap gold and silver.

How long will it take to appraise my gold or silver? As long as we need to carefully check each piece. If you only have 2 - 5 pieces we can go through it in a few minutes.

How do you test my gold? We magnet test, then electronically test your gold. These are non-destructive tests. Only if necessary, and with your permission, would we acid test with a harsh chemical.

Will I see the weighing and testing of my gold? Absolutely. We strive to do business openly and honestly at all times. Since we also work by appointment, your business will remain your business only. There will be no gawkers.

Do you buy in grams, or pennyweights? We quote, weigh, and pay by grams. if someone is quoting you in pennyweights, grab your wallet. Pennyweights are used to confuse customers.

What do you buy? Virtually any bona fide gold, silver, or platinum.

What don’t you buy? We do not buy fake gold, plated, or gold filled jewelry. If our testing reveals a fake or bogus item we’ll hand it back to you, and explain why.

We also do not buy any items that we suspect may be stolen.

Do you report purchases to the local authorities? Every sale is entered daily, and reported to the sheriff’s department to aid in catching thieves.

How do you pay? You are paid immediately by a check drawn on Bank of America.

Do you pay referral fees? I happily pay a referral fee. My business cards have a place to add your name and number. If a client you send me does business with me, you will earn a check.

Will you help me do a gold party? Certainly, gold parties allow the host or charity to make a referral fee of 10%. Your friends will have fun, and go home with a profit.

Will you come to my home? I do offer home, or business appointments in special circumstances. It is preferable to meet in my office where all my equipment is set up. I can work around your schedule.

What identification do I need to sell to you? By state law you will need a drivers license, or a passport. We will also need to gather a thumbprint from you.

Do you buy diamonds or precious stones? Usually not, if it is a large stone, we can offer you a price for it, or remove it for you to sell elsewhere.

I own some valuable jewelry and coins, how do I protect them? What do I do if they are stolen? I have an article that answers both of these questions. Please see my Gold Theft article.

If you have questions about gold, and silver terminology, see our page on Gold and Silver Terms.

Scrap Gold Business

How do scrap gold dealers set prices? All precious metals are commodities. They are traded on paper. This sets the prices daily. Scrap Gold dealers take the spot price, deduct a profit margin, and refining costs to come up with what they pay to their clients.

How could I become an honest gold guy? If you are 6-8 miles or further from an existing honest gold guy, you could attend Scrap Gold University online to learn the business. Contact me for info.

I don’t see my question here? How do I get my FAQ answered? Call me at 941-915-2978 or submit it using my Contact Me form.

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FAQ Updated 01/02/2012

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