Frequently Asked Questions
Below you will find many Frequently asked questions people have when they intend to make a purchase from us.
Buying From Us
What are my payment options when purchasing?
We accept cash, wire, or personal check. If you would like to pay by cash, you can take home the product the same day. For personal check or wire, we require a 10% cash deposit which allows us to lock in the price. Whether the price goes up or down, you are locked in. The balance may be paid by personal check or wire. We require a driver’s license with matching check for check purchase. You can pick up your items between 5-10 business days after the check clears the bank. For wire purchases, you can pick up the product within 1 day of us receiving a cleared bank wire. Please call us for more information on purchasing with check or wire.
What items do you sell?
We sell many bullion items. Please see our “What We Sell” page for more information on items we have in stock for purchase.
Do I have to pay sales tax when purchasing?
For sales in the amount of $2000.00 or less we are required to charge California Sales tax of currently 7.75%. Sales over the amount of $2000.00 do not have sales tax. This is a great way to save money when investing in precious metals.
How do I know the coins I buy are real?
Every item we purchase is tested with our Sigma Metalytics Precious Metal Verifier. It would be our pleasure to show you have we test gold and silver.
Is it better to buy gold, silver, or both?
We recommend buying both gold and silver.
Do you report my purchases to the government?
The only time we are required to report to the government on your purchase is when we accept over $10,000 in physical cash in a 24 hour period. We consider consecutive days 24 hours. For purchases over $10,000 of physical cash we are required to complete Form 8300 and are required to take get your driver’s license and other personal information. We are not required to file Form 8300 if you pay by personal check or wire.
What is the difference between a troy ounce and a regular ounce?
A troy ounce has 31.1035 grams. A regular ounce has 28 grams. Gold and silver is measured in troy ounces.
How can I purchase from you?
Purchases may be made in store during regular business hours.
How are your prices determined?
Our prices can be based on different factors, including but not limited to, cost, demand, and availability.
Do you ever do special Promotions?
Yes, please leave us your email address to get our specials.
Do you have any recommended products for new investors?
We recommend going with the items that are the most common and the most in demand. Some of these items include American gold or silver eagles, Canadian maple leafs, Krugerrands, Pamp gold bars, or silver rounds and bars. The reason why we recommend the most common items is because they are the easiest to sell, whether to us or another coin dealer anywhere across the country. Some large or online dealers or dealers you see on the TV try to push buyers toward products that they make a lot of money. These products tend to be semi numismatic or numismatic coins. We more often see investors in numismatic coins may not make money on their investment as they generally over pay for these type of coins.
What is the difference between a coin and a round, medallion, or bar?
A coin is made by a sovereign government and has a denomination or dollar value. A round or medallion is made by a private mint and do not have a dollar value on the round. A bar may be made by a government mint or private mint, but it does not have a dollar value on the bar.
Can I make a purchase over $10,000?
Yes, we do many orders from $10,000 up to $1,000,000. For these type of orders we prefer payment by personal check or wire. We do not accept cashier’s check. A 10% cash deposit is required to lock in the price. At that time we order the product, or put it aside for you if we have it in stock. The balance can be paid in personal check at the time or by wire within 24 hours. We also accept cash for immediate delivery if we have product in stock. For orders over $10,000 of cash we are required to do a IRS Form 8300. For large orders it is best to come in by 1:30 pm as we have wholesalers that are on the East Coast and close by 2pm our time.
What is a “troy ounce”?
Gold and silver are measured in troy ounces rather than regular food or avoirdupois ounce. A troy ounce is 31.1035 grams and is the standard in the precious metals industry. By contrast a regular ounce is 28 grams.
What is a “Proof”?
A proof coin has a mirror-like finish. This is done by polishing the die that is used to strike the coin.
What is “Purity”?
Purity refers to the percentage of metal within the bullion. For example, the gold eagle has a purity of 22k or 91.6%.
What is “Premium”
Premium is the dollar amount that is charged above the spot price for silver and gold bullion. For example a 1 oz gold bar may cost $100 over spot. The premium is $100. All coins and bars have a premium.
What is “Spot” or “Spot Price”?
Spot or Spot price is the current market price for gold and silver. It is traded daily and price changes from moment to moment.
What is “Bullion”?
Bullion is the term used to describe gold and silver for investment. It can include coins, rounds, and bars.
What is “Junk Silver”?
Junk silver or 90% is Dimes, Quarters and Half Dollars 1964 and before. 40% silver is half dollars from 1965 to 1970.
What is “Karat” or “Carat”
Gold percentages are measured in karats. 24 karat is pure gold. 18 Karat is 75% gold. The most common gold in the United States is 14 karat which is 58.5%. 10 karat gold is 41.6% gold. Carat is the standard used in diamond weight. 1 carat is equal to 1/5 gram. With diamonds, 100 points is equal to 1 carat.
What is “Pennyweight”?
Pennyweight is a measurement used in the jewelry industry. 20 pennyweight is equal to 1 troy ounce. 1 pennyweight is equal to 1.55 grams. Please see our Pennyweight vs Gram page for more information on how these two measurements relate to each other.
What is “Numismatic”
Numismatic is study or collection of currency, including coins, tokens, and paper money. Numismatic coins have an intrinsic coin value over the metal value. Bullion coins generally do not have a numismatic value as they are made for investment.