Frequently Asked Questions
We appreciate your interest, and the fact that you are doing your due diligence before selling your gold or silver. I believe that an educated customer is the one most likely to get the best deal.
Here are some of the frequently asked questions for Honest Gold Guy Spokane Valley along with questions you may ask about the gold business or selling us your gold and silver.
Where are you located?
We are located on the south east corner of Progress and Sprague next to the Post Office between the Barber Shop and the Key Shop.
15116 E Sprague Ave
Spokane Valley, WA 99037
Phone (509) 720-1122
What are your hours?
Our current business hours are:
12pm to 6pm - Mon - Fri
10am to 3pm - Sat
Closed on Sunday.
Personal meetings may be arranged under certain circumstances.
We check the New York spot prices up to the minute, divide that ounce price by grams and figure a price for each karat. We pay as high a price as we possibly can, and still make a reasonable profit.
Will you always pay the most in the area?
We would like to say yes, but it's difficult to guarantee something like that. We make great effort to keep our prices as high or higher than others in our area.
What is the pure gold content in my jewelry?
Gold purity is expressed as a fraction using the karat system based on a 24 karat maximum. For example 10 karat gold would be 10/24 which equals 41.7% so 10 karat gold would be 41.7% pure gold.
10K gold is 41.7% pure
14K gold is 58.3% pure
18K gold is 75.0% pure
24K gold is 99.9% pure
How can I know what karat my gold is?
Gold jewelry should be karat stamped. That means 10 karat gold should have a 10K stamp and 14 karat gold should have a 14K stamp on the jewelry piece. Common stamps include 10K, 14K, and 18K, however there are many other markings that may indicate the karat or purity. Pieces that are not stamped may be tested by using various testing methods.
I have jewelry that I paid about a $1,000.00 for. What will you give me for it?
Jewelry purchased at retail has a markup from 100% on up to 500% or more. We are purchasing items for scrap. While we pay as much as possible, you will not get back as much as you paid, unless it was bought a very long time ago. Our prices are based on each days spot price of gold and silver.
How long does it take to test my jewelry?
It will depend on how many and what kind of items you have. For 3-5 items it will take approximately 10-15 minutes to test, weigh, and fill out the proper paperwork.
Will I see you weigh and test my items?
Yes, we weigh and test as you watch. You are a part of the entire process as we always do business honestly and openly.
Do you use grams or pennyweights?
We weigh and pay in grams. There are 31.1 grams per troy ounce. Troy ounces are what the New York spot price is based on. Some gold buyers use pennyweights to confuse customers and make them think they’re paying more for their gold than they really are.
What do you buy?
We buy most gold or silver products including jewelry, coins, bullion, sterling jewelry, sterling silverware, flatware and hollowware in any condition.
Do you buy coins?
We usually only buy gold and silver coins. If it's made of gold or silver we will probably buy it. In some cases we buy other coins too.
Is there anything you do not buy?
We do not buy gold filled or plated items. We do not buy magnetic gold or silver. If we determine that your item is not gold or silver we’ll hand it back to you.
Do I need identification?
Yes, you’ll need a valid state or government issued photo ID. You must also be at least 18 years old to sell your items.
What if I have a question you did not answer here?
Simply call us at (509) 720-1122 and we'll do our best to answer any questions you have. If we don’t have the answer we'll do our best to get it for you.
That covers the FAQ's.
I serve the areas of Spokane Valley, Spokane, Post Falls, Clayton, Logan, Bemiss, Lincoln Heights, Trentwood, Rathdrum, Wellpoint, Mohler, Coeur d'Alene, Marshall, Cheney, Comstock, Pullman, Moscow, Lewiston, Dishman, Green Acres, Millwood, Liberty Lake, Veradale, Otis Orchards and all of Spokane County, Washington.
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Honest Gold Guy Spokane Valley
We are located on the south east corner of Progress and Sprague next to the Post Office between the Barber Shop and the Key Shop.
15116 E Sprague Ave
Spokane Valley, WA 99037
Phone (509) 720-1122
Hours:
12pm to 6pm - Mon - Fri
10am to 3pm - Sat
Closed on Sunday
Page updated 5/13/2022