Frequently Asked Questions

I appreciate your interest, and the fact that you are doing your due diligence before selling your gold. 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, silver, or platinum.

Where are you located?

We are located on the SE 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.

How do you figure the prices you’ll pay?

I check the New York spot prices each day, divide that ounce price by grams and figure a price for each karat. I pay as high a price as I possibly can, and still make a reasonable profit.

Will you always pay the most in the area?

I would like to say yes, but no one could swear to something like that. I have surveyed the other gold buyers in the area, and I do my best to keep my prices higher than theirs.

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, silver, and platinum.

How long does it take to test my jewelry?

How long it takes will depend on how many and what kind of items you have. For 3-5 items it will take approximately 10-20 minutes to test, weigh, and fill out the proper paperwork.

Will I see you weigh and test my items?

Yes, I 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?

I buy gold, silver, platinum, and sterling jewelry or flatware in any condition.

Do you buy coins?

We do buy silver coins. Primarily pre-1965 U.S. coin (aka junk silver) which are 90% silver. Sometimes other coins are made of silver too and if it's made of silver we will probably buy it.

Is there anything you do not buy?

I do not buy gold filled or plated items. I do not buy magnetic gold or silver. If we determine that your item is not gold, silver, or platinum we’ll hand it back to you.

If I refer my friend or relative do I get anything for it?

Absolutely, I have a referral program where I pay my previous sellers a commission for referring a new client to us. Please ask for one of my referral cards.

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 me at (509) 720-1122 and I'll do my best to answer any questions you have. If I don’t have the answer, I’ll get it for you as soon as possible.

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, 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 SE 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

12pm to 6pm - Mon - Fri
10am to 3pm - Sat
Closed on Sunday

Page updated 7/10/2018

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(509) 720-1122

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