The amount paid for gold is determined by several factors: the price of gold, the purity of the piece, the type of gold (coin, jewelry, placer). We pay 75% of melt value for a broken 14k chain, whereas we pay approximately 98-100% of spot for gold bullion.
There are many types of silver and all have different purities. For example, sterling silver is .925 pure. However, it is expensive to refine, therefore the price paid is lower as a percent of spot. For a further explanation, please feel free to call or take a look at What We Buy.
Gold and silver both are measured in troy ounces. Troy ounces are heavier than regular ounces. There are 20 pennyweights to a troy ounce and 31.1 grams to a troy ounce.
Coins are purchased based on type, condition, age, and mint-mark. These are the factors that determine the value of coins and you can add one more factor: how desirable that particular coin is at the current time. This is why we offer free valuations on coins. It is recommended that you bring in your old coins, obtain a value for them, then trade them for gold or silver bullion. It is much easier to keep track of your bullion's value as opposed to the value of "rare coins". We offer free gold testing for customers. Bring it in, and we will happily test it for you.