Old Gold Jewelry Exchange Program: Trade In & Sparkle

Transparent Process

All testing and disassembly are performed in the presence of the customer to ensure full transparency. We make every effort to educate you about the process both before and during the exchange.

Process Overview

1. Visual Inspection to Determine Eligibility for Exchange

• We accept plain gold jewelry, studded gold jewelry to some extent, and hollow gold jewelry, provided the purity is 14 karats or higher.
• Damaged and broken gold jewelry is also accepted.
• Jewelry containing diamonds or other expensive gemstones will not be accepted for exchange.
• Kundan jewelry with fillers is excluded from the program.
• We examine your jewelry for standard hallmarking to determine the karat rating of the gold and inform you if the item qualifies to proceed with the exchange.
• Please note that agreeing to proceed with the exchange is not binding on us; we reserve the right to reject any item at any point during the examination.

2. Identification Requirement

• To ensure compliance and security, a valid government-issued ID is required for all transactions.

3. Gold Purity Testing (Using FRX Tester)

• We test the gold purity using an FRX tester to determine the actual gold content.
• For solid plain gold jewelry, a valuation will be presented based on this purity, and upon your approval, the exchange process will proceed.
• For studded gold jewelry, after establishing gold purity, we provide an approximate valuation based on the net gold weight you provide. Upon your agreement and release of liability, we will de-stud the jewelry in your presence.

4. Disassembly and Examination

• For studded jewelry, we separate the gold from other embellishments such as gemstones and pearls in your presence and return all non-gold components to you.
• For hollow gold articles, upon your acceptance of the initial valuation, we may break the ornament to check for fillers.

5. Final Valuation and Offer

• The extracted gold will be weighed and re-tested to confirm gold purity, after which the final valuation will be generated using our valuation application.
• We will share the final valuation and offer with you verbally, via email, and by SMS. This final offer is binding.
• You may choose to decline the final valuation, in which case the extracted gold will be returned to you. If accepted, we will retain the gold and proceed with exchange documentation.

Important Notes and Disclaimers

• Varying gold purities may be found within different parts of a single piece of jewelry. If such inconsistencies arise, or if fillers are discovered during examination, we reserve the right to decline the exchange.
• Any verbal or written valuations provided prior to disassembly and final confirmation of gold purity by the FRX machine and valuation app are non-binding.
• We will not be responsible for any damage caused to the jewelry during the disassembly or examination process.
• Gemstones, pearls, or other embellishments may be damaged during disassembly, and we will not be responsible for any such damage.

Valuation Example

Step 1: Customer’s Initial Estimate

• The customer presents a gold ornament with a gross weight of 121.21 grams and an estimated net gold weight of 111.89 grams.
• The jewelry is hallmarked 916 (22 karat gold).

Step 2: Calculate Pure Gold Weight

Multiply the net gold weight by the purity fraction:
111.89 × 0.916 = 102.49 grams

Step 3: Current Spot Price of Gold

Assuming today’s 24 karat gold spot price is $3,410.39 per troy ounce (1 troy ounce = 31.105 grams), the value of the pure gold content is:
(102.49 × 3410.39) ÷ 31.105 = $11,237.26

Step 4: Our Offer

Our offer at 95% of this value is:
0.95 × 11,237.26 = $10,675.40
This is an approximate valuation.

Step 5: Purity Confirmation and Customer Approval

• We test the ornament’s purity with the FRX tester, confirming 22 karats.
• We get your approval to proceed.

Step 6: Disassembly and Final Weight

• After disassembly, the actual net gold weight is measured; suppose it is 109.50 grams.
• The pure gold weight is recalculated:
  109.50 × 0.916 = 100.29 grams
• The revised value is:
  (100.29 × 3410.39) ÷ 31.105 = $11,002.33
• The 95% offer based on this is:
  0.95 × 11,002.33 = $10,452.21

Step 7: Final Purity Check

• The disassembled gold is tested again with the FRX tester.
• If purity remains 22 karats, the exchange proceeds at the recalculated value.
• If purity varies, we reserve the right to decline the exchange.

***Terms of this program may be revised or amended periodically at our discretion.

06/17/2025