If you're sitting on old or broken gold jewelry, sterling silver, coins, or bars, selling to the right buyer makes the difference between a fair payout and a lowball offer. Here's how precious metals pricing actually works, what to look for in a buyer, and how the process runs at Luxe Retail & Lending in Dallas.
What Actually Determines Your Payout
Three things set the price on any gold or silver item: purity, weight, and the live spot price of the metal.
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Purity is measured in karats for gold (10k, 14k, 18k, 22k, 24k) and expressed as a fineness for silver (sterling silver is .925, meaning 92.5% pure silver).
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Weight is measured in grams or troy ounces — troy ounces are the industry standard for precious metals, not the standard ounce used for everyday weight.
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Spot price is the current market price for raw, unrefined gold or silver, and it moves throughout the trading day.
A reputable buyer combines these three factors with a transparent formula. If a buyer won't tell you the spot price they're using or how they calculated your offer, that's a red flag.
Best Practices as a Seller
Before you walk into any buyer — Luxe included — a few habits protect you:
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Know your metal's purity before you go. Check jewelry for a hallmark stamp (10K, 14K, 18K, .925, etc.). No stamp doesn't mean it's fake, but it does mean the buyer will need to test it.
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Check the day's spot price yourself. It's public and updates constantly. Walking in informed means you can immediately tell if an offer is in a reasonable range.
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Understand that you won't get 100% of spot. No buyer pays full spot price — they need margin to cover refining, resale, and business overhead. The real question is what percentage of spot a buyer offers, and how consistent that percentage is.
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Separate melt value from collector value. Some items — estate pieces, designer jewelry, coins, and bars — can be worth more intact than melted down. A buyer who only quotes melt value on a piece with resale or numismatic value is leaving money on the table for you.
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Get it in writing. A legitimate buyer gives you an itemized breakdown: weight, purity, spot price used, and the percentage applied.
What Luxe Buys, and How We Price It
Luxe Retail & Lending pays 80% of spot price on:
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.925 sterling silver (flatware, jewelry, coins, and sterling pieces)
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All gold karats — 10k, 14k, 18k, 22k, and 24k
That percentage is applied consistently, calculated against the live spot price at the time of your transaction, based on the actual tested weight and purity of your item. There's no guessing and no sliding scale depending on how the item looks.
Gold Bars and Gold Coins Work a Little Differently
Ingots (bars) and gold coins aren't priced the same way as jewelry or scrap gold, and it's worth understanding why before you bring them in.
Jewelry and flatware are almost always valued on melt value — what the raw metal is worth once refined. Bars and coins, on the other hand, often carry a premium above spot because of:
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Minting and brand recognition (government-minted coins like American Gold Eagles or Canadian Maple Leafs, or bars from recognized refiners like PAMP Suisse)
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Collector or numismatic demand, which can apply to rare, limited, or historically significant coins independent of their metal content
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Liquidity — recognized bullion products are easier to resell, so they can command a higher price than unbranded scrap
We still buy ingots and gold coins, but the offer isn't a flat 80%-of-spot calculation the way jewelry is. We evaluate the specific product, its recognized market premium, and current demand, then make an offer based on that. If you have bullion or coins you're considering selling, bring them in for an individual quote rather than assuming the standard rate applies.
How a Gold (or Silver) Transaction Works at Luxe
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Bring in your item. No appointment required for a standard walk-in evaluation.
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We test it. Using acid testing and/or XRF (X-ray fluorescence) analysis, we confirm karat or fineness on the spot — no guesswork, no reliance on old hallmarks alone.
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We weigh it. Precision scales determine exact weight, which is what the offer is calculated against.
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We check the live spot price. Gold and silver spot prices move throughout the day, so your offer reflects the market at the time you're in the store.
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We calculate your offer. For .925 silver and all gold karats, that's 80% of spot applied to your item's tested weight and purity. For bars and coins, we price based on the product's specific premium and demand.
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You review the breakdown. You'll see exactly how we got to the number before you agree to anything.
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ID and paperwork. Texas law requires buyers of precious metals to verify identification and keep transaction records — this is standard for any licensed buyer, not unique to us.
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Get paid. Once you accept, payment is issued on the spot.
Why It Matters Where You Sell
Not every buyer tests, weighs, and prices transparently. Pawn shops, mall kiosks, and mail-in gold buyers vary widely in what percentage of spot they actually pay — and many don't disclose it until you're already committed to the transaction. Knowing the process ahead of time, and knowing what questions to ask, is the best protection you have as a seller regardless of where you sell.
Ready to see what your gold or silver is worth? Stop by Luxe Retail & Lending at 4415 Lovers Lane, Dallas, or reach out through luxe-dallas.com to get started.