FAQ

FREQUENTLY ASKED QUESTIONS

 

LOCATION, HOURS & SERVICES

Question: Are you an actual brick and mortar store or just an online business?

Answer: Los Angeles Gold & Silver is a Rare Coin & Antique Shop located in the heart of the Beverly Hills shopping district at 427 N. Camden Dr. Suite F, Beverly Hills, CA 90210.

Question: Are your appraisals completely free, with no obligation?

Answer: Yes. We will tell you all we can about your items and give you a value. You are under no obligation to sell to us. All successful businesses are built on relationships and we feel that sharing our knowledge with you free of charge is the best way to start that relationship.

Question: Are you open on the weekends?

Answer: No, our hours are Monday-Friday 10am-6pm.

Question: Do you pay cash?

Answer: We are located directly next door to our bank so cash is not a problem.

Question: Do you have parking?

Answer: There is a Beverly Hills parking garage directly across the street with 1 hour free parking.

Question: Do you repair jewelry or size rings?

Answer: No, but we can refer you to a Bench Jeweler in our area.

Question: Do you repair or re-plate silver objects?

Answer: No, but we can refer you to our silversmith.

Question: Do you do formal written appraisals for Insurance purposes?

Answer: Yes. We charge a minimum of $250 for most objects and only when our schedule permits.

Question: Will you come to my home or my bank to give me an appraisal on my items?

Answer: In short, yes. Because we are a small, family run business our time is limited. While we would like to accommodate everyone, it sometimes is just not feasible to do so. Give us a call and we will do our best to help you.

Question: Do you take items on consignment or give loans?

Answer: No, we buy and sell only. We are not licensed to give loans.

 

 

 BUYING & SELLING

Question: What do you pay for gold and silver?

Answer: This is probably our most frequently asked question. The answer is it depends on what your item is, what it’s metal purity is, and whether the item will be refined or resold. All of our prices are based on up to the minute New York Spot Precious Metals Prices. All weighing is done in grams and troy ounces. The calculations we make for determining our buying prices are very simple, and we are happy to explain them to you.

Question: Do you pay extra for the gemstones that are in my jewelry?

Answer: Yes. Upon appraising your items we will identify all stones that have value and add them to our buying price. Many colored stones and some very small diamonds have very little to no value. If you would like to sell the item but keep one or more of the stones, we can often remove them in a matter of minutes or have our jeweler remove them within a day or two.

Question: What do you do with the items after you buy them?

Answer: Because we are primarily interested in Rare Coins, Estate Jewelry and Fine Antiques, our hope is that we will find your items a new home with a collector. Many items sell to other dealers who visit our shop regularly. Some are refined and turned into new objects.

Question: Should I polish my silver or clean my coin before I bring it in?

Answer: NO. We recommend NO CLEANING of any item in all of the fields in which we specialize. You will never receive less for your item because it is dirty, but you may destroy thousands of dollars worth of value if you clean it improperly. This is especially true in the fields of Antique Silver and Rare Coins.

Question: Are my old silver items worth more than just the silver?

Answer: This is where our expertise really separates us from the other people advertising to buy your gold & silver. If you are interested in selling silver in Los Angeles, don’t sell your items for just their weight in silver when they may be worth much more as collectibles. We are experts in Antique Silver and have over 25 years of experience dealing in fine silver objects. If your items are worth more than their silver value we will identify it immediately, and pay you based on the real market value. We pay more for all sterling silver objects than anyone in Los Angeles, and have done so for many years.

 

TERMINOLOGY

JEWELRY & GEMSTONES

Question: What is the difference between Antique Jewelry and Estate Jewelry?

Answer: Estate jewelry generally implies fine jewelry that has been previously owned. Antique jewelry by definition is at least 100 years old. Estate jewelry can be both modern and antique, the defining factor has more to do with quality than age. Period jewelry is another term often used and refers to jewelry that was manufactured during, and reflects the style of,  specific design eras such as Art Nouveau, Art Deco etc..

Question: What is signed Jewelry?

Answer: Signed Jewelry is jewelry that was  made by a premium jeweler. It must be marked with the jewelers hallmarks in order to be considered “Signed”. A premium jeweler can range from a highly collectible boutique atelier that has been out of business for 50 years, to recognizable names like Van Cleef & Arpels and Tiffany & Co..

Question: What is a GIA Certified Diamond?

Answer: GIA is the Gemological Institute of America and is the leader in setting and maintaining the standards used to evaluate gemstone quality. A GIA certification insures that the diamond or other gemstone has been inspected and evaluated by multiple GIA trained gemologists, and will contain every important factor you need to know about the diamond. GIA Certifications are recognized in the jewelry industry throughout the world as the most accurate.

 

SILVER

Question: What is the difference between pure silver and sterling silver?

Answer: Sterling silver is 92.5% pure silver. Pure 99.9% silver is too soft for use in most household items, so other metals (usually copper) are added to increase hardness. Pure silver is usually only found in bullion products such as coins or bars, and are commonly marked .999 fine silver.

Question: What is the difference between sterling silver and silverplate?

Answer: Sterling silver is 92.5% pure silver which is quite valuable. Silverplated items are primarily composed of a non-precious metal (such as copper) with a very thin coating of pure silver that does not have any refinable value.

Question: What is Holloware & Flatware?

Answer: Holloware is tableware such as tea pots, sugar bowls, platters, coffee pots, epergnes, and tureens. Flatware is traditionally referred to as silverware or cutlery, and includes many types of eating and serving utensils.

Question: What is Georgian Silver?

Answer: Silver produced during, and associated with, the reigns of Kings George I (1714-1727), George II (1727-1760) and George III (1760-1820). Also broadly refers to the eighteenth century and to its style.

 

 COINS

Question: What is Bullion?

Answer:  Bullion is a general term used to describe coins, bars or ingots made of precious metal, whose value is based on the current value of that metal. Intended primarily as investment products, these items rarely have a collectible value that far exceeds their intrinsic metal value. Examples of popular bullion products are: American Gold Eagle, Canadian Gold Maple Leaf, South African Kruggerand, and Johnson Matthey Silver Bars.

Question: What is a Numismatic coin?

Answer: Numismatic coins are coins whose value is based on their “collectible” or “rare coin” value. As opposed to Bullion coins whose value is closely tied to their metal content, Numismatic coins are often worth many times more than their metal value. Most Numismatic coins were used as legal tender at one point in time, and most bullion coins were never intended to be used as such.

Question: What is a Certified Coin?

Answer: A certified coin has been professionally graded by a third-party grading company, and sonically sealed with an identifying label in a clear hard plastic holder. The label contains all of the information about the coin, including the condition grade. There are many grading companies but only two have maintained the highest standards for consistently grading numismatic coins: NGC (Numismatic Guaranty Corporation) and PCGS (Professional Coin Grading Service). As premiere rare coin dealers in Los Angeles we can assist you in buying, selling, appraising and grading all numismatic coins.