Buying Precious Metals, Coins and Other Things Requires Precise Scales and Record Keeping

We weigh things and give people money. That is the basics of our business. It is also why I have precision stainless steel test weights to make sure the scales are 100 percent accurate. People bring in gold, silver and platinum jewelry, coins, junk and other stuff. We pay them for the items based on what they are and their weight. With gold being so pricey, we could lose a lot of money if the scales are weighing heavy. We could lose our customers and our license to operate if they are weighing light. The county comes in an certifies our scales once a year. We keep a log of them being tested every day. If anything appears suspicious about a weight, we test the scale and confirm the weight using another scale.

For really pricey items we always confirm their weight on two scales. We use very precision scientific scales, so the weights are exact, even when using two scales. The scales we use are also quite durable. They also instantly record a weight on our computer system. We have cameras that also log an image of what is on the scale when items are weighed. We keep very detailed records. This also helps stop people from coming in with stolen items trying to sell them. That is why we pay by check too. We write them a check with the customer name on it who showed us a driver’s license when making a sale. We record a copy of the photo ID too.

You cannot be too careful in this business. I have heard stories. One was of a grandson who slowly stole his grandmother’s coin collection selling the items at different places that pay for gold. This is why we also get a declaration from the customer as to the origin and ownership of the items. All of the shady characters now go to other places, and we like that. The honest folks who want accurate weights and payments for precious metals come to us.