Frequently Asked Questions
Bullion and Rare Coins FAQ
We do not have any minimum or maximum order amounts. However, on all orders we request 100% prepayment before we lock the price
Most experts recommend investing 5 - 20% of your portfolio into physical precious metals. Only you and your investment adviser know which number is right for you. Just like any other investment, precious metals prices are volatile and there are risks involved, so allocate your funds wisely.
Cash: You can lock in the price of your bullion items at the time the order is placed, as long as we receive cash payment by the end of the day.This is only available for same day in-store pick up.
Bank Wire Transfer: You can lock in the price of your bullion items at the time the order is placed, as long as we receive the funds in our bank account by the end of the day. For Wire Instructions please contact us at (415) 233-7206
Personal or Business Check: You can lock in the price at the time we receive your check, however, we hold checks for 3 - 7 business days before you can receive your items.
Cashier Check: You can lock in the price at the time we receive your check, however, we hold cashiers checks for 1 – 3 business days.
Credit Card: We Accept Visa, Mastercard, Discover, and American Express. Credit card purchases can only be processed in-store with valid Picture ID. 3% merchant fee applies to all credit card transactions.
Bitcoin: Prices are locked in at the time the order is placed. There is a minimum of $100 and a maximum amount of $100,000 accepted on all Bitcoin purchases.
Yes, we are currently paying competitive prices for diamonds.
Cash For Gold
We take pride in our ability to offer higher payouts than our competitors. How are we able to consistently do this, you ask? Low Overhead. We do not spend huge amounts of money on advertising because we mainly rely on ‘word of mouth’ referrals from clients who have done business with us in the past. We make sure that all transactions are performed quickly, safely, and efficiently.
The value of your scrap jewelry is based on 3 factors; Spot Price, Purity, and Weight.
Spot Price – Please visit www.kitco.com, or www.thebulliondesk.com. You will see the current market price of Gold, Silver, and Platinum. This is the price off of which we base all of our calculations.
Purity – Usually, jewelry will have a small marking close to the clasp or locking mechanism, which states the purity, or karat content of the jewelry. The markings are stated as follows:
10k / 417 = 41.7% gold purity
14k / 585 = 58.5% gold purity
18k / 750 = 75% gold purity
22k / 916 = 91.6% gold purity
24k / 999 = 99.9% gold purity
Sterling / 925
Weight – We calculate the value of gold in grams. To weigh your gold in grams, you would need a basic jewelry scale, which are extremely common. You can purchase these for under $40.
The formula for calculating the value of gold is as follows:
Spot Price x Purity / 31.1
Since the spot price of gold is given to us in Troy Ounces, we must divide by the amount grams in each ounce, to find out the value of your gold in grams.
Yes, we are currently paying competitive prices for diamonds
California law (Business and Professions Code 21628) requires us to obtain a valid form of identification along with a fingerprint of the seller. This does not apply to our Bullion, or Rare Coin transactions.
Yes, we are proud to accept Bitcoin as payment. Bitcoin is accepted for orders, from a minimum of $100 to a maximum of $100,000.
Yes, Polyak Precious Metals is proud to start accepting Bitcoin Cash as payment now too.
Please contact us at (415) 233-7206
Please note: All purchases below $1,500 are subject to California State Tax of 8.75%.
Payments made using Bitcoin or Bitcoin Cash can take up to one (1) business day to be received. Payments are cleared immediately upon receipt. Once cleared, your purchase will be ready for store pick up if you or can also be shipped to you.
The exchange rate used for Bitcoin transaction will be that of BitPay’s. To check the current exchange rate click "here."
Please make sure you transfer from one of these compatible wallets that support payment protocol, otherwise it will most likely be declined by BitPay:
- BitPay Wallet
- Copay Wallet
- Airbitz Wallet
- Bitcoin Core Wallet
- Electrum Wallet
- Mycelium Wallet
For questions regarding payments through BitPay and wallet compatibility, follow this link: https://support.bitpay.com/hc/en-us/articles/115005701523
At the moment, we only accept Bitcoin and Bitcoin Cash. However, we are currently looking into ways to start accepting other crypto currencies. Please check back regularly, as this is subject to change.