---
title: "Precious Metals FAQ"
description: "Frequently asked questions about buying, selling, investing, and Bitcoin at Polyak Precious Metals."
canonical_url: https://polyak-site-v1-refactor.vercel.app/faqs
last_updated: 2026-06-29
status: stable
page_type: static_page
source: src/pages/faqs.astro
---
# Precious Metals FAQ

## Bullion and Rare Coins FAQ

- What is market loss?: Market loss is the difference between the locked-in bullion order price and the current market price when a customer cancels, fails to pay, or does not deliver as agreed. If the market moves against the customer's position, the customer is responsible for that loss.
- When is the price locked in?: The price is locked once the customer confirms the order, whether online, by phone, or in person. At that point, the transaction is binding.
- What happens if I cancel or fail to pay?: Polyak calculates the market loss and bills the customer. If the market moved in the customer's favor, the customer does not receive a gain or refund.
- What if payment or delivery is late?: Delays may cause the order to be canceled and may trigger a market loss charge. If unpaid, the matter may be sent to collections or legal action.
- Can market loss charges be waived?: Management may waive charges only in very rare cases, entirely at its discretion.
- Does Polyak Precious Metals have minimum or maximum order amounts?: There are no minimum or maximum order amounts, but all orders require 100% prepayment before the price is locked.
- How much should I invest in precious metals?: Many experts suggest allocating 5-20% of a portfolio to physical precious metals, but the right amount depends on the investor and their adviser. Precious metals are volatile and carry risk.
- How do I buy from or sell to Polyak Precious Metals?: Call and speak with an account executive at 415-233-7206.
- What payment methods does Polyak Precious Metals accept?: Accepted payment methods include the following terms:

| Payment method | Terms |
| --- | --- |
| Cash | Price can be locked when the order is placed if cash is received by end of day. Available only for same-day in-store pickup. |
| Bank wire | Price can be locked when the order is placed if funds arrive in Polyak's bank account by end of day. Customers must call for wire instructions. |
| Personal or business check | Price locks when the check is received. Checks are held for 3-7 business days before items are released. |
| Cashier's check | Price locks when the cashier's check is received. Cashier's checks are held for 1-3 business days. |
| Credit card | Visa, Mastercard, Discover, and American Express are accepted in store with valid picture ID. A 3% merchant fee applies. |
| Bitcoin | Price locks when the order is placed. Bitcoin purchases have a $100 minimum and $100,000 maximum. |
- Can I sell diamonds to Polyak Precious Metals?: Yes. Polyak makes competitive offers on diamonds, especially diamonds over 1 carat.

## Cash for Gold

- Why should I sell my items to Polyak Precious Metals?: Polyak offers higher payouts than competitors by keeping overhead low, relying heavily on word-of-mouth referrals instead of expensive advertising, and focusing on quick, safe, efficient transactions.
- How do I calculate the value of gold and silver at home?: Scrap jewelry value depends on three factors: spot price, purity, and weight.

| Factor | Explanation |
| --- | --- |
| Spot price | Check current gold, silver, and platinum market prices from sources such as Kitco or The Bullion Desk. |
| Purity | Jewelry often has markings near the clasp or lock showing karat or purity. |
| Weight | Gold value is calculated in grams, requiring a jewelry scale. |

Common purity examples include:

| Marking | Purity |
| --- | --- |
| 10k / 417 | 41.7% gold |
| 14k / 585 | 58.5% gold |
| 18k / 750 | 75% gold |
| 22k / 916 | 91.6% gold |
| 24k / 999 | 99.9% gold |
| Sterling / 925 | Sterling silver |

To estimate value, divide the spot price by 31.1 to convert from troy ounces to grams, then multiply by purity.
- Can I sell diamonds to you?: Yes. Polyak is currently paying competitive prices for diamonds.
- Why do I have to provide ID and a fingerprint?: California Business and Professions Code 21628 requires a valid form of identification and fingerprint from sellers. This requirement does not apply to bullion or rare coin transactions.

## Bitcoin

- Do you accept Bitcoin?: Yes. Polyak accepts Bitcoin for orders between $100 and $100,000.
- How do I pay with Bitcoin?: Contact Polyak at 415-233-7206. Purchases below $1,500 are subject to 8.75% California state tax.
- How long do Bitcoin payments take to process?: Bitcoin payments may take up to one business day to be received. Once received, the payment clears immediately. The purchase can then be picked up in store or shipped.
- What is the Bitcoin exchange rate?: Use BitPay to check the current Bitcoin exchange rate.
- Do you accept other cryptocurrencies?: Not currently. Polyak only accepts Bitcoin at the moment, but is looking into accepting other cryptocurrencies in the future.