FAQs
FAQs
Free Quotes | Locally Owned Since 2007 | Over 50 Years of Experience
Free QuotesLocally Owned Since 2007Over 50 Years of Experience
Get Answers to Your Questions with Us
Read some frequently asked questions at Executive Bullion about our buying and selling practices for gold, silver, jewelry, and other precious metals. We've been your full-service center for precious metals since 2007. Our transactions are safe, secure, and confidential.
FAQs
Selling Terms and Conditions
Requirements for Use
You must be at least twenty-one (21) years of age to conduct business with Executive Bullion. In addition, every customer of Executive Bullion must be the actual legal owner of any and all gold, jewelry, and other property sold or attempted to be sold to Executive Bullion. Every customer must be acting on his or her own behalf and not as the agent or representative of another person. Executive Bullion may, but shall not be obligated or required to, request documentation or other proof of compliance with the requirements contained in this paragraph. Executive Bullion reserves the right to request additional info from the customer to fulfill legal requirements relating to the transaction.
Limitation of Liability
This limitation of liability shall be binding on each and every customer and any third party, including, but not limited to, the customer and the customer’s successors, assigns, insurance carriers and any other individual or entity asserting any right or claim relating to customer’s transaction with Executive Bullion.
In no event shall Executive Bullion be liable to any third party, including any insurance carrier. Executive Bullion shall not be responsible for any subrogation claim brought by the customer’s insurance carrier, and, by submitting an item to Executive Bullion, the customer expressly and specifically waives any such subrogation claim on his or her behalf as well as on behalf of his or her insurance carrier.
Executive Bullion’s liability is and shall be expressly and specifically limited to the LEAST of the following sums:
The liquidation value placed on the total contents by Executive Bullion in Executive Bullion’s sole discretion;
- One third (1/3) of the appraised value of the contents according to an appraisal submitted by a customer/seller to Executive Bullion, which appraisal was issued prior to the shipment of the item to Executive Bullion; or,
- The sum of One Hundred ($100.00) Dollars.
- The customer/seller expressly acknowledges and agrees that if there is no appraisal which was issued prior to the contents being submitted to Executive Bullion, Executive Bullion’s liquidated value shall be conclusive and binding and further, that in no event shall Executive Bullion’s Liability exceed One Hundred ($100.00) Dollars.
Executive Bullion shall not be liable to anyone for any damages, including but not limited to, incidental, consequential, punitive, loss of profit or opportunity, other than as set forth herein above. By submitting the item, customer explicitly and expressly accepts this limitation of liability.
Acceptance of Offer
Any customer or prospective seller may request Executive Bullion to provide an email quote for his or her items after such items have arrived at Executive Bullion’s processing facility. Verbal offers may, at the discretion of Executive Bullion, be recorded. Upon the verbal acceptance of the telephone quote by the customer or written acceptance by email, payment will be issued by Executive Bullion within twenty-four (24) hours of such acceptance, and the sold items will be non-returnable. In the event the customer/seller cannot be contacted by phone or does not respond by email within 48 hours payment will be made by Check. This automatic payment is subject to the Executive Bullion Material Return policy, and the items will be held and returned upon notification by the customer/seller and return of the original check payment.
Shipping Reimbursement
Executive Bullion will refund the original shipping expense incurred by the customer/seller on qualifying transactions. Qualifying transactions shall consist of only shipments that are actually purchased by Executive Bullion and for which the entire shipping cost is not more than 10% of the purchase price. When the original shipping cost exceeds 10% of the purchase price, Executive Bullion may at its sole discretion reimburse up to 10% of the purchase price towards the shipping cost. Executive Bullion will not reimburse shipping for customer items that are returned. Shipping will not be reimbursed for any coin or bullion-related shipments. Coin and bullion shipments to Executive Bullion are the seller’s responsibility.
Payment Fees
The customer / seller hereby acknowledges that specific payment options will incur additional fees that will be deducted from their total payment. Check payments through First Class Mail or Direct Deposit have no additional fees. The fee for Express Mail Overnight check payment will be $21.50. The fee for Bank Wire Transfer payments will be $35.00. Note: Additional wire fees may be charged to the recipient’s bank account by their banking institution.
Material Return
If for any reason you are unhappy with our verbal or email quote or if you have received an automatic payment check, you can request that your items be returned to you at our expense. Executive Bullion will return your items within 15 business days. The shipment back to you is insured against loss (see Return Insurance Liabilities). Upon acceptance of our verbal or email quote or the clearing of an automatic payment check the Material Return policy does not apply.
Return Insurance Liabilities
Customers offering merchandise for sale to Executive Bullion understand and expressly accept and agree that they will be offered the fair market wholesale value for such items. If an item is returned to a customer, Executive Bullion will insure the item for no more than the retail replacement value regardless of what it was insured for when mailed by the customer to Executive Bullion. Executive Bullion shall, in its sole discretion, choose the return carrier, insurance, and receipt verification method for each transaction.
Choice of Law, Waiver, and Claims
This Agreement shall be governed by the laws of the State of Florida without regard to its conflict of law provisions. Executive Bullion’s failure to exercise or enforce any right or provision of the Agreement will not be deemed to be a waiver of such right or provision. If any provision of this Agreement is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties’ intentions as reflected in the provision, and the other provisions of this Agreement remain in full force and effect. You agree that regardless of any statute or law to the contrary, any claim or cause of action arising out of or related to use of the Services must be filed within one (1) year after such claim or cause of action arose or be forever barred. Any such claim or cause of action must be filed in the State of Florida.
Executive Bullion shall be entitled to reimbursement for any and all costs incurred by it in defending any civil action filed or attempted to be filed in any jurisdiction outside of the State of Florida, including but not limited to, attorney’s fees incurred by Executive Bullion.
Our Privacy Statement
When Selling to Executive Bullion
All customer information and transaction history are maintained as required under Florida law. These retained records are confidential and private except as outlined below. Executive Bullion does not sell or distribute the information to any other party. Chapter 538 Florida statutes require that we obtain, record, and transmit to law enforcement customer name, physical address, valid ID, statement of ownership and description of merchandise sold for all online/mail-in transactions. Over the counter transactions also require the right thumbprint and signature.
ALL RECORDS ARE AVAILABLE FOR INSPECTION BY LAW ENFORCEMENT FOR 3 YEARS FROM TRANSACTION DATE.
Patriot Act and AML Compliance Statement.
THE USA PATRIOT ACT OF 2001
On October 26, 2001, the President signed into law the USA PATRIOT Act. Title III of this Act makes a number of amendments to the anti-money laundering provisions of the Bank Secrecy Act of 1970 (BSA) that are intended to promote the prevention, detection, and prosecution of international money laundering and the financing of terrorism. Executive Bullion enthusiastically supports this endeavor.
Among the Act’s provisions are the requirements that all financial institutions – including dealers in precious metals – establish an anti-money laundering (AML) program and verify the identity of their customers. It is for this reason that Executive Bullion asks you for various identifying information.
For AML programs to be effective, they require each of us to be alert to possible money laundering. Generally, money laundering is the process of concealing the exact origin of criminally-derived proceeds, so they appear to have legitimate origins. This occurs in many ways, including converting cash into precious metals, then moving the metals undetected into financial systems. The Act and BSA apply severe penalties to money launderers and also to those who ignore, or are “willfully blind” to suspicious activity that turns out to be money laundering.
It is in the best interest of all of us to comply with the Act and assist in the prevention of money laundering and terrorism funding. Thank you for your part of this effort.
ANTI-MONEY LAUNDERING PROGRAM
Customer represents that it (a) has a written anti-money laundering program of compliance and supervisory procedures that complies with the Interim Final Rule of the USA PATRIOT Act and the Bank Secrecy Act, and provides for staff training and periodic audits to test the efficacy of the anti-money laundering program and its systems, (b) is not a “dealer in precious metals, stones and jewels” as defined in the Interim Final Rule of the USA PATRIOT Act, or (c) is exempt from compliance therewith by one of the following:
Retailer exemption:
Retailers that purchase only from other dealers who follow a U.S. anti-money laundering program are exempt from compliance. Additionally, retailers who purchase less than $50,000 of covered goods from non-U.S. dealers and members of the general public are exempt from compliance.
Our Frequently Asked Questions
Can I bring my items directly to Executive Bullion?
Absolutely! We welcome you to one of our convenient locations for a personal meeting with our highly qualified specialists who will discuss the valuation and purchase of your jewelry, coins, bullion, fine watches, gemstones, and diamonds. Please call (239) 418-0909 or just walk-in Monday through Friday from 9:30 am to 5:30 pm, or Saturday 10 am – 2 pm. No appointment necessary
Why sell to Executive Bullion?
Our commitment to offering the highest return for your precious metals and jewelry along with the fastest possible payment while offering the safest most secure transaction options means we can deliver complete customer satisfaction consistently. Our service and experience of over 40 years ensure that your experience with Executive Bullion is of the highest professional standards and generates the highest possible return for your items. We are one of the few BBB Accredited precious metal dealers in the country.
Why does Executive Bullion recommend shipping by the United States Postal Service?
Here at Executive Bullion, we continuously strive to determine and offer the safest, fastest, and most secure way to sell jewelry and precious metals. We understand your concerns about having the confidence and trust to send your valuables to perfect strangers. That is why we have made it our mission to provide the absolute safest and fastest service available while paying the highest prices. To explain why we consider our shipping policy the most secure method offered, let’s begin with the United States Postal Service. Did you know that any crime or fraud that is committed through the use of the U.S. Mail is a Federal offense with severe penalties? You should not send to any person or company that does not have a physical address or is unwilling to provide you with their full business identity including any Federal, State or local licensing, permits or registrations.
We offer our clients pre-paid U.S.P.S. shipping. In the event a client ships at their expense we advise our customers to insure their shipments with the United States Post Office by choosing a shipping option that balances the shipping cost along with shipping time to suit their personal requirements. Executive Bullion will reimburse this shipping and insurance cost at the time of purchase with every qualifying purchase. Our Terms and Conditions can be reviewed here.
How much are my items worth?
We at Executive Bullion determine value by purity, weight, market price, and quantity. Purity represents the actual precious metal content of the items being assayed, weight is calculated using the Troy system made up of Troy ounces and Troy pennyweights which are 1/20 of a Troy ounce, market price is established by the current NY Commodities Exchange Spot Price on the day we receive your shipment and the quantity is determined by the total weight of your complete shipment. More information on metal purity, weights, and markets can be found here. Another important part of this question is for how much you should insure the contents of your package and how to determine that value. See below.
How much should I declare for insuring my items?
While it is very rare that a package is lost using the United States Postal Service we recommend postal insurance in the event some mishap occurs. Packages should be insured for the minimum amount to cover the replacement cost of the items within; excessive insurance causes the shipping costs to increase the additional coverage dramatically will not result in a higher payment in the case of a claim to the carrier for loss or damage. Payments for claims are based on proof of value or cost and can require documentation and support for declared values such as original purchase receipts, appraisals, photographs, etc.
How do I track my shipment?
As long as the package is sent Insured Mail (First Class or Priority), Express Mail or Registered Mail the tracking can be done online at www.usps.com. This site will confirm the status of the package by entering the article number on the receipt provided by the post office. The article number must be entered exactly as shown on the receipt including numbers and letters if any. It is very likely that you will receive our notification of the receipt of your package as well as our offer to buy before the post office updates the delivery status of your package.
What if my package gets lost?
In the very rare case that a United States Postal Service package is subject to a claim for loss the postal service will process the claim according to their established procedures. They will require the documentation and proof of value for the shipment, and they will usually provide the compensation payment within 30 days. Before shipping your valuables, please review the recommended documentation to obtain or verify the value of your shipment here.
Do you notify me before sending me payment for my items?
Executive Bullion is committed to personal service with every client. Your satisfaction is our goal, and before we send payment to you, we confirm that you are fully satisfied with our offer and select the payment method that meets your needs. If we are unable to contact you or receive a response to our quotation, then we send payment by your previously selected option after 48 hours of receiving your package so that your payment is not delayed unnecessarily.
What if I decide not to sell my items?
If you decline to accept our offer to purchase at the time of quotation, we will gladly return your items at our expense. We will not be able to offer reimbursement for your original shipping costs on items that we return to you. If you received a check without quotation confirmation (see above) then just call us to let us know that you are returning our check and we will ship your items back to you at our expense once we receive it.
How soon can I get the payment for my items?
We offer SAME DAY payment by bank wire. We also offer Direct Deposit, Overnight checks, and check by mail options. Fees apply for Overnight check and bank wires. Review the fee information here. In all cases, you have your cashback before you would receive another gold buyer's mail-in "kit."
Payments made to your Paypal account are SAME DAY; however, PayPal will deduct fees according to their current fee schedule for your account.
What can I sell to Executive Bullion?
We buy all precious metal items, including gold, silver, and platinum. Check our Things We Buy page for more details. If you are unsure that your items are precious solid metal after checking our Consumer Information page for identifying metal purity markings go ahead and send them. Unlike many gold buyers, we pay for gold-filled items. The price for gold-filled is well below karat gold since it is not solid, but the value is measurable, and we include it in the offer for your items.
Does Executive Bullion buy my finer quality and antique jewelry and diamonds?
Absolutely! Our Estate Jewelry Appraiser has over 40 years of experience in jewelry valuation, purchasing, manufacturing, and retail sales. As a GIA Graduate Gemologist and Charter Senior Member of the National Association of Jewelry Appraisers and Senior Member of the Accredited Gemologists Association, he exemplifies the highest standards of ethics, integrity, and knowledge. At Executive Bullion, we offer premium prices for quality diamonds, estate jewelry, fine watches, and gemstones.
Do I need to clean or repair my items before sending them?
It is unnecessary to clean or repair anything you send to Executive Bullion. In fact, cleaning United States coins should NEVER be done since such cleaning can ruin any numismatic value that the coin may have had before cleaning. Many antique and vintage items are better left uncleaned to retain original “patina” and highest value.
Are there risks involved with buying precious metals?
All investments involve risk – coins and bullion are no exception. The value of a bullion coin is affected by many economic factors, including the current market price of bullion the perceived scarcity of the coins and other factors. Some of these factors include the quality and current demand and general market sentiment. Therefore, because bullion and coins can go up and down in value, investing in them may not be suitable for everyone. Since all investments, including bullion and coins, can decline in value, you should understand them well, and have adequate cash reserves and disposable income before considering a bullion or coin investment. Like many markets, the precious metals market is speculative, and it is unregulated. Precious Metal prices will fluctuate throughout the day while the precious metals market is open. If you are considering purchasing Precious Metals as an investment, you should assess the stability of the current market as well as contacting your financial advisor for advice.
Is gold, silver, platinum or palladium taxable?
You should consult your tax advisor for specific taxation advice in your jurisdiction. State taxes may be applicable.
Do you report my purchase of precious metals to the IRS?
Currently, the IRS approved list of transactions as recommended by the Industry Council for Tangible Assets (ICTA) that require filing of a 1099-B are listed below. Note that the filing is only required if the minimum quantities shown are purchased from an individual within a 24 hour period. Items not specific on this list are exempt from the filing requirement.
| Reportable Item | Minimum Fineness | Minimum Reportable Amount |
|---|---|---|
| Gold Bars | .995 | Any size bar(s) totaling 1 kilo (32.15 troy oz.) or more |
| Silver Bars | .999 | Any size bar(s) totaling 1000 tro oz. or more |
| Platinum Bars | .9995 | Any size bar(s) totaling 25 tro oz. or more |
| Palladium Bars | .9995 | Any size bar(s) totaling 25 tro oz. or more |
| 1 oz. Gold Maple Leaf | as minted | 25 one-ounce coins |
| 1 oz. Gold Krugerrand | as minted | 25 one-ounce coins |
| 1 oz. Gold Mexican Onza | as minted | 25 one-ounce coins |
| US 90% Silver Coins | as minted | Any combination of dimes, quarters or half dollars totaling $1000 face value or more |
"Gave a fair price for scrap silver that I sold."
- Jacob Scull
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