FAQ’s About Selling Gold or Silver

Yes.  We buy most all precious metals such as Silver, Gold, Platinum, Diamond jewelry, and Rolex watches at our Virginia Beach store in any condition. We also buy all types of Silver or Gold coins & bullion, and Sterling Silver flatware or serving pieces.

We do provide written insurance appraisals by a GIA Graduate Gemologist. Items for insurance appraisals can be dropped off or we can set up an appointment to have the items looked at while you wait.  There is a charge to provide a written insurance appraisal and this is determined by the items you need appraised and how much time each item takes to appraise.

Madison Jewelers is a fine jewelry store with many years of experience buying Silver, Gold, Diamonds, and Rolex watches. Our pricing on scrap gold is very competitive and when it comes to higher-end items such as Rolex watches Coins or larger Diamonds we are unmatched! Our customers must agree by voting us a “BEST CASH FOR GOLD and BEST FINE JEWELRY” winner every year since 2009 and “BEST FINE JEWELRY” GOLD winner for the last four years.

Yes. Our licensed gold buyers have over 50 years combined experience and sort through thousands of pieces each week. We suggest bringing all you have in for us to go through because the ONE item YOU think is not gold could be worth hundreds of dollars.

In most cases, we can determine what Karat or quality your gold is by looking at the items. When testing is needed we rub the item onto a stone and use different strength acids to determine the fineness or Karat of each piece.

We buy most all precious metals including Silver, Gold, Palladium, Platinum, and gold & silver Coins.

Yes. It does not matter what condition your jewelry is in. We purchase gold and other metals in any condition. For example: rings with missing stones, broken/tangled chains, and we also buy single earrings.

Yes we buy diamonds. Learn how to sell your Diamonds at our Virginia Beach store.

Yes. We do purchase Colored Gemstones and Diamonds of higher quality and values. We will  buy diamonds and select precious gemstones.

If only wanting to sell your gold and would like your diamonds or gemstones back we are happy to return them to you. If they are easily removed we can do so while you wait. All diamonds and gemstones are removed from settings at the customer’s risk.

We do not quote over the phone. Values for Gold and Silver change every minute while the precious metals market is open. We want our quote to be an offer for your gold. We will need to see exactly what and how much you have to be able to give an accurate quote for purchase.  Anyone can quote over the phone but the best offer is what you are really looking for.

Due to the fluidity of the gold market we can only guarantee your quote while you are in the store unless otherwise requested and stated. If the market goes up while you are away you will receive more for your gold and if it drops you will receive less for your gold.

You will receive payment from us when you accept our offer unless other arrangements are made.

Madison Jewelers will write you a check that can be cashed or deposited into your account unless other arrangements are made prior to the purchase. We will complete a form with some information required by the city to purchase your diamond and then have you sign for the transaction. Virginia Precious Metals Dealer Code.

Visit our store with items you are interested in selling and one of our four licensed gold buyers will sort through your gold.  Each item will be inspected for its fineness of gold or Karat and then weighted separately.  We calculate the offer for each Karat. Then total up all your metal. You may accept or refuse our offer. If the offer is accepted we will complete some paperwork and pay you for your gold.

Yes we do.  We love to support the local community and local charities. Charity events can be set up for your friends to sell their gold over a determined period in our store.  We will then donate a pre-determined amount of our proceeds to your charity.  These events if advertised by you and the charity can be quite lucrative for the charity.  .Learn more about gold for charity events in Virginia Beach.

We, NOR ANYONE ELSE in the state of VA, can’t legally buy gold from you outside of a permanent licensed place of business.  We also cannot purchase gold or any precious metals from someone other than the owner without proper documentation.  This may be needed in the case of home-bound or ill customers.  We can, however, for convenience set an appointment to sort through your gold at your home.  However, you will still have to arrange a time to visit our store to complete the purchase.

To participate in our cash for gold program, you will need a valid state or government photo ID such as a Drivers License, Military ID or US Passport and a second form of ID. The second form of ID can be a credit card or membership card with your same name on it.