FAQ

 Home / FAQ

What You Buy ?

We buy gold, silver & diamond in whichever quality and form it is in.It may be as bars, coins , ornaments ,silverwares, diamond sets, loose diamonds and so on.

Do we have to come to your shop?

Option is your ,You are free to come to one of our stores or call on us to your place to assess your valuable and for payments.

Do you do evaluation of valuable even if we don’t sell at your store ?

Yes, We do valuation of the items brought to us and help the customer to get highest return for the valuables possessed by them. The customers are free to take back the materials that are brought for valuation and dispose at there will.We don’t compel the customer to sell at our store.

How much do you charge for valuation?

Valuation is absolutely free.

Do you give cash for the assessed items?

Yes, We pay cash for transaction upto rs 20000/- . For transaction beyond rs 20.000/- payment would be made by cheques, demand draft, RTGS, NEFT as desired by the customer.

Do i need to possess an ID proof to sell gold, silver and diamond at your store?

OF COURSE YES,You have to produce valuable PHOTO ID PROOF at the time of payment without which the transaction would be declined.

What ID proof do you accept ?

The ID’S we accept are
Ration Card
passport
voter id
Aadhar card (any one of the four ).Originals to be shown and copies to be submitted.

Do I need to possess a valid document to sell the diamond, gold, silver possessed by me ?

YES, a valid document of ownership must be produced at the time of assessment and payment, without which the transaction would be declined.

Is there a tax of any form ?

There would be a purchase tax of 1% which would be deducted from the assessed value. Taxes are subject to changes and appropriate tax would be applied as per VAT rules of Tamilnadu prevailing at the time of transaction . (Purchase of old gold and silver from unregistered dealers attracts one percent tax as per VAT rules ).

Is there any service charges or transaction charges of “ Chennai Gold buyer “ ?

There would be 1% service charge for all transactions done at “CHENNAI GOLD BUYER” . This is the lowest compared to any other gold, silver and diamond buying company in the industry.

What is the procedure of valuation ?

Gold weight X Purity Percentage X Buying rate .

Note : When you go to a shop for buying gold & silver the selling rates are available on the board whereas the buying rates are not available. Remember there ia a buying rate and selling rate for every commodity including gold , silver and diamond. These rates are called “ SPOT RATES “. These rates are available with us and also in the internet.

What are your working hours ?

Our general working hours are 9.00 am to 9.00 pm however the customer as the liberty and to fix appointment and visit us even during non working hours.

What are the methods by which you test the purity of gold and silver ?

Scratch Test or Acid Test

A very small scratch is made on your gold and a drop of liquid nitric acid is applied on the spot.If the spot turns green then it is not gold or silver.if spot turns milky then it could be silver. If the spot is unaffected then it could be gold .However this is not the only method to accertain whether it is gold or silver, there are other advanced method available with us. Remember gold is non magnetic . So a magnet test will also be done.

Touch stone test

The gold or silver brought to us is tested by touch stone method. The given gold or silver is scratched against a stone available with us. Based on the colour and acid test the purity of the Gold or Silver is assessed.

Destructive and non destructive method

Some destructive fire assay method and non destructive ( x-ray fluorescence ) method are available with us.These are done using machinery held at our end using “GERMAN TECHNOLOGY “.

Are the procedures done in our presence?

Yes, every procedure is done at our store in your presence. However melting and assaying options are given to the customer.Incase some procedures are not done in your presence then a prior permission would be taken.

Can i buy back the gold and silver sold by me to Chennai gold buyer?

No, Due to the volatility of the market , the gold and silver purchased from you would be sent for recycling within one hour from the time of purchase.



SELL NOW