PRICE GOLD
STEP 1: WEIGH IN TROY OUNCES — Always use troy scale (31.1g = 1oz). Never use regular scale.
STEP 2: TEST WITH ACID KIT — Test in order: 10K → 14K → 18K → 22K. Mark stone if needed.
STEP 3: KARAT PURITY
10K = 41.7% pure gold14K = 58.3% pure gold18K = 75.0% pure gold22K = 91.7% pure gold
STEP 4: CALCULATE — Spot Price × Karat % × Weight × 0.80
EXAMPLE: $2,400 spot, 14K ring, 5.2g (0.167 oz) → $2,400 × 0.583 × 0.167 × 0.80 = $186.40
NEVER PAY MORE THAN 80% OF MELT VALUE
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PRICE SILVER
STERLING = 92.5% PURE — Most common. Marked "925".
COIN SILVER = 90% — Older flatware.
PAY 70% OF MELT — Never more.
FORMULA: Spot × 0.925 × Weight × 0.70
EXAMPLE: $30 spot, 10oz sterling → $30 × 0.925 × 10 × 0.70 = $194.25
TEST: Magnet test (non-magnetic), acid test, or XRF.
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TROY VS REGULAR WEIGHT
TROY OUNCE = 31.1 GRAMS — Used for gold, silver, platinum.
AVOIRDUPOIS OUNCE = 28.35 GRAMS — Used for food, tools, etc.
NEVER MIX SCALES — Always convert to troy when pricing metals.
CONVERSION: 1 troy oz = 1.097 regular oz
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KARAT GUIDE
10K — 41.7% gold — Durable, affordable
14K — 58.3% gold — Most popular
18K — 75.0% gold — Softer, richer color
22K — 91.7% gold — High value, soft
24K — 99.9% gold — Pure, not for jewelry
TEST: Look for stamp inside ring or use acid kit.
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WRITE A LOAN
1. VERIFY ID — Valid DL or state ID
2. TEST ITEM — Gold, tools, guns, etc.
3. AGREE ON AMOUNT — Max 60% of resale
4. FILL PAWN TICKET — Item, amount, customer info
5. 30-DAY TERM — 20% interest
6. GIVE CASH + COPY
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BUY ITEMS
PAY 30–50% OF RESALE VALUE
TEST AUTHENTICITY: Gold, tools, electronics
GET RECEIPT FROM CUSTOMER
LOG IN SYSTEM: Description, serial, price
MARKUP 100–200% for profit
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REDEEM ITEM
CUSTOMER PAYS: Loan + 20% interest
EXAMPLE: $100 loan → $120 due
VERIFY TICKET & ID
RETURN ITEM
UPDATE SYSTEM — Mark as redeemed
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DAY 91: Item becomes store property
10-DAY GRACE PERIOD — Still redeemable
AFTER DAY 40: Move to sales floor
PRICE TO SELL: 2–3x loan amount
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IDENTIFY TOOLS
CHECK BATTERY HEALTH: Charge & test
LOOK FOR WEAR: Cracks, rust, damage
MODEL NUMBER: Verify online value
TEST ON SITE: Drill, saw, etc.
BRANDS: Milwaukee, DeWalt, Ryobi, Makita
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ATF 4473 FORM
CUSTOMER FILLS YELLOW FORM
RUN NICS BACKGROUND CHECK — Call or online
WAIT FOR APPROVAL: Proceed, Denied, Delayed
LOG IN BOUND BOOK
21+ FOR HANDGUNS, 18+ FOR RIFLES/SHOTGUNS
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SERIAL NUMBER CHECK
ENTER IN LEADSONLINE — Daily
IF STOLEN: Hold item, call police
DO NOT RELEASE to customer
TAKE PHOTOS of item and serial
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HANDLE DIFFICULT CUSTOMERS
STAY CALM & PROFESSIONAL
LISTEN FIRST — Let them vent
OFFER SOLUTIONS — "I can do this..."
CALL MANAGER if needed
NEVER ARGUE — Smile and solve
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UP-SELL TECHNIQUES
"Would you like a case with that?"
"This battery is on sale!"
"Add a drill bit set for $10?"
GOAL: Increase ticket by 20%
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PHONE ETIQUETTE
ANSWER: "Thank you for calling Texas Pawn Starz, this is [Name], how can I assist you today?"
BE FRIENDLY & HELPFUL
TAKE MESSAGE if needed
NEVER SAY "I DON'T KNOW" — Say "Let me find out!"
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