Effective Date: 02/28/2026
Marblehead Custom Jewelry (“we,” “us,” “our”) buys gold, silver, platinum and related items, and also offers refining services on a consignment basis. By selling precious metals to us or consigning materials for refining, you (“Customer,” “Seller,” “Client”) agree to the terms below, in addition to our general Terms & Conditions and any signed receipts or forms.law.justia+2
1. Identification & Recordkeeping
1.1 Identification Required
For all gold, silver, and platinum purchases and refining consignments, we require government‑issued photo identification (for example, driver’s license, state ID, passport) before completing the transaction.
1.2 Records
As required by Massachusetts law, for transactions at or above the applicable threshold, we keep a record including:
- Seller’s full name and address;
- Description and weight/quantity of items purchased;
- Purchase price; and
- Date of transaction and ID details.
These records may be made available to law enforcement or licensing authorities as required by law or local regulations.
1.3 Seller Declaration
You must declare that you are the rightful owner of the materials being sold or consigned and that, to the best of your knowledge, they are not stolen or unlawfully obtained. False statements may be referred to law enforcement.
2. Refining Consignment (Not an Immediate Sale)
2.1 Consignment Relationship
When you complete our Gold Refining Consignment Receipt, you are not selling the material to Marblehead Custom Jewelry at intake. Title and ownership remain with you until final settlement.
2.2 Role as Agent
We act as your refining agent, arranging secure transport of your material to a third‑party refiner and/or sale of the resulting refined metal. Settlement is based on the refiner’s final assay and terms.
2.3 Settlement & Payment
- Payment is made after the refiner issues its final settlement/assay report.
- The amount due is calculated as a stated percentage of the net fine metal value (after refiner fees/charges), using the applicable market price as of the refiner’s settlement date (as indicated on your signed consignment receipt).
- Any “locked‑in” price quoted at intake (if applicable) will be documented and used as stated on the receipt.
2.4 Refiner Assay Controls
Weights and karat/purity assessed at intake are estimates only. The refiner’s assay and settlement report will govern the final payable amount. We are not responsible for differences between preliminary estimates and the refiner’s final report.
2.5 Advances Against Settlement
If we provide an advance payment at intake, it is an advance against final settlement, not a purchase price. Any advance will be deducted from the final amount due to you, and any over‑payment/under‑payment will be reconciled at settlement.
2.6 No Cancellation After Refining Begins
Once your material has been shipped or delivered to the refiner, the consignment cannot be cancelled, and the material cannot be returned in its original form. Settlement will occur based on the refiner’s report.
3. Gold Purchases – Store Credit
3.1 Store‑Credit Transactions
When you complete our Gold Credit Receipt, you are selling your material to Marblehead Custom Jewelry in exchange for store credit instead of cash.
3.2 Rightful Ownership & Lawful Origin
You must certify that you are the rightful owner of the items and that, to the best of your knowledge, they are not stolen or unlawfully obtained, under penalty of law.
3.3 Store Credit Terms
- Once accepted as store credit, the amount is non‑refundable and non‑transferable.
Please see our Return & Exchange Policy for complete store credit terms (Return & Exchange Policy, section 4.2 Store Credit and Gift Card Terms). - Store credit may be used for anything in store, including repairs, custom work, and in‑stock (“case”) sales, subject to any expiration or use terms disclosed at the time of issuance and applicable law.
3.4 Pricing Basis
The Total Amount Paid and any applicable rate are determined using the then‑current market (“spot”) price and our posted or quoted purchase percentages, as recorded on the Gold Credit Receipt.
4. Gold Purchases – Cash
4.1 Cash Purchase Transactions
When you complete our Gold Purchase Receipt, you are selling your material to Marblehead Custom Jewelry for cash (or equivalent payment method). Once the transaction is completed and paid, ownership transfers to us.
4.2 Client Information & ID
We collect and record client information, including name, address, contact details, and government‑issued photo ID, consistent with Massachusetts law and any applicable local licensing requirements.
4.3 Final Sale
Gold purchases for cash are final once payment is made and the receipt is signed, except as required by applicable law or local secondhand/precious metal dealer regulations.
4.4 Pricing Basis
The price we pay is based on the then‑current daily spot price (per troy ounce) and our purchase rate for the relevant karat or form of metal, as shown on the Gold Purchase Receipt.
5. Descriptions, Testing & Assay
5.1 Testing Methods
Items may be tested using visual inspection, stamps/marks, magnet tests, acid tests, XRF, or other industry‑standard methods to estimate karat, purity, and content.
5.2 Preliminary Estimates
Weights, karat marks, and spot price references given during evaluation are preliminary estimates and may differ from:
- Final measured weight at the point of purchase or consignment settlement; and
- Refiner’s assay results (for consignment/refining).
5.3 No False Marking
We comply with Massachusetts laws that prohibit mis‑marking or misrepresenting the fineness or gold content of articles.
6. Risk, Liability & Insurance
6.1 Refining Consignment Risk
While consigned material is in our possession or in transit to/from the refiner, we use reasonable care and work with reputable carriers and refiners. However, some risk exists in shipment, handling, and refining. To the fullest extent permitted by law, our liability for loss or damage in connection with refining consignment is limited to:
- Any insurance or declared value we have specifically arranged for that shipment; and
- In no event more than the amount ultimately payable under the refiner’s settlement or your signed consignment agreement.
6.2 Insurance Recommendation
We strongly recommend that clients maintain their own insurance or coverage for high‑value or sentimental items until settlement is complete.
6.3 Gold Purchases – After Sale
Once you have sold metal to us for cash or store credit and the transaction is completed, risk and ownership pass to Marblehead Custom Jewelry, and you no longer have any interest in the material.
7. Compliance with Laws & Local Regulations
7.1 State Law
We comply with Massachusetts General Laws relating to gold, silver, and platinum dealers, including recordkeeping and identification requirements.
7.2 Local Licensing & Rules
We also comply with applicable municipal requirements for secondhand/precious metal dealers, which may include licensing, holding periods, and transaction reporting. Our policies and procedures may be updated from time to time to reflect changes in state or local law.
7.3 Suspicious or Prohibited Transactions
We reserve the right to refuse any transaction and to report suspicious activity to law enforcement or licensing authorities as required or permitted by law.
8. Contact Information
For questions about our Gold Buying, Selling & Refining Policy, or to request a copy of our current forms and rates, please contact or visit:
Marblehead Custom Jewelry
Phone: 413‑238‑1383
Email: info@marbleheadcustomjewelry.com
Address: 66 Washington St, Marblehead, MA 01945
Website: https://marbleheadcustomjewelry.com
Policies: https://marbleheadcustomjewelry.com/policies/
We thank you for choosing Marblehead Custom Jewelry and appreciate your business.
