Who buys gold?
Since the price of gold started rising, it seems like everybody buys gold. But all gold buyers are not equal.
Who is Kamaaina Coin & Cash for Gold?
Kamaaina Coin & Cash for Gold is the oldest and largest Maui gold buyer. We buy all precious metals and diamonds and have been in business on North Market Street for more than 35 years. Our trademark, Cash for Gold, is the guarantee of honest, courteous assistance when you are buying or selling gold jewelry, scrap gold, gold coins or gold bullion on Maui.
Kamaaina Coin & Cash for Gold will pay you the highest possible price for your gold in any form and in any amount. Ditto for other precious metals: silver, platinum, etc. Our prices are based on the New York spot price. Here you are on Maui, but when you sell, thanks to the Internet, you are on an even footing with any other gold seller anywhere in the world.
Nobody will offer you more. Big Rich, the owner of Kamaaina Coin & Cash for Gold, has seen it all, heard it all. Despite the hype from the newcomers, he is still the pacesetter for Maui gold buyers and sellers.
Where is Kamaaina Coin & Cash for Gold?
Just a few doors down from the place where it opened more than three decades ago, at 52 North Market Street, Wailuku. Kamaaina Coin & Cash for Gold is open seven days a week (with the exception of six holidays during the year), from 9 am-6 pm weekdays, 10 am-4 pm weekends. Call 242-5555.
How do I find out how much my gold is worth?
You will find a discussion of types of gold on the "Gold dos and don'ts" page on this site. That will give you an idea of how much gold is contained in your Hawaiian heirloom bracelet, gold chain, watch case, gold coin or piece of jewelry.
Then you need to weigh it. Kamaaina Coin & Cash for Gold has sensitive, registered and certified scales, that even automatically compensate for changes in atmospheric pressure.
A friendly and experienced pawnbroking assistant will examine your gold, in whatever form you bring it. He or she will test it (using the "acid test") to confirm its gold content; weigh it; calculate the amount of the total weight that is gold; and offer you a price based on the current price in New York.
If you are buying, your Kamaaina Coin & Cash for Gold broker will find you the amount and type of gold you want, whether in coin or gold bars. If you want gold jewelry, you will find it at our Kamaaina Loan & Cash For Gold Retail Store at 42 North Market Street.
We have a certified gemologist on staff to evaluate your diamonds and precious stones. We have a trained numismatist on staff to evaluate your coins.
How much will you buy?
How much do you have? We will buy all of it.
Do you buy silver? Diamonds?
Yes, Kamaaina Coin & Cash for Gold also pays top dollar for silver, platinum, any precious metals. And it buys jewelry, including diamonds and other precious stones; also loose diamonds.
How do I get paid?
In cash. If you are selling a large amount of gold and do not want to carry a lot of cash, arrangements can be made to pay by check drawn on a local bank.
When do I get paid?
What if I don't want to sell my gold but do want to raise cash?
You've come to the right place. Kamaaina Coin & Cash For Gold will lend you the highest possible amount based on the gold content of your jewelry, coins, bars or even raw nuggets. Your gold will be safely stored in our vault in our bonded, insured warehouse.
If you don't have gold, then silver, tools, musical instruments, almost anything of value will do.
Our pawn loans are easy, fast, convenient, private. Borrowing on pawn does not affect your credit rating. And it doesn't matter if you do not have a credit rating, or have a bad one.
When you pay off the principal and interest, you get your gold item (or other valuable collateral) back.
Gold dos and don'ts
For as far back has human history goes, gold has been the favorite "store of value." But everything that makes gold a good thing to own makes it a good thing for crooks to fake, counterfeit and cheat on.
As either a buyer or seller, you the gold trader should know the pitfalls.
Every known form of genuine gold has been faked: coins, nuggets, dust, jewelry – even whole gold mines have been and are still being faked.
All gold is alloyed, since pure gold is so soft it is impractical to handle. The amount of alloy can vary from one part in 10,000 to more than 1 part in 2.
Common metals added to gold include silver, copper, tin. Some enhance the attractiveness of gold jewelry: Adding copper creates rose gold (sometimes called pink or red gold).
Gold coins and bullion bars are usually at least 90% gold. For these types of gold, the usual description is "fineness" or parts per thousand (or even parts per 10,000 and, exceptionally, per 100,000). A United States Mint gold coin of the 21st century is .995 fine, or 99.5% gold.
When gold is bought and sold as a commodity, traders rely on the COMEX rules (Commodity Exchange of the CME Group, the world's largest clearinghouse for buying and selling all sorts of commodities from gold to oil to wheat). COMEX certifies assayers and refiners, and requires a rigorous chain of custody in the transfer of "COMEX deliverable" gold, to ensure that buyers get what they paid for.
COMEX traders move gold by the kilogram, or even hundreds of kilograms. With a kilo of gold worth upwards of $50,000 in 2012, COMEX rules are of only distant relevance to ordinary folks.
But markings, whether fineness or karat, are helpful indications of what you have. They still have to be confirmed. We have several methods of testing the genuineness of gold.
The famous method is the acid test. The item to be tested is rubbed on a stone to leave a residue. Calibrated concentrations of acid are applied, and at the point the acid erases the residue, the karat value is determined.
Coins can be tested by weight and dimensions. If the coin is the right weight and passes through the appropriate go/no go slot, it is likely genuine.