Precious Metals Transaction Systems and Methods

a technology of transaction system and precious metals, applied in the field of precious metals transaction system, can solve the problems of counterfeit gold and silver products, limited testing method, subjective, laborious, etc., and achieve the effect of facilitating documentation

Inactive Publication Date: 2014-07-17
THE CRAIN GRP
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Benefits of technology

[0013]The present invention overcomes the limitations and disadvantages in the art by providing a precious metals transaction system for use in conducting transactions involving articles formed of precious metals, such as jewelry, electronic circuit boards, gold teeth, etc. In accordance with a preferred embodiment, the system employs hardware including: (a) a digital camera for creating a visual record of the article of precious metal that is the subject of the transaction; (b) as scale for determining the weight of the article; (c) an XRF analyzer for determining the precious metal content at the surface of the article; (d) a non-destructive analyzing apparatus capable of determining tha

Problems solved by technology

The rise in price has caused people to seek to sell articles made of precious metals.
The price escalation associated with precious metals has also resulted in a proliferation of counterfeit gold and silver products.
This testing method, however, is limited in that it only samples the surface material of the article.
As the black stone and acid testing method is crude, laborious, subjective, and limited to analysis of surface characteristics there have been advancements in the art of gold

Method used

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  • Precious Metals Transaction Systems and Methods
  • Precious Metals Transaction Systems and Methods

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Embodiment Construction

[0024]The present invention may be understood more readily by reference to the following detailed description taken in connection with the accompanying drawing figures, which form a part of this disclosure. It is to be understood that this invention is not limited to the specific devices, methods, conditions or parameters described and / or shown herein, and that the terminology used herein is for the purpose of describing particular embodiments by way of example only and is not intended to be limiting of the claimed invention. Any and all patents and other publications identified in this specification are incorporated by reference as though fully set forth herein.

[0025]Also, as used in the specification including the appended claims, the singular forms “a,”“an,” and “the” include the plural, and reference to a particular numerical value includes at least that particular value, unless the context clearly dictates otherwise. Ranges may be expressed herein as from “about” or “approximat...

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Abstract

Systems and methods directed to the purchase of articles formed of precious metals are disclosed. Precious metal content is analyzed using an x-ray fluorescence (“XRF”) analysis instrument to determine alloy content, in combination with an ultrasound or electrical conductivity instrument to confirm uniformity of cross-sectional content. The present method thus advances the art of precious metals transactions by precisely analyzing and determining precious metal content and purity, and combining said data with real-time pricing and a digital record of the transaction including the identity of the seller. An automated system is disclosed for fully automating the purchasing of article of precious metals.

Description

CROSS REFERENCE TO RELATED APPLICATIONS[0001]This application claims the benefit of provisional U.S. Patent Application Ser. No. 61 / 752.505, filed on Jan. 15, 2013.STATEMENT REGARDING FEDERALLY SPONSORED RESEARCH OR DEVELOPMENT[0002]N / ACOPYRIGHT NOTICE[0003]A portion of the disclosure of this patent document contains material that is subject to copyright protection. The copyright owner has no objection to the facsimile reproduction by anyone of the patent document or patent disclosure as it appears in the Patent and Trademark Office patent file or records, but otherwise reserves all rights whatsoever.BACKGROUND OF THE INVENTION[0004]1. Field of the Invention[0005]The present invention relates generally to transactions involving precious metals, and more particularly to a method for precious metal transactions and an automated system for practicing said method by automated analysis and valuation of articles based on precious metal content, weight, and real time precious metals pricin...

Claims

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Application Information

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IPC IPC(8): G06Q30/06
CPCG06Q30/0609
Inventor CRAIN, GARYSUAREZ, JR., RAFAEL
Owner THE CRAIN GRP
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