Precious Metals Transaction Systems and Methods

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.

What is claimed is: 
     
         1 . A system for conducting a purchase transaction between a seller and a buyer involving an article formed of precious metal, said system comprising:
 a kit of hardware components including:   an XRF analysis device;   a uniform alloy content analysis device;   a digital imaging device;   a digital scale;   a biometric fingerprint scanner;   a document scanner; and   a computer including means for user input, an electronic display, a computer processor, a data storage device, a microphone, said computer adapted for electronic communication with a remote precious metals exchange, and a printer in data communication with said computer;   wherein said hardware components are employed in conducting a transaction between a seller of an article formed of precious metal and a buyer in accordance with the following steps:   capturing images of said article using said digital camera and storing said images on said computer data storage device;   determining the alloy composition of said article using said XRF analysis device;   confirming whether said alloy composition is uniform throughout said article using said uniform alloy content analysis device;   determining the weight of said article using said digital scale;   determining the current market value of precious metals via electronic communication between said computer and at least one precious metals exchange;   calculating a offer price for the purchase of said article based on the weight of said article, the precious metal content of said article, and the market value of precious metals;   making a purchase offer to the seller and confirming the seller's acceptance of said purchase offer;   obtaining a biometric fingerprint sample from the seller using said fingerprint scanner, and storing said fingerprint sample on said computer data storage device;   obtaining a digital copy of the seller's drivers license using said document scanner, and storing said copy on said computer data storage device;   generating a bill of sale form using said computer and said printer to document the transaction, said bill of sale form including information identifying the seller as obtained from the digital copy of the seller's drivers license, a description of the article, at least one of said images of said article, and a printout of said biometric fingerprint sample; and   paying the seller for the article upon seller's execution of said bill of sale.   
     
     
         2 . The system according to  claim 1 , wherein said uniform alloy content analysis device comprises an ultrasound instrument. 
     
     
         3 . The system according to  claim 1 , wherein said uniform alloy content analysis device comprises an electrical conductivity analysis device. 
     
     
         4 . A method of conducting a purchase transaction between a seller and a buyer involving an article formed of precious metal, said method including the steps of:
 capturing images of said article using said digital camera and storing said images on a computer data storage device;   determining the alloy composition of said article using an XRF analysis device;   confirming whether said alloy composition is uniform throughout said article using a uniform alloy content analysis device;   determining the weight of said article using said digital scale;   determining the current market value of precious metals via electronic communication with at least one precious metals exchange;   calculating a offer price for the purchase of said article based on the weight of said article, the precious metal content of said article, and the market value of precious metals;   making a purchase offer to the seller and confirming the seller's acceptance of said purchase offer;   obtaining a biometric fingerprint sample from the seller using a fingerprint scanner, and storing said fingerprint sample on said computer data storage device;   obtaining a digital copy of the seller's drivers license using a document scanner, and storing said copy on said computer data storage device;   generating a bill of sale form using said computer and said printer to document the transaction, said bill of sale form including information identifying the seller as obtained from the digital copy of the seller's drivers license, a description of the article, at least one of said images of said article, and a printout of said biometric fingerprint sample; and   paying the seller for the article upon seller's execution of said bill of sale.   
     
     
         5 . The method according to  claim 1 , wherein said uniform in alloy content analysis device comprises an ultrasound instrument. 
     
     
         6 . The method according to  claim 1 , wherein said uniform alloy content analysis device comprises an electrical conductivity analysis device. 
     
     
         7 . An automated system for conducting a purchase transaction between a seller and a buyer involving an article formed of precious metal, said automated system comprising:
 a stand alone housing including:   a computer including means for receiving user input, an electronic display, a computer processor, a data storage device, a microphone, said computer adapted for electronic communication with a remote precious metals exchange, and a printer in data communication with said computer;   an analysis chamber accessed via an openable closure;   a mount disposed within said analysis chamber and adapted to receive an article formed of precious metal;   a digital scale connected to said mount and configured to weigh the article placed on said mount, said digital scale in electronic communication with said computer to store the determined weight of said article on said computer data storage device;   at least one digital camera configured to capture digital images for the article, said digital camera in electronic communication with said computer to store said captured digital images on said computer data storage device;   an XRF analysis device configured to determine the alloy composition of the article at at least one location, said XRF analysis device in electronic communication with said computer to store the determined alloy composition on said computer data storage device;   a uniform alloy content analysis device to confirm whether said alloy composition detected by said XRF analysis device is uniform throughout the article, said uniform alloy content analysis device in electronic communication with said computer to store content uniformity confirmation data on said computer data storage device;   said computer configured to calculate an offer price for the purchase of said article based on the weight of said article as determined by said scale, the precious metal content of said article as determined by said XRF analysis device, and the market value of precious metals obtained by real-time communication with a precious metals exchange;   said electronic display activated to display a purchase offer to the seller and prompting said seller to either accept or reject said purchase offer;   said means for means for receiving user input functioning to confirm the seller's acceptance of said purchase offer;   a biometric fingerprint scanner configured to obtain a biometric fingerprint sample from the seller, said biometric fingerprint scanner in electronic communication with said computer to store said biometric fingerprint sample on said computer data storage device;   a document scanner configured to obtain a digital copy of the seller's drivers license, said document scanner in electronic communication with said computer to store said digital copy on said computer data storage device;   said computer generating a bill of sale form for output by said printer to document the transaction, said bill of sale form including information identifying the seller as obtained from the digital copy of the seller's drivers license, a description of the article, at least one of said images of said article, and a printout of said biometric fingerprint sample; and   a dispenser for dispensing cash to pay said seller for said article upon seller's execution of said bill of sale.   
     
     
         8 . The automated system according to  claim 7 , wherein said uniform alloy content analysis device comprises an ultrasound instrument. 
     
     
         9 . The automated system according to  claim 7 , wherein said uniform alloy content analysis device comprises an electrical conductivity analysis device.