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he Metal Buy feature is a new addition to Jewel360 that allows you to purchase various types of precious metals from customers. This feature considers the metal type and purity, the current spot rate, the weight, and any applied markdowns and calculates a purchase price according to your preferences. Once you have calculated the price you can add it to the register and complete as the transaction.

 

Configure Precious Metal Purchasing

To get to where you can configure your Metal Buy settings, in the upper right of the system click on the Admin button with your username and go to Settings > Integrations > Metal Buy. You will see a Table of Rates for different types of precious metals, which are set by a specific unit of measure.

• Click the General Settings tab, you'll see settings as pictured above.
• If needed, change the unit of measure using the drop-list menu. Options include grams, troy ounces, or pennyweight.
• Set a default Markdown Percentage for transactions. You can always adjust this later if needed.
• You can check the box to Show Notes on Receipt if you want transaction notes to print for your customers.
• If your tax jurisdiction allows you to Apply a Metal Credit to the Taxable Amount you can check the box to enable that. Please check with your local tax authority to see if this is applicable.
• Click the Save button in the upper right when you're finished configuring this tab.

If you click the tab to view your Table of Rates, you should see the rates displaying according to your settings, as pictured below in the example for Grams. Rates in the table are updated each minute based on real-time market rates*.

*We are integrated with Metals.dev, which uses a live feed of precious metal prices from leading authorities and markets like LBMA, LME, MCX, and IBJA. 

 

Using Metal Buy in the Register

After you have configured how you want your precious metal purchasing to work, you can start running transactions with the Metal Buy feature in your Jewel360 Register.

• Go to the Register
• Add a customer or search for an existing one. (Required)
• Click the Metal Buy button to the right of the item search field. The Metal Buy window will open. (Please note, if you haven't yet added a customer, the system will require you to add one at this point.)
• Select the Metal Type, Purity, and add the Weight. The unit of measure will default to your settings but can be changed.
• The system will calculate the Purchase Price. You can manually adjust your Markdown and the Purchase Price if needed.
• Add any customer Notes to be printed on the receipt, if desired. You can use this area to 'name' and describe the item, if needed.
• Optionally, you can upload an image of the product. This is useful for your records and also to identify items when purchasing multiple precious metals.
• If you won't be doing any other precious metal purchases, click the Add button to add the item into the Register.
• If you're purchasing multiple metals, click the Add New button to enter the next item.
• You can make edits after line item is added to the Register by clicking the title of the line item or by clicking the pencil icon on the right side, as pictured below.
  
• Once you have added all items being purchased, complete the transaction in the normal way.

 

Frequently Asked Questions

Q: Can I adjust the markdown percentage after setting it in the settings page?

A: Yes, the markdown percentage can be adjusted during the transaction process.

Q: What if my state does not apply a metal credit to the taxable amount?

A: By default, the metal credit is unselected which means no credit will be applied. Check with local state tax laws to see if it applies to your store location.

Q: Is it possible to upload multiple images for a transaction?

A: Currently, only a single image can be uploaded per transaction entry.