Gold and precious metal buying machine method

Abstract

The machine or method buys gold or precious metal items. A housing with a vault is linked to a central office for tracking buy/no-buy sales events and uploading current exchange rate data. The item is placed on a platform leading to processing stations which weigh, image, assay and convey the item to the vault (buy) or return-route (no-buy). User display commands and offers-to-buy, capture user images, scan identity and biometric data and permit user-keyed input. A computer processor calculates a discounted market value based upon exchange rate, weight, assayed purity and discounts. A compiler stores seller's data including seller responses, images and scanner data and buy/no-buy data. An acceptance module initiates a credit event and delivers the item to the vault. A rejection module negates acceptance upon user command or if an error in gold purity, weight, discounted market value or size.

Description

This is a regular patent application based upon and claiming the priority of provisional patent application Ser. No. 61/618,540, flied Mar 30, 2012, the contents of which is incorporated herein by reference thereto.

The present invention relates to a gold buying and method and a precious metal buying machine and method.

Consumers and customers oftentimes have gold bearing items such as jewelry, fanciful dinner plates, coins and other items, as well as other types of items made of precious metals (silver and platinum). Some of these customers may wish to sell these items in a secure manner with some confidence that the price is based upon an exchange rate market price for the gold or the precious metal. The present invention solves this problem.

U.S. Pat. No. 7,844,547 to Amos discloses a kiosk permitting consumers to buy and sell gold. The kiosk has a receiving slot for gold bullion and gold coin. Gold and jewelry placed in the kiosk can be assayed with electrical and thermal conductivity, MRI or X-rays. However, Amos does not give further details of how the assay process is done on the gold and jewelry.

Published PCI Patent Application, WO 2011022424 to Kerschner discloses a system for managing gold bullion transactions at a consumer-operated kiosk by paying a transaction price when receiving authenticated gold bullion or when gold bullion is sold to a customer.

Published Japanese Patent JP 2002109428 discloses a gold exchange that exchanges gold of predefined weight for currency, and connecting the gold buying machine to a central office to determine the market price of gold at the time of settlement.

Published Japanese Patent JP 59108167 discloses unattended ATM machine with access chamber for gold bullion.

U.S. Pat. No. 6,415,271 to Turk et al, discloses asset-based electronic cash system for financial transactions whose total value is equal to the stored amount of valuable commodity.

U.S. Pat. No. 7,752,108 to Pratt et al. discloses asset-backed purchasing module to debit the consumer account by selling quantity of asset backing purchase account balance to house account.

Other U.S. patent and patent application references that may be relevant are: U.S. Pat. No. 6,131,085 to Rossides entitled Answer Collection and Retrieval System Governed by a Pay-Off Meter; U.S. Pat. No. 8,015,089 to Baya'a et al. entitled System and Method for Providing a Pre-Paid Commodity-Based Credit Account; U.S. Published Patent Application No. 2011/0071668 to Lin et al. entitled Vending Machine Monitoring System and Its Monitoring Method; U.S. Published Patent Application No. 2011/0060655 to Novak et al. entitled Currency Market Utilizing Precious Metals and Gemstones; U.S. Published Patent Application No. 2010/0223127 to Bettez et al. entitled Method and Apparatus for Managing Shipping and Advertisement Information in a Communications environment; Korean Published Patent Appln. KR 20090093231; Korean Published Patent Appln. KR 20090093225; Published PCT Patent Application, WO 2011078765 entitled Interactive Kiosk; Published PCT Patent Application, WO 2011011942 entitled Automatic Gold Bar Vending Machine; and Published PCT Patent Application, WO 2004001562 entitled Systems and Methods for Storage of User Information and for Verifying User Identity.

OBJECTS OF THE INVENTION

It is an object of the present invention to provide a gold buying machine capable of buying a number of gold bearing items and a similar machine for buying items containing other precious metals. A method is also presented herein.

It is a further object of the present invention to provide a gold buying machine which presents the price or offer to buy prior to the consumer accepting the offer.

It is another object of the present invention to provide a gold buying machine and a method and a precious metal buying machine and method wherein the offer to buy presented to the consumer is based upon the exchange rate market price less a transaction or discount fee. The transaction fee accounts for size, weight and volume errors, the presence of jewels, as well as fraud, theft and other system costs.

It is another object of time present invention to provide a gold buying machine and as precious buying machine which reduces fraud by capturing user supplied data based upon questions presented to the user at the seller interface module. The seller's interface module includes a display screen, keypad, fingerprint reader, multiple cameras, credit card and driver license readers, and audio announcer systems. Voice print recorder may also be used.

The system is also programmable to capture customer data based upon local ordinances governing pawn shop operations.

SUMMARY OF THE INVENTION

The machine and the method for buying gold-bearing items (or other items made of precious metal) from consumers includes a secure housing with an internal vault. The machine is coupled via a telecommunications link to at central office which tracks the purchase of gold-bearing items at the machine and tracks related transactions (attempts to sell gold items at the machine) and provides updates relative to the exchange rate market price data for gold. The housing includes a portal leading inboard to a processing platform which holds the gold or precious metal bearing item. A plurality of processing stations are disposed in the interior of the housing. A lock-out door closes the portal during item processing.

The plurality of processing stations include: a weigh station to weigh the gold-bearing or precious metal-bearing item, an imaging station for capturing images of the item, an assaying station for testing a purity of gold in the item, and a conveyor or routing transport system for delivering a purchased item to the vault. The weigh station, imaging station and assaying station respectively generate representative signals for weight, item images and assaying data. A plurality of seller interface modules are disposed on the exterior of the housing including a display, an imaging system to capture one or more images of the seller, at least one scanner for obtaining seller's identity and biometric data, a keypad input interface and a bank card reader adapted to read the seller's bank card. The seller's bank card is linked to the seller's account which, if the sale is consummated, is credited after the gold-bearing item is deposited in the vault.

A control computer processor electronically obtains the respective weight, item images and assaying signals from the processing stations. The processor is mounted in the secure housing. The control processor includes: a communicator for facilitating communication with the central office to obtain current exchange rate data for the gold; as calculation module for determining a discounted market value for the gold-bearing item based upon the exchange rate data, and the weight signals, a purity based upon the assaying data, and the discount factors; and an interface for activating the user's display. The display shows instructions to the user regarding acceptance and rejection of the offer to buy, and the offer to buy the item at the determined or calculated market value (discounted from the calculated exchange rate value).

A compiler operative with the processor stores seller's data obtained from the seller interface modules including seller responsive data (responsive to the displayed offer to buy), seller images and scanner data for seller's identity and biometric data. The compiler also stores transactional data. An acceptance module initiates a credit event for the seller's account based upon the seller's confirmation of sale. The conveyor or router delivers the purchased item to the vault in the secure housing. If the user does not sell the item (rejects the offer to buy), a rejection module negates the acceptance module. A rejection also is initiated when an error signal is detected. An error module generates an error signal based upon one or more of: a gold purity fault, a weight fault, a discounted market value fault, and an item size fault. The rejection module facilitates the return of the item to the user.

BRIEF DESCRIPTION OF THE DRAWINGS

Further objects and advantages of the present invention can be found in the detailed description of the preferred embodiments and in the illustrated drawings of the preferred embodiments of the invention.

FIG. 1 diagrammatically illustrates the gold buying and precious metal buying machine with operational modules;

FIG. 2 diagrammatically illustrates other functional modules in the gold buying and precious metal buying machine;

FIG. 3 diagrammatically illustrates stations which process the item subject to the purchase;

FIG. 4 diagrammatically illustrates a different configuration for the stations wherein the item is stationary.

FIG. 5 diagrammatically illustrates time based processing of the item subject to the potential purchase;

FIGS. 6A-D diagrammatically illustrate several operational flowchart; and

FIG. 7 diagrammatically illustrates the computerized network which is tied to the gold and precious metal buying machine.

DETAILED DESCRIPTION OF THE PREFERRED EMBODIMENTS

The present invention relates to a gold buying and precious metal buying machine and a computerized system for tracking the sales and updating buying parameters in a plurality of remote buying machines. Although reference is made herein to a “gold buying machine” or “GBM” the machine, system and process can be employed with other previous metals. Therefore, the reference to a “gold buying machine” or GBM is not limited to gold items but the GBM also operates on precious metal items.

The general features and functions of the GBM machine are as follows. (1) Customer places gold-bearing item (“gold”) into a Gold Buying Machine (“GBM”), a solid, secure machine like an ATM or automatic teller machine; (2) Gold is dropped or shuttled to a “Weigh+Exam” plate or bowl; (3) At the W-E station or stations, the gold is weighed and a x-ray image or images are obtained of the gold piece. Prior to the x-ray analysis, the piece is grabbed or gripped, and then a jeweler's file is used to make a small cut on the surface of the piece. The x-ray gun and x-ray processing system uses the small file slot to detect the percent % gold of the piece under study; (4) The x-ray is used to assay the gold. A computer algorithm (i) obtains current local price per weight (14K standard) (Internet access); (ii) the computer system or processor in GBM calculates the price of the gold accounting for % gold per unit weight; (iii) the GBM computer discounts “offer to buy gold” to account for transaction costs, fraud, commissions, etc.; (iv) GBM machine displays the discounted “offer to buy” gold and customer accepts/declines offer. If a BUY, GBM machine dispenses cash or initiates a credit event (issues credits) on a customer's debit card or credit card. GBM then places the gold piece or item in a secure vault in the interior of the GBM. If NO BUY, then GBM returns item to customer; (5) The GBM has the following data processing items: (i) obtain customer fingerprint, photo and scan customer id, such as a driver's license; (ii) obtain customer profile data (requires data input from customer); (iii) customer completes local law “gold purchase” log sheet (Q: is gold stolen?; are you a felon?, etc); (iv) large gold items rejected (returned) to customer as “too big”; (v) thick gold items rejected (returned to customer) due to “fraud by weight” tricks.

FIG. 1 diagrammatically illustrates a gold buying machine GBM 51 which can also be configured as a precious metal buying machine. Housing 50 is designed to be secure and difficult to break into. Vault 52 is disposed in an interior location within housing 50. Housing 50 includes an opening or portal 54 into which a consumer or user places an item 55 subject to a potential purchase. Portal 54 has a lockout door 56 which closes and thereby secures item 55 within the machine for processing. The door closes before any processing function.

Machine 50 includes a plurality of seller interface modules. Examples of these modules includes display screen 58, a camera 60 which captures an image or images of the seller (multiple cameras may be used), an audio announcer or speaker 62, an identity (Id.) card scanner 64, a keypad 66 which permits the user to input items and a fingerprint reader 68. Keypad 66 may be a discrete unit or may be part of a touch screen display as part of display screen 58. Scanner 64 is configured to scan various seller identity cards (driver's license) as well as a seller's bank card. Reference to a “bank card” includes a credit card, debit card or any other financial card issued by a financial institution. From an operational standpoint, a seller's account associated with a bank card will be credited at the time of sale of the item by GBM buying machine 51.

The seller interface module may also include a separate credit card or bank card reader 70, a cash dispenser 72 and a printed material dispenser 74. All these items are explained later in their operational setting. The primer 74, display 58, camera 60 and user input (66 or touch screen 58) are important parts of the seller interface module group.

Once gold or precious metal bearing item 55 is placed on a processing platform within housing 50, in one embodiment, the item 55 is transported to a variety of processing stations, stations 1, 2, 3 and 4. Reference is made herein to “gold bearing item” but this reference also covers other precious metal items. If the consumer does not accept the offer to buy, item 55 is returned as noted by the return path of the dash dot dash double lines. If the seller agrees and confirms the sale, the item 55 is delivered to vault 52 within buying machine 51.

In order to provide up to date data regarding exchange rate market prices and in order to track transactions, buying machine 51 has a telecommunications link with central office 18, 20 (described in the summary in connection with FIG. 7 that follows). Central office 18, 20 is coupled to telecommunications system 10 and other GBM machines 14a and 16a. Further, the telecommunications system 10 is coupled to a gold exchange data center which generates exchange rate market price data for the system. Of course, rather than having a gold buying machine, the machine may be expanded to include other precious metals.

FIG. 2 diagrammatically illustrates certain hardware and electronic modules utilized by buying machine 51.

Main computer processor 80 is disposed inside housing 50. Various signals from camera-A, identified as camera 82, as well as the output signals from camera-B are fed to signal conditioner 84. In order to assay the item and determine the amount of gold and other precious metal, an X-ray imaging system 86 is utilized. The output from X-ray system 86 is fed to signal conditioner 84. In order to convert and obtain the market value of the item under study, the item is weighed as noted by weigh scale or weighing device 87. The output from weight scale 87 is applied to signal conditioner 84. By using X-ray imaging system 86, the item under study is first gripped and then a small slot or groove is filed in the item. A jewelers file 90 is deployed on the grip and file module 92. Grip elements 94 initially grip the item and file 90 is then moved across and over the item. Thereafter, X-ray sub-module 86 takes an X-ray picture and generates assay data signals which are applied to signal conditioner 84. The grip and file unit 92 is controlled by an actuator signal generator 96. Generator 96 controls the grip action and the file action. Robotics modules are employed in this manner. With respect to main processor 80, the processor obtains many of the inputs from the seller interface data base1A 7 diagrammatically illustrates the global telecommunications system or Internet 10 which enables communication and data transport between a plurality of relatively independent GBM computer systems 12, 14, 16, 17 14a, 16a, 18 and 20. Communications System 10 may include cellular or wireless comm channels to the gold buying machines. A As indicated earlier, each gold buying machine includes a computer system, therefore, systems 14, 16 14a, 16a in FIG. 1A 7 depict the computer system sin systems in the gold buying machines. Computer system 12 includes monitor 22, input device or keypad 24, input device or mouse 26, and processor unit 28. Processor unit 28 includes a central processing unit or CPU 30, memory 32 and an input/output or I/O device 34. It should be appreciated that memory 32 represents many types of data storage including hard drives, volatile and non-volatile memory, and removable drives. Also, I/O 34 represents a plurality of input/output devices which are utilized to couple items which are peripheral to processing unit 28. I/O 34 is connected to Internet 10. Computer 17 is a laptop computer which can easily be disconnected from Internet 10. Computer 18 is an administrative computer which assists in the overall control and operation of the system by the Sys Op and the method described herein.

In a preferred embodiment, the system and method are deployed on Internet 10 via computer system server 20. The telecom system may be wired, wireless or a combination of both. Server 20 includes CPU 36, memory 38 and I/O 40, and is coupled to Internet 10.

In a different embodiment of the present invention, the system or processing system or method may be partially or entirely carried out with the use of a telephone communications center 42. The telephone communications center typically includes one or a plurality of computers 44 and one or more telephones 46. Human operators may answer telephone inquiries from a customer at a gold buying machine. Also, the Tele Comm may be fraud detection system which in real time can stop the gold buying transaction.

For example, once the customer's id is scanned by the gold buying machine, if the id matches a “wanted criminal” in a database (as posted by the police authority), then the Tele Comm center may cancel a gold buying transaction in the middle of the transaction. Also, the Tele Comm Center may notify police of the incident.

The input of information can be facilitated by a person at telephone communication communications center 42. For example, computer 44 could display questions which the operator could audibly present via telephone 46 to a caller. The operator would input into computer 44 the caller's answers and system 44 communications center 42 could generate appropriate responses to complete data entry forms for the system.

The information obtained by computer 12 is generally stored in server 20. Thereafter, the information is processed by server 20 and the output information representing processed data is delivered via Internet 10 or Tele Comm Sys 10, and ultimately to computer 12, 14, 16 14a, 16a. FIG. 1B 7 shows that data input by a customer is sent to the server 20 which returns further web page data A4. The web page may be informational to the buyer at the gold buying machine.

Although the system and method is described generally for use in conjunction with Tele Comm Sys 10, the system and method could be utilized by a single computer, such as laptop operated by a Sys Op or a jewelry store or pawn shop owner. Laptop 17 The laptop could be utilized with a CD-ROM storing a major portion of the data bases databases necessary to carry out the principles of the present invention. Further, the information processing system could be deployed over a local area network or a wide area network or utilized exclusively in-house by a single company with subsidiaries bidding for a gold buy.

Discussion of Hardware and Software Implementation Options

The present invention could be produced in hardware or software, or in a combination of hardware and software, and these implementations would be known to one of ordinary skill in the art. The system, or method, according to the inventive principles as disclosed in connection with the preferred embodiments, may be produced in a single computer system having separate elements or means for performing the individual functions or steps described or claimed or one or more elements or means combining the performance of any of the functions or steps disclosed or claimed, or may be arranged in a distributed computer system, interconnected by any suitable means as a local area network (LAN) or widely distributed network (WAN) over a telecommunications system (such as the Internet) as would be known to a person of ordinary skill in the art.

According to the inventive principles as disclosed in connection with the preferred embodiments, the invention and the inventive principles are not limited to any particular kind of computer system but may be used with any general purpose computer, as would be known to a person of ordinary skill in the art, arranged to perform the functions described and the method steps described herein. The operations of such a computer, as described above, may be according to a computer program contained on a medium for use in the operation or control of the computer, as would be known to person of ordinary skill in the art. The computer medium which may be used to hold or contain the computer program product, may be a fixture of the computer such as an embedded memory or may be on a transportable medium such as a disk, as would be known to one of ordinary skill in the art.

The invention is not limited to any particular computer program or logic or language, or instruction but may be practiced with any such suitable program, logic or language, or instructions as would be known to one of ordinary skill in the art. Without limiting the principles of the disclosed invention any such computing system can include, inter alia, at least a computer readable medium allowing a computer to read data, instructions, messages or message packets, and other computer readable information from the computer readable medium. The computer readable medium may include non-volatile memory, such as ROM, flash memory, floppy disk, disk drive memory, CD-ROM or other optical memory storage devices, and other permanent storage. Additionally, a computer readable medium may include, for example, volatile storage such as RAM, buffers, cache memory, and network circuits.

Furthermore, the computer readable medium may include computer readable information in a transitory state medium such as a network link and/or a network interface, including a wired network or a wireless network, that allow a computer to read such computer readable information.

The claims appended hereto are meant to cover modifications and changes within the scope and spirit of the present invention.

Claims

1. A machine for buying gold-bearing items from consumers, the machine coupled to a central office via a telecommunications system for tracking the purchase of gold-bearing items and related transactions by the machine and providing updates relative to the exchange rate market price data for gold to the machine, comprising:

a secure;

a vault within the housing;

a portal in said housing leading inboard to a processing platform and a plurality of processing stations in the interior of said housing, said processing platform adapted to retain said gold-bearing item as deposited through said portal;

said plurality of processing stations including: a weigh station to weigh said gold-bearing item, an imaging station for capturing images of the item, an assaying station for testing a purity of gold in said item, and a conveyor means for delivering a purchased item to said vault, said weigh station, imaging station and assaying station respectively generating representative signals for weight, item images and assaying data;

a plurality of seller interface modules on and about an exterior of said housing including a display, an imaging system to capture one or more images of said seller, at least one scanner for obtaining seller's identity or biometric data, a keypad input interface and a bank card reader adapted to read a seller's bank card linked to a seller's account to be credited for the sale of said gold-bearing item;

a control processor electronically obtaining respective weight, item images and assaying signals from said processing stations and being disposed within said secure housing, said control processor:

an input output module to said central processor and further coupled, via said telecommunications system, to said central office to obtain exchange rate data for said gold from said central office and outputting said exchange rate data to said central processor;

a calculator module as part of said central processor determining a discounted market value for said gold-bearing item based upon said exchange rate data, said weight signals, said assaying data, and discount factors;

a compiler as part of said central processor, coupled to said display to compile and present instructions regarding acceptance and rejection, and an offer to buy the item at the discounted market value;

said compiler obtaining and storing seller's data from said seller interface modules including seller responsive data from said instructions and including seller images and scanner data for seller's identity and biometric data, said compiler also storing transactional data;

an acceptance module as part of said central processor adapted to initiate a credit for the seller's account based upon a seller's confirmation of sale from said seller interface module;

said conveyor coupled to said acceptance module, delivering the purchased item to said vault upon confirmation of sale;

a rejection module adapted to negate said acceptance module upon either a seller's request from said seller interface modules or a detected error signal; and,

an error module, as part of said central processor, for generating the error signal based upon one or more of: a gold purity fault, a weight fault, a discounted market value fault, and an item size fault;

said compiler storing said error signal with said seller data.

2. A machine for buying gold-bearing items as claimed in claim 1 wherein said input output module includes a transaction module to effect the credit to the seller's account based upon said seller's confirmation and the delivery of the gold-bearing item to the vault via said acceptance module and to monitor seller's data, confirmation, a seller's request to reject the transaction and error signals.

3. A machine for buying gold-bearing items as claimed in claim 2 wherein said compiler presenting a buy-sell contract to said seller and operational instructions for said machine via said display; and wherein

the seller responsive data being stored via said compiler.

4. A machine for buying gold-bearing items as claimed in claim 3 wherein said error module includes:

an estimating module that estimates a volume of said item based upon said images of the item;

a distinguishing module that distinguishes non-metallic elements of said item from gold elements and estimates a differential volume therebetween; and

a volume error module that generates a volume error based upon the differential volume and a predetermined volume threshold, said volume error being an item size fault.

5. A machine for buying gold-bearing items as claimed in claim 3 wherein said error module includes:

an error calculator computing an estimated weight based upon a gold purity value from said assay signals;

a comparison module comparing the estimated weight and the weight signals from said weigh station and generating the gold purity fault when a differential between the estimated weight and the weight signals is beyond a predetermined weight-purity threshold.

6. A machine for buying gold-bearing items as claimed in claim 3 wherein said discount factors include factors related to transaction fees, fraud-related factors and the presence of non-gold elements in said gold-bearing item;

said calculator determining the discounted market value of the item includes:

an estimating module that estimates a volume of said item based upon said images of the item;

a distinguishing module that distinguishes non-metallic elements of said item from gold elements and estimates a differential volume therebetween;

a first discount factor module for changing a discount factor of non-gold elements based upon the differential volume and a predetermined volume threshold;

an error calculator computing an estimated weight based upon a gold purity value from said assay signals;

a comparison module comparing the estimated weight and the weight signals from said weigh station; and

a second discount factor module for changing a discount factor for fraud when a differential between the estimated weight and the weight signals is beyond a predetermined weight-purity threshold.

7. A machine for buying gold-bearing items as claimed in claim 3 wherein said plurality of seller interface modules include a scanner for a seller's government issued identification and a fingerprint scanner, the identification scanner capturing for a seller's identifiable image and the fingerprint scanner capturing finger biometric data, said finger biometric data and seller's identifiable image being said seller's identity and biometric data which is stored via said compiler.

8. A machine for buying gold-bearing items as claimed in claim 3 including a lock-out door operative to close said portal and a door actuator, said door actuator closing said door when said control processor and said complier via said display presents said instructions, and said door actuator opening said door under the control of said rejection module.

9. A machine for buying items containing gold, silver or platinum from consumers, the machine coupled to a central office via a telecommunications system for tracking the purchase of precious metal-bearing items and related transactions by the machine and providing updates relative to the exchange rate market price data for precious metal to the machine, comprising:

a secure housing;

a vault within the housing;

a portal in said housing leading inboard to a processing platform and a plurality of processing stations in the interior of said housing, said processing platform adapted to retain said item as deposited through said portal;

said plurality of processing stations including: a weigh station to weigh said item, an imaging station for capturing images of the item, an assaying station for testing a purity of precious metal in said item, and a conveyor for delivering a purchased item to said vault, said weigh station, imaging station and assaying station respectively generating representative signals for weight, item images and assaying data;

a plurality of seller interface modules on and about an exterior of said housing including a display, an imaging system to capture one or more images of said seller, at least one scanner for obtaining seller's identity or biometric data, a keypad input interface and a bank card reader adapted to read a seller's bank card linked to a seller's account to be credited for the sale of said gold-bearing item;

a control processor electronically obtaining respective weight, item images and assaying signals from said processing stations and being disposed within said secure housing, said control processor;

means for communicating with said central office to obtain exchange rate data for said precious metal from said central office and outputting said exchange rate data to said control processor;

means for determining a discounted market value for said precious metal-bearing item based upon said exchange rate data, said weight signals, a purity based upon said assaying data, and discount factors;

a calculator module as part of said control processor determining a discounted market value for said precious metal-bearing item based upon said exchange rate data, said weigh signal, said assaying data, and discount factor;

a compiler as part of said control processor, coupled to said display to compile and present instructions to the seller regarding acceptance and rejection, and an offer to buy the item at the discounted market value;

said compiler obtaining and storing seller's data from said seller interface modules including seller responsive data from said instructions and including, seller images and scanner data for seller's identity and biometric data, said compiler also storing transactional data;

said compiler via said display presenting information related to the purchase of the item and government-related inquiries regarding the transaction to said seller, and said compiler thereafter capturing seller responsive government-related inquiry data in said compiler;

an acceptance module as part of said control processor adapted to initiate a credit for the seller's account based upon a seller's confirmation of sale from said seller interface modules; and said conveyor, coupled to said acceptance module, delivering the purchased item to said vault upon confirmation of sale;

a rejection module adapted to negate said acceptance module upon either a seller's request or a detected error signal; and,

an error module for generating the error signal based upon one or more of: a precious metal purity fault, a weight fault, a discounted market value fault, and an item size fault; and

said compiler storing said error signal with said seller data.

10. A machine for buying items as claimed in claim 9 wherein said means for communicating with said central office includes a transaction module to effect the credit to the seller's account based upon said seller's confirmation and the delivery of the item to the vault via said acceptance module and to monitor seller's data, confirmation, a seller's request to reject the transaction and error signals; and

wherein said complier presenting a buy-sell contract to said seller and operational instructions for said machine via said display; and wherein

the seller responsive data being stored via said compiler;

the machine including a lock-out door operative to close said portal and a door actuator, said door actuator closing said door when said control processor and said complier via said display presents said instructions, and said door actuator opening said door under the control of said rejection module.

11. A machine for buying items as claimed in claim 10 wherein said discount factors include factors related to transaction fees, fraud-related factors and the presence of non-precious metal elements in said item;

said calculator determining the discounted market value of the item includes;

an estimating module that estimates a volume of said item based upon said images of the item;

a distinguishing module that distinguishes non-metallic elements of said item from precious metal elements and estimates a differential volume therebetween;

a first discount factor module for changing a discount factor of non-precious metal elements based upon the differential volume and a predetermined volume threshold;

an error calculator computing an estimated weight based upon a precious metal purity value from said assay signals;

a comparison module comparing the estimated weight and the weight signals from said weigh station; and

a second discount factor module for changing a discount factor for fraud when a differential between the estimated weight and the weight signals is beyond a predetermined weight-purity threshold.

12. A method for buying gold-bearing items from consumers comprising:

providing a secure housing, a vault disposed in the housing, said housing having a portal adapted to be closed, said portal leading inboard to a plurality of processing stations in the interior of said housing;

providing an assaying tool in said housing;

in said secure housing while said portal is closed: weighing said gold-bearing item, capturing images of the item, and testing a purity of gold with said assaying tool;

at an exterior location near said housing: capturing one or more images of said seller, scanning and obtaining seller's identity or biometric data and obtaining a seller's bank card data, which bank card is linked to a seller's account to be credited for the sale of said gold-bearing item;

obtaining updates relative to an exchange rate market price data for gold;

electronically obtaining the weight and assay data about said item;

with a computer processing system:

determining a discounted market value for said gold-bearing item based upon said exchange rate data, weight of the item, a purity based upon said assaying data, and discount factors;

electronically presenting instructions regarding acceptance and rejection to a seller of said item, and presenting an offer to buy the item at the determined market value;

electronically presenting information related to the purchase of the item and government-related inquires regarding the transaction to said seller;

storing images of said seller, said seller's identity and biometric data and bank card data, the seller's responses to the government-related inquiries and also storing transactional data, all as seller data;

obtaining a confirmation or sale from said seller and thereafter effecting the deposit of the item into said vault;

obtaining a rejection from said seller and thereafter effecting the return of the item to the seller; and

negating any acceptance of the item due to an error based upon one or more of: a gold purity fault, a weight fault, a discounted market value fault, and an item size fault; and

storing an indication of an error with said seller data.

13. A method for buying gold-bearing items as claimed in claim 12 including opening the portal while returning the item to the seller.

14. A method for buying gold-bearing items as claimed in claim 13 including rejecting the item and returning the time to the seller if: the item weighs too much, or if the volume of the item is either too large or too small, or if the non-metallic elements of the item compared to the gold-bearing elements of the item are too large, or if a gold purity fault is determined based upon a differential between an estimated gold purity weight and the item's weight exceeds a threshold wherein the estimated gold purity weight is based upon an estimated volume of the item calculated by the volume of item as per the item's images.

15. A method for buying gold-bearing items as claimed in claim 14 including discounting the market value of the gold-bearing item due to fraud and transaction fees.

16. A method for buying gold-bearing items as claimed in claim 14 initiating a credit payment to said seller's account upon confirmation of said sale of said item.

17. A method for buying items a precious metal-bearing item containing gold, silver or platinum items from consumers a seller comprising:

providing a secure housing, a vault disposed in the housing, said housing having a portal adapted to be closed, said portal leading inboard to a plurality of processing stations in the interior of said housing;

providing an assaying tool for precious metal in said housing;

in said secure housing while said portal is closed: weighing said precious metal-bearing item, capturing images an image of the item, and testing a purity of precious metal with said assaying tool to obtain assay data;

at an exterior location near said housing: capturing one or more images of said seller, scanning and obtaining seller's identity data or seller's biometric data, and obtaining a seller's bank card data, which bank card is linked to a seller's account to be credited for the sale of said precious metal-bearing item;

obtaining updates relative to an exchange rate market price data for precious metal;

electronically obtaining the weight data and assay data about for said item;

with a computer processing system:

determining a discounted market value for said precious metal-bearing item based upon said exchange rate data, weight of the item data, a purity based upon said assaying assay data, and a discount factors factor;

electronically presenting instructions regarding acceptance and rejection to a the seller of said item, and presenting an offer to buy the item at the determined discounted market value;

electronically presenting information related to the purchase of offer to buy the item and government-related inquires regarding the transaction offer to buy to said seller;

storing said one or more images of said seller, said seller's identity and data or biometric data, and the bank card data,;

the obtaining and storing seller's responses to the government-related inquiries and also storing transactional data;

obtaining a confirmation of sale from said seller and thereafter effecting the a deposit of the item into said vault,;

alternative to the confirmation, obtaining a rejection from said seller and thereafter effecting the a return of the itemto item to the seller; and

negating any acceptance of the item the confirmation of sale due to an error based upon one or more of a precious metal purity fault, a weight fault, a discounted market value fault, and an item size fault; and

storing an indication of an the error with said seller data.

18. A method for buying items as claimed in claim 17 including opening the portal while returning the item to the seller.

19. A method for buying items as claimed in claim 18 including rejecting the item and returning the time to the seller if: the item weighs too much, or if the volume of the item is either too large or too small, or if the non-metallic elements of the item compared to the precious metal-bearing elements of the item are too large, or if a precious metal purity fault is determined based upon a differential between an estimated gold purity weight and the item's weight exceeds a threshold wherein the estimated precious metal purity weight is based upon an estimated volume of the item calculated by the volume of item as per the item's images.

20. A method for buying items as claimed in claim 19 including discounting the market value of the precious metal-bearing item due to fraud and transaction fees.