St.Louis Park Gold & Silver FAQ's

Do you have questions about rare coins, silver or gold? Here we will try and answer some of our most frequently asked questions. SLP Gold & Silver is a top rated gold and silver shop in St. Louis Park, MN. If you can't find your answers here, feel free to contact us at any time!

Why Buy Gold & Silver?

Precious metals are a hedge against inflation. As fiat currency weakens the price of gold and silver go up. Purchasing precious metal is a way to safeguard your wealth against economic instability.

What do you buy and How Does It work To Buy From You?

We buy just about any kind of precious metal- bullion, Jewelry, Silverware, Antiques, Coins, Currency, watches, collectibles- you name it. No appointment necessary, feel free to stop by with your merchandise and show it to us. If selling any kind of jewelry you will need an ID. You must be over the age of 18.

Do You Ship Out Of State?

We can ship anywhere in the world.

What Is Pawn Man?

Pawn Man is the owner, Evan’s, nickname on social media. SLP gold and silver is not a pawn shop. However, when Evan began making social media content that went viral, people started calling him Pawn Man and he ran with it.

What will you Not Buy?

We do not buy modern guns (1898-present), art, sports memorabilia, glass China, large glassware, or industrial precious metal such as computer parts. We do buy gold teeth.

Do you pay cash?


can you secure a large order of say $250,000 in gold?

Yes. We handle orders of any size.

General Questions On Gold & Silver


Question:  How is gold formed?
Gold is believed to be formed in the inside of burning stars. It congregates into gold deposits which are then mined and turned into jewelry using different methods

Question: Which gold is the best?
 24 Karat gold is the best gold to buy because it is 100% pure. The next best thing when it comes to gold is 18K gold which is 75% pure.

Question: Why is gold a good investment?
Gold is a good investment because over time, gold holds its value intrinsically, it can be liquidated very easily, and can be passed down easily.  We should buy gold now because so much money was printed in 2021, meaning your dollar value will decrease. Buying gold can be an easy and effective investment to beat inflation.

Question: Can Gold Rust? 
Gold in its pure form can’t rust. Gold jewelry that is 14 karats or above usually won't show signs of rusting, while jewelry that is below 14 karats are more prone to rusting.

Question: Are gold prices high right now?
Based on historical charts, gold prices are the highest they’ve ever been. Although gold prices are relatively high, the all-time high gold reached is $2,067.15 per ounce in august of 2020.


Question:  Will silver go up in value?
Silver has increased by about 17% the past 20 years. It's a great lower cost investment.

Question: Which silver is the best?
Depending on what “best” means to you, pure silver holds its value and doesn’t tarnish but isn’t very durable. If you’re looking for silver jewelry, you're going to want to invest in sterling silver which is much more durable and long lasting. Although sterling silver is the best when it comes to durability, it too needs to be properly cared for or it will tarnish.

Question: WIll silver plated jewelry tarnish?
Silver plated jewelry will tarnish over time but is much more resistant to tarnishing than sterling silver.

Question: Is silver magnetic?
When silver is in its pure form, it is not magnetic. Although, If you add different magnetic metals to them they will be partly magnetic.

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