MDP Guarantee: Gold Buying

Want to get the best deal around for your gold? At Monte de Piedad®, we buy gold at competitive prices that can’t be beat. Thanks to our MDP Guarantee, all you need to do is simply visit a Monte de Piedad® store and present a formal purchase offer from the competition. We will not only match qualifying offers, but we will pay you up to 10% more for your gold, which can be up to 90% of the value based on the spot gold price per gram at that time. For example, if you present a qualifying purchase offer for $1000.00 representing 85% of the spot value of the gold that day, we will purchase your gold for $1058.88. Now, that’s smart money!

For an offer to qualify, the offer must be from a retail pawn competitor or precious metal dealer with a retail location within 30 miles of the MDP location in which offer is being presented. The offer must be on their official letterhead or buy sheet and dated the same business day with the exact date and time of the offer. The offer must be based solely on the weight and purity of the gold content within the item being sold. Offers are not valid where the competitor’s offer price is based on the value of any diamond or gemstone imbedded within the item being sold or if the offer includes a store credit as a component of the offer. Similarly, gold coins, gold ingots, watches and diamonds do not qualify.

Please note the MDP Guarantee is not available for any offer made by online or wholesale dealers, refiners, smelters or pawn brokers. The MDP Guarantee is limited to a maximum of 10 transactions per household per calendar year. A guest must accept or decline the MDP Guarantee at the time of presenting the offer to Monte de Piedad®. Monte de Piedad® reserves the right to terminate the MDP Guarantee and/or modify the policy terms and conditions at any time in its sole discretion. Void where prohibited by law.

MDP Guarantee: Jewelry Purchase Policy

If you are not fully satisfied with your jewelry purchase, just return the item in its original condition with your receipt within 30 days of purchase to receive store credit or an exchange of equal value. Any item up for return will be thoroughly assessed by store personnel, who will determine if said item adequately meets this criteria. Please note day 1 begins on the date of purchase.

Lay-Away Policy

Monte de Piedad® offers a ten month MDP Lay-Away Program. A ten percent (10%) minimum deposit is all that is required to secure the item you would like to place on Lay-Away at any one of our stores. To claim your item, you must pay the remaining balance off in nine equal monthly installments. You can always pay more than the minimum at any time, however, no one but you may act in your place. Monte de Piedad® accepts payments made with cash, debit or credit card. Monte de Piedad® does not accept checks for any Lay-Away deposit or installment payment required under the Lay-Away Agreement.

Due Dates for Lay-Away Payments

Each minimum installment payment is due on the same day each month beginning the month after the initial deposit. A ten (10) day grace period is provided for each installment. If you make the required payment within the ten day grace period as measured from the installment due date, your Lay-Away agreement remains in good standing.

Location, Availability and Identification of Lay-Away Merchandise

Once you have made the required initial deposit under your particular Lay-Away Agreement, Monte De Piedad® will remove the item(s) identified in your agreement from display, making them unavailable to other customers until the expiration or default of your Lay-Away Agreement.

Lay-Away Defaults

If any monthly installment payment required under your Lay-Away Agreement is not received by Monte de Piedad® on or before the tenth day after the installment due date, the item(s) will be returned to general inventory and will be made available for purchase by the public. The defaulting Lay-Away Agreement will be automatically cancelled and any related deposit and payments will be forfeited.

Lay-Away Cancellations

If you wish to cancel your Lay-Away Agreement within the first 30 days after the initial lay-away deposit and origination date, a re-stocking fee of 10% of the total price will be charged. Any remaining deposit/payments in excess of the re-stocking fee will be issued as store credits and restricted as hereinafter provided. However, you may not cancel your Lay-Away Agreement after 30 days have elapsed since the initial lay-away origination and deposit date.

Store Credits and Restrictions

In the case of a cancellation within the first 30 days of the Lay-Away origination date, any payment and deposit monies in excess of the re-stocking fee will be issued in store credits as stated above. Store credits are not transferable between customers and may be used only for new purchases. No store credits may be used to pay down any pawn contract, nor may any store credits be combined with any store points or used in combination with any promotional event offered by Monte de Piedad. No store credit may be used or otherwise transferred to another Lay-Away Agreement.