A method and apparatus for the metallurgical qualitative analysis (assay) and valuation of precious metals objects such as jewelry or coins. The system integrates a commercially available x-ray florescence (XRF) metals analyzer with associated peripheral devices including a personal computer and keyboard or touchpad computing device, a digitizing scale, a printer, an Internet link for obtaining current precious metals market price quotations, and software for processing the qualitative results with the current market price data and presenting the results to the system operator in real time. The system optionally includes a customer interface including a display screen for presenting the customer with the results of the analysis and valuation, and customer input means for accepting and recording a purchase transaction.