Where Do Jewelers Buy Gold Link

: Jewelers typically buy "scrap" (broken or unwanted jewelry) at a percentage below the current market "spot" price.

Many independent and "mom-and-pop" shops obtain a significant portion of their gold by buying it directly from customers.

Most manufacturing jewelers buy gold directly from or specialized distributors. where do jewelers buy gold

: A jeweler may melt this scrap gold down in-house to create new pieces, or they may aggregate it and sell it to a refiner to be turned back into pure 24K gold or new casting grain.

: Some jewelers use Bullion Exchanges which store tens of millions in gold in high-security vaults. 2. Scrap Gold from the Public : Jewelers typically buy "scrap" (broken or unwanted

: Instead of large bars, jewelers often buy "casting grain"—tiny, rice-sized pellets of gold. These are pre-alloyed into specific purities like 10K, 14K, or 18K, making them easy to melt down for custom molds.

: Some jewelers buy bulk scrap from local pawn shops that lack the facilities to refine the metal themselves. 3. Wholesale and "Memo" Inventory : A jeweler may melt this scrap gold

: Buying from established refineries like Johnson Matthey or Handy & Harmon ensures the gold's purity is certified.