Where Do Jewelers Buy Gold ◉

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

: Some jewelers use Bullion Exchanges which store tens of millions in gold in high-security vaults. 2. Scrap Gold from the Public where do jewelers buy gold

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

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