Most manufacturing jewelers buy gold directly from or specialized distributors.
: 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. 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 Most manufacturing jewelers buy gold directly from or
: Some jewelers use Bullion Exchanges which store tens of millions in gold in high-security vaults. 2. Scrap Gold from the Public Scrap Gold from the Public Jewelers source their
Jewelers source their gold through a mix of high-volume industrial suppliers and local, "over-the-counter" acquisitions. The process generally follows three main channels: 1. Refineries and Specialized Distributors
: Buying from established refineries like Johnson Matthey or Handy & Harmon ensures the gold's purity is certified.
: Jewelers typically buy "scrap" (broken or unwanted jewelry) at a percentage below the current market "spot" price.