: 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 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
: Buying from established refineries like Johnson Matthey or Handy & Harmon ensures the gold's purity is certified. : Some jewelers buy bulk scrap from local
: Jewelers typically buy "scrap" (broken or unwanted jewelry) at a percentage below the current market "spot" price. : Buying from established refineries like Johnson Matthey
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.