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