: Some jewelers use Bullion Exchanges which store tens of millions in gold in high-security vaults. 2. Scrap Gold from the Public
: Some jewelers buy bulk scrap from local pawn shops that lack the facilities to refine the metal themselves. 3. Wholesale and "Memo" Inventory
: Buying from established refineries like Johnson Matthey or Handy & Harmon ensures the gold's purity is certified. 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
: Jewelers typically buy "scrap" (broken or unwanted jewelry) at a percentage below the current market "spot" price. : Some jewelers use Bullion Exchanges which store
: 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.
Most manufacturing jewelers buy gold directly from or specialized distributors. The process generally follows three main channels: 1
: 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.