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. 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 Jewelers source their gold through a mix of
: 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. : Some jewelers buy bulk scrap from local
Most manufacturing jewelers buy gold directly from or specialized distributors.
: Some jewelers use Bullion Exchanges which store tens of millions in gold in high-security vaults. 2. Scrap Gold from the Public
: Jewelers typically buy "scrap" (broken or unwanted jewelry) at a percentage below the current market "spot" price.