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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
Most manufacturing jewelers buy gold directly from or 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 Jewelers source their gold through a mix of
: Jewelers typically buy "scrap" (broken or unwanted jewelry) at a percentage below the current market "spot" price. where do jewelers buy gold
Many independent and "mom-and-pop" shops obtain a significant portion of their gold by buying it directly from customers.