Where Do Jewelers Buy Gold May 2026
: Jewelers typically buy "scrap" (broken or unwanted jewelry) at a percentage below the current market "spot" price.
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 where do jewelers buy gold
: 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.
Many independent and "mom-and-pop" shops obtain a significant portion of their gold by buying it directly from customers. : Jewelers typically buy "scrap" (broken or unwanted
: Some jewelers buy bulk scrap from local pawn shops that lack the facilities to refine the metal themselves. 3. Wholesale and "Memo" Inventory
: 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
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
Lanae Rivers-Woods, MAIT
Lanae Rivers-Woods moved to Korea in 2011 where she lives in the countryside with her family, friends, and puppies. She holds a BSSW (Bachelor's of Science in Social Work), a MAIT (Master's of Arts in International Teaching), and registered by the Pyeongtaek Korean Times with the Korean government as a Cultural Expert. Ms. Rivers-Woods used her 15 years experience as a social architect, UX/UI designer, and technology consultant to found South of Seoul in 2015. South of Seoul is a volunteer organization that leverages technological tools to mitigate cultural dissonance in multi-cultural communities. Through South of Seoul, Ms. Rivers-Woods works with independent volunteers, non-profit organizations, businesses, local & federal government, universities, and US military organizations to develop solutions to support English speaking international residents in rural South Korea. Additionally, Ms. Rivers-Woods founded the South of Seoul smart phone app available for Google Play and iPhone. The app provides information a resources for those living and traveling in South Korea. When she isn't in South of Seoul development meetings or working her day job, Ms. Rivers-Woods loves to be outside at skate parks, the beach, or playing in the mountains.
