Let’s start by defining the term ‘gold bullion’, which is gold that has been melted down into a bar form, which would be stamped and hallmarked. This is the typical way to store gold and when a jeweller wishes to create gold jewellery, they will acquire the base gold in a suitable-sized ingot. Once the gold has been acquired, the goldsmith (or jeweller) prepares a special cast to form the base parts of the jewellery piece. So, the short answer is yes. Master jewellers acquire gold in ingot form when planning to create gold jewellery.
A goldsmith can add alloys to pure gold, or the jeweller can order 18k gold in ingot form if they prefer. Gold bullion is 24k (99.99%) by default, which is not always suitable for jewelry, due to its malleability.
Amateur Jewellery Making
Some people wish to learn how to make jewelry, more as a hobby than a business, and if they have all the equipment, they can buy a 20g gold ingot and turn that into a necklace or bracelet. Some countries prohibit the melting down of gold bullion, coins, and bars to be turned into jewelry, so it is always essential to check first. If there are no such restrictions in your country and the gold is 24k, it can always be melted down into an ingot. The piece would never be more valuable than the weight of the gold unless there are precious stones incorporated into the design.
Buying Gold Bullion
If you want gold to make jewelry, it’s best to approach a reputable gold bullion dealer. They have a range of ingots and bars from 5g to 1kg, and you can take physical possession and get to work creating the jewellery. Of course, a percentage of gold bullion ends up as jewelry, which fluctuates according to supply and demand.
Foremost goldsmiths procure the gold bullion, which is then sold on to master jewelers, who may or may not reduce the purity to 18k or even 9k. This is the usual protocol, while the goldsmith also buys smelted-down scrap jewelry in bar form, which the jeweler has created.
Range Of Services
Gold bullion dealers offer a range of services, such as:
- Buying and selling of gold bullion
- Buying and selling of gold coins
- Gold EFTs
- Other precious metals
- Purchase scrap gold in jewelry form.
Gold bullion dealers offer essential services to investors, and if you plan to include gold in your investment portfolio, choose between gold bullion and coins. Unlike rare coins, coins such as the American Eagle are valued by the gold’s weight and purity; they are globally recognized and can easily be liquidated.
Selling Scrap Gold Jewellery
Should you possess a collection of unworn gold jewelry and aspire to secure an advantageous selling price, it is advisable to engage with a reputable gold bullion dealer for their expertise and services. City Gold Bullion is buying gold in Brisbane. For those outside Australia, a quick online search should help you find a reputable dealer who is always happy to acquire base gold that will be smelted back into ingots and reused. As expected, very little of this valuable metal is lost, and recycling is a significant part of the gold jewelry industry. However, as previously stated, it’s important first to find out whether the country you are in allows gold bullion, bars, and coins to be melted.
To conclude, master jewelers buy gold in ingot form from established goldsmiths and sell scrap gold to the same companies.
Now is a good time to invest in gold, as the analysts predict a run-on gold for the second half of 2023, and if you would like to contact an established gold bullion dealer, use Google.