Gold buyers are individuals or companies who buy gold from people and then resell it to gold dealers, refiners, or jewelers. They may also operate gold mines or other gold businesses. Gold buyers typically pay more for gold than the spot price, but less than the gold's full retail price. sierrajewelryinc.com Gold buyers typically buy gold from two sources: jewelry and scrap gold. Jewelry is gold that is made into rings, necklaces, bracelets, and other wearable items. Scrap gold is gold that is no longer needed or wanted, such as old gold coins, gold jewelry that is damaged, or gold that is being sold for its metal value rather than its design or sentimental value. diamonds & gold inc Gold buyers typically sell gold to gold dealers, refiners, or jewelers. Gold dealers buy and sell gold bullion, coins, and bars. They also trade gold futures and options. Refiners melt down gold and purify it. They then sell the gold to jewelers, who use it to make gold jewelry. 2. How to become a gold buyer Gold buying has become increasingly popular in recent years, as investors look for ways to diversify their portfolios and protect themselves from inflation. If you're thinking of becoming a gold buyer, there are a few things you should know. First, you'll need to find a reputable dealer. There are many gold dealers out there, but not all of them are created equal. Make sure you do your research and only buy from a dealer that has a good reputation. Next, you'll need to decide what type of gold you want to buy. There are two main types of gold: bullion and coins. Bullion is gold that is in the form of bars or ingots, while coins are gold that is minted into coins. Each has its own advantages and disadvantages, so it's important to figure out which is right for you. Finally, you need to be aware of the risks involved in gold buying. Gold is a volatile investment, and its price can fluctuate wildly. Before you invest, make sure you understand the risks and are comfortable with them. If you're ready to take the plunge and become a gold buyer, follow these steps and you'll be on your way to a diversified and inflation-protected portfolio.