# Why do local gold dealers pay more for old gold jewellery?



## Peter2047 (23 March 2012)

Hi All,

I am puzzle why the neighbourhood gold shops are paying $1882/oz when the gold spot price is $1650. Any gold expert here can give some hint on this.


----------



## Julia (23 March 2012)

Why will antique dealers pay more for anything, gold included, because of its antiquity?
Because it's rare and sought after.


----------



## skc (24 March 2012)

Peter2047 said:


> Hi All,
> 
> I am puzzle why the neighbourhood gold shops are paying $1882/oz when the gold spot price is $1650. Any gold expert here can give some hint on this.




May be check your calculations again?

What are they paying per gram (that's how these normally work)?


----------



## prawn_86 (24 March 2012)

Is it that they are paying in AUD and gold is priced in USD?


----------

