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

[Peter2047]

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]

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

 

[skc]

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]

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