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

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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

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

skc

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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

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

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