CHARLOTTE, N.C. -- If you’ve sold some of your gold jewelry to a local buyer, have you ever wondered what happens that all that gold?
Phillip Duncan owns Piedmont Gold Exchange and Refinery, here in the Charlotte area. One of his specialties is taking that jewelry and turning it into gold bars.
This morning on Larry’s Look, Duncan gave us a tour of the business and went through the entire process….from those old gold rings, bracelets, and other jewelry to an ounce of pure gold -- worth over $1650!
He actually demonstrated that amazing transformation -- from the jewelry to a liquid, to a powder, back to a liquid during the melting process -- and finally that beautiful piece of gold.
It may look like a very small blob, but it’s a very valuable piece of metal!
They also do a lot of silver. A four ounce bar is worth over $120.