Okay, I was just checking it it out. And it looks like if you purchase and item at Granny’s then turn around and melt it down into Pearls (with 4 melting slots unlocked!) You get 20 to 1 Pearls to Pearls.
Gold to Gold is 10 to 1, and I’ve never complained about that! But 20 to 1 is cheating the gamer. Particularly when you have to pay gold to even melt them down!