This doesn't antedate, but the use, reinforced by 'sugar papa', is irrefutably slang: I haven't encountered 'bracelet buyer' in this context elsewhere. 1924 O.O. McIntyre ‘New York Day by Day’ [syndicated col.] 10 Dec. They are the boys below the scale of the heavy sugar papas and butter and egg men and are designated bracelet buyers. Jonathon Green