ST. LOUIS COUNTY, Mo. – Charlie Erthal is a numismatist, sales associate, and bullion trader with Scotsman Coin & Jewelry in Creve Coeur.  Gold prices have been a hot topic lately.

“If one person comes in to buy, the next person might be coming in to sell,” Erthal said.

That’s because gold prices have hit record levels this month, steadily climbing over the past year.  Economic uncertainty is one factor. 

Some gold buyers purchase precious metals as a hedge against inflation. 

Recently, gold prices have hovered above $3,000 ounce.  Approximately a year ago, the value was closer to $2,000.  Approximately a year ago, the value was closer to $2,000.

“People are talking about one troy ounce of pure gold,” Erthal said. “That’s 31.1 grams of unadulterated pure gold.”

He said that’s not typically the type of gold you will find in jewelry.

“When you’re bringing your necklace in, you might have 14-karat gold.  That’s only about half pure,” Erthal said.

Still, he said some customers are pleasantly surprised when they discover how much their old jewelry is worth.

“Your average wedding band is probably anywhere from $150 to $200.  Necklaces can be up to $400 or $500 but I’d say the average person lying around the house might have anywhere from $200 to $1200 worth of scrap gold just in their drawer.”