Meridian Industrial

GOLD TRADER & THE DIAMOND SHOP

2021-12-29 | KEITH O'CONNOR

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You might just “strike gold” on a visit to The Gold Trader and Diamond Shop in Springfield.

Founded in 2010, Gold Trader opened to the public buying gold, silver, diamonds, silverplate, jewelry, coins and collectibles.

“After we opened, we began hearing from customers how much they had paid for jewelry that they had purchased at other locations. We felt expanding to retail could bring value to a marketplace where people were paying high prices,” said David Rosen of Gold Trader, Inc.

So, in 2014 the store expanded into a full-scale hybrid, continuing to buy from the public, but now serving customers as a full-service jewelry store with a large selection of new and estate gold, silver and diamond jewelry - diamond engagement rings, gold chains, earrings, bracelets, fashion rings, their own line of Collinsville Watches and more. They have a full-time GIA-trained gemologist and Diamond District affiliation meaning customers get direct to New York diamond prices.

“We have a very nice selection of diamonds in our cases, but you can only have so many on display. You can mix and match. You might like the setting on one ring and just the diamond on another. Decisions, decisions, decisions. Whether shopping for a diamond engagement ring or other diamond inlayed jewelry, we’re here to help and guide customers through the process and answer all their questions. For some it’s about wanting the highest clarity and color. But we believe the most important factor in selecting a diamond is to ask yourself ‘Is it pretty? Does it sparkle? Do you love it?’ Color and clarity can be second to what pleases the eye,” Rosen said.

The store’s team pride themselves on a wide selection and great value.

“We feel that if customers want to see something, they should be able to see it in your store without having to wait for you to order it. And, our mission from day one has been to offer value pricing. We like to say to customers that “there is almost nothing here that you couldn’t buy for more elsewhere,” Rosen said.

“You can find our philosophy stated right on our website: ‘We’d rather have 10 people walk in and get a phenomenal deal, than have one person come in and pay a ridiculous price. We’d much rather build a relationship than just make a sale,’” he added.

For those who want to choose their jewelry now and pay later, there is interest free layaway, or you can walk out of the store with your purchase paying for it interest free over 12 months if approved for credit by Synchrony Bank.

Rosen noted they have three types of customers - the division between them which ebbs and flows at any particular time - who enter the store to sell their prized possessions.

“There are those who sell things because they are in need, others sell just because it’s time to, and still others come in to take advantage of the price of gold which may have spiked at the time,” Rosen said.

Rosen noted that there is a number of reasons why people come to Gold Trader to sell their items.

“Some people have a specific need they are addressing. Others are ‘spring cleaning’ or watching the market, and some are taking jewelry they don’t wear and trading it in for something they will wear,” Rosen said.

“Life happens. We had one customer recently who had invested in gold coins, but was then faced with healthcare expenses that were not planned for. Then there is what I refer to as ‘dormant wealth’ which can be recycled - items that are broken or not enjoyed any longer that may be sitting around in a jewelry box or sterling silver flatware that no one wants to polish and that the younger generation doesn’t seem to want. If the opportunity presents itself, why not sell and do something meaningful with the proceeds such as investing or pampering yourself with a vacation to remember,” he added.

Despite COVID-19, business is good, noted Rosen.

“We have actually seen increased activity on the retail side. People want to feel good during these trying times, and jewelry puts a smile on their faces and makes them feel good after being trapped in their houses during the pandemic,” Rosen said.

“Unlike clothing or flowers, jewelry has intrinsic value that lasts. Gold will always be gold,” he added.

Over the years, as their website states when it comes to collectibles: “We’ve seen it all.”

They have purchased Hummel figurines, Limoges, dolls, swords, mantel clocks, sports and Hollywood memorabilia.

“We try to be a one-stop store for all your trading,” Rosen said.

Other services provided by the team of professionals at Gold Trader and The Diamond Shop include jewelry repair and design, $6 watch batteries which includes their installation, and estate liquidation.

No story about Gold Trader and The Diamond Shop is complete without mention of their icon Prospector. The hatted, booted, bearded, kerchief wearing Prospector has been brought to life in television commercials and is so popular that he is sought after to appear at community and charity events and parades.

“People know him from our earliest commercials where he could be seen jumping up and clicking his heels together. We feel a prospector is universally recognized as someone who knows where to find a great deal and he’s really been a great brand-builder,” Rosen said.

Gold Trader and The Diamond Shop is located at 1360 Allen St. in Springfield. Store hours are Monday through Friday from 10 a.m. to 5 p.m., and Saturday from 10 a.m. to 4 p.m.

For more information,
visit thegoldtraderstore.com
or call 413-304-2335

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