NAICS Code 458310-09 - Gold Silver & Platinum-Dealers (Retail)

Marketing Level - NAICS 8-Digit

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NAICS Code 458310-09 Description (8-Digit)

Gold Silver & Platinum-Dealers (Retail) are businesses that specialize in the sale of precious metals such as gold, silver, and platinum to individual customers. These dealers may also purchase precious metals from customers who wish to sell their items. The primary focus of these retailers is to provide customers with a range of high-quality precious metal products, including coins, bullion, and jewelry. Gold Silver & Platinum-Dealers (Retail) may also offer appraisal services to customers who wish to determine the value of their precious metal items.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 458310 page

Tools

Tools commonly used in the Gold Silver & Platinum-Dealers (Retail) industry for day-to-day tasks and operations.

  • Gold testing kit
  • Digital scale
  • Loupe
  • Acid testing kit
  • Diamond tester
  • Ultrasonic cleaner
  • Jewelry polishing cloth
  • Jeweler's saw
  • Pliers
  • Wire cutters
  • Torch
  • Crucible
  • Tongs
  • Borax
  • Graphite mold
  • Rolling mill
  • Metal file
  • Metal stamping kit
  • Jewelry making kit

Industry Examples of Gold Silver & Platinum-Dealers (Retail)

Common products and services typical of NAICS Code 458310-09, illustrating the main business activities and contributions to the market.

  • Gold coins
  • Silver bullion
  • Platinum jewelry
  • Gold bars
  • Silver coins
  • Platinum bullion
  • Gold jewelry
  • Silver bars
  • Platinum coins
  • Gold nuggets

History

A concise historical narrative of NAICS Code 458310-09 covering global milestones and recent developments within the United States.

  • The history of the Gold Silver & Platinum-Dealers (Retail) industry dates back to ancient times when gold, silver, and platinum were used as currency and for jewelry making. The first gold coins were minted in Lydia, a kingdom in Asia Minor, around 600 BC. In the 16th century, the discovery of silver in the Americas led to the establishment of silver mines in Mexico and Peru, which increased the supply of silver and made it more affordable. Platinum was discovered in South America in the 18th century, and it became popular in the jewelry industry in the 19th century. In recent history, the industry has been impacted by economic downturns, fluctuations in metal prices, and changes in consumer preferences. For example, during the Great Recession of 2008-2009, the demand for gold and silver jewelry declined as consumers cut back on discretionary spending. However, the industry has also benefited from technological advancements, such as online sales platforms and mobile payment systems, which have made it easier for consumers to purchase jewelry.