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

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

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

• Gemological Institute Of America (GIA) Certification: GIA provides a range of certifications for diamonds, colored stones, pearls, and jewelry design. These certifications are recognized worldwide and are highly respected in the industry. The GIA certification ensures that the jewelry is of high quality and meets the industry standards.
• Jewelers Of America (JA) Certification: JA provides a range of certifications for jewelry professionals, including Certified Bench Jeweler Technician, Certified Sales Professional, and Certified Management Professional. These certifications ensure that the jewelry professionals have the necessary skills and knowledge to provide high-quality services to customers.
• Responsible Jewellery Council (RJC) Certification: RJC provides a certification program that ensures that the jewelry industry operates in an ethical, social, and environmental responsible manner. The certification covers the entire supply chain, from mining to retail.
• Precious Metal Dealer License: A precious metal dealer license is required in some states to buy and sell precious metals, including gold, silver, and platinum. The license ensures that the dealer operates in a legal and ethical manner and complies with the state regulations.
• Federal Trade Commission (FTC) Jewelry Guides Compliance: The FTC Jewelry Guides provide guidelines for the jewelry industry to ensure that the jewelry is accurately described and marketed. Compliance with the FTC Jewelry Guides is required by law and ensures that the jewelry is of high quality and meets the industry standards.

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.

The anticipated future trajectory of the NAICS 458310-09 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

• Growth Prediction: Stable

  The future outlook for the Gold Silver & Platinum-Dealers (Retail) industry in the USA is positive. The industry is expected to grow in the coming years due to the increasing demand for luxury goods and the rising disposable income of consumers. The industry is also expected to benefit from the growing popularity of online shopping, which has made it easier for consumers to purchase jewelry and other luxury goods. However, the industry may face challenges from the increasing competition from other retailers and the rising prices of precious metals. Overall, the industry is expected to continue to grow in the coming years, driven by the increasing demand for luxury goods and the growing popularity of online shopping.

Recent groundbreaking advancements and milestones in the Gold Silver & Platinum-Dealers (Retail) industry, reflecting notable innovations that have reshaped its landscape.

• Online Sales Platforms: Many Gold Silver & Platinum-Dealers (Retail) have started to sell their products online, which has made it easier for consumers to purchase jewelry and other luxury goods from the comfort of their homes.
• Customization Options: Some retailers are offering customization options to their customers, allowing them to create unique pieces of jewelry that are tailored to their individual tastes and preferences.
• Sustainable and Ethical Sourcing: Many retailers are now sourcing their materials from sustainable and ethical sources, which has become increasingly important to consumers who are concerned about the environmental and social impact of their purchases.
• Augmented Reality Technology: Some retailers are using augmented reality technology to allow customers to try on jewelry virtually before making a purchase, which has helped to increase sales and reduce returns.
• Social Media Marketing: Many retailers are using social media platforms to market their products and engage with customers, which has helped to increase brand awareness and drive sales.