Rob Trompeter of Borderland Jewelry knows gold.
Trompeter started collecting coins at 5 years old, 55 years ago. In high school, he started buying and selling coins on the retail level.
“The price of gold has shot up so much there is a renewed interest in the public,” Trompeter said. He said there has been interest in both buying and selling gold in its various forms.
The price of gold was $1,333.30 per ounce on Tuesday according to www.goldprice.org. On Sept. 10, 2001, gold was $274 per ounce.
Gold spiked over $700 per ounce in the early 1980s, dipped back down and started making a return in the late 2000s. Prices in excess of $1,300 per ounce are marking all-time highs.
“It’s been a huge part of our business,” Trompeter said of gold.
One thing that is unique about his business, he said, is that he evaluates each piece individually. This includes gold jewelry and coins, as well as pieces made from other metals such as silver.
Trompeter usually buys U.S. silver dollars for $15-$20 each. However, due to the grade of a particular silver dollar someone wanted to sell recently, he purchased it for $300.
“You should see the look on somebody’s face when you tell them they’re going to get $10 for a nickel, $50 for a dime. They’re stunned,” he said.
But Trompeter can tell the minute differences in coins that sometimes make them more valuable.
“I just love it from the numismatics end of it, that’s the coin collecting end,” he said. “I love to show people that. I will not take a coin that’s worth much more and just buy it for the gold bullion.”
And Trompeter said many of the more rare pieces end up in his personal collection rather than being put for sale in the store.
“A lot more coin collectors recently, it’s a great hobby,” he said.
“I’m the luckiest guy in the world, I get to come play every day in my job,” he joked.
Trompeter said that the recent rise in price of gold and the interest in coin collecting has increased traffic in his business. “It’s been almost out of control it’s so busy,” he said.
Prices on gold change daily based on the world market. Trompeter says he buys and sells gold based on current prices — so like other stocks and commodities, investors could take advantage of fluctuations in the market.
Trompeter said that people in the Falls have also been taking advantage of selling gold and other jewelry while the market is hot.
“I don’t know if here they need it so bad as they realize they’ve just got this value sitting there. They’re not using it. It’s just sitting in a drawer rattling around,” he said.
