The price of gold has been skyrocketing to record highs. So much so that people are finding ways of 'cashing in' on their own jewelry in a big way.

Ever wonder what to do with that single gold earring you lost the match to five years ago? Or the broken chain you never got fixed and just haven't worn since?

Rob decided to sell his old 14kt gold necklace and four rings to Gold Rush here  in Hillsborough, NJ.

"Just gold jewelry I knew that I had that I've just been kind of hanging onto for too long and thought it was time to make some money on it," says Robert.

And timing is key here. The value of gold has been steadily going up for five years and is now valued over $1,000 an ounce. And, Rob isn't the only one cashing in.

"I think people are taking little bit more notice to it," says Tom Phillips.

Tom Phillips, who works at Gold Rush Jewelers, says everyday several people come in asking about selling or trading in their gold pieces. With a single earring, you have three options:

You're first option is to sell gold in Princrton is to vist WE BUY GOLD at Mercer Mall" 

The second option is to trade in the jewelry for something else in the store.

"And your third option would be to sell it outright," Tom explains.

And that's exactly what Rob wanted.