JewelRecycle is owned and operated by Todd Melet, who is a Triangle local. Todd grew up around jewelry. His grandfather owned a jewelry store in Michigan, and his father owned a women’s clothing store with a large jewelry department. Todd spent many hours helping his father and grandfather sell, sort, analyze, and display their products.
At the age of 13, Todd developed an interest in coin collecting and began to work for a local coin dealer. He worked at the coin shop throughout his teenage years. The prices of gold and silver were skyrocketing and lines were out the door. He joined the American Numismatic Association in 1977, and still attends coin industry trade shows nationwide.
During his college years, Todd put his entrepreneurial spirit to work as he started two technology companies. In 2009, he saw that the price of gold was beginning to take off again. Recalling the successful coin shop he had worked in decades ago, he began to investigate the market in the Triangle. Todd saw that while there were some places for people to sell their gold, the staff didn’t have much expertise and stores were severely underpaying their customers.
He saw an opportunity to open a storefront where people could receive fair, honest prices in a comfortable setting for their precious metals. Todd wanted to bring his experience in applying technology to this industry, so he developed a web-based point-of-purchase system that efficiently makes calculations based on a live feed of precious metal and diamond prices. This system, combined with the nondestructive X-Ray fluorescence technology used to evaluate purity in seconds, enables JewelRecycle to offer its clients an easy, transparent assessment and a fair offer for their precious metal items.