Wondering what to do with the mate of a long-ago-lost gold earring? How about a gold bracelet that no longer fits or a broken necklace?

With record-high gold prices at more than $1,100 an ounce, area jewelers and pawn shops are encouraging residents to trade their unwanted gold for cash.

“Gold prices are very high right now,” said Pete Creekmore, owner of Rae”s Jewelry in Columbus. “It”s a good time to sell gold, if you have it.”

Rae”s, like the other businesses mentioned in this story, will test jewelry, on site, to determine if it”s pure gold.

“Compared to a year ago, I”d say we have three times as many (customers selling their unwanted gold),” said Denise Reid, owner of Rings and Strings in Columbus. “Usually, people that are selling their gold (are selling) things that are broken or old or that they don”t need or want. They”re getting rid of something they don”t need or want for help to pay their bills.”

AAA Jewelry and Loan in Starkville has seen a decline in customers selling scrap gold, but Manager Polly McClain expects business to increase with the prices, including extra incentives, offered for gold.

“We”d like to have a lot of people come in and sell their gold, but it”s been kind of slow lately,” she said. “Anytime”s a good time to sell their scrap gold. If they come in now, we give them the best price in town, plus we”re adding 10 percent extra. They can get cash for it, or they can trade it in for items in the store.

“We test it here and we give more than anybody in town. Most of our business is word of mouth and we have people come in from Louisville who heard their friends tell them we give more than anybody.”

Ohio Valley Gold and Silver Refinery is conducting a reclamation drive, this week at the Comfort Inn in Columbus, located off Highway 45 North.

From 9 a.m. to 6 p.m. today and Friday and from 9 a.m. to 4 p.m. Saturday, residents can take their gold, including dental gold, silver, jewelry, coins made before 1965 or rare coins, paper money made before 1934, wrist and pocket watches, war items, vintage guitars and antique toys for assessment and sale.

“We have our refinery, which cuts out the middle man,” said Ohio Valley Gold and Silver Refinery Show Manager Jim Webb, noting more than 100 people a day are expected to do business at the reclamation drive. “We can pay higher prices for items… because we go directly from buying to refining. And gold prices are at an all-time high.”

Ohio Valley Gold and Silver Refinery officials said they expect to distribute $300,000 in payments for customers” gold, silver, jewelry, coins, paper money, watches and other items during the week-long reclamation drive.