The price of gold reached an all-time high on Wednesday. At the end of the day, gold was trading for for $1,143 dollars an ounce. This has some people re-thinking about what's in the jewelry box.

When it comes to jewelry stores, customers are often looking to buy.

"I'm upgrading my wedding ring," said Maryanne Smiley of Council Bluffs who was shopping at Borsheims Jewelry.

These days though, more and more people aren't really looking to spend but trade in.

"We get rings, necklaces and pendants," says Borsheims Director of Marketing Adrienne Fay who takes out a bag which represents a weeks worth of jewelry turned in by customers.

One-third of the customers use the value to trade and buy something else. Two-thirds get the cash. Most of the action is due to the skyrocketing price of gold.

"In these tough economic times," says Fay, "Anything a customer can do to offset the cost of something is a good thing."

The jewelry is brought in for rational and sometimes emotional reasons. Maybe it's from an ex -- or its out-of-style -- or one simply doesn't wear it anymore.

"Knowing they hold their value, I probably wouldn't trade them," says Smiley who is in it for the long haul. She also collects coins.

With shoppers always looking for value, Borsheims will be breaking new territory next week. "For the first time in Borsheims history, we'll be offering a Thanksgiving clearance sale that will run the entire weekend."

Now we can add another door-buster to the Black Friday list.