The Diamond District is made up of more than 2,600 independent businesses, all of them dealing in diamonds, jewelry, precious metals, and gemstones. Learn more about the Diamond District in this presentation.
The Diamond District
A brief history of New York’s jewelry mecca
Diamond Districts Worldwide
• There are many “diamond districts” throughout the
Ramat Gan, Israel
Johannesburg, South Africa
• But one of the most bustling centers for all things
diamonds and jewelry in the western world is the
Diamond District in New York City.
NYC Diamond District
• The Diamond District is located on West 47th
Street between Fifth Avenue and Sixth Avenue.
The Move to 47th Street
• Originally, NYC jewelers and diamond dealers
congregated in downtown Manhattan on Maiden Lane
and Canal Street.
• In the early 1900s, financial institutions began to show
interest in moving to the downtown area, and rents
began to rise.
• Over time, buildings were erected specifically to entice
jewelers to move to 47th street, and by the 1940s, the
present day new NYC Diamond District had been born.
The Modern-Day Diamond
• The Diamond District is made up
of more than 2,600 independent
businesses, all of them dealing in
diamonds, jewelry, precious
metals, and gemstones.
• While some jewelers have their
own shops along this strip, most
have booths in the 25 jewelry
exchanges located in this area.
• The average day’s trade value in the NYC Diamond
District is estimated to be around $400 million.
• Approximately 90% of diamonds in the US enter
through NYC’s Diamond District.
Manhattan Gold & Silver (MGS) is a precious metals refiner that has been based in
Manhattan’s historic Diamond District since 1985. We are a B2B company that
buys and recycles precious metal scraps that accumulate in other businesses.
The industrial sector
• MGS also creates charts, calculators, and other online tools for our customers to
• Try our Precious Metals Prices app, which lets you monitor the real-time precious metals
market situation from anywhere, right from your iPhone, iPad, or Android device.
Recycle your Precious
Metals for Profit
• MGS accepts gold, silver, platinum, and palladium.
• Payouts are based on the London Fixing.
• Up to 99% payout (among the highest in the US)
• Up to 98.5% for gold brought in for hand testing.
• Not in NYC? Ship us your precious metals using our Ship &
Sell service which offers:
• Same day wired payment (once lot is received)
• Discounted, insured shipping
• Payout calculator
Connect with MGS
• For amazing facts, history and news, read our gold and precious metals blog.
• Join the conversation about precious metals on the MGS page on Facebook.
• Follow gold, silver, and other precious metal trends at the MGS Twitter account.
• Circle MGS on Google+ to hear our latest updates.
• If you do business with us, connect with us on the MGS LinkedIn page.
• To see precious metal melting and refinement in action, visit the MGS YouTube