by: Mike Miller
7/18/2017

While thefts of virtually everything seems to be on the rise lately, there comes a report from the insurance industry that jewelry thefts are actually down this year.

While stories still abound on the Internet about jewelry thieves, recent statistics show that jewelry and precious metal thieves have targeted jewelry stores less.

National jewelry and precious metals thefts rose 51 percent between 2005-10 to $1.56 billion, according to FBI statistics. In the same period, the Jewelers' Security Alliance reported jewelers' losses dropped 54.1 percent to $83.3 million. This as reported in insurancenewsnet.com.

Thefts from jewelry stores have consistently been a small percentage of overall jewelry crimes, and they dropped to 5.3 percent in 2010.

One of the primary reasons for this is that jewelers have increased security while their insurance companies have asked for more precautions against thefts. Many insurance providers require jewelers to lock up as much as 80 percent of their merchandise each night in store vaults.

Quite common are instances such as the theft of $34,000 in diamonds and cash from two diamond brokers from New York outside the Courtyard by. Suspects can follow dealers or brokers they know have been trading in jewelry or valuables.

The Jewelers' Security Alliance, which tracks jewelry store thefts, reported that amounts of losses can be affected by gold and diamond prices, which have recently risen dramatically. Arrests increased from 538 in 2010 to 657 in 2011, which "is significant and an indication of continued local and Federal law enforcement interest in jewelry industry crime."

It would be nice to see decreases in metal theft too. Many homeowners and businesses suffer billions each year to the theft of metal. Perhaps mandatory anti-theft classes at younger ages will keep kids from stealing.