Wise Jewelers, of Mount Vernon, Ohio, a jewelry store that was founded in 1828, will close in about a month.

Brian and Jennifer McNamara, who have owned the business since 2005, told the Mount Vernon News that the tough economy and high gold prices are among the reasons for the closure.

The store is having going out of business sales, which kept holiday sales about normal, the owners told the newspaper. They say they plan to close the store in late January or early February.

Jacob Brown founded the jewelry and repair shop in 1828, according to the newspaper. The store evtnually became known as Wise Jewelers. Don Wise ran the business for 51 years before selling it to the McNamaras.

It is considered the state’s oldest jewelry store, according to the report.

JCK