NRF: Valentine’s Day Jewelry Sales Expected to Reach $3.5 Billion

Tiffany's Elsa Peretti open heart pendant in 18k rose gold.

Consumers are expected to shell out $3.5 billion on jewelry this Valentine’s Day, up from an estimated $3 billion last year, according to a National Retail Federation survey.More than 17 percent of consumers said they are planning on buying their loved ones something sparkly, up from 15.5 percent last year, according to the NRF’s 2011