The Savannah Morning News reports that a gunman first pointed the weapon toward the shop owner's wife shortly after 9 a.m. Sunday at Sing's discount store.
Savannah-Chatham Metro Police say the man then stepped in front of his wife, and told the suspect they could not open the safe.
Authorities say the gunman then opened fire on the man, but the bullet was deflected by his medallions. The suspect ran from the store after the gunshot.
Authorities say the store owner suffered a minor cut where the jewelry dug into his skin.