The JS Foundation and JS Gold & Coin are teaming up to support Breast Cancer Awareness and The Susan G. Komen Foundation. Part of JS Gold & Coin's commitment is to wear PINK on the 19th of each month to work. Please join us and support the fight against breast cancer.
Channel 9 News interviews the founder of JS Gold & Coin about the rare coins JS Gold & Coin at Jungle Jim's has on display. Check out this video, and stop by our Jungle Jim's Location in Fairfield Ohio to see some of the most rare coins in the Tri-State Area.
Gold is over $1600/ozt! Watch this video by Channel 5 News about the gold market today and why others are selling their gold jewelry.
Local gold shop expands
Owner says success not just high price of gold, but service
The price of gold is at all-time highs. Rare coin collecting is gaining traction. And current economics are encouraging both buyers and sellers of vintage items.
JS Gold & Coin couldn't be better positioned.
"There is sort of a modern-day gold rush going on," says Jon Saylor of the Kenwood-based company he founded in 2008. In addition to gold, JS Gold & Coin buys silver, coins, estate items, old paper currency and even vintage costume jewelry. Most of the metals are sold to refineries, where they're melted down. The business also resells some of the coins, jewelry and currency in its stores.
Since Saylor opened his first store in Kenwood, JS Gold & Coin has grown to five locations, and from one to 50 employees. The newest location opened in October at Jungle Jim's in Fairfield, and it's also the company's largest. The Fairfield store has six employees, but that could double by Christmas.
JS Gold & Coin also has stores in West Chester, Florence and Anderson. Additional locations are possible in 2012, Saylor says.
The company grossed $22 million last year, and revenues are expected to triple by 2012, CEO Nancy Hendricks says. She recently purchased the company from Saylor and says a key to its success is the training its employees receive.
"We invest a lot in our people," Hendricks says. "Somebody might come in with a coin background, but might not have a jewelry background. It might take a good six months for someone to become well-rounded. They learn faster here."
The company's business is built on volume, allowing it to pay higher prices yet remain competitive.
"The model is set up for people to get a ton for their items," says Saylor, who works as the company's chief numismatist. "They let other people know, and they get a ton. Our doors are open to everyone. Truth is we don't get the desperados."
Gold has been selling for just under $1,800 an ounce, a price that's helping drive JS Gold & Coin's growth. But Saylor says the company's age-old approach to customer service sets it apart from other "prospectors" who are simply looking to bag big profits while the price of gold is up.
"We're not a pawn shop," Saylor says. "We attract the type of customer who doesn't need the money. Most places are in the other scenario. We know our customer very well. Most of the people that come into our stores don't need to sell. They're just taking advantage of the high price."
JS Gold & Coin's employees spend time with customers to educate them about deals so customers feel comfortable selling their items and the value they're getting in return, Saylor says.
"What's allowing us to branch out is revisiting an old concept that works: treating everyone the way you'd want to be treated."
We buy Gold, Silver, Coins, Estate Items, Broken/Old/Unwanted Jewelry,
Old Paper Currency, Platinum--
EVEN VINTAGE COSTUME JEWELRY!
All in a manner that is enjoyable to all who participate!
The Tri-State's largest volume buyer, so we are always able to pay high prices for you items!
Stop by one of our convenient locations!
And see what your items are worth!
JS GOLD & COIN
JON SAYLOR NANCY HENDRICKS
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