Coins, Gold, Diamonds, Antiques
Grant Reynolds stands behind the counter at his shop.
Reynolds Coins, Jewelry and Antiques good as gold
By Ted Pennekamp
People looking to buy, trade or sell their gold, coins, jewelry and antiques have increased in recent years. To keep up with this increased demand, businesses that specialize in these items have opened at various locations throughout the region.
So it is with Reynolds Coins, Jewelry and Antiques at 1502 S. Marquette Road, Unit B, Prairie du Chien.
“I buy, sell, or trade gold coins from any country,” said owner Grant Reynolds, who noted that he has been at his current location for six months. “I deal with about any coin ever made from any country if it has a date on it.”
Reynolds also noted that people can bring in their dateless coins and he can test them to see how much value they may have.
“Coin collecting, buying or trading has been becoming a really big trend,” said Reynolds. “There are more than three million collectors in the United States alone.”
Reynolds said that coins don’t have to have precious metal in them to have value. “They can be worth good money if they’re high grade,” he said. “For example, Buffalo Nickels are comprised of 75 percent copper and 25 percent nickel. A 1916 D in Mint State-63 is worth $245-plus due to demand, rarity and scarcity.”
Reynolds began collecting at age 9 and over the years has taken various classes and read a lot of books to gain knowledge about coins, high-grade diamonds and antiques. He has several Red Books on hand, including the 2016 version. “It’s the Bible for coins,” he said.
Reynolds also said that he learned a vast amount about coin grading from long-time collector and businessman Jesse Miles of Lancaster, who was Reynolds’ mentor for six years.
“There’s a lot to know in this business,” he said. “I’ve been in this business for more than 21 years and have really learned a lot in the last 10.”
In giving advice for people thinking about selling coins, jewelry or other such items, Reynolds said that they should take small amounts to businesses such as his and get different appraisals. He also said that people should get informed, check various websites, and always get a receipt upon selling an item.
“Don’t let it out of your sight,” said Reynolds to people who wish to take potentially valuable coins, jewelry or antiques to businesses to get them appraised. He noted that unscrupulous dealers could pull a switch if allowed to take the item to an area of the store that the customer can’t see.
Reynolds also said that people should familiarize themselves with terminology such as AU (almost uncirculated, and also the Periodic Table symbol for gold), RGP (rolled gold plate), GF (gold filled), and other such terms.
The rarest coin that Reynolds has ever purchased was a 1916 D Mercury Dime. He said that between 1916 and 1947 only 270,000 were made. He said that U.S. silver dollars, halves, quarters and dimes made in 1964 or before are 90 percent silver and always worth more than their counterparts made in the years after. Coins are graded on a scale of AG (Almost Good)-1 through MS (Mint State)-70, with 70 being the best, Reynolds said. He noted that there is also PF (Proof)-70.
If you’re wondering about your own items, stop by Reynolds Coins, Jewelry and Antiques between 9 a.m. and 6 p.m. Monday through Friday. Saturday hours are by appointment. He said he will stay open late if a customer calls ahead. Reynolds is closed each day from 1:30 p.m. to 2:30 p.m.
Reynolds also noted that if a customer should start feeling seller’s remorse, he will give their money back within five business days if the item is in the same condition. However, bullion bars, rounds and ingots are exceptions due to the volatile markets which trend up and down daily.
“I strive for five-star customer satisfaction 24/7,” said Reynolds. “I have never had an unresolved complaint. I am also a lifetime member of the American Numismatic Association and the Professional Numismatists Guild.”
