By Sheryl Jensen
Bill Jahn inherited his interest in coins from his father. When Bill was 9 years old, his dad gave him an ice cream bucket of wheat pennies and a blue coin book for his birthday. He told Bill to pick out his coins and arrange them in the book.
Jahn continued to fill the book as he found the coins he was missing. When he only had one left, a low-mintage 1909 S VBD penny, he found it was far too expensive at the time for him to buy it, and so he packed the folder away.
That rare coin that he wanted to buy was a Lincoln cent (that replaced the Indian Head cent) and was the first U.S. coin to feature a real person. It was controversial from the first because of the inclusion of the initials of the sculptor who designed the coin, Victor David Brenner, on the reverse.
“Many years later when my wife and I were packing to move, I found the book again,” Jahn said. “15 years or so after that, I decided to buy the missing 1909 S VDB coin (for $800) to complete the collection. I still have the completed book.”
That childhood memory always stuck with Bill, and he decided he wanted to open his own coin store and share his interest with other collectors, talk to people about their collections, and to show them how to add to what they have.
Jahn eventually left behind his career as a geologist and project manager for an environmental consulting firm. He began his new career when the one and only coin dealer in Duluth closed after 30 years. “I always wanted to own my own business and to be my own boss. So, I was able to turn my hobby into a business,” he said.
In 2009, Jahn opened his own coin shop, Lake Superior Coins (LSC) in Duluth at 118 W. First St. Two years ago, he moved next door to 116 W. First St. He opened his Superior store in 2022 at 1411 Belknap St. Moving to his new location at 1325 Tower Ave. in Superior, he opened after a two-month remodel this past August.
At the Tower Avenue store, he has 1,100 square feet with plenty of room for his storage, display cases, and vault. Jahn noted, “We are the region’s largest coin stores where you can inspect your coins before you purchase. If you would rather purchase online, we have a great website.” www.lakesuperiorcoins.com
At both his locations, Jahn specializes in U.S Coins, including Morgan Dollars, Walking Liberty Half Dollars, Liberty Nickels, Silver Washington Quarters, Mercury Dimes, U.S. mint sets, clad proof sets, silver proof sets, uncirculated mint coins, prestige, statehood quarters, national park quarters, presidential dollar sets, and commemorative coin sets, among others.
“In addition, we stock most U.S. Mint products, including the U.S. Proof and Mint Sets, American Women Quarters, Innovation Dollars and Kennedy Half Dollars,” he said.
“Eighty to 90 percent of my customers are buying bullion as an investment. If the stock market, political situations and world events are bad, people will buy gold and silver.”
– Bill Jahn, owner – Lake Superior Coins
Lake Superior Coins also carries some world coins including from Mexico, Australia, the Netherlands, New Zealand and China.
Jahn explained that they carry the 1-oz American Silver Eagles and American Gold Eagles, as well as other silver and gold bullion. He noted at his website that American Silver Eagle Coins are “affordable investments, beautiful collectibles, thoughtful gifts, and memorable incentives or rewards.” It is the official silver bullion coin of the United States.
These silver bullion coins, first minted in 1986, are the only ones whose weight and purity are guaranteed by the United States Government. Based on Adolph A. Weinman’s 1916 “Walking Liberty” half dollar, the coin is seen as one of the most beautiful American coins ever minted.
American Silver Eagles are the world’s best-selling silver coins, with more than 530 million sold since 1986.
LSC sells gold bullion only in stores, gold eagles 1.10 oz., 1/4 oz., 1/2 oz., gold maple leafs, gold kuggerands, and Mac 1 oz. gold bars. Because of the fluidity of the market prices, LSC does not sell bullion online.
With gold at a record high (at the time of this article writing) of $3,641 a troy ounce, and silver, at most recently a 12-year high, was at $41.31 an ounce (at the time of the article writing), they have become more and more popular for investors.
“Eighty to 90 percent of my customers are buying bullion as an investment. If the stock market, political situations and world events are bad, people will buy gold and silver,” Jahn said.
Jahn stated that the most expensive coin he ever bought was a 1909 $10 gold Liberty. He added that the most expensive coin currently in his shop now is a one oz. Gold Buffalo coin at $3,790
Besides purchasing coins, they buy and sell U.S. coins, gold and silver coins, coin collections, silver and gold bullion, foreign coins, paper money and U.S. Mint products. They also buy gold and silver scrap such as jewelry and silverware.
As full-service coin stores, they also provide appraisals and research,.
They also carry a large selection of the most popular coin collecting supplies. Coin collectors, from the novice to the expert, can enhance display and storage capabilities of their coins with coin tubes, folders, albums, storage boxes and display cases. LSC also stocks magnifiers and reference books.
Customers can file their “want lists” with Jahn, who can help them try to find what they are looking for in their collections and for their investments. He goes to coin shows and communicates regularly with dealers and coin collectors. Going on “buy and sell” trips, where he sells some things from his stores and buys things that he and his customers are looking for at the time, also helps him keep current on what is out there.
Reflecting on why he loves coins and his business so much, he said, “I love the thrill of the hunt. You never know what you will find or what someone might walk in the door with on any given day.”
Jahn noted they will be celebrating their grand opening and ribbon cutting for their Superior store the week of October 13.
LSC’s hours in their Superior store are Monday through Thursday from 10 a.m. to 5 p.m. Their Duluth is store open Thursday and Friday from 10 a.m. to 5 p.m. and Saturday from 9 a.m. to 3 p.m. P.S.
