3 Minutes on a Park Bench with Charles Jonath from Alex and Son Coins in downtown Novato

Charles Jonath, owner of Alex & Son Coins, talks about how he became involved in the coin/gold & silver industry and reminisces about the time he came across an ancient 2,316-year-old Athenian silver coin.

Patch: What type of services does Alex & Son Coins offer?

Charles: We buy, sell, & trade coins, precious metals, paper money, diamonds and estate jewelry.

Patch: How did you get involved in the Coins/Gold & Silver industry?

Charles: We are a third generation business. Our father/grandfather was an avid coin collector. Coins and precious metals had been in his family for generations and in 1954 he decided to go into the business full time. He opened up his first store in Long Beach California to cater to collectors and our family has been in the business ever since.

Patch: What is your favorite coin and where did you get it?

Charles: It would have to be the 1907 High Relief $20 Saint Gaudens Double Eagle Coin made by the United States Mint. We purchased it years ago from a lady whose grandfather worked for the Philadelphia mint. It’s a beautiful coin. A high relief is a coin that has been struck 3 times. It took significant technological advancements of the minting process to make this coin. In 2009 the US Mint made an ultra high relief which is also a great coin for any collector.

Patch: What three questions should readers ask to tell if they are dealing with a reputable coin or gold & silver expert?

Charles: 1. How long have they been in business? 2. How informative are they? They should be willing to answer your questions and explain the process of buying or selling to you. 3. Are they competitive amongst local dealers? If you are buying, then the coin dealer should inform you of what the price would be to repurchase the items. If you are selling they need to let you know what the spread value to the market price of your items would be.

Patch: If a reader is considering selling his or her jewelry/ precious metal, how can they tell if they are getting a fair price?

Charles: When it comes to jewelry you want to know what the purity or otherwise known as the “Karat (k)” of your gold. 24K is considered to be pure gold. We accurately test the purity of your gold directly in front of you and weigh it on a NTEP approved, legal for trade scale. Precious metals market volatility and refining costs can create price fluctuations but you want to get approximately 80% of your gold value. Reputable dealers should pay within this range.

When it comes to bullion coins and bars it’s very simple. These items have standard market prices which are very easy to look up on the Internet. They change according to the price of gold, silver and platinum.

Coin collecting is more of a hobby or passion like art collecting. Coin collections also can be an investment. Usually collectors know the coins they like and also have an idea of their prices. If you are new to coin collecting my advice would be to work with a dealer you trust, ask them lots of questions about collecting, and try to collect coins with a base metal value such as silver & gold coins.

Patch: What is your favorite aspect of the Coin/gold & silver industry?

Charles: My favorite aspect of the industry is having the ability to deal with customers face-to face and buying & selling sound products like precious metals. I feel these days’ precious metals are often an overlooked asset class with Main Street America. Warren Buffet may not like gold and silver, but many top wealth managers such as Ray Dalio of Bridgewater Associates and all of the G20 nations’ central banks do. These institutions and sovereign nations hold precious metals to use as an alternative currency when needed.

Patch: What is the oldest coin you have come across?

Charles: It would have to be an ancient Athenian silver coin from Greece. It dates back to around 300 B.C which makes it 2,316 years old.

Patch: Why should people own precious metals?

Charles: There are three important reasons why I feel people should keep about 5-10% of their portfolio or net worth in precious metals. Firstly, you have to think of precious metals like a physical money market account. This allows you to save money in an alternative currency that will protect you against inflation over time, without having a paper investment. With an estate you can transfer precious metals without all the red tape like having to transfer stocks, bonds etc. Buying and selling precious metals is very easy to do and bullion has standardized pricing amongst reputable dealers.

Secondly, you are in a sense purchasing currency insurance and here in America that’s protection against the US Dollar. This gives you what is known as tail risk because precious metals protect you against government insolvency, war, currency collapse, and markets lack of good investment opportunities such as when markets become overpriced.

The third reason, which is easy for everyone to comprehend, is that precious metals are liquid assets that can easily be sold if the need for funds arises.

Patch: How can readers contact you or find out more about Alex & Son Coins?

Charles: Please see our website (http://alexandsoncoins.com/) for more information about us. We can also be reached at 415-899-0100 during regular business hours: 10 AM- 5 PM Monday through Friday and 10:30 AM-2 PM on Saturday. We are happy to answer your questions. Walk-ins are always welcome at our store located at 1413 Grant Ave in downtown Novato.

Other interesting facts about our business. Our founder and grandfather Sam Frudakis started the Long Beach Coin Show with Ray Lundgren in 1964. The Long Beach Coin Show today is the second largest coin show in North American. See link for details: http://www.longbeachexpo.com/news/2014/90 & http://alexandsoncoins.com/coin-collections/longbeach-coin-show2016/.