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Posted - May 28, 2014 at 3:23 p.m.

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This is Chris Redgrave for Zions Bank Speaking on Business.

Are you a numismatist? That is, are you intrigued enough by rare coins to collect them? Or maybe you just enjoy learning about them and keep a small collection on the side. If so, you may know about Rust Rare Coin in Salt Lake City, now entering their third generation of family ownership. Theirs is a great story of passion translating into a successful business.

The story starts with Alvin Rust. He was always interested in rare coins and spent years studying them and building his own collection. He gained enough expertise that he decided to start his own coin collection business and launched Rust Rare Coin in 1966. That way, he could combine hobby with livelihood. Now, just a couple of years shy of half a decade later, his grandson Josh is bringing the business into the third generation of family ownership.

At Rust Rare Coin, of course coins come first. Many who live in Utah are fascinated with the pioneer past, including pioneer money. If that's you, this is the place to find some great historic products from back in the times of Joseph Smith and Brigham Young. Customers like to collect things, like bills signed by Joseph Smith or notes in circulation in 1837. The store even features Mormon Pioneer gold coins from the early days of the state. They're serving a well-heeled clientele as well as coin-collecting hobbyists.

Occasionally people will bring coins and currency in to Rust Rare Coin and discover it's worth more than they thought; of course, the opposite is also true — sometimes they're disappointed because the worth isn't as high as they hoped. This is where the expertise of the team at Rust Rare Coin comes in.

There's an art to pricing and experience has taught them how to be practical, yet fair. That's not something you learn in the classroom but something that is generational and developed through the years. It's one of the important areas of expertise Rust Rare Coin brings to the table after three generations in the business.

For Zions Bank, I'm Chris Redgrave, speaking on business.

Rust Rare Coin 252 E. 300 South Salt Lake City, UT 84111 801-363-4014


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