After 30 Years, Second Generation Owner Keeps Local Business Strong
"I know my grandfather is happy that the business has continued to prosper as we celebrate our 30th anniversary this year," Birmingham business owner says.
There is an old saying that timing is everything.
That certainly was the case in 2010 when Bryan Frank decided to take over his grandfather’s rare coin business and expand into the gold and silver bullion market.
Bryan began working with his grandfather, John Frank, the year before at Birmingham-based John Frank Rare Coins, with an eye toward closing the business. John Frank had started the business in 1982, turning a hobby into a second career that endured for nearly 30 years.
“I have always been around coins and was looking for a new opportunity when I offered to help my grandpa with the business,” said Bryan Frank, who earned a business degree from the University of Michigan in 2007 after serving two tours of active duty in Afghanistan and Iraq and retiring from the United States Army with the rank of sergeant.
“The deeper I got into the business, I recognized there was a real opportunity there to keep it going,” Bryan added. “So I continued to work with my grandpa and eventually decided to buy the business from him in 2010. We continued to work together in 2010 before I took over the operation in 2011. Even though my grandfather is now retired (at the ripe young age of 93), he has been a tremendous mentor and role model and continues to provide counsel to me.”
While rare coin investment and appraisals of collections continue to be a core part of the business, Bryan has expanded the business into precious metal investing and estate liquidations. With gold and silver prices at or near all-time highs while the national and global economies remain shaky, more and more people are looking to lock in a tangible asset.
“Gold and silver are a great hedge against inflation and you can take physical possession of your investment as opposed to receiving a certificate,” Frank said. “And both precious metals and rare and collectible coins are great ways to pass wealth to your heirs.”
Asked what he likes most about the business, Bryan said it is the little surprises that come through his doors on a regular basis.
“Every day is different, and you never know what someone may be bringing you to appraise or offer for sale,” he said. “I’ve met a lot of interesting people who have come to the office or found me at a coin show, and I know my grandfather is happy that the business has continued to prosper as we celebrate our 30th anniversary this year.”
This story was submitted by Joe Bauman, president of the Birmingham Bloomfield Chamber.