Sarasota coin group searches for rare coins

The Sarasota Rare Coin Gallery has been a longtime fixture in the Sarasota area, it’s been at its location in South Washington Boulevard since 1991 and was a store on Main Street for years before that. 

The store has a vast collection of rare coins and currencies that chart different time periods and countries and show how money changed shape and value through the years. 

As of late, it’s been home to something else as well. 

The Sarasota Coin Club — a mix of men and women who pride themselves on being longtime coin collectors — meet at the gallery once a month to catch up, compare coins, plan trips, and enjoy the hobby. 

It’s been a relatively hectic time for the coin club, which has had to relocate and readjust operations in the wake of the pandemic. The group typically meets in a fire station in Waldemere but had to move to the Sarasota Rare Coin Gallery for meetings more than six months ago.

“It’s been a little disjointed,“ said David Klein, club president and one of the partners with Sarasota Rare Coin Gallery. “COVID has scared a lot of people off, we have a lot of elderly members.”

The coin club has historically held shows of its own, but COVID has nixed those plans for the time being. Members meet the third Monday of each month to go over plans to visit new coin shows, even going as far as to sponsor bus fare for transportation. The meetings often end with raffles and auctions in the hope of acquiring other coins.  

Klein’s journey into coin collecting started when he found a job at a coin shop to make some more extra cash when he wasn’t working at a restaurant. It was the tangible products that represent large swaths of history that appealed to Klein. 

“Everybody here would agree that it’s history," Klein said. “There’s a reason why all these coins were minted, why they’re rare or not rare. To have them nice and in beautiful condition, that’s rare.”

Klein’s time running the Sarasota Coin Club started in a more unexpected way — he jokes he never wanted it when it was offered 32 years ago. The club at the time had a president and only five members, it was close to being disbanded

They asked Klein if they could host a meeting at his store, to which he agreed.

“At the first meeting, I was appointed vice president,” Klein said. “The next year I was president and we took it from five people to 125.”

While the club has had to adapt to pandemic conditions, Klein feels the industry has done well during COVID. Demand and lack of supply has increased several coins' value. The lack of trade shows — a non-pandemic year would have him going to more than 10 a year, but now maybe two or three — has hurt business but pivoting to online sales and transactions has proved essential. 

“Rare coins and gold are hot,” Klein said. “People are worried about our economy. When things are scary for people, they take money out of banks and buy coins or collectibles.”

As it stands, coin shows are returning and Klein has noticed an increased interest in the hobby as of late. He and his fellow members are preparing for a upcoming show and are excited for what they might find there.”

“You become attached, you love it,” Klein said. “The coins are beautiful and they’re history, when you think about who held those coins in their hands.”