My Biz: BE’s Coins in Cedar Rapids caters to ‘the thrill of the find’

HIAWATHA — A few minutes with Brian E. Fanton will have you taking a second look at what's in your pockets.

'There's still stuff out there,' said Fanton. 'The double-dies 1995 Lincoln (penny). That's not that old of a coin, but they're worth 20, 30 bucks. The 'Liberty' by Lincoln's head was what we called doubled, so you see a double image of the lettering. It's still easy to find those.'

Fanton, 72, started BE's Coins in 1969, the outcome of a lifetime passion started by his grandfather — the same grandfather who nicknamed him 'BE' based on his initials.

'He gave me a book, and when he came back (to visit) he asked me questions out of the book,' Fanton said. 'Every time I answered one he gave me a silver dollar. So I was hooked.'

Just two years after Fanton started his business, the government stopped minting solid-silver coins, switching to a silver outer coat, or cladding, over a base metal.

'Fifty years ago, it was easy because it was still in your change,' he said. 'After '71, everything went to clad coinage. It was very hard to get silver. Everybody was hoarding it.'

That's why serious collectors of American coins are still after pre-1972 examples.

'They're trying to fill voids in their books,' Fanton said. 'They aren't very expensive coins, but you can spend enough to get a nice collection and still be at a reasonable number.'

Along with appraisals, It's business enough to keep Fanton and his seven employees busy.

'They're all part-timers,' he said. 'I've got from a 14-year-old to a 75-year-old.'

Fanton encourages young collectors' interest.

'I've tried to get kids interested in it because it develops patience,' he said. 'They can learn religion, they can learn different languages, they can learn about the countries.'

Fanton is one of just eight doctors of numismatics, a title conferred by the American Numismatic Association. He also teaches some of the eight courses required for the title.

The association gave him its annual award for distinguished service in August.

Fanton was named by then-Gov. Tom Vilsack to the committee that designed Iowa's state quarter, issued in 2004.

The U.S. Mint switched its focus to quarters recognizing national parks after the state-quarter series was completed in 2009. Iowa's entry, recognizing Effigy Mounds National Monument, was released last January with a ceremony at the monument near Marquette.

'I went to the ceremony, we took the whole crew with us,' Fanton said. 'We had a good day.'

What's a good day in the shop?

'When you get a collector coming in to find something and you actually have what he wants, that's a good day,' Fanton said. 'They're always looking for one or two dates of a coin, and they want it a certain grade, so hopefully you've got what they're looking for.

'I've got enough contacts with other dealers, I can make a call. We can fulfill people's wants lists.'

Fanton also deals in paper currency and coins and bills from around the world. The internet has made research easier, 'but some of the stuff is not good,' Fanton noted. 'If you know the website and know what you're looking at, you're going to be OK. But there's a lot of false information out there.'

Such as the urban legend about the 1970 'D' quarter worth $35,000.

'That was just a quarter,' Fanton said. 'The ones that people were bringing in were ones that somebody had made, counterfeit coins. They were trying to get the $35,000 on them. We've had two or three people call us on that deal. You've got to watch the internet scams.'

Still, it's not that difficult to find a coin from the time and place that interests you.

'I just love history, and money's history,' Fanton said. 'Why did they make the '43 steel cent? Because they needed the copper for shell casings during the war.

'They took the copper out and made the steel cent. It's the only coin in the U.S. you could pick up with a magnet.'

Based on membership in the two leading collectors' organizations, Fanton estimates there are about 50,000 serious collectors in the country.

'That doesn't sound like much, but there's people out there still looking still hunting,' he said. 'They're looking for the thrill of the find.'

[naviga:h3 style="padding-left: 60px;"]AT A GLANCE

Owner: Brian Fanton

Business: BE's Coins and More

Address: 1210 N. Center Point Rd., Hiawatha

Phone: (319) 294-4377

Website: https://www.bescoinshop.com/

Know a business in operation for more than a year that would make a nifty 'My Biz'? Let us know at michaelchevy.castranova@thegazette.com