A $10 million, 28-year old coin service is expanding into a 3,100 square foot location in Lansing’s Frandor shopping center.
Liberty Coin Service owner, Patrick Heller, says first quarter 2008 sales volume surpassed all of 2007’s sales volume, prompting him to expand his presence in Frandor.
“We’ve been busy since 2005,” Heller says. “We’re not even done with May, and the first five months of this year are the five highest months since I got here in 1981."
Heller will keep his 1,800 square foot showroom that’s in the basement of Bank of America and will expand across the street. Right now, his services are in such high demand that his clients spill outside of the building.
“We’ve been reducing our advertising because we didn’t have the capacity to serve all of our customers,” he says, noting that he’ll start advertising again after he opens the new location in June.
The increasing price of gold and platinum as well as the declining value of the dollar have encouraged consumers to sell and acquire these two commodities, Heller says.
“I expect [growth] to continue and I expect to be more active when we have more capacity,” he says.
Heller’s added six employees to accommodate the growth, and may add one or two more when the new location opens.
Source: Patrick Heller, Liberty Coin Service
Ivy Hughes, development news editor, can be reached here.
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