Lifelong Passion for Coins Leads LePosa to New Store
By Sydney Teter
CHAMPION TOWNSHIP, Ohio – For most of his life, Matthew LePosa, has loved coins. Now, after years as a dealer traveling the country to buy and sell them, he has a store to call his own and share that passion with other collectors and hobbyists.
“It’s been a passion of mine since I was 8 or 9 years old, when I first started collecting,” said Leposa at a ribbon cutting for his store, Elite Rare Coins. “I’m just glad to be a part of the community.”
LePosa describes the kinds of collector and investment coins including bullion, silver, gold and platinum while also showcasing estate liquidations and appraisals involved in the industry.
“It’s a lot of learning our past and where our money came from and where it’s going,” said Andrew LePosa, Matt’s brother. “We spend it every day and think nothing of it. If you go back and look at it, the designs, the different coins that were made and why things are the way they are, it’s interesting to learn why certain people were selected to be on different bills and coins. If you like history, it’s a great read.”
For Matt LePosa, it’s that aspect that draws him to dealing in coins, whether it’s working with collectors or those buying and selling as an investment.
“I get a lot of collections that come in from inheritance. Just being able to educate people and help them enjoy a nice hobby is what I most look forward to,” he says.
With the opening of his store, 175 Folsom St. NW in Champion Township, Matt LePosa says he’ll be able to tap into a market of customers that prefers to do business in-person.
“This is now one of the only coin shops in the area, not considering the one other shop within an hour drive,” Andrew LePosa says. “Many have to travel to Cleveland, Youngstown or further.”
There are still ways for people in the advent of buying online, but “people want to see things in person” he continues. “Already, being open a couple of weeks, there has been great business and people coming in that normally wouldn’t have shopped with him”.
As of now, Matt LePosa is the store’s sole employee, though there is “a lot of support behind the scenes.” He worked with several industry organizations to get started and operate the shop full time.
Before adding a physical location for his store, LePosa was traveling to shows around the country and doing business online. “I’m thrilled about the location,” says Christine LePosa, Matt’s wife, “Before this, he was on the road quite a bit and was gone from home the majority of the week. It’s nice having him around and local.”
Usually, Matt LePosa says, he travels for 20 to 25 shows a year, but that number dropped substantially last year. Once it’s easier to travel, he says, Elite Rare Coins will return to the circuit, although possibly attending fewer shows.
“It’s hard to tell until we get going,” he says.
The LePosas are honored to be serving their local community, the three all say. “We have folks from the neighborhood, from our church, and other people that we know locally who are frequenting the shop,” Christine LePosa says. “It’s just a wonderful way to plug in and be able to be part of the community that we have come to love so much.”
Pictured: Matt LePosa, owner of Elite Rare Coins.
Copyright 2023 The Business Journal, Youngstown, Ohio.