Gold = Cash: New Hudson business wants to help its customersNathan Turnquist has a lot of enthusiasm for life and business. A born entrepreneur, the Twin Cities native who has lived in Hudson for the last five years, opened North Country Gold & Silver Co. here on Friday, Feb. 3.
By: Margaret Ontl, Hudson Star-Observer
Nathan Turnquist has a lot of enthusiasm for life and business. A born entrepreneur, the Twin Cities native who has lived in Hudson for the last five years, opened North Country Gold & Silver Co. here on Friday, Feb. 3.
“I got started in it 10 years ago just buying and selling for a hobby,” said Turnquist. “We decided to open up a store. Pawn shops don’t give people a break. They are in it for 100 percent profit. It is the customer’s gold. If we want it we should have to pay for it.”
Turnquist and his finance, Maddie Stronich, who is from Prescott originally, opened their first store in Bay St. Louis, Miss., four years ago.
“We were down there buying FEMA trailers,” said Turnquist. “We sold 20,000 trailers in a year.” The couple moved down there starting a business called Main Stream RV, having purchased the trailers at a government auction. They sold 30 to 40 a week.
While they were there, they decided to open the first North Country Gold & Silver Co. store. Shortly after that they opened a store in Park Rapids, Minn., where Turnquist’s parents live.
“We saw the need for a gold store and opened it three years ago,” said Turnquist. “I analyze the town and figure out what the town really needs and how to benefit from it.”
It was this approach which prompted Turnquist to also open a used car lot in Park Rapids as well.
“No car is over $3,000,” said Turnquist. “It has been a huge success.”
The young entrepreneur saw a need in Hudson, because it is a very active community.
“This is especially attractive to women, who want to change their looks by updating their jewelry,” said Turnquist. “I don’t want to see people receive less than they should for their gold. Number one is I educate my customers. The economy is not going to get any better.”
“Silver is going to go up to $50 and gold is expected to reach $2,200 to $2,300 an ounce by the end of the year.” According the Turnquist, his success is directly linked to extensive homework on the market.
“Most investors want something they can hold in their hand.”
The process, involves first determining if what you brought in to the store is actually gold or silver. Then the weight is determined and a price offered. You can bring in gold, platinum or silver in jewelry, coins, silverware, watches and many other forms. Class rings are a favorite.
“It not about needing money,” said Turnquist. “What we are trying to get people to do is go into their jewelry box and turn it into cash for something they want, a vacation, something for their home.”
“I don’t have a lot of overhead and what allows me to pay more is that I don’t have a middle man. I refine it myself,” said Turnquist. “I also have a conscience, most people in this business don’t. I’m here, this is my store and I want to establish a good reputation in town.”
Along with the store, Turnquist and Stronich are offering Gold Rush Parties. They provide the food and refreshments at the store or in someone’s home.
“Whoever hosts the party gets a percentage from the sales,” said Turnquist.
North Country Gold & Silver Co. is located at 1920 Crest View Drive (old Mr. Movies location). It is open from 9 a.m. to 8 p.m. Monday through Saturday. For more information, go to www.northcountrygoldnsilverco.com.
“I always tell customers to watch the change you get at a store,” said Turnquist. “Any dime, quarter or 50 cent piece minted before 1964 has more than face value.”