In Eastlake, a shuttered Starbucks is turning into gold as Bellevue Rare Coins moves in

(Image: Bellevue Rare Coins)

One of the great under-told Seattle stories of the 21st century is how the city’s economic tides and entrepreneurial currents have filled the spaces left behind by the retreat of its hometown coffee giant.

One recent example is in the Central District at 23rd and Jackson where cafe and job training venture Coffee TAB is now serving in a space Starbucks exited over public safety concerns in a neighborhood it had been so proud to debut in decades earlier. On Capitol Hill, there are tacos on Broadway and pet supplies on E Olive Way.

The city’s next post-SBUX regeneration will come below Capitol Hill in Eastlake where a former Starbucks cafe is lined up to provide a new service in the neighborhood dealing in precious metals, numismatics, fine watches, and jewelry along the main drag.

The opening will also be a return to the city for a company with a long history of serving the rare coin, and gold and silver needs of Seattle customers.

City paperwork shows a new outlet for Bellevue Rare Coins is being planned for a change of use in the 2300 block Eastlake Ave E space where Starbucks shuttered its neighborhood outlet.

Bellevue Rare Coins offers precious metal dealing, numismatic services, estate purchasing, and custom jewelry care across Puget Sound locations in Bellevue, Issaquah, Lynnwood, and Tacoma… and, soon, Eastlake.

The shop won’t be the first Bellevue Rare Coins located in Seattle. In 2022, the company shuttered its West Seattle flagship after being unable to upgrade the security of its longtime shop following an armed robbery at the outlet.

With spot gold and silver trading at highs, industry reports detail storefronts like BRC shifting heavily toward consumer selling rather than buying. Meanwhile, precious metals and estate appraisals rely, um, heavily on customers transporting high-value items to the store. While Eastlake Ave E is a big construction mess right now, the corridor is being reconfigured for transit, driver, and pedestrian safety improvements with a planned launch of a new RapidRide J line in 2027.

The big driver? The property has a surface parking lot and isn’t far off I-5. And it was for sale. Records show corporations related to the company behind the purchase of the Eastlake parcel for $2 million in August.

Back then, that was about 500 ounces of shiny gold. By next summer — if industry forecasts hold — those ounces will be worth around $2.5 million. There’s no telling if Eastlake real estate will keep up.

Meanwhile, some Starbucks holes take longer to patch. One of its biggest is on Melrose and Pine where the company suddenly closed its $20 million+ Capitol Hill roastery. That space has now been empty and shuttered for over a year.

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