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1979 - Cast 14K gold ring with natural Alaskan gold nuggets set with sapphire and diamonds.
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An Uphill Battle
The 70s were not easy for the Gannaway Brothers. In their first full year of business, their gross sales were a mere $20,000. Twelve to sixteen hour work days were the norm since each piece was hand fabricated one at a time. Their ability to grow depended on Tim’s fishing trips, which brought in $10,000 to $15,000 each summer. With that money, they were able to buy casting equipment, gold, and precious gemstones allowing them to create fine jewelry with far less effort. Tim also learned some new skills when he went to Edwardsville, Illinois with Dwight Irish and worked on a life-size bronze statue of James Madison that would later be installed in the Madison County Courthouse. Consequently, a few bronze sculptures were sold out of the Astoria store in the late 1970s. The fishing money enabled them to buy gold and gemstones towards the end of the decade. In order to project a more professional image, they officially changed their name to “Gannaway Bros. Jewelry” in 1979.
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