Just before 10 am, two masked and armed men entered the Northern California Coin Exchange on Grand Avenue, according to the store's owner Charlie Mamoser.
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Mamoser said the men pointed their guns at him and told was told to get down on the ground while they stole thousands of dollars in valuable merchandise and coins.
When the suspects took off with the stolen goods, the business owner chased after them.
"They were trying to exit, they couldn't exit, I have to buzz them out, so I told them I gotta buzz you out," Mamoser explained. "When I buzzed them out I got up, said a few curse words, I grabbed my gun I went outside and I saw them walking up the hill and so I followed after them."
Mamoser believes the men were also slowed down by the 100-pound bag of coins they were attempting to carry away.
The footrace came to a halt one block away when the business owner and suspects began shooting, police said.
During the exchange of gunfire, a stray bullet penetrated a home, and hit the resident inside.
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"The resident is listed in stable condition at a local hospital," police said. "Ultimately the suspects fled the scene leaving the loss behind."
Police say other family members were in the home at the time. A neighbor says she saw a man who had been shot give a thumbs up to his kids while leaving for the hospital.
Police are still investigating whose bullet hit the person.
The robbers dropped the bag of coins during the gunfire exchange, however they were able to escape.
Anyone with information about the incident is asked to contact the Oakland Police Department Robbery Section at (510) 238-3326.