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 Replies: 18 / Views: 15,447 |
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Moderator
 United States
189767 Posts |
Quote:
Hope that at least partially answers your questions. As always, you provide the answers we seek.  |
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Valued Member
 85 Posts |
commems,
That is the most informed explanation on the FM I have read. It also kills my notion of some politically motivated conspiracy against the FM. As for employing Gilroy Roberts, I suppose this makes sense as to the high quality of their medals.
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Pillar of the Community
United States
807 Posts |
I recall going through a bunch of coins in an estate, & finding the Franklin Mint "presidents" silver medalet set, with the Gerald Ford medalet still in the envelope with the letter from the director, explaining that Nixon's resignation had resulted in the early release of the next in the series!
They also struck some coinage for national governments in the '60s & '70s, before they slid completely into the production of elaborate kitsch items.
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Moderator
Australia
16868 Posts |
Interest in Franklin Mint products has actually increased since their nadir in the 1980s. The FM mintmark is no longer the Mark of Cain that it once was. The Mint effectively no longer exists (after a series of mergers and buy-outs, the company name has been re-booted, but they no longer actually produce coins - they simply on-sell coins produced by other mints), meaning that the series, although large and complicated, can be considered "closed" and therefore able to be "completed" - making it a much more attractive prospect for the collector seeking a new set-completion goal. And, given that a large number of them have been lost, destroyed or melted down by now, actual numbers of medals in existence today are far lower now than they were back when first released.
As has been stated several times in this thread, their actual products were not of inferior quality. However, the packaging they used was certainly inferior. If people followed the little instruction cards on "how to care for your coins" that the FM shipped out with the packaging, they in all probability ruined their coins. Experienced coin collectors receiving Franklin Mint products who eschewed the snazzy FM packaging and simply stuck their coins in 2x2s have fared much better. Given that the vast bulk of FM's customers were not experienced coin collectors, many coins have indeed been unintentionally ruined. While this is sad news for those holding boxfuls of "ruined" coins, this relatively high rate of decay means higher prices for the small minority of un-ruined examples still remaining.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Pillar of the Community
United States
1302 Posts |
I can add two little bits of information to add to what Commems said:
First, Gilroy Roberts was fired from the Mint as Chief Engraver because he was moonlighting at the Franklin Mint. I have this from good sources within the Mint- it's not common knowledge. The cover story was that he retired.
Second, Coin dealers did not like the Franklin Mint because they felt that it was a direct competitor- this is why, as Commems said, there was no secondary market.
If you read through some old numismatic magazines, specifically from the 1930s and 1940s- you will see that privately issued medals were treated as serious numismatic items. the hobby was a little more misty eyed about collecting and learning- I think as we all grew more cynical after Viet Nam, we started to see darker motives in everything. When the Franklin Mint medals didn't go up in value (outside of bullion value)- there was a sudden turn in favor for them.
But like everything- if something is ignored long enough- it will become scarce... and Franklin Mint pieces once ignored will become coveted by somebody sometime in the future...
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Valued Member
United States
434 Posts |
Many of the Franklin Mint's medals and ingots have been integrated into Hawaiiana numismatics. My last count resulted with 91 items in this niche area of numismatics. Several are listed in the Hawaiian Money Standard Catalog by Medcalf & Russell published in 1991. Others have been omitted by error. I'm in the process of cataloging each of the 91 in a book/article. This brings to light a new breed of collectors who searches for complete Franklin Mint sets being individually dispersed (that is sold for its metal content) for specific specimens or they intentionally cannibalize a completed set for specific specimens (then reselling the undesired pieces). Many of the 91 Hawaiiana related items are commanding premium prices as these specialist are becoming aware that cannibalization is time consuming/costly and desired dispersed specimens appear infrequently. I've identified a few Hawaiiana related Franklin Mint specimens at my blog http://thehawaiiananumismatist.com/ |
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Pillar of the Community
1751 Posts |
It's still there. They're trying to tear it down to build a development of townhomes, condo's, offices and shops. No more than 20 minutes from where I've lived my whole life.
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Valued Member
Canada
458 Posts |
my wife thinks her dad collection of franklin mint silver is a good investment and doesn't believe me that they are only worth as junk silver.
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Pillar of the Community
United States
7390 Posts |
Well silver is silver so in that respect it plays the spot game in terms of investment but as to premiums there has to be a resurgence of collecting FM sets. It has to become "hip" again so to speak.
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Moderator
United States
189767 Posts |
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Rest in Peace
United States
17900 Posts |
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Pillar of the Community
Canada
5255 Posts |
When I went to the ANA in Philadelphia in 2012, the Franklin mint had a large section. They gave away some delicious chocolates, called, appropriately, "Franklin mints". |
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Bedrock of the Community
United States
94367 Posts |
Just a great thread, really enjoyed it - thanks everyone.
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Pillar of the Community
United States
5212 Posts |
The Franklin Mint was HSN and their other knockoffs before the age of cable (now satellite) television.
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CCF Advertiser
United States
1533 Posts |
When a series is released with a ton of marketing that is when demand is at the highest. They will keep minting until demand is satisfied. When you go to sell, there would always have been less demand, perhaps none and people felt they got scammed.
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Replies: 18 / Views: 15,447 |
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Posted 06/14/2013 7:52 pm
