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Thoughts On Franklin Mint World Coins

 
 
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New Member

United States
18 Posts
 Posted 07/22/2019  5:01 pm Show Profile   Bookmark this topic Add CoinsInVT to your friends list Get a Link to this Message
Hello all.

I'm curious what people's thoughts are about low-mintage world coins produced by the Franklin Mint. For example, the 1970 Jamaica 5 cent coin with a mintage of only 5000. I know these and other coins like it were contracted by their respective country (Panama, Belize, Bahamas, Papua New Guinea, Cuba) to be used as legal tender. From what I understand, however, most were really only used as collector pieces and saw very little circulation. Is there numismatic value here, or only value as low-mintage novelty?
Valued Member
United States
219 Posts
 Posted 07/22/2019  6:25 pm  Show Profile   Check beem's eBay Listings Bookmark this reply Add beem to your friends list Get a Link to this Reply
In some cases there is absolutely numismatic value for these coins. A few good pick-ups, too, IMHO.
Bedrock of the Community
Australia
15632 Posts
 Posted 07/22/2019  7:12 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
The demise of the Franklin Mint illustrates what could happen with any mint that over produces with 'bright 'n shiny' NCLT, NIFC coins for the collector market.

There have been a few threads here in the CCF that have criticized the RCM and the RAM for over production of high quality coins, commemorating relatively frivoulus subjects.

Rare coins, of many different relatively insignificant commemorative subjects,
minted in low numbers, that are sold on the secondary collector market, for not much above melt.

I have Franklin Mint coins of Pacific Island countries in standard metals,
that have mintage numbers in the hundreds, and are correctly priced in Krause for $10 or less.
Bedrock of the Community
Learn More...
United States
12485 Posts
 Posted 07/22/2019  7:59 pm  Show Profile   Bookmark this reply Add Spence to your friends list Get a Link to this Reply

Quote:
Is there numismatic value here, or only value as low-mintage novelty?


My personal opinion is probably neither, but rather intrinsic bullion value only. I'm not a huge fan of the Franklin Mint's products.
"The danger we all now face is distinguishing between what is authentic and what is performed."
-----King Adz
Bedrock of the Community
United States
16331 Posts
 Posted 07/22/2019  8:03 pm  Show Profile   Bookmark this reply Add moxking to your friends list Get a Link to this Reply
Thankfully you can choose any coins, tokens,medals, or currency, or any combination, any way YOU decide.

There really is no right or wrong as long as you enjoy the process. If you love those NCLT coins, grab them.

Most of us collect to learn. Perhaps we hope to break even monetarily. But beyond that, it should be fun.
Valued Member
United States
219 Posts
 Posted 07/22/2019  8:16 pm  Show Profile   Check beem's eBay Listings Bookmark this reply Add beem to your friends list Get a Link to this Reply

Quote:
I have Franklin Mint coins of Pacific Island countries in standard metals, that have mintage numbers in the hundreds, and are correctly priced in Krause for $10 or less.


Supply is only half the equation. My most watched coin on ebay at the moment is one minted by the Franklin Mint, out of 25 coins, and it's priced well over its gold value. Like I said earlier, in some cases they will have some numismatic value. Easy example off the top of my head; 1977 or 1979 Liberia $5 coins, Panama 1977 or 1980 100 Balboas.
Pillar of the Community
United States
731 Posts
 Posted 07/22/2019  10:31 pm  Show Profile   Bookmark this reply Add Kushanshah to your friends list Get a Link to this Reply

Quote:
I know these and other coins like it were contracted by their respective country (Panama, Belize, Bahamas, Papua New Guinea, Cuba) to be used as legal tender.


This might be better stated as "officially licensed" in the same sense that Disney might license the image of Mickey Mouse for one consumer product or another. In some instances, yes, smaller countries will contract with private mints to produce coins for circulation. However, in many cases it's private mints seeking governments willing to license their country name and "legal tender" status for exclusive limited-edition collectibles. "Legal tender" has a very narrow legal definition and does not necessarily mean that these limited-edition coins will be accepted in commerce or for deposit with banks.
Edited by Kushanshah
07/22/2019 10:56 pm
Pillar of the Community
Australia
1378 Posts
 Posted 07/27/2019  9:43 pm  Show Profile   Bookmark this reply Add Mr T to your friends list Get a Link to this Reply
To complete the set you need those coins, and some are exceedingly low mintage unfortunately.
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