Hi, I've inherited from my grandfather, a collection of these medals. Besides the medals I only have a handful of official mailed letters from the Franklin Mint to him. According to the letter this collection is 24k gold electroplated on pure solid sterling silver (.925 fine). 38 in total. According to one of the letters is the Gerald Ford medal which cost him $30. $30 in 1974 had the buying power of $153.93 to this time in date. All in all, is there any value to this whole set? Should I take it to a coin collecting shop as there are quite a few in my area? Should I just hang on if value will go up if any? I'm hoping they are so I can sell and put the money in my 2 kids savings funds.
I would attach a picture but my only way of posting on here is from my smartphone. Which won't allow me to post a picture.
This set's listed on ebay for $2495 OBO. There's another listed for $1k less OBO and I didn't see any sold right off so I don't know what it would actually go for.
In Memory of Crazyb0 12-26-1951 to 7-27-2020 In Memory of Tootallious 3-31-1964 to 4-15-2020 In Memory of T-BOP 10-12-1949 to 1-19-2024
I guess if that sounds like a good savings start, then sell it but I think personally I would keep it and there's no way of predicting if it will actually sell for that.
Edit: Just for silver melt content the set is worth about $740 currently.
In Memory of Crazyb0 12-26-1951 to 7-27-2020 In Memory of Tootallious 3-31-1964 to 4-15-2020 In Memory of T-BOP 10-12-1949 to 1-19-2024
Seeing how the one medal purchase price was at $30 in 1974. I was hoping and expecting they were valuable and worth more now. Didnt know if very limited sets were made and if they are in demand to any collectors, etc. I think I might just hold on to them if $1495 is all they might sell at. Thanks.
Quote: ... $30 in 1974 had the buying power of $153.93 to this time in date ...
I have reservations about these sorts of calculations.
The price of many common items has increased 10X since 1974.
U$D 30 * 38 (no S/H charges? no sales tax?) = U$D 1140
U$D 1140 in a very safe 5% investment (common through most of that period), through the magic of compound interest, would be worth (pre-tax) well over U$D 9,000 today.
The investment meme must die!
But the entertainment meme lives.
Owning these coins cost an average foregone income of U$D 190 per year ... how much did you spend on movies?
Regardless of "buying power", sets like these are sold for quite a bit over melt value. That's why there's a discrepancy. I'm not an expert and don't know how many were minted and how many collectors would be interested, but holding on to them would be a good idea because I don't see that one listed going for $1500.
Who knows? Silver has been a lot higher (and lower ) than it is right now.
In Memory of Crazyb0 12-26-1951 to 7-27-2020 In Memory of Tootallious 3-31-1964 to 4-15-2020 In Memory of T-BOP 10-12-1949 to 1-19-2024
In general Franklin Mint items have little after market interest. Mostly aimed at grandparents to buy for grand kids kind of thing. Hang on to them till silver goes way up then sell,IMHO. John 1 Forgot to you to CCF.
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Posted 01/15/2017 11:26 pm
) than it is right now.
you to CCF.
