So after doing some more research, I came up with an engravers name. David Cornell is a guy who worked briefly for the Franklin Mint or some company associated with the FM at that time. I looked him up on the net and found his email. I sent him the photos and this is his reply.
"Thank you for sending the images of the Franklin medal.
It is a complete mystery. Although I went to the State in February 1968 and this looks like my signature and it looks clearly like a Franklin Mint medal, I didn't do it. I have a catalogue of Franklin Mint medals of that period and it isn't in there. The only tokens they produced at that time were for casinos and it is clearly not one of these.
The title of this coin is listed in their catalogue but that was in 1972 but no picture.
Although this has the Franklin Mint sign on it, Franklin Mint were only producing proof silver medals at that time. It is very strange. What metal is your medal, it doesn't look like silver proof and what size? This would have also been issued with some literature. There were no other sculptors working at the mint with a similar name either!
Sorry I cant be of any more help but as I say it is a mystery to me!"