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How do you tell a friend NOT to collect Franklin Mint products?
Craton
Posts: 2,670
My long time friend recieved a large amount of silver from his father last year. Most of it is Franklin mint type stuff. He is getting interested in collecting and has been doing some small time purchasing of the same type of items. How do I go about telling him that the stuff is JUNK and that he should focus on U.S. Mint products or at least any other REAL countries mint products. Obviously I could tell him that the stuff is junk and that he will over pay and the stuff won't realize profit potential like US mint coinage would but I'd like to be able to really give him some good info instead of just saying "Your stuff is crap".
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People are free to collect whatever they like provided that it’s legal to own it. And now that the Franklin Mint marketing blitz is over, a lot of the stuff can be purchased for around melt if you look for it at the shows. In a way your friend would be betting on the future price of silver if he starts “investing” in Franklin Mint.
Still you could tell him that most Franklin Mint items have no large collector following, and most of the stuff is only with melt. If he still wants it after you tell him that, he should be free to buy what he wants.
of course if he really just likes it, who's to blame him? There is no accounting for bad taste!
<< <i>Still you could tell him that most Franklin Mint items have no large collector following, and most of the stuff is only with melt. If he still wants it after you tell him that, he should be free to buy what he wants. >>
I would just like to give him good advice and don't want to see him end up with a closet full of franklin mint items with huge dreams of it being worth more then melt.
Liberty: Parent of Science & Industry
It seems there may be a sentimental reason which you, I nor anyone else can put a value on but him.
On the other hand if he is "investing" in these collectibles, then using the internet, eBay etc. will surely give him an idea as to the value of these items.
In addition, everything is not Junk or Crap just because it doesn't fit someone elses view of what is valuable and what it may be worth later on. For some, this is not an issue.
Joe.
<< <i>Did you ask him why he is buying Franklin Mint products?
It seems there may be a sentimental reason which you, I nor anyone else can put a value on but him.
On the other hand if he is "investing" in these collectibles, then using the internet, eBay etc. will surely give him an idea as to the value of these items.
In addition, everything is not Junk or Crap just because it doesn't fit someone elses view of what is valuable and what it may be worth later on. For some, this is not an issue.
Joe. >>
He is indeed investing.
Edited to add: When his father gave him his gift of Franklin Mint items he said to him "You will be able to put your daughter through college with this some day" ........
Bottom line, buy what you like, don't pay too much, don't expect too much, and enjoy the hobby.
<< <i>Edited to add: When his father gave him his gift of Franklin Mint items he said to him "You will be able to put your daughter through college with this some day" ........ >>
Yea, the Hunt Brothers try to fool with silver market again, and his timing is perfect.
Seriously his father was WAY OFF on that one. As a collectable, it's hard to think of anything that is as dead as Franklin mint material. Many a couple hundred years from now they might become like Condor tokens, but I wouldn't bet on it.
If he wants to invest in something, tell him to get a good stock broker who can guide him into some funds. Coins and tokens are not investment items.
Many of the FM products are very high quality and were well executed and designed. Generally
this stuff is grossly underappreciated in terms of importance and most other attributes which con-
stitute value. Will he get rich or put his daughter through college by collecting it? Probably not.
Mintages of the medals is high and interest in the coins is low. There are lots of items though that
have a lot going for them and can be purchased for close to melt value. If you like to buy silver and
gold then there may be no better way to buy it. Just be sure you aren't overpaying or paying large
premiums for common items.
There are some of these coins like the Carribean gold that has no interest, tiny mintages, and huge
attrition. These can be beautiful designs of important subjects but they are being destroyed by their
issuers because they have very high face values. Some of these will exist only in the dozens someday
because of all the destruction and lack of any collector interest.
As far as discouraging him from INVESTING in FM products you can point out to him that today, some thirty years after much of the FM material was sold and with silver worth five times as much now as it was then, the FM material is still only worth about what it was originally sold for. So if it has taken thirty years to break even his daughter is going to be VERY old before she can go to college. If on the other hand he wants to buy them because he likes them and he can get them for not a lot over melt then why not collect them. The Fanklin Mint made some very attractive items and they are worth having smply because they are pretty. So collect yes, invest NO!
<< <i>by saying "Your stuff is crap". >>
I like the direct approach
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
<< <i>At one time the Franklin Mint produced proof coins for other nations, including some of Martys' weenie coins! >>
No thread is complete, without a mention of Marty's weenie...
Anyways, there are a few collectors out there that actively collect FM items... you never know.
Besides, if you can get them close to melt, it doesn't see like such a bad deal.
~g
I'd give you the world, just because...
Speak to me of loved ones, favorite places and things, loves lost and gained, tears shed for joy and sorrow, of when I see the sparkle in your eye ...
and the blackness when the dream dies, of lovers, fools, adventurers and kings while I sip my wine and contemplate the Chi.
<< <i>At one time the Franklin Mint produced proof coins for other nations, including some of Martys' weenie coins! >>
Yeah, for a lot of the "island" countries. Don't get me wrong, they used to make a quality product but I equate them to collectors plates that you might see hanging on "grandmas" wall.
Good idea!
More than 90% of FM products are pure crap and should be melted. However, the "good FM stuff" is one the greatest opportunities in numismatic investments. (See Cladking's comments, for starters.)
I'd suggest that your friend do some serious research before spending more money. When he understands the FM coinage better, he will be able to pick out the few issues that have a very bright future. Then, he should pursue the collection full steam ahead.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
you are not his mother or his ruler
as long as he does not pay much over melt for the silver issues and does not consider it an investment and he uses money thst is discretionary income and he does it as he likes it for history and collecting
the old fashioned way to make money is to go out and work for it
<< <i>he can collect what he wants to
you are not his mother or his ruler
as long as he does not pay much over melt for the silver issues and does not consider it an investment and he uses money thst is discretionary income and he does it as he likes it for history and collecting
the old fashioned way to make money is to go out and work for it >>
Maybe your Mother needs to teach you how to read better. As I stated in previous posts, he DOES consider it an investment.
It's all based on subjects such as buffalos,Lewis and Clark and Civil War.
I never expected to make money, it just pleases me to look at it.
Some of it has very high grade engraving. At least if the SHTF you've
got something to buy bread with.
....Tony....
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Worry is the interest you pay on a debt you may not owe.
Actually some early Franklin Mint stuff is very collectible. I believe the Franklin Mint apex was during the late 70s & early 80s. They made more than just coins. I have a great bronze medalion calendar from 1977 and the artwork and engraving is exquisite. In the day, the Franklin Mint had some very talented artists, IMO.
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Well, just Love coins, period.
<< <i>So what is the "Good FM Stuff"? >>
There's a difference between collectible and investment grade. But, when I was a kid they produced an out of this world chess set. It was way too much for me to buy, but it would certainly qualify as "good" in my dictionary. And I expect it has retained its value. I have at least one other proof coin in non-precious metal, which may have no investment value, but certainly pwnds anything the mint has produced lately. I will try to image it and post it later this week.
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<< <i>While most Franklin Mint stuff is worth no more than its bullion value, the U.S. mint products are no panacea either when it comes to increasing or even holding their value. While some modern Proof sets are worth more, sometimes a lot more than their issue prices, some others have turned out to be losers. AND if I were a betting man, I’d say that some Proof sets will go down in value once the State Quarter program ends a couple years from now.
People are free to collect whatever they like provided that it’s legal to own it. And now that the Franklin Mint marketing blitz is over, a lot of the stuff can be purchased for around melt if you look for it at the shows. In a way your friend would be betting on the future price of silver if he starts “investing” in Franklin Mint.
Still you could tell him that most Franklin Mint items have no large collector following, and most of the stuff is only with melt. If he still wants it after you tell him that, he should be free to buy what he wants. >>
Well said!!
JT
I collect all 20th century series except gold including those series that ended there.
<< <i>Don't Franklin Mint products come with "certificates of authenticity?", that should be enough to steer anyone away from whatever they sell. >>
Don't US Mint products come with COA's? So, what's your point?
Worry is the interest you pay on a debt you may not owe.
Hey bud, don't collect Franklin Mint products.
<< <i>he can collect what he wants to
you are not his mother or his ruler
as long as he does not pay much over melt for the silver issues and does not consider it an investment and he uses money thst is discretionary income and he does it as he likes it for history and collecting
the old fashioned way to make money is to go out and work for it >>
Collecting is a very personal hobby and often emotional. Most FM products today will not be prices ridiculously and therefore collecting what he wants is paramount.
I have often stated that the most important quality that a collector can have is enthusiasm for his collection.
Investment is another story. It is speculative to invest in any collectible item including numismatics, unless you are very sophisticated. Anyone who thinks that collectible investments are the same as liquid investments, such as bullion, stocks, or CD's is in for a shock.
Collectible investments are extremely sophisticated!
Long live the serious numismatist as he will almost certainly have superior financial results than will the speculative investor!!
I firmly believe in numismatics as the world's greatest hobby, but recognize that this is a luxury and without collectors, we can all spend/melt our collections/inventories.
eBaystore
As Julian points out, the premiums aren't going to hurt him and in this environment buying FM stuff at low premiums could very well be a good move from an investment standpoint.
And if he gets lonely, he can always visit the Precious Metals Forum. Alot of people seem to be into bars right now, and there would be plenty of common interest.
I knew it would happen.
that he Franklin Mint made will be destroyed. No doubt these are already
starting to show up in the melting pot.
You can wait until most are already gone and see if you can find any for sale
or start looking now when they are actually available.
We think of the many silver coins they made as being distressinly common
since mintages often approached and even exceeded 10,000. But some of
these had "circulating" counterparts and time has not always been kind to
these sets. To date the attrition hasn't been high on the sets except for a
few of the silver coins but this will be changing as well if silver continues high-
er. Large numbers of these sets will be broken up to melt the silver and many
of the other coins in the set will be mishandled. While a few thousand sets
are ample today how long will it be until the few remaining sets are somewhat
less than ample. Remember mintages are sometimes only in the hundreds
with these. Quality tends to be exceedingly good. They used the best artists
and coiners and put effort into packaging and marketing as well.
These are great collectibles and great collectibles often have a way of turning
into the greatest investments. I'd just tell my friend to go into it with his eyes
open with the knowledge that current demand is even lower that the often
tiny mintages. Look at the gold and the circulating coins. Look at the medals
and especially those made in smaller numbers. Watch what's getting melted
and be careful about paying significant premiums.
The best bet might be to just wish him good luck. At least that way if he's highly
successfull you won't feel as bad about missing out.
A: a wallop in the cranio-cervical junction with a fungo bat ought to convince them.
"Keep your malarkey filter in good operating order" -Walter Breen
<< <i>
<< <i>Don't Franklin Mint products come with "certificates of authenticity?", that should be enough to steer anyone away from whatever they sell. >>
Don't US Mint products come with COA's? So, what's your point? >>
I was trying to be amusing, I guess I missed the mark. My point is that most of their stuff is tasteless crap, made to be sold to the naive, like limited edition collector dolls, or John Wayne Bowie knives, however if you like it, have a ball!!!
<< <i>
I was trying to be amusing, I guess I missed the mark. My point is that most of their stuff is tasteless crap, made to be sold to the naive, like limited edition collector dolls, or John Wayne Bowie knives, however if you like it, have a ball!!! >>
This might apply to dolls or knives, I don't know.
But it hardly applies to superbly executed medallic sculpture in sterling silver.
It doesn't apply to all of the coinage either. The gold is my favorite but some
of the silver and cu/ ni pieces are exquisite or otherwise desirable as well.
<< <i>
<< <i>
I was trying to be amusing, I guess I missed the mark. My point is that most of their stuff is tasteless crap, made to be sold to the naive, like limited edition collector dolls, or John Wayne Bowie knives, however if you like it, have a ball!!! >>
This might apply to dolls or knives, I don't know.
But it hardly applies to superbly executed medallic sculpture in sterling silver.
It doesn't apply to all of the coinage either. The gold is my favorite but some
of the silver and cu/ ni pieces are exquisite or otherwise desirable as well. >>
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on Ebay and what they sell for at the Franklin Mint (apples to apples). Then explain
that the FM has to cover their huge advertising, and staff and that just pushes the
prices up beyond retail.
good luck,
bob
Well, just Love coins, period.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Well, just Love coins, period.