Why is it "junk"? Some of the Franklin mint stuff is by far more artistic than anything the mint has ever dreamed of. If you want to be helpful, let him know that most of it can be had for VERY close to melt. That will make him enjoy it more.
For the record, I consider error coins for the most part to be "crap"
<< <i>Why is it "junk"? Some of the Franklin mint stuff is by far more artistic than anything the mint has ever dreamed of. If you want to be helpful, let him know that most of it can be had for VERY close to melt. That will make him enjoy it more. >>
It's not really junk but most of it can only be sold for melt value so it may make more sense to call it scrap rather than junk
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Well, Krause, the Standard Catalog of World Coins is finally starting to show a few of these a little respect. It's not much but many of these have been caught up in the huge increases in many world mint and proof sets from the last few decades.
I believe most of the demand is domestic or from the old colonial power associ- ated with the country. There is exploding demand for recent dated coinage in Europe, India, China, and probably Brazil. Collectors in these countries are also interested in former possessions. There is a burgeoning middle class growing up all over the world and many people are interested in coins. Newer coins can be quite elusive and never had any demand before.
Yes, there have been some rather big fights over some of the FM proof sets, with issue prices being exceeded in some case by multiples. I def. would not refer to these as "junk" or "scrap" when this occurs.
Love that Milled British (1830-1960) Well, just Love coins, period.
If he is a long time friend of yours it shouldbe easy to tell him that he should not buy that stuff. Be up front and honest just like a long time friend should be.
<< <i>Yes, there have been some rather big fights over some of the FM proof sets, with issue prices being exceeded in some case by multiples. I def. would not refer to these as "junk" or "scrap" when this occurs. >>
It's not a FM issue but one of the most dramatic increases was in the 1954 Indian proof set. This was considered junk back in the '90's and you couldn't give one away. This year it went from $50 to $1250. Some mint sets have done even better considering the lower cost and percent- age increase.
There are still a lot of great coins going begging and even some from the hottest countries. But the real opportunities are in the backwater coun- tries and the Franklin Mint made a lot of these coins with many of them still circulating today. Most have been replaced by lighter smaller coins and the older ones melted but they are still out there.
<< <i>Yes, there have been some rather big fights over some of the FM proof sets, with issue prices being exceeded in some case by multiples. I def. would not refer to these as "junk" or "scrap" when this occurs. >>
I find the FM products very intriguing, too. As they're the legitimate coinage for many smaller countries, they're destined IMO to attract real collectors--as they obviously already are, judging by eBay results. It's like anything. You have to show some discrimination in what you buy, and for how much, but I have a few of the proof sets and they are gorgeous. BTW, LOVE that airlines set. I'm not even into medals, but this is a true piece of nostalgia!
I collect many of the silver legal tender issues ( crown size, mostly 1970's and ealy 1980's) of various countries and have them slabbed too. I am quite happy.
I manage money. I earn money. I save money . I give away money. I collect money. I don’t love money . I do love the Lord God.
There have been lots of records getting set for Franklin Mint products in the last several months. There's still virtually no demand at all for some very very rare and highly desirable coins but the demand will arise even- tually because of the beauty and historical importance of the material.
Of more interest to the long term viability though is that this material, especially the more common silver items, have been getting melted by the ton in the last year and this destruction will only increase. It will all be the first stuff in the melting pot and it can't be stopped. In ten years even the least desirable coins like Bahamian silver proof sets will have surviving mintages under 2,000. The medals will fare worse.
<< <i>Given the run that silver has gone on since this thread first posted, the OP's friend may have done quite well for himself! >>
Wow. Craton wrote this thread in 2006 and he was referring to me. He was constantly telling me to stop buying that crap... That was about the beginning of my coin collecting interests. My father had given me 6 or 8 pieces of silver for Christmas in 2005. He just said... "stick these in your sock drawer and forget about them." A couple of the pieces were Franklin Mint U.N. Peace Medals. I quickly fell in love with silver and started buying up all the dates they produced those particular medals. I soon discovered all the other stuff they made and was buying pieces off ebay. I did finaly learn a thing or two and have moved on to more "distinguished silver"
I still do really like Franklin Mint Art... definitely some of the most beautiful modern silver out there. This 100 Greatest Masterpieces set is incredibly detailed...
See darkside post on Trinidad coin sets from Franklin Mint going very high and have been on a drive upward for some years with mulitple buyers. I am not selling....
Love that Milled British (1830-1960) Well, just Love coins, period.
<< <i>See darkside post on Trinidad coin sets from Franklin Mint going very high and have been on a drive upward for some years with mulitple buyers. I am not selling.... >>
There have been a couple darkside posts recently on FM coinage;
Some Franklin Mint products are attractive and well made. It all depends on your friends perspective, are they interested in a small display in a curio cabinet or an investment? Display may be nice, investment probably not so.
A search of eBay should show real world value best. I made money on a FM collection of silver I purchased on the secondary market a few years back, I just sold them for melt. The person I purchased them from also made a small fortune between what they paid for them at issue and what I paid them at melt.
While its a truly rare example with most FM items I wish I could go back 20 years and buy 25 sets of overpriced medals. I can think of a lot of worthless junk the U.S. mint has also sold since.
I recently purchased an FM Robert Frost set. Stunning quality. I'm a big believer in collecting what you like. I'm not in collecting to make money. Unfortunately, that seems to be a minority view these days.
"The only place success comes before work is in the dictionary."
<< <i>I recently purchased an FM Robert Frost set. Stunning quality. I'm a big believer in collecting what you like. I'm not in collecting to make money. Unfortunately, that seems to be a minority view these days. >>
PNG member, numismatic dealer since 1965. Operates a retail store, also has exhibited at over 1000 shows. 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.
Comments
I am actually slabbing a few.
I give away money. I collect money.
I don’t love money . I do love the Lord God.
For the record, I consider error coins for the most part to be "crap"
<< <i>Why is it "junk"? Some of the Franklin mint stuff is by far more artistic than anything the mint has ever dreamed of. If you want to be helpful, let him know that most of it can be had for VERY close to melt. That will make him enjoy it more. >>
It's not really junk but most of it can only be sold for melt value so it may make more sense to call it scrap rather than junk
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
a few of these a little respect. It's not much but many of these have been caught
up in the huge increases in many world mint and proof sets from the last few
decades.
I believe most of the demand is domestic or from the old colonial power associ-
ated with the country. There is exploding demand for recent dated coinage in
Europe, India, China, and probably Brazil. Collectors in these countries are also
interested in former possessions. There is a burgeoning middle class growing
up all over the world and many people are interested in coins. Newer coins can
be quite elusive and never had any demand before.
I believe this is still just a beginning.
Well, just Love coins, period.
<< <i>Yes, there have been some rather big fights over some of the FM proof sets, with issue prices being exceeded in some case by multiples. I def. would not refer to these as "junk" or "scrap" when this occurs. >>
It's not a FM issue but one of the most dramatic increases was in the
1954 Indian proof set. This was considered junk back in the '90's and
you couldn't give one away. This year it went from $50 to $1250. Some
mint sets have done even better considering the lower cost and percent-
age increase.
There are still a lot of great coins going begging and even some from the
hottest countries. But the real opportunities are in the backwater coun-
tries and the Franklin Mint made a lot of these coins with many of them
still circulating today. Most have been replaced by lighter smaller coins
and the older ones melted but they are still out there.
The crap the US Mint is putting out these days makes the FM look better all the time...
Collect what you like and if it's FM do it on the secondary market on the cheep and look for up coming sleepers as CK suggests...
I purchased a whole collection of Bronze Metals from the FM at a coin show and was set back by the quality/detail of the engraving...
On the 30 piece set I'm into it at $60 and there all in air tights ( .80c ea ) to boot, so I think I did well...
Here are my two favorites, the detail is amazing in hand...
Collect what you like but be smart about it...
Currently Listed: Nothing
Take Care, Dave
<< <i>Yes, there have been some rather big fights over some of the FM proof sets, with issue prices being exceeded in some case by multiples. I def. would not refer to these as "junk" or "scrap" when this occurs. >>
I find the FM products very intriguing, too. As they're the legitimate coinage for many smaller countries, they're destined IMO to attract real collectors--as they obviously already are, judging by eBay results. It's like anything. You have to show some discrimination in what you buy, and for how much, but I have a few of the proof sets and they are gorgeous. BTW, LOVE that airlines set. I'm not even into medals, but this is a true piece of nostalgia!
I give away money. I collect money.
I don’t love money . I do love the Lord God.
<< <i>1985 Panama proof set, courtesy of the Franklin Mint, without the huge 20 balboa sold for 265 on the 'bay this week. Not bad.... >>
I own the huge 20 balboa in proof, beautiful coin ....a mintage of several hundred.
I give away money. I collect money.
I don’t love money . I do love the Lord God.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Print out a couple of pages, and show them to him.
In all likelihood, you won't have to say another word.
A Truth That's Told With Bad Intent
Beats All The Lies You Can Invent
<< <i>ttt >>
There have been lots of records getting set for Franklin Mint products in
the last several months. There's still virtually no demand at all for some
very very rare and highly desirable coins but the demand will arise even-
tually because of the beauty and historical importance of the material.
Of more interest to the long term viability though is that this material,
especially the more common silver items, have been getting melted by
the ton in the last year and this destruction will only increase. It will
all be the first stuff in the melting pot and it can't be stopped. In ten
years even the least desirable coins like Bahamian silver proof sets will
have surviving mintages under 2,000. The medals will fare worse.
History always has a way to repeat itself.
<< <i>Given the run that silver has gone on since this thread first posted, the OP's friend may have done quite well for himself! >>
Wow. Craton wrote this thread in 2006 and he was referring to me.
That was about the beginning of my coin collecting interests.
My father had given me 6 or 8 pieces of silver for Christmas in 2005. He just said... "stick these in your sock drawer and forget about them."
A couple of the pieces were Franklin Mint U.N. Peace Medals. I quickly fell in love with silver and started buying up all the dates they produced
those particular medals. I soon discovered all the other stuff they made and was buying pieces off ebay. I did finaly learn a thing or two and
have moved on to more "distinguished silver"
I still do really like Franklin Mint Art... definitely some of the most beautiful modern silver out there.
This 100 Greatest Masterpieces set is incredibly detailed...
Click on this link to see my ebay listings.
Well, just Love coins, period.
<< <i>See darkside post on Trinidad coin sets from Franklin Mint going very high and have been on a drive upward for some years with mulitple buyers. I am not selling.... >>
There have been a couple darkside posts recently on FM coinage;
link deleted
A search of eBay should show real world value best. I made money on a FM collection of silver I purchased on the secondary market a few years back, I just sold them for melt. The person I purchased them from also made a small fortune between what they paid for them at issue and what I paid them at melt.
While its a truly rare example with most FM items I wish I could go back 20 years and buy 25 sets of overpriced medals. I can think of a lot of worthless junk the U.S. mint has also sold since.
I recently purchased an FM Robert Frost set. Stunning quality. I'm a big believer in collecting what you like. I'm not in collecting to make money. Unfortunately, that seems to be a minority view these days.
"The only place success comes before work is in the dictionary."
~ Vince Lombardi
<< <i>I recently purchased an FM Robert Frost set. Stunning quality. I'm a big believer in collecting what you like. I'm not in collecting to make money. Unfortunately, that seems to be a minority view these days. >>
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