What's something like this worth? 50 - 1000 grain silver bars in a complete set

nesvt

Not exactly "US Coins", but I am wondering what people think they are worth.
I can do the math... 50 sterling silver bars at 1000 grains each.
50 * 1000 = 50,000 total grains
50,000 / 480 = 104.1667 troy ounces
104.1667 * 0.925 = 96.3542 adjust sterling silver to 100% pure

They are a complete set from the Franklin Mint. One 1000 grain bar for each state. The bars are dated 1971 and numbered 1 through 50. They have sterling hallmarks on one side. Kind of a cameo appearance. Each bar has a local bank name and logo on one side, and the Franklin name and logo on the other.
They lay inside a felt box fitted for the bars, covered in a plastic layer, and then covered in a felt pad.
Wooden box is about 24" x 9 1/8" x 2 3/4".

They've got to be worth more than melt, right? I see single bars for sale on eBay, but have never seen a complete set... and have never seen the original box.

I need to dump them ASAP and was going to bring them to the local dealer in the morning. He's a nice guy, but he usually pays below melt for silver bars.

Your thoughts?

ScarsdaleCoin

they sell for melt, the bank set is not one of the more popular sets.... a local dealer paying 10% back of melt is not that unfair....after all he has to lay out the cash and then turn them... over the years I have sold several of these sets...complete....they are no big deal

TomB

I would not even pay melt for such a set.

adamlaneus

Is there anything that the Franklin Mint makes that has a decent value?

I have a bicentennial set of 50 sterling medals that i'll probably never sell, as my Granddad gave it to me and it is 'titled' to me on the first page in his handwriting.

I see on eBay that it is worth the silver, barely.

I think that the Franklin Mint is contracted to make those Cook Islands 'Weenie' coins.

So...in the name of education...what other things should I know about the Franklin Mint?

Smittys

actually refineries only pay 88% of melt for sterling so look for a dealer to pay less

291fifth

Make sure you sell the set by ACTUAL weight. Franklin Mint sterling silver sets tended to be slightly overweight due to their guarantee of a minimum amount of silver in each bar.

MadMarty

<< <i>

I think that the Franklin Mint is contracted to make those Cook Islands 'Weenie' coins.

>>



Only for a few years, other years were made by the Austraila Mint. Plus the FM weenies are copper/nickel not silver.

nesvt

Thanks everyone. They're actually my wife's. She isn't going to be happy, but what else is new.




<< <i>Make sure you sell the set by ACTUAL weight. Franklin Mint sterling silver sets tended to be slightly overweight due to their guarantee of a minimum amount of silver in each bar. >>



Can I include the wooden box? It's pretty heavy. Seriously, thanks for mentioning the weight. I checked two bars and they each weigh 2.12 troy oz... I expected 2.08.

silvereagleproof

It depends who you ask, I think it is a great set and if I were buying I would pay a lot more than melt. Don't just listen to the silver hate mongers.

BECOKA

<< <i>Thanks everyone. They're actually my wife's. She isn't going to be happy, but what else is new.




<< <i>Make sure you sell the set by ACTUAL weight. Franklin Mint sterling silver sets tended to be slightly overweight due to their guarantee of a minimum amount of silver in each bar. >>



Can I include the wooden box? It's pretty heavy. Seriously, thanks for mentioning the weight. I checked two bars and they each weigh 2.12 troy oz... I expected 2.08. >>



Well all things considered Silver was at $6 just 3 years ago. It's at $17 now. Even at 10% back of bid that is a much better deal than you would have gotten not too long ago.

PerryHall

<< <i>It depends who you ask, I think it is a great set and if I were buying I would pay a lot more than melt. Don't just listen to the silver hate mongers. >>



Dealers don't hate silver. They just hate overpaying for silver.