Can I sell my silver medals collection for more than its silver melt value?

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A common misconception surrounds the value of Franklin Mint silver collections. Many believe these items possess a value beyond their precious metals value, attributing to them a rarity or collectible premium that, in reality, seldom exists. This discussion aims to shed light on the intrinsic and market values of Franklin Mint silver, providing a grounded perspective on what sellers can realistically expect.

What is Franklin Mint Silver?

Franklin Mint has a storied history as a private mint known for producing collectibles, art, and memorabilia, with a significant portion of its offerings in silver. Founded in the mid-20th century, it gained fame for its intricate and themed silver sets, ranging from commemorative coins to decorative plates. However, despite the initial allure, the reality today is that the value of these pieces is rooted more in their metal content than in any collectible appeal.

The collecting world witnessed a similar phenomenon with Beanie Babies. Once a fervent hobby with items fetching thousands, the craze has significantly waned. The decline in Beanie Babies' popularity mirrors the depreciating interest and values in other collectibles, including Franklin Mint silver, emphasizing the volatile nature of such investments.

Market Dynamics

The market for Franklin Mint and similar collectibles is influenced by a variety of economic factors. The perception of value in the collectibles market is often subjective, with prices heavily dependent on current trends, demand, and the broader economic environment. For Franklin Mint silver, the market has seen a considerable downturn, with interest largely subsiding over the years. This shift reflects a broader trend away from traditional collectibles, impacting prices and demand.

Sellers should also know the facts:
1) Sterling silver is not pure silver. The 'silver price' in the newspaper is for pure silver. Sterling is 92% - so buyers must deduct for this fact. Most limited edition medals sets by Franklin Mint, Danbury Mint and others are made from sterling silver, not 999 pure silver. Of course, for sets made of 999 pure silver, no deduction is made.

2) Many people think they have more weight than they actually do - an ounce of silver is a troy ounce, which contains 31.1 grams. If you weigh a set on a bathroom or kitchen scale, the weight you get is a 'standard' ounce, or 28.5 grams. This is a 10% mistake in the weight. This is a common mistake novice sellers make.

Contrary to typical market drivers such as grade, rarity, and demand, the value of Franklin Mint silver collections is solely determined by their silver content. The notion of a thriving market for these items is, for the most part, a relic of the past. Today, the collectible aspect of Franklin Mint silver does not command a premium, rendering the market essentially inert.

Does Anybody Buy Franklin Mint Silver Today?

Despite the downturn in the collector's market, there are still avenues for selling Franklin Mint silver. Online platforms, such as 2nd Markets of Nashville, Tennessee, offer a buyer for these items, focusing on their metala value. Additionally, local pawn shops might show interest, particularly for the silver content. This highlights that while the collector's market may have diminished, the intrinsic value of the silver itself retains appeal.

It's crucial for sellers to remember that Franklin Mint silver remains valuable for its silver content.

Learn More About the Value of Your Franklin Mint Silver

iGuide’s Franklin Mint price guide is a good place to find the pricing information about your Franklin Mint silver and its current value. Learn more.