Sell Franklin Mint Sets for More When You Follow These Guidelines

November 13, 2011 · Posted in Business 

If you’re like a number of folks, you may have got caught up in the craze of buying and collecting Franklin Mint sterling silver coins, medals, and ingots from the 1970′s, 1980′s, and 1990′s that you’re now interested in selling. Alternatively, you may have received Franklin Mint silver coin, medal, or ingot collections from an inheritance or an estate that are collecting dust that you would like to sell.

Alternatively, you may have received Franklin Mint collections from an estate or as an inheritance, as these sets were prevalent two to three decades ago. If you find yourself in one of these situations, or have received Franklin Mint sets in some other manner, we recommend that you read the following guidelines to receive the most when you sell your Franklin Mint set to a silver dealer.

Before we go into depth on some guidelines, it’s to your benefit to know that the price of silver has appreciated considerably over the past few years. In fact, the price of silver has increased by 300% since early 2009, making it an ideal time to sell your Franklin Mint silver medal, coin, or ingot collection.

Another fact you may not be aware of is that Franklin Mint sets were minted in fairly high quantities due to the relatively low price of silver when most of these sterling silver coin sets were produced. As such, there’s typically very little collectible value associated with these silver medals, ingots, and coins. Furthermore, it’s important to know that most Franklin Mint silver coin sets are composed of sterling silver (which consists of silver and copper) as opposed to pure fine silver, making them slightly less desirable than some of the silver coins that consist of .999 fine silver.

Now that you’ve established realistic expectations, the next step is trying to find a reputable local coin dealer or online coin dealer to whom you can sell your coins, bars, or medals online. When researching companies, make sure that you only consider “A” rated accredited members of the Better Business Bureau that have no outstanding complaints, and have been in business for a year or longer. This is a sufficient time period to establish a reputation in the industry.

Once you’ve checked the reputation of the silver coin buyer with the BBB, we recommend that you do a general search of the silver buyer online to determine what type of reviews they’ve had. Just because they’re in good standing with the Better Business Bureau doesn’t mean that their prior customers are happy with their experience. A pattern of negative reviews should raise a red flag.

If the silver coin dealer or online coin dealer has passed the muster to this point, we recommend that you do a general search of the coin dealer’s website to determine if they appear to be a customer-service focused or oriented company. The website should be clear, easy to navigate, and provide helpful information or educational resources to help you in your decision making process.

Once you’ve selected a silver coin buyer, be sure that you clearly understand the price that you’re being offered. When you sell your Franklin Mint collection, you should expect to receive a price per coin, medal, ingot or round as opposed to a price per gram or pennyweight, which can be extremely confusing – especially if you’re not accustomed to selling precious metals.

Lastly, if you decide to sell your Franklin Mint sterling silver collection to an online coin dealer, which is becoming more and more prevalent these days, the coin dealer should be willing to lock in a price for you so that you don’t run the risk of potentially receiving substantially less in the event the price of silver drops dramatically while in route to the silver coin buyer.

Hopefully you’ve found the above article helpful, and are now properly armed to receive the most when you decide to sell your Franklin Mint silver collection.

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