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Is the US Mint becoming the next Franklin Mint?

Started by Zoins,

11 posts in this topic

Zoins

Zoins

Posted
Posted

After the US Mint stopped making commems, Heraldic Art and the National Commemorative Society (NCS) showed up on the scene and took over where the US Mint left off. NCS was a precursor for the Franklin Mint which expanded it's efforts to include large numbers of multi-coin/medal thematic sets. The coins were typically minted under the authority of small countries (similar to how Jamaica outsources some coins to the Royal Mint today). With the new Presidential and First Ladies series, do you think we are starting to see the US Mint learn from the Franklin Mint and is this a sign of things to come?

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BillJones

BillJones

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The U.S. mint would do well to look what happened to the Franklin Mint. The company issued so many items that did not hold their value that they finally turned off their customer base. The U.S. mint is headed in that direction.

 

The mint has the huge advantage because they are a government agency that has the exclusive right to issue U.S. coins. Since there are many collectors who are determined to keep up with everything, that provides the mint with a strong base. But even that customer base will get tired or tapped out finanacially after a while.

 

This latest series of $10 gold coins with First Ladies on them is the end of the line for me. I have tried to keep up with the modern commemorative series, but the cost of these pieces is just too much. There are many older coins that I want, and devoting those funds to this First Lady series is just not possible.

 

I wish that the U.S. Congress could get it through their heads that this is just too much. Like the Atlanta Olympic set, the mintages are going to be low for some items because of a lack of initial collector demand. But in the long run I see this First Lady's series as something like the platinum coins. Their mintages are low, but the number of collectors who want them will be even less.

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DC Dawg

DC Dawg

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The U.S. mint would do well to look what happened to the Franklin Mint. The company issued so many items that did not hold their value that they finally turned off their customer base. The U.S. mint is headed in that direction.

Sort of like the Royal Canadian Mint? poke2.gif

 

Scott hi.gif

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TJ'S Coins

TJ'S Coins

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The U.S. mint would do well to look what happened to the Franklin Mint. The company issued so many items that did not hold their value that they finally turned off their customer base. The U.S. mint is headed in that direction.

 

The mint has the huge advantage that they are a government agency that has the exclusive right to issue U.S. coins. Since there are many collectors who are determined to keep up with everything, that provides the mint with a strong base. But even that customer base will get tired or tapped out finanacially after a while.

 

This latest series of $10 gold coins with First Ladies on them is the end of the line for me. I have tried to keep up with the modern commemorative series, the cost of these pieces is just too much. There are many older coins that I want, and devoting those funds to this First Lady series is just no possible.

 

I wish that the U.S. Congress could get it through their heads that this is just too much. Like the Atlanta Olympic set, the mintages are going to be low for some items because of a lake of initial collector demand. But in the long run I see this First Lady's series as something like the platinum coins. They mintages are low, but the number of collectors who want them will be even less.

 

Well said! thumbsup2.gif I reflects my sentiments as we enter the presidential series. The first ladies are a nice group to honor but I cannot see myself investing money into that series when there are so many older coins to collect.

 

Does anyone know if the presidential coins will be included in the mint and proof sets? Obviously the First Lady coins will not but aren't the presidents to be circulating coins along with the Sac dollar?

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Oldtrader3

Oldtrader3

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Hear the large swoosh of money leaving the hobby and pouring into the U.S. Treasury coffers for all these Commems. That is my objection to all the new special issues is that they are syphoning off a large percentage of funds that would be spent in the hobby. The gold Buffalos took something like $30 million out of the hobby.

 

Plus, as Greg said, they could learn about quality from the Franklin Mint!

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Zoins

Zoins

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Hear the large swoosh of money leaving the hobby and pouring into the U.S. Treasury coffers for all these Commems. That is my objection to all the new special issues is that they are syphoning off a large percentage of funds that would be spent in the hobby. The gold Buffalos took something like $30 million out of the hobby.
That's not necessarily true. If someone spent money they were otherwise going to spend on coins on say alloy wheels for their car, that would be a loss for the hobby but aren't AGBs considered $50 coins? Also, the money people spent on AGBs may have been redirected from non-coin related activities, say purchasing AGBs instead of alloy wheels, meaning a net inflow of funds into coins. What definition of hobby are you using that excludes AGBs? Some people exclude everything purchased directly from the US Mint and only consider things found in circulation and from banks. Other people exclude coins showcasing dead people while still others exclude NCLT. How do you define the hobby?
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