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.
Initially, if you don’t closely monitor the silver market, you may be pleasantly surprised to learn that the price of silver has increased threefold over the past three years, making it an excellent time to sell your Franklin Mint silver collection to a silver coin buyer.
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 hopefully established some realistic expectations for your Franklin Mint collection, the next step is to find a well-established reputable silver coin buyer to whom to sell your Franklin Mint silver collection. We recommend that you only consider doing business with a silver dealer that is an affiliated member of the BBB in good standing. The rating or reputation of the silver coin dealer can be checked on the BBB’s website. A history of claims or complaints should raise a red flag.
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 you’ve come this far and are still comfortable with the silver coin dealer to whom you’re considering selling your Franklin Mint set, check the website of the coin dealer to get a better idea of their approach to conducting business. Are they customer service oriented and do they appear to put the interests of their customers ahead of their own? If you don’t get the sense that this is the case, you may want to consider selling your Franklin Mint silver collection to another dealer.
Furthermore, whether the quote that you receive for your Franklin Mint set is over the phone, in person, or online, it should be a straightforward price that is easy to understand. If the silver coin dealer provides you with a quote based on pennyweights, grams, or some other basis that isn’t easy to understand, consider moving on. The quote provided should be provided on a per silver coin, medal, or ingot basis, or for the collection as a whole.
Also, if you have selected a coin dealer from out of town or out of state, and will be shipping your collection, make sure that the silver coin dealer is willing to lock in a rate for you. You don’t want to run the risk of the price of silver dropping while your set is in route, which could end up costing you hundreds of dollars.
We hope that the above guidelines have helped in identifying how to sell your Franklin Mint collection, and to whom you should consider selling your sterling silver set. We wish you the best of luck!
Want to find out more about how to sell Franklin Mint sets for more, then visit Atlanta Gold and Coin Buyers’ site on how to choose the best silver coin dealer when you sell Franklin Mint collections.