The purpose of this article is to help you to receive the best price when you sell your Franklin Mint set. As you may recall, Franklin Mint silver coin, medal, and ingot collections were prevalent in the decades of the 70’s, 80’s, and 90’s, so it’s likely that you have a Franklin Mint collection or two from this era, or have received Franklin Mint sets from an inheritance or an estate that you’re interested in selling.
Regardless of how you happened to come across your Franklin Mint silver coin collection, taking heed to the following guidelines and tips should help you to receive more money when you sell your Franklin Mint silver coin collection to a silver coin buyer.
First and foremost, if you haven’t been following the precious metals market in recent years, and in particular the silver market, you might be surprised to find out that the price of silver has tripled over the past three years, making this an ideal time to sell your Franklin Mint set. The increase in the price of silver is as a result of several factors, all of which have created a perfect storm for an unbelievably performing precious metals market.
Considering that the price of silver was relatively low when most Franklin Mint sets were minted, it’s more common than not to find a relatively high mintage of most sterling silver sets. The high mintage of most of these sets unfortunately works against the seller, as there’s very little collectible value with these sets. In other words, since they’re fairly common, it’s unrealistic to expect a premium when you sell your Franklin Mint silver coin, medal, or ingot collection. Furthermore, Franklin Mint sets are generally composed of sterling silver (typically a combination of silver and copper) as opposed to pure silver, which is in less demand.
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 determined that the coin buyer you’re considering is in good standing with the Better Business Bureau, the next step is to do a general internet search to determine what type of experience previous customers have had. Ideally, you’d like to at least see a couple of reviews or testimonials from prior customers sharing their opinions. Needless to say, a track record of negative reviews should raise a red flag.
Our next recommended step is to visit and search the website of the silver dealer to get a better idea of the company’s philosophy and dedication to their customers. If you get the sense that the coin dealer doesn’t have its customer’s best interests at heart, then you’re likely best looking elsewhere. In general, family owned and operated coin dealerships are relationship based companies and are more likely to assist with any questions that you might have.
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.
If you have decided to do business with an online coin dealer, or coin dealer located outside of your general area, they should be willing to lock in a rate for you. This is important, as there’s a chance that the price of silver could drop between the time you ship your Franklin Mint silver collection and the time it’s received by the coin dealer, potentially costing you a substantial amount of money.
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!