History of Franklin Mint Money
The Franklin Mint was founded by Joesph Segel in 1964. This company specializes in using artisans and designers to prepare collectibles. Franklin Mint originally entered the money making business by producing currencies for countries outside the United States of America.
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History
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According to Franklin Mint, in the early years it also made "commemorative medallions, casino tokens and precious metal ingots." Later, the company branched out to the production of models, sculptures, collectible versions of games, dolls and other collectibles.
Incorporation
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Franklin Mint was originally incorporated as the General Numismatics Corporation. Currently based in Franklin Center, Penn., the company is now a sole subsidiary of the Roll International Corporation. In 1988, the Princess Diana Memorial Fund sued Franklin Mint, challenging its financial position, because the fund wanted the Mint to stop producing products containing the Princess's likeness. The Memorial Fund ultimately lost its lawsuit after a costly legal battle. In 2003, Franklin Mint counter-sued for damages on the grounds of malicious prosecution. The suit case was settled out of court in 2004.
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Money History
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The original cost of Franklin Mint money printed by Joseph Segel was $6.50 per coin. Under the leadership of Segel's successor, Charles Lovett Andes, the Franklin Mint began printing gold coins in 1974. When the company experienced financial problems by the end of the 1970s, the production of coin money was curtailed. The expansion into more collectible products continued from the 1980s to the present day.
Today's Collectible Coins
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In the 21st century, the Franklin Mint still prints collectible coins such as military aircraft coins and sunken treasure collectible coins. In 2009, the company marked the first year of Barack Obama's presidency with a commemorative stamp collection. In the case of rare coins, the Franklin Mint website sells rare finds, such as authentic Morgan Silver Dollars dated more than 115 years old.
Value
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Consumers may wonder whether the coins made by the Franklin Mint will hold their value or appreciate over time. Some coins will become collector's items that command higher prices on websites like eBay. Other coins will only be worth the weight of the precious metals contained in them and/or the monetary value of the coin. For example, The Los Angeles Times reported in January 2009 that the new Obama half dollars were really Kennedy half dollars with an overlay of Obama on one side. These half dollars would continue to be worth at least 50 cents, their face value according to the U.S. Mint.
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