>The purpose of the corvette ingots is for collecting. Franklin Mint no
>longer stresses investment potential.
As I said in my post, buying them for collecting is fine. Enjoying a hobby
is fine and being an enthusiast about something is also fine. However, too
often than not, these people are taken advantage of because of their love for
an item such as the Corvette. Some people do not take the time to consider
what the actual worth is of what they are buying. Recently, I was in contact
with an individual who purchased a set of sterling silver medals from FM a few
years ago. Now he is having financial difficulty and wished to sell them. He
advertised on the net and was surprised to find he could not recoup more than
20% of what he paid. He was outraged, he actually thought he could turn a
profit! FM can not stress investment potential of what they sell, because
most of it has absolutely no investment potential. The prices for the actual
coins they sell, modern and ancient, are almost double the current market
price if you bought from a coin dealer. God, those mahogany cases must be
worth a fortune.
>The $37.50 price kills anything the US Mint is currently making when
>compared to the artwork involved.
These ingots may demand a price greater than their silver content, just as the
BU Silver Eagles from the US Mint do. However, the price difference is a hell
of a lot more! Buying for the artwork is also fine, just don't complain if
and when there is a need to sell because no one other than a Corvette fan will
be willing to pay much over spot for them. Many of the modern commemoratives
sold by the US Mint do have a cost in relation to that of these ingots. It
should be noted though that most of these proof commemorative prices include a
sizeable donation to a non-profit agency, such as the US Olympic Committee.
They also trade between coin dealers for, not issue value, but a lot more than
melt value. You may be willing to pay for the artwork but the money you are
paying is going to pad some CEO and stock-holder's pockets.
>Quit comparing medallics to coins. They are totally different collecting
>fields. Slabbed Morgan dollars may be a good investment and they do look
>good, but totally unrelated to The Franklin Mint type offerings.
I will not argue that coins and medallics are the same, they are different.
However, at the same time they are similar. I have not seen many medallics
dealers, most of these items are sold to coin dealers when they are no longer
needed or money is wanted, and most coin dealers will not find the same
est ethic value for them that you do.
>BTW the St. Gaudens $20 piece from Franklin Mint is in BU condition. The
>price is high, but it is unrelated to the things that Franklin makes.
I have read the advertising also. I have never seen one from FM. I assume
that you have purchased one and are sufficiently trained to be able to
accurately grade $20 St. pieces to be able to make that statement. If this is
so, then you truly are one of the FM's fools and discussing this with you is
pointless. The most common mistake people make when buying or selling coins
is that they do not do their homework! It is not hard to visit a library or
stop by a book store and look up a few prices. These books will probably
report the value of a BU $20 St. a bit higher than it would trade for , but it
is a hell of a lot less than $995, at least for most dates. Not investigating
coin values and taking someone's word usually gets people ripped-off if they
are not dealing with an honest dealer. Believe it or not but there are
dealers that would do this. Then the whole coin world is to blame!
The price of the FM $20 St. is unrelated to what the FM makes, agreed. It is
an example of their blatant over-pricing of items, I mean that mahogany case
really worth the extra $400-$500?? You may fully well know what you are doing
but there may be people on this group that are not informed of the actual
worth of these items. For example, I received a FM game as a gift. I did not
want it but knew it sold for $550 from a booklet they sent me. I would have
gave it back but did not feel like paying shipping charges. I offered it for
sale on the collecting group, it is supposedly a collectible. I did this for
about a year, even asked less than worth. I finally was able to trade it to a
collectibles auction for $240 in credit. That is less than half of it's
selling price. Well I saw it in the auction, followed the price, the last bid
was for $110! Hey, it was one of those Mahogany cased games, not worth
You can buy whatever you want and for whatever reason you want. I am just
trying to inform the general public about the actual worth of these items.
You can rant and rave about the artwork and quality of these ingots all you
want but they will never be worth $37.50 unless silver is selling for $37.50