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(Chicago Sun-Times)   Area man discovers that when investing in the Franklin Mint 401(k), past performance is not indicative of future results   (heraldnews.suntimes.com) divider line 224
    More: Fail, Franklin Mint, Benz, Princess of Wales  
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18257 clicks; posted to Main » on 29 Apr 2012 at 8:40 AM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-04-29 11:33:22 AM  

RabidRythmDivas: John Buck 41: leevis: I save any coin I find from before 1960, I needed a hobby. I probably have more than 1,000 bucks in face-value but I doubt I'll ever be retiring off of them. An early Jefferson nickel probably wouldn't go for much more than 25 or 30 cents unless it's an error coin.

It's wheat pennies for me. Some of those little farkers are worth 3 or 4 cents.

I saw a really cool little US Mint wheat penny coin die on ebay. It's an actual die stamp thingie that the mint used to make wheat pennies. Too lazy to look for the link. Just search wheat penny coin die on ebay.


Found it (new window)
 
2012-04-29 11:33:25 AM  

kim jong-un: Speaking of coins, I found a bunch of US issued pesos dating from the 1800s in my grandfather's stash. Most look to be in pretty good condition with the only wear looking to be from sitting in his sock drawer for a couple of decades. I've now got them sitting in a safe at the bank.

They will probably sit there till someone cleans out my stuff 60 years from now unless I can find an appraiser I can trust.


They are in the book beside lawyers you can trust.
 
2012-04-29 11:35:21 AM  

lenfromak: PsiChi: Speaking of results and performance, Drew, you might want to reconsider having American Apparel ads on your site. The guy in the jeans is not doing you any favors.

What guy in jeans? I'm getting two barely-legal girls in swimwear who alternate from time to time. Must be your cookies working.


LOL! All I get are the same girls you describe, almost looks like porn on my computer when I glance (waste hours) at this site at work.
 
2012-04-29 11:42:08 AM  
Anything that was made as a 'collectible' is worth less than what you paid for it. I have collected coins for years, the first thing my Dad always told me was if it was not from the US Mint, it's worthless. Typically, I hold on to interesting coins I just find in circulation, oldest penny I found was a 1918.
 
2012-04-29 11:42:20 AM  

RabidRythmDivas: RabidRythmDivas: John Buck 41: leevis: I save any coin I find from before 1960, I needed a hobby. I probably have more than 1,000 bucks in face-value but I doubt I'll ever be retiring off of them. An early Jefferson nickel probably wouldn't go for much more than 25 or 30 cents unless it's an error coin.

It's wheat pennies for me. Some of those little farkers are worth 3 or 4 cents.

I saw a really cool little US Mint wheat penny coin die on ebay. It's an actual die stamp thingie that the mint used to make wheat pennies. Too lazy to look for the link. Just search wheat penny coin die on ebay.

Found it (new window)


Cool.

//thanks
 
2012-04-29 11:47:29 AM  

RabidRythmDivas: RabidRythmDivas: John Buck 41: leevis: I save any coin I find from before 1960, I needed a hobby. I probably have more than 1,000 bucks in face-value but I doubt I'll ever be retiring off of them. An early Jefferson nickel probably wouldn't go for much more than 25 or 30 cents unless it's an error coin.

It's wheat pennies for me. Some of those little farkers are worth 3 or 4 cents.

I saw a really cool little US Mint wheat penny coin die on ebay. It's an actual die stamp thingie that the mint used to make wheat pennies. Too lazy to look for the link. Just search wheat penny coin die on ebay.

Found it (new window)


No picture of the die face, which should have been obliterated before leaving the Mint.
 
2012-04-29 11:48:47 AM  
No one has mentioned Avon collectables yet. My mother would buy all the farking "collectable" decanters and steins. I've got all her steins and when I've checked them on eBay I see price ranges between $5 and $50 on any particular stein but no bids on any of them.
 
2012-04-29 11:53:32 AM  
That's not surprising. When they say something like "Limited to 5K printings/firings/whatever...," they really mean "...for lot A" Then there's a Lot B. And so on.
 
2012-04-29 11:54:39 AM  

kim jong-un: the scene that Kinkade ripped off for that painting.


The term you're looking for is "painted".
 
2012-04-29 12:00:40 PM  
This thread makes me want to dig around and find the only coin I have that is likely worth anything above face value: a SC 50 state Quarter which was struck with a chipped and cracked die. I got it for change from a coke machine.

I'm sure it isn't worth much, but it is a fun curio.
 
2012-04-29 12:01:33 PM  

Lagaidh: CSB


i1.kym-cdn.com
 
2012-04-29 12:01:43 PM  

JohnAnnArbor: RabidRythmDivas: RabidRythmDivas: John Buck 41: leevis: I save any coin I find from before 1960, I needed a hobby. I probably have more than 1,000 bucks in face-value but I doubt I'll ever be retiring off of them. An early Jefferson nickel probably wouldn't go for much more than 25 or 30 cents unless it's an error coin.

It's wheat pennies for me. Some of those little farkers are worth 3 or 4 cents.

I saw a really cool little US Mint wheat penny coin die on ebay. It's an actual die stamp thingie that the mint used to make wheat pennies. Too lazy to look for the link. Just search wheat penny coin die on ebay.

Found it (new window)

No picture of the die face, which should have been obliterated before leaving the Mint.


Which end is the face? The smaller top end looks like it has grinding marks. I suppose the die face is the bigger end that appears to be attached to the base of the display?
 
2012-04-29 12:05:10 PM  
On the other hand, my wife and I were given an Edinburgh Crystal set of glasses for our wedding about 7 years ago. Edinburgh Crystal went bankrupt and therefore nobody is producing the glasses any more.

Of course unlike "collectors' plates" the occasional glass gets broken because people actually use them occasionally and the prices for some have rocketed. Just paid £100 for two large wine glasses last week on eBay because somebody broke one of ours. Think they originally went for about £50 a pair. Oddly, whisky glasses and brandy glasses seem to be relatively plentiful and quite cheap. They turn up all the time on eBay but I haven't seen wine glasses for several years.

images.replacements.com

/why yes, I do have much better things to spend my money on but there's no point having a set of glasses with one missing and you have to grab your opportunities when they come along
 
2012-04-29 12:09:25 PM  

ambassador_ahab: You know, former Rep. Anthony Weiner was part of a committee investigating one of these scam "gold" coin things (where it's gold-plated and not struck my the US Mint). I think the company was "goldline," and the hearings were hilarious with Weiner destroying the CEO with the companies own ads.


Those were actual gold coins, just greatly overpriced, but even then Weiners investigation showed pretty good returns after a few years.
 
2012-04-29 12:10:23 PM  
Im always surprised people other than small children fall for the "collectible" stuff. I mean every kid I knew in the late 80's, we were going to be rich off of our collections of topps/donruss/fleer baseball cards.

Well, I still have boxes of complete sets, and I still have my job, soooo...

I guess once you start losing your mental faculties you could go back to thinking that sort of thing.
 
2012-04-29 12:11:14 PM  
havana_joe

not relevant to what for 3 years? fark? this article? I'm okay with it ... I'm just clueless as to the how/why/what..


& no matter the answer, I still find that show funny.
 
2012-04-29 12:14:47 PM  

leevis: I save any coin I find from before 1960, I needed a hobby. I probably have more than 1,000 bucks in face-value but I doubt I'll ever be retiring off of them. An early Jefferson nickel probably wouldn't go for much more than 25 or 30 cents unless it's an error coin.


My GF's father did that. She recently counted up all the coins, then added up the silver weight against the current price of silver. Found out she has about $1800 worth of silver. Not bad for a tin of old coins with a face value of about $30-$50. Of course, trying to get the full value for the coins is another matter.
 
2012-04-29 12:20:48 PM  

Riche: The poor bastard is out his life savings and all this columnist can do is mock him.

I don't buy into that "never give a sucker an even break" crap.

I belileve the government has a responsibility in keeping businesses and individuals from taking advantage of the desperate and foolish.

Companies like The Franklin Mint must be forced to put up huge disclaimers stating YOU WILL LOSE YOUR MONEY in their ads if they in ANY way imply their crap is an "investment."


Unfortunately, there's too many scammers out there for the government to get all of them, and it can be very hard to prosecute the ones like Franklin Mint who hire lawyers. In some cases the law is on their side, which means it's not merely a matter of enforcement; the law would need to be changed, too.

The authorities will go after scams that are big and reckless enough (e.g., Smiling Bob and Enzyte), but it's a simple fact ot life that the authorities can't protect us from everything.
 
2012-04-29 12:21:12 PM  
Sheesh. Dumb bastard.
 
2012-04-29 12:21:49 PM  

Snargi: No one has mentioned Avon collectables yet. My mother would buy all the farking "collectable" decanters and steins. I've got all her steins and when I've checked them on eBay I see price ranges between $5 and $50 on any particular stein but no bids on any of them.

 
2012-04-29 12:21:52 PM  

Rapmaster2000: That was way too dumb to be real.


The fact that there are so many people pandering these types of merchandise on TV leads me to believe you're wrong. There is obviously a big market out there. Just like the guy on TV selling the miracle water and holy miracle handkerchief (serious)
 
2012-04-29 12:23:13 PM  

Snargi: No one has mentioned Avon collectables yet. My mother would buy all the farking "collectable" decanters and steins. I've got all her steins and when I've checked them on eBay I see price ranges between $5 and $50 on any particular stein but no bids on any of them.


Wait until about 20 years from now when those things are "rediscovered" by some flavor-of-the-month actress who is decorating her Malibu mansion with them, so then *everyone* will want them.

Then dump them fast before she's lost the mansion to foreclosure.
 
2012-04-29 12:25:36 PM  
Actually not everything Franklin Mint sells are worthless. Some may actually hold true or increase in value. This guy just bought the wrong type of coins is all.

Link
 
2012-04-29 12:28:54 PM  
remember this story from a few years ago:

New owner of Franklin Mint sues previous owners for overstating the value of the Franklin Mint

it seems that their business model cuts to the core of the entire operation.

gotta hand it to them for consistency and commitment.

/no, that is not an Onion article
 
2012-04-29 12:32:40 PM  
At the very least, he should bought, you know, actual silver or gold. Usually it won't go gangbusters like it is right now, but at the very least it should hold its value compared to inflation.

At lest until the Philosopher's stone is rediscovered. Then you'll look like a fool!
 
2012-04-29 12:35:50 PM  
Toy collectibles are the one spot I think I've figured out.

The peak value is about 20 years after the toy was the object of desires. This is when the kids who wanted them have a peak in disposable income. See: Transformers.

Now, if you could figure out which toys will be that desired 20 years from today and stash a few away... Well, odds are that you'd be wrong.

Nothing made to be collectible really is collectible.

/Made a killing on NIB Tamagochi
//Found at a garage sale near the 10th anniversary with Receipt.
 
2012-04-29 12:36:58 PM  

Tman144: leevis: I save any coin I find from before 1960, I needed a hobby. I probably have more than 1,000 bucks in face-value but I doubt I'll ever be retiring off of them. An early Jefferson nickel probably wouldn't go for much more than 25 or 30 cents unless it's an error coin.

My GF's father did that. She recently counted up all the coins, then added up the silver weight against the current price of silver. Found out she has about $1800 worth of silver. Not bad for a tin of old coins with a face value of about $30-$50. Of course, trying to get the full value for the coins is another matter.


Well circulated coins and ones without dates are called junk silver and sell for near spot by weight usually, they are 90% silver [Dimes, quarters, halves and dollars pre 1964]

If they are in actually decent condition, then values vary all over the place but when you sell collectables, you don't get retail unless you find a specific buyer who wants exactly what you have. It would be a good idea to beg or borrow a coin book [I think it used to be called 'the Red Book', but it may have been blue...], it lets you get a rough idea of grade and a retail value that will at least let you know if it's worth more than spot.

Older Franklin halfs, walking liberty halves, morgan and peace dollars if in good shape - even so, they aught to be worth about $20 at spot right now, IIRC.
 
2012-04-29 12:37:57 PM  

Begoggle: Fake letter is fake.
Amazing to me that it isn't obvious to everyone.
Sarcasm & joking don't work on the internet, apparently.


Maybe, but there are people that stupid.
 
2012-04-29 12:40:17 PM  
We need to get away from the whole adherence to the "letter of the law" and get back to the "spirit" of it.

Outfits like the Franklin Mint prey on the ignorant and less intelligent with deceptive claims and advertising. It is not unreasonable to force them to disclose exactly what buyers are purchasing instead of making vague claims. If you have ever seen one of their commercials, you know what I am talking about.
 
2012-04-29 12:45:07 PM  
Damn, I feel like a fool. I've been buying my coins from the US Mint, and here was this great Franklin Mint with huge savings. They need to get the word out about this place.
 
2012-04-29 12:46:07 PM  

bmwericus: Tman144: leevis: I save any coin I find from before 1960, I needed a hobby. I probably have more than 1,000 bucks in face-value but I doubt I'll ever be retiring off of them. An early Jefferson nickel probably wouldn't go for much more than 25 or 30 cents unless it's an error coin.

My GF's father did that. She recently counted up all the coins, then added up the silver weight against the current price of silver. Found out she has about $1800 worth of silver. Not bad for a tin of old coins with a face value of about $30-$50. Of course, trying to get the full value for the coins is another matter.

Well circulated coins and ones without dates are called junk silver and sell for near spot by weight usually, they are 90% silver [Dimes, quarters, halves and dollars pre 1964]

If they are in actually decent condition, then values vary all over the place but when you sell collectables, you don't get retail unless you find a specific buyer who wants exactly what you have. It would be a good idea to beg or borrow a coin book [I think it used to be called 'the Red Book', but it may have been blue...], it lets you get a rough idea of grade and a retail value that will at least let you know if it's worth more than spot.

Older Franklin halfs, walking liberty halves, morgan and peace dollars if in good shape - even so, they aught to be worth about $20 at spot right now, IIRC.


Yea, it's mostly junk silver. Lots of dimes and quarters, but apparently it adds up if you have a bunch of them. She just has no idea where to go to sell them.
 
2012-04-29 12:48:09 PM  

Riche: Companies like The Franklin Mint must be forced to put up huge disclaimers stating YOU WILL LOSE YOUR MONEY in their ads if they in ANY way imply their crap is an "investment."


Lets point out that they never tell any lies.

The price of gold and silver has been going up.

The coins are minted in limited number.

Being limited, they are considered collectable.

They never say their stuff is an investment. People just think it's an investment for the reasons listed above.

/This way to the Great Egress.
 
2012-04-29 12:48:58 PM  
Any things sold as "collectible" isn't. Buy nice looking stuff because you like the look of it and because it has a certain quality (like really good 19th century furniture that's actually similar in price to modern stuff of the same quality).

I've seen "collectible" replicas of the James Bond Lotus I had as a kid. Those (from the 70s) are collectible because most kids played with them, broke them and threw them out.

The only exception is when you see something that you know is selling at way below resale value. Buy it, and sell it on within days.
 
2012-04-29 12:56:07 PM  
For a long time have been collecting cheap handguns. Ideal for when the bottom falls out:

"It's a bargain at only 75 pounds of canned goods"

"Oh, you'll need some ammo for that"

"Or you could just HAND IT BACK TO ME AND GTFO!"

(repeat as often as possible)
 
2012-04-29 12:58:50 PM  

crabsno termites: For a long time have been collecting cheap handguns. Ideal for when the bottom falls out:

"It's a bargain at only 75 pounds of canned goods"

"Oh, you'll need some ammo for that"

"Or you could just HAND IT BACK TO ME AND GTFO!"

(repeat as often as possible)


You know, collecting Saturday Night Specials is kind of a neat idea. Theres actually people out there that do that. And there are so many different brands and models of junk 50 dollar guns, that you could collect them for fun and never really be out of much money. And I mean, a 50 dollar gun will always be a 50 dollar gun, so when you get sick of them you can always sell them for what you paid.

Bottom end guns and Colts seem to be the only ones that keep their purchase value over the years.
 
2012-04-29 01:01:38 PM  

phedex: crabsno termites:

Bet you thought I was kidding, didn't you?


no.

 
2012-04-29 01:09:12 PM  

Abe Vigoda's Ghost: Let me 'Kinkade that for you.

They should just make that one of the image filter in Photoshop. Then I could turn out Kincaid level shlock with no effort at all.

wildcardjack: The peak value is about 20 years after the toy was the object of desires.


They say for automobiles you can plan on 15 years being the low pint of value, ten it stats to appreciate. Of course we aint talking Yugos and Vegas here.
 
2012-04-29 01:09:36 PM  
StoPPeRmobile: Hey, how are those baseball cards from the 90's doing?

Appreciating in my parents' basement along with my X-Men cards, thank you very much.
 
2012-04-29 01:09:47 PM  
If there is one certainty in life it is that any "collectible" churned out by Franklin Mint or its ilk is never ever going to recoup it's purchase price. It's godawful shiat pitched at morons and sold in such quantities that it will never become rare, at least not for many lifetimes.
 
2012-04-29 01:10:16 PM  
Should have "invested" in these.
www.stretcharmstrongworld.com
 
2012-04-29 01:13:14 PM  

crabsno termites: phedex: crabsno termites:

Bet you thought I was kidding, didn't you?


no.


no way, I believe it. I think it would be kind of fun/funny to have a huge collection of lorcin and davis .25 autos.
 
2012-04-29 01:17:50 PM  
phedex
Bottom end guns and Colts seem to be the only ones that keep their purchase value over the years.

Not true,any modern gun will hold its value.I bought my S&W 686+ new for $403 + change,I could probably get $600 for it now,new ones start around $700.
 
2012-04-29 01:19:55 PM  
First week: "Do to limited quantities only 1 per order"
Six months later: "Do to limited quantities only 5 per order"
One year later: "Do to limited quantities only 20 per order"

That junk isn't worth the paper their "Certificate of Authenticity" is printed on.
 
2012-04-29 01:21:37 PM  
Meh, I still collect 1st Series Garbage Pail Kids from the 80's. I'm told they'll be worth something one day*.


*Today!
 
2012-04-29 01:25:43 PM  
All collectables are usually junk but Coke and Pillsbury seem to have a large group of people that continue to feed the market. It's Poppin' Fresh! And he's being poked!!
 
2012-04-29 01:32:42 PM  

RabidRythmDivas: RabidRythmDivas: John Buck 41: leevis: I save any coin I find from before 1960, I needed a hobby. I probably have more than 1,000 bucks in face-value but I doubt I'll ever be retiring off of them. An early Jefferson nickel probably wouldn't go for much more than 25 or 30 cents unless it's an error coin.

It's wheat pennies for me. Some of those little farkers are worth 3 or 4 cents.

I saw a really cool little US Mint wheat penny coin die on ebay. It's an actual die stamp thingie that the mint used to make wheat pennies. Too lazy to look for the link. Just search wheat penny coin die on ebay.

Found it (new window)



You beat me too it. I was dotally going to do a search for wheat penny coin die on eBay.
 
2012-04-29 01:34:02 PM  
At Good Will yesterday I picked up a mint condition copy of "Happiness is a dry martini" by Johnny Carson for 25 cents. They go for 10 bucks on e-bay. That how most people make money on their investments buy low and sell for what ever you can. Huge paydays are just simply scarce
 
2012-04-29 01:36:56 PM  

Dired: An item is worth what you can get someone to pay you for it


Exactly. I was once at a community book sale--one of those deals where you buy a supermarket bag of books for a dollar--and I snagged a first edition of Tom Clancy's *The Hunt for Red October* with dust jacket. In theory it's worth a few hundred bucks, but I doubt I'd find anyone willing to pay me that much for it.
 
2012-04-29 01:38:13 PM  
I'm pleased to note that so many are aware that the Franklin Mint is nothing more than a big scam.

What chaps my a$$ is that THEY KEEP ON GETTING AWAY WITH IT. They lie through their teeth in their advertisements and have bilked millions of folks out of their hard earned money for years and not one government agency gives a hoot. Yet we have laws against fraud and misrepresentation.

It also irritates me that the FCC allowed the creation of the 'infomercial' in various forms, which is used to mainly promote products that do not perform as well as claimed. I know folks who have bought various 'ingenious' items and they turn out to be more trouble than they're worth or next to useless.

Eggos -- the plastic boiled egg maker: pain in the arse to assemble, use and clean. Must coat the inside with oil also.

Mighty Putty -- sticks mainly to itself and nothing else.

Miracle Ear -- the snazzy blue tooth looking hearing enhancer is nothing more than an Omni directional microphone that picks up everything in the vicinity and poorly (due to tiny, cheap speakers) blasts it into your ear.

That nifty egg cracker which takes the mess out of cracking eggs. Works great on TV -- but tends to drop the shells and fragments into the container with the egg.

These scams seem to be a tradition here. Back in the 50s, when most folks had black and white TV's, someone produced a 'colorizer' to turn your boring basic TV into a glorious color set.

It was a screen sized sheet of plastic, rainbow hued, that clung to the glass screen and 'colorized' everything, if you liked red skies, blue ground, green buildings and yellow people.

I recall reading about how RONCO, when selling super-duper knife sets, which could cut steel and delicately shave a tomato paper thin, had to go through dozens of knives to find a few which actually worked for the demonstration. Later infomercials incorporated paid audiences, camera tricks and maybe some sleight of hand to make it look like they worked.

Then Ron Poppile (SP) the inventer of RONCO had a documentary made about him, praising him as a top entrepreneur. Shortly after came 'Pitchmen' which glorified professional liars.

You all should recall the 'Phone Psychic' scam and how long it took before the government cracked down on them.
Granted, some items do work as advertised. The Slap Chop being one. The Ronco juicer and vegetable dehydrator. That whole loaf bread slicer stand. That bread maker -- though you mainly had to buy packets of their own mix. The Fry Daddy. The fry pan splatter screen.

Though the majority do not and you get to be blasted by hours and hours of infomercials pushing dubious goods as cable companies make major bucks off them -- and still find excuses to jack your rates up.

The Franklin Mint -- whose coins are not made in the US -- is about the biggest of the scams. They don't even tell you what the base metal is under that molecule thick coating of gold.
 
2012-04-29 01:41:17 PM  
WHUT?!?!


grampyshouse.net

Does this mean my "Free" Elvis 50 cent coin that I paid $2.95 for is...worth about 50 cents? Dagnab it, I was hoping to sell that sucker for a bazillion bucks some day.
 
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