"All the perplexities, confusion and distresses in America arise not from defects in the constitution or confederation, nor from want of honor or virtue, as much from downright ignorance of the nature of coin, credit, and circulation."

John Adams - Letter to Thomas Jefferson - 1787

The Franklin Mint ® (True) History

The Franklin Mint ® was started by Joseph Segel in 1964. Joseph Segel also started the QVC home shopping channel in 1986, so you might have an idea where this is going. Segel started the General Numismatics Corporation. The US mint's Kennedy memorial half dollar proved to be so hugely popular that Segel, an advertising executive, realized there could be money in minting private collector coins and medallions. To generate interest among collectors as well as gain start-up capital, he initially offered stock in the company to members of coin collecting societies at a significant discount. To give his mint "street cred," he bagged the biggest fish around. He hired away the US mint's chief engraver (creator of the Kennedy half-dollar), Gilroy Roberts. Before Kennedy, Benjamin Franklin was on the fifty cent piece. To make the subtle connection between Segel's business and having the US mint's former chief engraver on the payroll, Segel renamed his company the "Franklin Mint ®."

For a time the Franklin Mint ® made a lot of money making dollar-sized tokens for Nevada casinos. The silver dollar had grown in very short supply in the mid-60s when the coin's silver content (i.e., its melt down value) was worth more than the coin's face value.

To help promote and sell private commemorative coin and medallion collecting, the Franklin Mint ® established the Franklin Collectors Society. At its peak of popularity in the '70s, the Franklin Collectors Society had more members than the American Numismatic Association.

Seeking to expand business, the Franklin Mint ® began creating collector plates. Warner Communications also realized plate collecting, a growing hobby, offered a source of revenue for its massive library of TV, movie, and cartoon characters. In 1981 it purchased the Franklin Mint. The purchase was ill-timed.

The 1981 recession hit and the music, movie, and video game industry tanked. (Warner owned Atari.) If no one had a dime to drop in the jukebox, baby, no one had money to "invest" in Gone with the Wind collector plates. The Franklin Mint ®, under Warner, began turning out even cheaper crap than what it makes today, if you can believe that. In the '70s the Franklin Mint ® had a reasonably good reputation in the coin collector world, but under Warner, it became known as a cultural vampire, taking America's icons in literature, history, and entertainment, sucking any artistic value they had, and then selling it in trashy publications like the National Enquirer.

Warner's Atari division kept generating more massive and ruinous losses so Warner was forced to raise money by selling off some of its divisions. In 1985, it sold the Franklin Mint to the Resnick family, owners of a large California agricultural concern.

The Resnicks expanded the Franklin Mint ® into all manner of faux collectables: chess sets, porcelain dolls, ninja swords, and die-cast cars. The Resnicks improved the quality of their faux collectibles but also began pillaging American culture with wilder abandon. Their ads became more lurid and deceptive, describing products as "limited edition" and even "museum quality". A number of museum curators and preservationists cringed at that one. The Franklin Mint ® always carefully avoids any suggestion that its products have any value on secondary or after markets. They don't. The terms "Franklin Mint" and "Crap" are regularly coupled on news groups like rec.collecting and rec.antiques.

In 2000, a model car collector sued the Franklin Mint ® for misleading claims over labeling many of its products "Limited Edition". Turns out the limit is as long as the item remains profitable to sell. A judge tossed out the case. If the die-cast car is simply identified as "limited edition" and no actual numbers are given ("only 45 firing days!" or "Limited to 20,000 copies!"), then limited edition can refer to the life of the casting mold itself. Molds have a finite lifespan before they wear out.

The Franklin Mint ® faced two higher profile lawsuits. It was sued in 1998 by the Diana Princess of Wales Memorial Fund and Princess Diana's Estate over a series of memorial collector plates and other items bearing the late lady's image. The Franklin Mint ® successfully defended itself, arguing fair use. A judge agreed.

However, the Franklin Mint ® was not so lucky with a lawsuit launched by golf royalty Tiger Woods. The Franklin Mint ® released a series of medallions commemorating the 1996 Masters golf championship, which Tiger Woods happened to win. Ho ho! Naturally, Woods' image was all over the Franklin Mint "Tiger Woods Eyewitness Commemorative Medal." Papers filed by Woods' lawyer indicated the Franklin Mint ® crap was "low-end merchandise of the type which Tiger Woods does not wish to associate himself." Yeah! The Franklin Mint ® defended itself claiming it had a right to report on events and Woods happened to win... a judge rejected the notion that a commercial medallion could enjoy freedom of the press protections. Woods was awarded a substantial sum.

Now the Franklin Mint ® has stooped to new lows by hiring a former government bureaucrat and politician by the name of Jay Johnson to further enhance the "street cred" that causes too many unsuspecting victims to overvalue the crap offered by the Franklin Mint ®:

About Jay Johnson (according to the Franklin Mint ® web site) Jay Johnson was the 36th Director of the United States Mint, appointed by President Clinton and serving until August of 2001 at which time he became a Senior Advisor to the Department of the Treasury. During Mr. Johnson's tenure, the Mint set new and unbroken records by producing more than 28 billion coins and returning a $2.6 billion profit to the U.S. Treasury. He oversaw the most successful coin program in history - the 50 State Quarter program - which was collected by nearly 150 million Americans, or roughly half the U.S. population. He also managed the Sacagawea Golden Dollar program (of which a record of over one billion was produced) as well as the launch of the Buffalo Silver Dollar, which became the fastest-selling commemorative coin in history. Mr. Johnson also oversaw the operations of the gold depository at Fort Knox. Prior to his becoming Mint Director, Johnson was a U.S. Congressman from Wisconsin (8th District) and had a 30-year career as an award-winning local TV newscaster in Wisconsin, Michigan and Florida. In addition to his role as Chief Numismatist, Mr. Johnson will serve as the spokesperson and "face" of The Franklin Mint ® for any future television programs for medallic art and coin products. As the radio commentator Paul Harvey would say, "and that is the rest of the story."

This particular Franklin Mint ® "Antique Car Collection" was offered by Sunoco many years ago, probably around 1968, long before Warner Communications (and then the Resnick family) acquired the Franklin Mint ® business.

The tokens are mounted on cardboard. The top of the cardboard reads, "Antique Car Coin Collection Series 1." Underneath it says, "Minted by the Franklin Mint." There are 25 tokens beginning in 1901 and ending in 1925. Each token has a car, its name and a date. For example, the 1901 token reads, "White Steamer, 1901" On the opposite side of the token it says, "Antique Coin Car Series 1" and "Sunoco."

The bottom of the cardboard frame says, "THE ROMANCE OF ANTIQUE CARS. Nearly one million people today are collectors of antique car mementos-ranging from the cars themselves to small parts and accessories, or even books on the subject. All heads turn when the beautifully restored vintage car passes on a sunshiny day. This collection illustrates some of the favorite cars of the period 1901 to 1925.....the grandest era."

So much for corporate advertising hyperbole.

Each token is 1 inch in diameter. The tokens are minted from some kind of cheap aluminum alloy metal, and the artwork is typical of many Franklin Mint ® products, if you know what I mean.

This set may actually be worth something to somebody that does not know anything about the Franklin Mint ®.

Unless you are a big fan of cheap Franklin Mint ® crap, I would not advise bidding on this item. I offer other collectible coins that actually hold value, so I would suggest that you peruse my other listings before you commit to something that you might regret later.

CLICK HERE to view my other more valuable listings.

The bidding starts at .99 cents, with no reserve. Hopefully I will be able to dump this crap on some unsuspecting victim that is eager to take advantage of the free shipping.

Shipping is FREE by USPS First Class Mail and insurance is optional but recommended.

I will not ship outside of the United States.

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"The Revolution was effected before the War commenced. The Revolution was in the minds and hearts of the people; a change in their religious sentiments of their duties and obligations ... This radical change in the principles, opinions, sentiments, and affections of the people, was the real American Revolution."

John Adams (1735-1826) Founding Father - February 13, 1818