BU Franklins compared to Junk Silver Franklins

Discussion in 'US Coins Forum' started by debordj, Nov 15, 2010.

  1. debordj

    debordj Debo

    Was in the old coin shop on Saturday and asked what the price was for Junk Franklins. Lady said $9 each.

    Looked down into the display case and they had pretty bright BU Franklins for $12 each. have always wanted to start a Franklin book so ended up buying 10 of the nicest BU examples and ended up getting a discount too - 10%. Couldn't understand why anyone would buy Junk for $9 when BU can be had for $10-12?

    Made me think that the numismatic "spread" on Franklins must not be that much. So, do you think people will melt the Franklins to an extreme that will make them more scarce?

    Thoughts?
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  3. Log Potato

    Log Potato Barberous

    What coin shop in PA?:D
  4. blsmothermon

    blsmothermon New Member

    In my opinion, hi-grade Franklins have been underpriced for some time. They are one of the semi-ignored coin types. This can be shown by looking at common Morgan and Peace dollars in good grades, these go for 26x - 30x face. Where as you saw, Franklins are going for 20x - 24x face. That is a considerable spread when you consider that 1964 Kennedys are going 26x - 28x face. It is, to me, a really good time to collect Franklins.
  5. debordj

    debordj Debo

    Log - sorry. Just transferred with military from PA to San Diego. Shop was in San Diego. Updated my profile. Thanks.
  6. sunflower

    sunflower New Member

    Thanks for starting this thread. I had not thought of the BenFranklins in this way. I paid about $10.00 a piece in a original Federal Reserve roll earlier this summer. Love the paper on the roll alot. Silly maybe, but I really enjoyed seeing the faded color of original roll wraps. I will keep my eye open for more.
  7. BR549

    BR549 Junior Member

    How about some dates/mint marks to postulate a reasonable answer.
  8. 1066merlin

    1066merlin ANA#R3157534

    This thead kinda answered one of my questions. I want to get my 8yr old daughter into collecting. Being an 8yr old she in more into "the blingy" coins. With prices like this I can start her with Franklin halfs.
    Thanks for making a desision for me!
  9. conpewter

    conpewter Junior Member

    Those junk silver coins are slightly below melt, so pretty cool! The BU ones are a great deal as well.
  10. lunar lord

    lunar lord Junior Member

    sorry for asking this but i have always wondered wat is "junk silver" coins? are they just circulated coins?
  11. GDJMSP

    GDJMSP Numismatist Moderator

    It's pretty simple, the only reason they are buying the junk Frankies is for their silver value so why pay more ?

    For that matter if silver prices were not so high those BU Frankies would be a lot cheaper too.
  12. GDJMSP

    GDJMSP Numismatist Moderator

    No, they can be BU too. The thing that makes them junk silver is they have no numismtic value. Their value is based on their silver content.
  13. lunar lord

    lunar lord Junior Member

    ok thank you
  14. debordj

    debordj Debo

    Here you go - will try and take some pictures tonight:

    58 P - $11
    59 P - $11
    58 D - $12
    60 P - $11
    61 P - $14 Proof
    61 D - $11
    61 P - $11
    62 D - $11
    63 D - $11

    I have wondered if these were priced like this or a little lower back when silver was $15 per oz. I sometimes suspect that the coin shop is so busy with bullion customers that maybe they don't have time to go through and reprice the silver coins. Don't know? But they are nice BU coins and happy to get them at that price...hope they are worth it.
  15. Lugia

    Lugia ye olde UScoin enthusiast

    if franklins are underpriced does that mean walking liberty halves are overpriced?
  16. medoraman

    medoraman Well-Known Member Supporter


    Like Doug has said, two things are going on, silver is up and numismatic coins are soft. This is creating a situation where many more coins are losing any numismatic premium and more and more coins are junk silver. If you believe that silver will stay where it is at or that more people will collect Franklins, then your coins will hold thier value. If silver goes down I could see these coins going down some as well though, since they historically are priced just a few of dollars above melt.

    They are cool coins, I always thought Franklin was much more deserving than any President of being on a coin, and its depressing that he got booted off after just 15 years.
  17. sunflower

    sunflower New Member

    Not to contradict what has been already offered, but when hearing the phrase "Junk silver" I think of the 90% silver coinage dated 1964 and prior in the USA. (some later proofs are also 90% silver).
  18. BR549

    BR549 Junior Member

    The era from 1948-1955 is considered more valuable to collectors than the strikes from 1956-1963, especially the “S” minted coins from San Francisco. One needs to be aware that many, many Franklin half dollars have been dipped to increase the BU value. If done correctly, it does not hurt the value, but if dipped to many times, the luster is muted or they get a yellowish tint after time.

    Look forward to seeing some images. MS-60/61 Franklin’s in these years and price range is dealer cost, so I would assume the dealer you bought them from sold at a very low margin, perhaps to entice you to return.

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