Word: minting
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Dates: during 1970-1979
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JOSEPH M. SEGEL, 41, Merion, Pa., president of the Franklin Mint, Inc., a manufacturer of commemorative coins and medals. Gifts: Nixon...
...Franklin Mint, near Media, Pa., started the big market for limited editions (TIME, July 12, 1971), and it has done so well that last year its shares were one of the fastest rising of all on the American Stock Exchange. In eight years, Franklin has advertised its way into the homes of 500,000 subscribers, most of whom have bought one or more series of silver medals. Among its new editions this year are the Presidential Journey to China Eyewitness Medal ($15) and the Signers of the Declaration of Independence ($9.50). Franklin officers expect sales to rise from $59 million...
Many of the newcomers to the market are subcontracting the manufacture of the medals and plates. Danbury Mint, for example, commissioned the Medal-lie Art Co. to produce a $48 silver campaign medal with the profile of Richard Nixon on one side and George McGovern on the other (voters undecided between the two would then presumably be able to flip a coin). To raise funds for the National Audubon Society, the Franklin Mint made silver plates decorated with etchings of birds. The mint recently started a series of presidential plates for the White House Historical Association. Medals produced by Franklin...
Last winter the U.S. Mint in Philadelphia turned out between 20,000 and 100,000 pennies that were lucratively flawed. As Mint officials now reconstruct the error, workmen on two shifts had improperly cast a die, and the pennies came out with a shadowy double impression of the words In God We Trust and Liberty, a sort of minute stuttering effect...
...mistake, the first such defect in U.S. coinage in 17 years, is the sort of accident that numismatists love. The Mint in fact knew nothing of the bad pennies until two of them were sent in by collectors asking if they were valid coins. Now some collectors have placed ads in Coin World offering $95-$125 for one of the pennies...