X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

FRANKLIN CENTER, PA-Franklin Mint, the one-time leader of the collectibles market, closes its museum here and 30 company-owned stores, including its flagship at nearby King of Prussia Mall. Last November, the privately held company trimmed its Delaware Valley, PA staff from about 250 to 50.

Founded in 1964 as the National Commemorative Society by local entrepreneur Joseph Segel, Franklin Mint began as a maker of commemorative coins, which were sold as collectibles and often seen by buyers as an “investment.” Later the company expanded to offer thousands of products in 20 categories, which earned it top billing as the “king of kitsch” in the high-flying collectibles market.

In announcing the closings, Howard Lucker, VP and general counsel, says fewer than 50 employees will be retained by Franklin Mint, and the company will continue selling through its catalog and website. He gave no explanation for the rapid downsizing of operations. Published reports speculate that Franklin Mint’s slide results from diminishing interest in collectibles and rising competition from resellers, particularly on eBay.

The museum included a Star Trek room along with exhibits of the company’s icon and doll collections. Among Franklin Mint’s current products, made primarily under licensing agreements, are a $55 Princess of Wales porcelain rose votive holder, a $69 Stonewall Jackson pocket watch, a $195 “Always Marilyn” doll, and a $1,000 limited edition, 19-inch pewter replica of a Harley-Davidson classic motorcycle. Die-cast cars and porcelain eggs inspired by Faberge are company mainstays.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.