Franklin Mint Purchased By Private Investors

The Franklin Mint has been sold to a group of private investors.

The mint that makes figurines, commemorative plates and jewelry was once the world's largest maker of collectibles, but it's waging a battle against changing consumer tastes.

The Los Angeles-based Roll International Corporation has sold the mint to a group led by executives from The Morgan Mint in Hicksville, New York.

Among the new investors is Hollywood producer David Salzman.

The purchase price was not disclosed.

Morgan Mint chairman M. Moshe Malamud says his group reached an agreement with the previous owners, Roll's Stewart and Lynda Resnick, last year. The sale closed August 31st.