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 Replies: 58 / Views: 8,260 |
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Pillar of the Community
United States
5855 Posts |
Wait, who said I planned on being "gone" some day? I don't recall ever agreeing to that!  Seriously, though, my wife only lets me spends so much on coins because I have convinced her they are a good investment and I can sell them if we need the money in our retirement. So I'll either sell them as promised or, assuming we don't need the money to live, I'll hand them down to my son. He's only 9 right now and is interested in them, but who knows what the future will hold. Hopefully, he will cherish them and want to continue adding to the collection and passing them down to his child(ren) some day, but if he decides to sell them all for a quick buck I guess that will be his right. I won't be around to worry about it, obviously. Edited by barryg
11/25/2014 1:20 pm
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New Member
United States
22 Posts |
I'll have my wife and/or kids auction my entire collection on ebay :) one shot, someone gets to incorporate my collection and my family gets the value! |
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Pillar of the Community
United States
964 Posts |
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This subject comes up more often than you think. For me it's simple. Probably my entire collection will be dumped into a bank or coin changer. No one I know is interested in coins. My kids have no interest in them at all. And being alone, makes it all worse. When and if I pass, someone will probably break into my place and grab all the coins and take them to a bank.
Could leave a will but for what? Who would be named in it? No one I know cares about coins at all. This is something to think about. Possibly just start dumping or selling them all as you get older. I've been collecting coins for well over 60 years and sure is a horrible thought where they all might end up.
Since in your case there are some people around, just make sure they understand to try to keep them for someone in the family that might care someday, maybe.
Not meaning to make this a long reply but a neighbor of mine collected model planes for close to 80 years. When he passed away, a relative had a flea market person come in with a truck and haul all of his collection away. AND they paid him to do that. Just Carl. Can you I'm me your address and when you think you'll kick the bucket!!  I kid, I kid  |
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Pillar of the Community
United States
964 Posts |
On a serious note. My collection will go to my grandchildren. I still get coins every Christmas from my Grandfather's Collection. (He's been gone 27 years) Here is what I wish. I wish I could have 1 week to ask him about his coins, why he collected what he did, where he got them, how excited he was when he got a coin, how much did he buy them for, Which is his favorite coin?
Just typing that gave me chills. I need to do a video for my Grandchildren someday talking about how I came about the coins I have in my collection. Someday......I'm 37, I've got time........God willing
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Pillar of the Community
 Canada
5394 Posts |
I hope to be able to sit in an auction room with my wife and watch all of our inventory sold to happy collectors or dealers. Then we will take the money and travel the heck out of the world as best we are able. When we are done with this world, any remainder will go to the SPCA, as furry creatures , especially cats have given more joy and love that one deserves. That will be a coin collection/inventory well disposed of.
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Bedrock of the Community
United States
20753 Posts |
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Just Carl. Can you I'm me your address and when you think you'll kick the bucket!!
I kid, I kid Actually would not be a bad idea to have it in my will to just give the entire mess to an existing collector. Not a rich one but someone just starting out. |
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Pillar of the Community
United States
964 Posts |
 Let the "Just Carl" Sweepstakes begin  Edited by Mr Click
11/25/2014 12:57 pm
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Valued Member
New Zealand
72 Posts |
with the exception of all the coins I have detected (family keep the predecimals, the nieces can have the big box of decimals) I would be happy if my wife sold my collection to help her out as much as possible. My war medals belong to my family and I have asked these go to the war memorial museum
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Rest in Peace
United States
18456 Posts |
I'm a senior citizen and have been thinking about this a long time. I have 3 girls in their 30s neither one has an interest in coins. however at this time I have 4 grandchildren whom I have decided
to pass down my collection to. some how or other it will have to be divided evenly amongst all of them.
but not until each one turns 21 years old. and yes this will all be in writhing.
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Pillar of the Community
United States
655 Posts |
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Actually would not be a bad idea to have it in my will to just give the entire mess to an existing collector. Not a rich one but someone just starting out. I like that idea. If the person you give it too in turn does the same then the collection will continue to grow and remain in the hands of someone that cares. Edited by NJ Bob
12/18/2014 6:45 pm
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Valued Member
Canada
158 Posts |
Some good responses and ideas here. Me? I'm only 39 so hopefully still have a year or two to consider my options lol. I have three kids and have been assembling individual collections for all three of them for several years now....and they have no idea about the collections either. I'm hoping when they are mature enough I can turn them over to them to see if they have any interest. Maybe it will have sentimental value when they realize dear old dad has been working for years to build it for them and might make them want to keep it just for that reason....might even light a little collecting spark hopefully. Anyways, once I hand it over to them, if I see an interest my collection will go to them. If not, then it will be sold at auction upon retirement so we can enjoy they years of saving. If I happen to take the dirt nap before that time, my wife is under instruction to give the kids their collections as a memory of dad and to sell the rest if the kids aren't interested. If we go together.....well, guess it'll be up to the kids. At any rate I am enjoying them now while I have them :)
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Pillar of the Community
United States
604 Posts |
I have been avidly collecting for over 37 years now. I also have some family members and close friends (neither of which is into collecting in the least) that know how extensive it is. Quite a number of them are assuming that they're going to receive it all when I pass.
However, little be known to them, I'm planning on selling it all when my wife and I retire.
The two of us then plan on spending our golden years down in Costa Rica!
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Valued Member
United States
187 Posts |
If I don't want to or need to sell my collection in my retirement years, I will have it in my will that it gets sold at a well known auction house, and the money divided up to the family members I choose.
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Pillar of the Community
Canada
1751 Posts |
These are all inspiring ideas, especially pacific coins plans - I like it the most. I think it's the best way to thoroughly enjoy a collection and still benefit from the financial input, as one gets older. The icing on the cake being animal who cannot provide for themselves will benefit!!
This way there's no squabbling among relatives and friends over who got more. There's not a stampede by heirs to the local pawn shop, to do a speedy dump. A person can always give select pieces to chosen recipients prior to the dirt nap.
This Christmas I'm giving a few common silver coins as gifts. This way I will know who has an interest in collecting, and possible start someone on the road to collecting.
I've probably got 25 yrs before facing what to do with my collections. I think I will follow pacific coins lead probably for 85% of it. Currently I'm deriving great pleasure from my collection!!
However, when interest wanes, it will be time to downsize to 30 - 50 desired pieces and disperse the rest. This way I will still have a small collection to enjoy that's not taking up much space and is portable. My current collection is taking up a third of my bedroom and it's difficult to find specific pieces.
Edited by pocket change 50
12/21/2014 6:28 pm
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Bedrock of the Community
United States
17884 Posts |
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Actually would not be a bad idea to have it in my will to just give the entire mess to an existing collector. Not a rich one but someone just starting out. This isn't a great idea either. Think about it. They have an interest in coins but not a lot of money, and then someone give you an extensive advanced collection. You now have some great coins, but not the financial ability to add to it in a meaningful way and they won't for many years. What does that do for them? |
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Posted 11/25/2014 03:32 am
