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 Replies: 76 / Views: 10,673 |
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Moderator
 United States
188560 Posts |
My son will get it when he is 18 or old enough to understand they are for keeping, not selling. It will be up to my wife or executor to determine if he is ready before he is 18. He is almost four now. I hope to live long enough to make the determination myself.  |
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Pillar of the Community
United States
524 Posts |
My wife knows that my collection goes to my 6 year old daughter when she is old enough to understand it's value. If by chance she needs it before then I have made several list with values for her to refer to. As to where to sell it I'm not sure but since glenzy1 put the post up yesterday and said if I were gone today what would happen, I guess I missed the reaper for one more day.  |
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Valued Member
United States
421 Posts |
When my grand father passed my grand mother was left with a large safe containing his collections. She didn't do anything with them but will them to her kids. Only problem is my uncle her son decided to have it re-written all to him. So when she passed he got everything and dumped it at a coin store for what he could get. Even knowing it was worth more than that.
I am trying to educate my soon-to-be new wife in this area. I have started working with her 7 year daughter in the fun things you can find in your pocket change. Hope to get the new wife on board!
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Pillar of the Community
United States
1302 Posts |
My collection of coins, medals, and exonumia will be divided into seperate lots and sold at Sotheby's... Joe Sotheby's, booth 121 at the local antique/ thrift mall- across the street from Big Lots.
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Bedrock of the Community
United States
20753 Posts |
Now here is an interesting idea. For all those with no one to leave their coins to, no one they care to leave them to, no one in a will that would get them, we could start a new forum right here. A, I'll leave my coins to the members of this forum, section. Sort of like a will in a safe but posted right here. Not sure how many members there is to this forum but wouldn't that be a riot if thousands received coins from a will posted here?
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Pillar of the Community
United States
3283 Posts |
My wife threatens to cash them in for face value, my coin obsession tends to drive her nuts at times.  But really my kids will enjoy them |
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Rest in Peace
 United States
1380 Posts |
I worry about justcarl's first suggestion, that the neighbors would steal them all as I have norelatives within 500 miles. But if there were any left, I like justcarls second idea- leave them to CCF to share/auction/raffle/use for YN's, etc. I really like it.
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Valued Member
United States
306 Posts |
I've told my wife to keep all coins and guns to give to our son (now 6 months old). I've already started a box of coins for him that are his from the get-go.
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Moderator
United States
14463 Posts |
No one in my family collects coins, but I hope they would find an expert to ask. I need to make a will  |
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Valued Member
United States
158 Posts |
This is a topic that I've posted for discussion before (see https://goccf.com/t/97030), but I'll address it again here. Everyone dies sooner or later, right ?
My grown children are aware of my wishes, and I trust them to make good decisions regarding my growing collection. The eldest son has authorized access to the safe deposit box. Should I die tomorrow, he knows exactly what to do.
Everyone handles their "affairs" a bit differently. Some families (like our's) are pretty open and honest about estate stuff, others treat it like some kind of classified information only to be revealed in the afterlife.
My side of the family is very open about how the Family Trust is to be distributed upon my father's passing. There were lessons learned from trying to divide my grandparent's estate, which came with some surprises. My parents, to their credit, decided that there should be no surprises for us after they passed on. My brother and I know what the assets are and will have access to them all whenever my dad dies. Dad's only heartfelt wish - that we don't argue and quibble over "stuff".
Armed with the knowledge of just what the assets are, my brother and I were able to come to an agreement rather easily....matter of fact, we discussed everything while on a short ride around town on our mountain bikes. Done deal.
My point is this - whatever you decide to do with your collection (large or small), please do not burden your heirs with a veil of secrecy. Whether your estate or collection is a sizable one or just a few coins, being honest with your heirs allows them to plan accordingly and possibly avoid some tax liabilities. And no one (that I know) wants to be a burden on their children or heirs.
Soooooo.....Uncle Carl, it was great to hear from you ! I'll send you my contact info so you'll know just where to send all those funky old coins you got laying around ! 
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Bedrock of the Community
United States
11951 Posts |
I am sure this is a issue that many of us hope to be ready for.
If I die tomorrow .. I will not be ready. Just hope my wife and kids
will do the best they can.
We should all plan more as we get older.
Of course, I guess the size and value of the collection would have
a lot to do with what we should do with out collections.
For me I have really been trying to organize/catalog/inventory my collection.
Problem with that is I am adding to it nearly everyday.
What I should do with it, changes as the value of my collection grows.
At 20k to 30k it is not my biggest investment, but if I live another 20 to 30 years
and keep adding coins, it could grow into some real value.
I do think when I get closer to the end ... I would like to sell off all the common coins.
And keep just the rare coins, to pass down to my kids or grandkids.
I know I will have much more experience in selling coins and have more knowledge of their value.
If there ends up being someone in my family that is interested in coins as much as I am,
think about how much fun they could have, collecting the common coins, once they were left all the keys.
So back to .. what will I do if I die tomorrow ... at this point .. not be ready .. like most everyone else
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Moderator
United States
16679 Posts |
My wife has been educated by me what to do. She is incredible with finances so I have total confidence. God forbid we go at the same time, I've left strict instructions with two other family members.
swcoin.ecrater.com
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Valued Member
United States
97 Posts |
At 61, I want my 9 and 10 year old nephews to get them, with a letter explaining that they would be wise to hold the collections until they're 50. On 40 years the sets might appreciate a bit.
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Moderator
United States
14463 Posts |
I posted my answer before I read the others, but I like GO's answer Quote:
I have a note attached in my will with Susan's (Forum Mom) contact info. It gives my family an easy out if they want to sell everything I have. This sounds a good option  when I make a will. |
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Valued Member
United States
158 Posts |
I tell you what.... if you were to leave ME that car, I'd build a bigger darned garage for it !
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Replies: 76 / Views: 10,673 |
First Page
Posted 11/14/2011 1:28 pm
