What Happens When You're Gone?

I have often thought about this subject, recently. For no good reason, I hope I still have plenty of years left. I have no children, and probably never will, so that rules out that option. Both of my brothers dabble in collecting, but wouldn't be able to handle a collection of my size. I have thought about "adopting" a young collector, to mentor, and then give my collection to, when the time comes, but then the sinister part of my mind moves to all of those tv shows, where the young wife gets into the will, and then kills off the old guy. Oi vey, what to do?

FordF150: So your an old man of 70, HUH? WOW are you old. OOOPPPS. Hey me too. Germany, HUH? My parents too. Starting to sound like a mirror situation. Glad to hear you didn't end up like me with all those CANCER operations though. They sure do hurt. Came out of the hospital with 4 tubes and 4 bags hanging out of my abdomen. YUK, what a mess. And they had to be rinsed twice a day. Naturally I had a nursing service come and do most of that. And Chemotherapy? Wow does that stuff suck. One nice thing is you don't have to worry about combing your hair.
One odd thing about coins and Europe is I sent my Son through college and one of the things his college did was to do a swapping thing with other countries for a semester. My son went to the University of Krakow for a semester. However, part of the deal was to land in Belgium and hike, bus, etc accross Europe to finally get to Poland. Naturally part of the trip was through Germany and guess what he found there. Relatives. So on the way back he stayed there for several weeks and really had a ball.
Back to coins. While my Son was in Europe and knowing I collect coins but no idea what kind he started sending me coins from every country he could find. I ended up with hugh boxes of foreign coins that in many instances I have no idea of what they are. I put the ones that looked expensive in 2x2's but mostly just in plastic rolls if they would fit. Many had Hitler on the German ones. I don't think he got those in change. I never wanted to embarras my Son by telling him I don't collect those things and don't even know what they are so I just let him keep on doing it. It was the thought that counted though.
Just one more thing someone will probably have to do something with someday.

Hopefully when I retire I will sell all my key dates and all my high end stuff. The rest I will keep to play with and look at till I die and then who cares what happens to a couple thousands dollars worth of coins. But if something happens to me before that ive left instructions empty both boxs and call my good friend who is a long time coin dealer. Hopefully he wont cheat my family ,alot of the key dates and high end coins were bought from him origanally.

We will probably wind up leaving our entire estate to our church when we pass, I am real involved in the teen ministry there and would love to see it help them out in that area. Of course, that might not be the best way to go, as I doubt they would know what to do with it.
Jim

Nice idea for sure Jim. However, if that is the way your planning on, I would suggest you discuss this with whoever is in charge there. Possibly there is another member of your church that IS involved with coins so if the church ended up with all your coins, someone would know how much they are worth, how to either sell them or allow church members to bid on them. Sure beats some weirdo neighbor or freind getting their hands on them.
Note to Homer1. When I first found out about CANCER I began contacting every so called society that collects money for CANCER research or whatever. I sent out numerous letters and all I ever received was more letters requesting donations. NO HELP, NO NOTHING.
To this day I still constantly receive letters requesting more money and I send them all copies of my original request for information and/or help. Then just more letters requesting money.
I'd rather throw my entire coin collection in the Lakes than let them get their hands on them.

I have read all the posts on what can be a morbid subject, however, one must face facts. One day we wuill be gone, and the one(s) who will have to deal with our "pride and joy", often our collections, unless there are kids involved. ten we have to figure out if the one who will receive the collection will know enough about it to take advantage of what they have in hand. Maybe continue what "gramps" had started, and make it even more complete. Or sell it to make a wild trip to "Vegas"? Not to worry. Because we who will depart from this world, will begin live in a new world, as yet unknown to us. Maybe our knowledge of collecting coins, stamps, wives, no lets let that one go on by, maybe there will be "coins" there to collect! Whereever that is, may we all finr happiness in having done the best we could in the life we left. Homer1, Thanks for your kind words, and to those of you who are "REALLY" old farts, like me, and aren't shy about telling your age, think of it this way: We have LIVED!" Some have to live with the conditions that each of you must do. I am lucky in that my medical problems are not serious enough to wonder if I will make it through the night. In soite of my age, and general jealth condition, I am "disgustingly healthy! Cancer? my wife had cancer in 1972, wnet thru the Cobalt 60 treatments, and no results Drs said go home gor three months, and come back foe a coomplete Hysterecomy. So much for having any more kids. We wanted one more to balance the nymbers. We had three, two boys, and a girl. We wanted another girl, but mother Nature decided we would not, (Yey). She was given a 36-hour raduim omplant, and then went before the board. The DRs then gave her a week off, and then a 48-hour implant, after which she agaon went before the board. The decision: Go home foe three months, and come back for a "check-ip!. It was six months before she was ablre to return, and the told her, ,ake the next one six months. She did, and was told to come back for an annual check-up! She was a nervous wreck, with all the medications, for the effects of a "forced <enopause", but she made it thru, and the 19th of this month, we will celebrate 53 years of marriage! We were marreied three times, In Ax, in Mexico, and in the church! I wanted to make sure she didn't get away! She does not share my coin happiness, but "puts up with it, because it has, nor had it ever affected the familys lifestyle. She knew when my firdt collection of mexican coins went to "feed the kids, that it would not be problem in the future. nor has it. There are no collectors in my family, so I face the saqme questions as you younger collectors. What to do when and for whom? My wife is not interested in what happens to the coins, as she is practical, and thinks they will be taken care of properly, , in accordance to the needs of the recepient. My thought is to possibly leave it to my favorite forum, for the benefit of the YN'swho are also members, to enjoym and acquire from the site. I could do worse, like cash it all in for face, and go play the "slots" I have said I am 83, not exactly the truth, but close. I WILL be 83 on Halloween, so all you kids can do what kids have done for many generations: Help me celebrate my birthday! "Trick, or treat"! I am not going to edit this, because it is hard enough, just finding the keys to type, without trying to reat text that is tpp small to dictinguish one letter from another. I suffer from Macular Deterioration, Danaged retina, and so I have no frontal vision. I see to the side, but not forward. Like I say, I can see all around me, so why won
t they let me drive? Oh yes! "Gangway, there comes Dick"!On his way to the bank for another box of coins! I intend to enjoy them while I can. The "necxt in line", can worry about what to do with, because Then I wont give a"HOOT"!
Dick

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There is a way you can gift up to a certain amount without incurring any taxes. (I think it used to be $20,000 per year)

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I think a $12,000 gift from any single person is not taxable. Conceivably a husband and wife could give a combined $24,000 to any individual. The number has changed several times over the past few years so don't use me as your tax guy.

As far as my collection goes...all collections are eventually sold. I'm not going to kid myself and think that mine will be any different. If my kids sell it and use the cash to do something they like, that's fine with me.

JustCarl, I brought this very subject up with my pastor a couple of weeks ago. There is no one in our church who knows squat about coins and no provision made as to know what to do with them if they were donated. Probably would not end up with anywhere near their real value. I've talked to our kids and there is no interest there at all. So I've 99% decided to let my pastor have them. He is 27 with two babies and a wonderful family. This will help with their college education. I told him I'd like him to have them and hold them until their college age, and he is agreeable with that. However, if I am still living when they go to college, guess I'll have to figure out something else.

Our three children are coin collectors. Several of the grandkids also collect coins.

My hope is none will sold, and all will remain in the family.