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 Replies: 58 / Views: 8,253 |
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Valued Member
United States
327 Posts |
I'm only 49 but I have to admit, I have been wondering lately what all my hard work will amount to in the end. I have two teenage daughters and we just adopted a 3 year old. My two daughters have absolutely no interest in collecting. They use to help me go through half dollar rolls looking for silver back when they were pre-teen. I started a Lincoln Cent collection for each of them with a few already in place but no, they just have no interest. So what will become of this collection of mine. Will it stay in the family and will someone continue working on it? I would like to think so but I am not very hopeful. There is a higher likelihood that it will end up sold to a pawn shop for a fraction of the price. What I am doing now is using a program called Exact Change and keeping track of each coin along with photos of the coins and receipts. I'm even taking photos of the ebay invoices. I often see posts on the forums of people who have inherited a hoard of coins in jars and what not. I could understand someone's reluctance of having to research a bunch of coins they have no interest in. I figure by storing all of the information, I have at least a chance that one of my kids or grandchildren or great grandchildren will find my collection along with a flash drive of all of the information. Of course, by the time they get the flash drive of the file, the original program will probably be long gone and it won't be able to be opened. LOL. So who's hand will your collection end up? |
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Bedrock of the Community
United States
20753 Posts |
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.
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Pillar of the Community
United States
1795 Posts |
Johnstac I agree with you, I also have 3 daughters with no interest in collecting. As one daughter recently told me when I told her what I was collecting and what was important to me in my collection. She said "Dad why don't you get rid of what you really don't collect anymore, thats less we have to worry about getting rid of." Not knowing how to take that I just kind of said maybe thats a good idea. To make a long story short I eventually did and ended up buying a nice gold coin for my commemorative collection. I do have all of the prices that I paid for the coins in my collection and what they should be able to sell them for and have told them where to sell them ( ebay) it will take some time but they will realize more profit that way. Hopefully if God willing I won't be taking a dirt bath for a long time. Enjoying playing with my coins as my lovely wife wife says. |
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Pillar of the Community
United States
1158 Posts |
Honestly? Who cares!? I'm dead. I'll either be in Nirvana without a concern for earthly things or my conscience will be snuffed out and I'll be incapable of caring.
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Pillar of the Community
United States
1795 Posts |
@tkbsic interesting point if you look at it that way! he he!
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Pillar of the Community
United States
5825 Posts |
I'm turning 73 next month so this topic has been on my mind for a while.
MY DECISION: I will pass the collection on INTACT most likely to my wife (I assume she'll outlive me).
Since the important parts are slabbed (NGC or PCGS) authentication/grading will not be a problem.
And I have a VERY trusted dealer; she knows who he is.
I know he will give her the best value possible.
Case rests.
Edited by kanga
11/20/2014 10:48 am
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Pillar of the Community
United States
509 Posts |
I don't have a large collection, but I've started showing my young daughter (2.5) a coin or 2 (ie: baseball commemorative or ASE) and calling it my special coin and playing games like don't tell mommy about daddy's special coin. She asks to see my special coin now, not sure if this will spark a coin collecting interest, but figured it wouldn't hurt. I ask her if she wants me to give my special coin to her or her baby brother and she says she wants it. She's young, I'm sure it'll all change. |
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Pillar of the Community
United States
1745 Posts |
just carl Quote:
Could leave a will but for what? Who would be named in it? Maybe leave to CCF for support of this forum for many years to come. I think many of us would love to bid on your Mercury dimes. |
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Pillar of the Community
United States
604 Posts |
I would like to see my collection passed down through the family from one person to the next. Ultimatly it will be up to the individual(s) I leave it to and I will no longer have a say in what happens. I collect coins because I enjoy doing it, not becuase I want the next family memeber to continue on the collection.
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Valued Member
United States
331 Posts |
Quote:
tkbslc Posted - Today 42 Min ago
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Honestly? Who cares!? I'm dead. I'll either be in Nirvana without a concern for earthly things or my conscience will be snuffed out and I'll be incapable of caring.  |
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Bedrock of the Community
United States
17884 Posts |
i don't have anyone to pass my collection on to either. One possibily I have considered is to have my entire collection sealed into individual 2X2 envelopes with no identification on them, just a number. Then donate them to a local club with the instruction that at their annual coin show they let youngsters draw a number and they get the coin envelope with that number. Envelope may contain anything from a Wheat cent worth 2 cents through a chain cent worth thousands. Collection is large enough they could do this for decades. |
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Pillar of the Community
United States
2589 Posts |
My vast collection of notes will be used as fuel for my funeral pyre!
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Rest in Peace
United States
7075 Posts |
I've only been at this in earnest for a few years and the collection is getting rather large -- not especially great, but it's taking up a bit of space.
I have kept notes on what I Found in change (along with what the premium might be) and what was Bought (along with what I paid for it.)
The nieces and nephew will have to figure out the rest, I suppose. I hope that the notes I've been making help them.
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Bedrock of the Community
Australia
21786 Posts |
You can't take them with you, I definitely wouldn't want to, even if I could.
I have already given some of my collection to my kids, to do whatever they want with them.
The total value of the remainder my collection would be around $50,000. More than half of that value would be in coins over 1,000 years old, all cultures.
That makes it an auctionable collection.
After my wife died, my kids became the joint executors and sole beneficiaries of my estate.
They can make up their own mind which coins they want to keep, and which coins they want to auction, to split any money received from auction of the remainder of my collection.
They each DO have an interest in keeping some of my collection, but that is up to them, and that is their business.
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Pillar of the Community
United Kingdom
856 Posts |
Mine will either melt or go to the bottom of the lake as family push me out in a burning longboat whilst carousing and drinking all the ale ... Oh, hang on. Now Wifey says I'm to go in a basket in the woods ... make up your mind woman! Ah, waste of a longboat .. got it. Either way I hope family will have enough sense to contact one of the other collectors I'm in touch with and arrange a sale ... me, don't suppose I'll be too worried.  |
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Pillar of the Community
United States
1911 Posts |
All these humbling posts about a serious topic with many not knowing what will become of their collections... and I keep thinking "I am always available for being given collections". :D But on a more serious note, I would like to think my wife would sell them on ebay. My collection is not very big at all so far (totaling around $700 w/ half of that from Wedge Tailed Eagle coins) but it would still be worth a little something to help my family later on. Hopefully, though, I won't have to worry about that for a long time, seeing as I am only 22 right now. Either way not too worried about it though. |
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Replies: 58 / Views: 8,253 |
Posted 11/20/2014 10:23 am
