New To Coins. Inherited Mix Of Modern And Classics - Page 2

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Author	Replies: 21 / Views: 3,784	Page: of 2

CoinsKelly Pillar of the Community United States 3453 Posts	Posted 12/27/2014 09:29 am I posted this on your other thread, it is a compilation of all the wonderful advice you have receved. It looks like your brother had a wonderful eye for coins. https://goccf.com/t/167629 Report this Post to the Staff
Shaf2b Valued Member United States 149 Posts	Posted 12/27/2014 11:50 am Thanks so much all for the great advice. Report this Post to the Staff
westernsky Pillar of the Community United States 7624 Posts	Posted 12/27/2014 12:12 pm You have to decide if you want the coins, or the money out of the coins. If you want the most money then your best bet is the auction route. Yes, you'll pay fees but you have less worry. Local and national dealers will buy your coins but below "book value" (they have to make a profit and have overhead). Before selling anything learn everything you can about what you are selling. Do not make rush judgements. Think everything through before making a decision. Review any tax implications you may have to pay too. That part can get depressing real quick. Report this Post to the Staff
jimbucks Pillar of the Community United States 4692 Posts	Posted 12/27/2014 12:54 pm Auction is a good way to go. You will NOT pay fees for coins over $1,000 sold through Great Collections. From what you have posted so far it appears many of your coins have a value over $1,000. Report this Post to the Staff
Joe2007 Pillar of the Community United States 3843 Posts	Posted 12/27/2014 2:56 pm Quote: Review any tax implications you may have to pay too. That part can get depressing real quick. There might not be any/much tax due since this is an inheritance. Unless the items have appreciated in value since you got them. Might want to consult an tax professional to be absolutely sure. Report this Post to the Staff
paxbrit Pillar of the Community United States 992 Posts	Posted 12/27/2014 10:28 pm Do consult with a tax professional. I think selling them within a year or two of inheritance pretty much sets the inherited value, as opposed to keeping them for ten or fifteen years. You can, also, either have them appraised now or appraise them yourself during the next year and establish the basis of value that way. Report this Post to the Staff
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