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 Replies: 25 / Views: 3,504 |
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Rest in Peace
United States
18456 Posts |
In the very beginning I said I'll hand them down to my grandkids. but lately that doesn't look like a good idea as none of them has an interest in coins. nor do I know anyone that does. It's like I collect
samples of the black plague or something.
I think I'll have my family set up an auction at my wake, YEAH, SOUNDS LIKE A PLAN. lol
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Pillar of the Community
United States
992 Posts |
I know one collector who is taking a portion of his collection and slabbing it up, it's going to reside with his attorney in some kind of trustee storage for a few decades, then be given to some descendents. His idea is that the value of some of his stuff is going to be much greater than if he sold it now. I think he gave the attorney a couple hundred bucks to shove it in the back of a safe and have it inventoried now and then.
The rest of the collection is being sold off bit by bit, he may get it all done before he's gone.
I'm kind of doing the same thing, but with banknotes. I recall a stamp collection, purchased as new issues in 1938, it was kept in trust until 1988, then given to some grandkids. They made a down payment on a house with the proceeds. Since then, houses have about doubled in value up here, they must have made $250,000 or $350,000 if they kept it.
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Pillar of the Community
 United States
604 Posts |
Quote:
Hopefully be able to sit in the auction room with a cold beer in my hand and laugh at the stupid amounts it will all bring. I like that idea!  |
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Pillar of the Community
United States
898 Posts |
I would probably gift it to numismatic friends who I meet over the years to come. I want it to be appreciated by someone like it was for me. Hopefully that would be a relative, but if not I'd rather give it to a collector than a relative who likely will sell for the instant cash
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Pillar of the Community
United States
797 Posts |
I put family, even if they are not coin collectors themselves I would hope they could find it as a nice heirloom knowing that it was something I really enjoyed. They can certainly sell or give coins to their family/friends and do what they will, but I think they will at least keep a good portion of the collection in the family (especially knowing that my grandfather, then father, then me had the collection and added to it over time).
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Pillar of the Community
United States
1192 Posts |
Well if I died today, it would be passed to my parents and prob kept as a slightly morbid shrine :/ before being passed to one of my sisters kids when they grew up.
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Bedrock of the Community
Australia
21788 Posts |
I have already discussed this subject with my two adult children, who are:
the only beneficiaries of my will,
the joint executors of my will,
joint power of attorneys and
joint enduring guardians of myself, in case I go 'Ga-Ga'.
They have already agreed to pick alternately what they would like to keep out of my collection for themselves, to auction the rest, and split the proceeds equally.
When my will was drafted, it was done in a round table family conference in front of a lawyer, who wrote the documents under joint instruction of us all.
Can't get much more transparent than that!
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Pillar of the Community
United States
1662 Posts |
My collections already belong to my first born son. I'm just the curator!
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Bedrock of the Community
United States
20753 Posts |
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Send it to me carl and I'll look after it, especially, those 10 sets of Lincolns....  I'm more worried about someone taking my 12 sets of Mercury dimes and dumping them into a coin counting machine or a bank. Imagine someday someone opening a roll of Dimes and finding an entire roll of all FSB coins. |
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Moderator
 United States
189473 Posts |
I will keep it until I pass away, but will leave it to a family member.
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Replies: 25 / Views: 3,504 |
First Page
Posted 04/11/2015 7:36 pm
