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 Replies: 10 / Views: 3,356 |
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Valued Member
Canada
495 Posts |
Just like clockwork at a LCS not too long ago on the arm of a daughter, niece, sister or a caregiver was granny with a suitcase of coins and other goodies looking for a quick payoff of some poor guy or gal's collection that I presume like me and others was a labor of love over the years and ready to be dispersed like rose petals in the wind. I had to leave the shop after another dose of realty check from what I see all too often; not the dealer fault they are a business and alas, where do most family members go when "time to get rid of these things" that I hear them say at the counter. Lesson here is to have a plan while I'm still standing so I don't turn over....
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Pillar of the Community
United States
5825 Posts |
My wife has access to my collection AND the contact info of the dealer I recommend handle the disposition of my collection.
Since I'm older than my wife and haven't treated my body well over the years I figure that I'll be the first to go.
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Moderator
 United States
14463 Posts |
I plan to make a will to spell out what to do with my collection, since my family has no clue about the coins and notes.  |
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Pillar of the Community
1153 Posts |
I hate going to the LCS and seeing collections come in. I try not to get upset with the LCS for lowballing because I understand its a business. I just feel bad for the seller either they arent smart enough to know the value or don't care enough. Either way it hits me in the feels.
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Bedrock of the Community
Australia
21788 Posts |
All too often,
I hear of stories of abuse in various guises of the elderly at the hands of their children, grandchildren or their 'caregivers', motivated by the hope that they may obtain a special consideration before they die, or from their will.
In most happy families, gentle love rules but unfortunately,
that is not always the case.
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Pillar of the Community
United States
4963 Posts |
It's really too bad that dealers rip off the people who don't know what their coins are worth. If I was in the dealer's shoes, I'd at least offer the person a decent bit of cash. Like Fuzzy, no one in my immediate family knows anything about coins. My uncle collects, but he's about 35 years my senior. When I have kids I'll try and get them collecting from an early age.
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Pillar of the Community
United States
6478 Posts |
I'll probably giveaway most of my collection right before I die.
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Pillar of the Community
United States
1959 Posts |
Problem is, most people don't know when they will die. I have divided my collection as equally as possible. I have two boys. If they don't agree with my division, they can alternate choosing coins one at a time. If one wants to sell and the other doesn't , then they will have the option to buy the others at a "offered" price.
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Pillar of the Community
United States
1391 Posts |
I used to worry about this. If my family is too stupid to not even bother to look up what they have before they try to cash it in it is their problem. In this day and age you can find information pretty quickly using the internet. By the time I die every smart phone will be the size of a grain of rice and will have a computer that makes the Star Trek Enterprise computer look like a dunce. So if they can't be bothered to say, "Computer, how much is this worth?" it is their problem.
I used to complain about dealers ripping people off, but what it comes down to is that I think most people that are complaining about it just don't know how expensive it is to run a business. A common complaint is that someone comes in to a shop, the dealer lowballs the item and someone sells. Then the dealer turns around and sells it five minutes later with a phone call. Well, it took years to build up a reputation and a network of clients (and we are not even mentioning the knowledge needed here). Just because you see the five minutes of work that made a grand doesn't mean that is all the is involved.
Now I feel like I have to point out I didn't say there aren't any dishonest dealers, because someone will come along and say that.
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Valued Member
United States
245 Posts |
I have a fairly large collection after collecting for nearly 50 years and my two sons know what it is and have knowledge of coin collecting. My Daughters are clueless and at least one of them would probably run to the nearest coin store to sell the part she gets. So be it as I will be gone and I am not going to worry about it now.
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Rest in Peace
United States
18456 Posts |
I wrote a bunch of information in a small loose leaf book about my coins ;values ,grades ,quantities ,buy ,sell ,when & where. I also have an updated inventory on most of my collection. As it stands right now my 50+ year accumulation has to be divided by 4 grandkids. Good luck to my Daughters .  |
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Replies: 10 / Views: 3,356 |
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Posted 12/02/2015 07:45 am
