1911 1 Dollar Bills 2 Of Them Unc

Well Rocky from reading your posts in the past I get the impression you've befriended some of those seniors through your genuine helpfulness and they've come trust you. Perhaps this particular gentleman has decided you're a person who will appreciate his collection and that's the reason he's made you the offer of buying his collection.

Not knowing the situation, but just a thought so that you don't find yourself in hot water later....
It's quite common whereby a senior sells things for a very low price, the family later learns about after the fact and the buyer ends up with threat of lawsuit or even criminal charges because it's perceived the senior was being taken advantage of. So you're very wise to involve a 3rd party. I'd assume you know this senior is of sound mind and once you've determined a value and the price you'll pay, you might also want to consider having a legal sales contract prepared, signed and witnessed.

thank you for the help. yes wildflowerAB. I have to agree. another example 5 large bead 1965 silver dollars. 30.00 for them. he told me last night he offered a antique silver place set. to his children they said can it go in the dish washer. he said no it can not. they said junk it. they said to him. sell your coin collection give us the money. I agree with you. wildflowerAB if I buy this I am going to get a third party to help me thank you. that would be the way to do this. I like the buyers contract yes

That's a sad family situation you've described. Spiteful, greedy children also make for higher risk that a finger of accusation may get pointed at you so recognizing the need to protect yourself is even more important.

In the situation you've described I can certainly understand a senior wanting to give away away lifelong collections in advance to someone like you, knowing it will be valued and appreciated for what it is. You also might consider asking this fellow to obtain "Independent Legal Advice" which essentially means a lawyer would talk to him to ensure that he understands what he's doing and that it's not going to cause him any future financial difficulty and then that understanding is put in writing, especially important if a significant portion of the collection's actual value will be "a gift" to you. It's also advisable for you to keep notes with the dates of the discussions that occur between the two of you. There also may be tax implications that should be consdered as coin collections are consdered "Listed Personal Property".

Good luck, and to add - it says a whole lot about your good, honest character just by the fact that you've mentioned your dilemma. Others, unlike you, would have taken the gentleman up on his offer as quickly as possible motivated only by big $ signs flashing in their eyes.

Good advice! Yes indeed, beneficiaries get all kinds of crazy notions in their heads about expectations of huge inheritances, only to find that's not the case. It certainly brings out the worst in people. I'm aware of a situation whereby adult children lived nowhere near, for years a helpful neighbour assisted a senior so she could live independently in her own home, buying groceries, shovelling snow, cutting grass, minor home repairs etc yet when she passed on the beneficiaries suddenly swooped in accused the neighbour of stealing all her money, even though they had absolutely no proof. A sad story of how kindness gets turned backward.

I can also think of examples whereby seniors choose to give some of their belongings away, certain family members get wind of it and then attempt to use the proof of the "gift" as a reason in petitioning the court to gain full control of their mom or dad's financial affairs on the premise the senior is no longer mentally competent. Therefore seniors need to protect themselves as well, when giving things away. Certainly there are other times when those type of concerns are legitimate and legal actions are taken to protect a senior from the unscrupulous. However it seems to me as a society in general we're leaning toward perceiving that all older people who give valuable things away must be somewhat senile even though "we can't take it with us". I suppose that's because money holds far more significance to younger generations who have not yet come to realize that money does not necessarily buy happiness.