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 Replies: 17 / Views: 3,805 |
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Valued Member
United States
379 Posts |
I mean we all have to die, are you concerned that your collection, which has your heart and soul and $ and emotions into it, when you, eh, hmmm, "pass on" (we can't say "die" anymore, too tramatic and non p.c. for the younger crowd), to completely ignorant and unappreciative of the value and of your efforts to collect your stash, who will just sell it immediately at any price, just to "get rid of it"? ... to get whatever cash they can get out of your dreams? in all fairness, you will be gone, but what about history and uniqueness and such?
you know, like they got your treasured collection from "a crazy obscure uncle"?
mike Edited by 4504
11/26/2016 9:54 pm
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Pillar of the Community
United States
513 Posts |
not too concerned. I mean, like, I won't care at that point, eh?
I've left instructions, references, resources, etc. in a safe deposit box, so I've done what I can. But I can't be too concerned at that point about what my uncaring relatives do with the crazy uncle's collection. Hopefully it will somehow end up in collectors' hands, but how it gets there----eh.
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Pillar of the Community
 United States
2843 Posts |
As a buyer, I secretly wish that your collection does just that.
Sorry to be so blunt, but I cannot afford to pay ridiculous retail prices.
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Valued Member
United States
467 Posts |
I'm not concerned what will happen to it when I die. Not only will I be dead and likely not concerned about some old coins, but nobody I love has any interest in coin collecting. In fact, I don't think anyone has any real interest in collecting anything at all.
Besides, my effort, energy, heart, soul and emotion that I put into it...it was for me. No one else. It wasn't like I was collecting coins for the betterment of my heirs. It was for fun.
In fact, I plan to sell my whole collection before I die. I want to have some fun with the money and my kids and grandkids don't want a bunch of coins anyway. Well, maybe the grandkids-- they are too young for me to know if they will be into collecting or not. At some point, I may say to myself, "I want a boat (summer home, etc.) more than these darn coins" and just sell them anyway.
If my coin collection manages to survive my own disinterest, I know for a fact (unless those grandkids prove me wrong) when I die my heirs will sell my coins. I can only hope that with a few instructions (i.e. don't go to a pawn shop, lol), they will at least do as well as possible.
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Bedrock of the Community
United States
11951 Posts |
I have a daughter that is interested in coins, she even
calls to talk about the coins she is buying.
I will pass down a good amount of coins, but plan on selling
a good amount .. for something to do in my golden .. and silver
years.
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Pillar of the Community
United States
4333 Posts |
I agree with OP's, when I'm gone, I'm gone, won't care about a collection, and I'm a pack rat as far as my collecting goes. Also, no one I know collects anything, seems like there is just tunnel vision towards life...it's work, football, eat, sleep, shop, consume, that's all folks -
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
Canada
5246 Posts |
I would hope that the heirs, in their best interest, try to get the most when they sell it.
If our heirs don't want to spend a bit of time and research to get double or triple their money, there is not much that we can do, and frankly if that is their attitude we probably should not care. Once heirs have the money, it is theirs to waste or use wisely. Would it make much difference if your heirs blew $10,000 or the $30,000 they should have got from your collection?
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Pillar of the Community
United States
1609 Posts |
When I die, I'll let three quarters of my collection go to family, but the last quarter, I'm putting in a safe, covering the safe in concrete, and burying it. I want it to be found by some future treasure hunter. I'm a strange child, aren't I?
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Rest in Peace
United States
18456 Posts |
I think I would like to be buried with all my coins . The only problem is the coffin will have to be a steel storage container and welded shut after my coins and I are placed in it . ( don't want no grave robbers ). seriously , I'm in the same boat as most of you guys , my life long dream was to hand them down to my grandchildren ,but none of them show any interest in coin collecting .  |
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Pillar of the Community
United States
3343 Posts |
Years ago I talked to a dealer about what he had seen over the years. He said that most people's collections were just "accumulations". This was a guy who spotted fine pin scratches for me on another dealer's 1795 VF cent and recommended getting it into an ANACS slab to verify. He had also swapped a full set of Morgans (minus the 1895 - they were all VF and higher) for krugerrands, so didn't have a lot of sentimental attachment to coins no matter how good they were. He was cranky, but I generally got good advice and fair grading from him.
After my dad died, I liquidated his collection of modern US proof sets. Almost all of the value came from the gold and platinum, and only because of the intrinsic metal value. It verified what the dealer had told me earlier about accumulations.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
11/27/2016 09:02 am
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Pillar of the Community
United States
2130 Posts |
I am still relatively young (mid 30's). I "plan" on liquidating most of my collection when I retire if my kids do not show a true interest in the hobby. I feel I can sell them for true value where once I am gone it will be a burden for my wife and she will not be able to get true value. Trust me, I understand that life is unpredictable. If something tragic happens unexpectedly between now and retirement my wife knows one of my friends that would atleast know how to help her liquidate the collection. He is the only friend I have that would have a clue where to start. None of my other friends would have a clue....
Anyway....This is a depressing thread!
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Pillar of the Community
United States
4211 Posts |
My son will ditch all my albums for sure.
He will most likely keep some of the type coins, gold coins and silver bullion.
Anything else in the collection will be sold but he is more educated than some as I have been taking him to coin shows off and on since he was 8 years old.
I am pretty confident he will come out at least "ok".
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Valued Member
United States
105 Posts |
Each of my prodigals are going to inherit an Air-Tite Holders 30-H (ALB) album with thirty Silver Shield Shekels, the significance to which it is hoped they will not be oblivious.
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Pillar of the Community
United States
3343 Posts |
I don't think it's a depressing thread. I collect what I like, on impulse a lot of the time. I've got some rare foreign coins, which are not worth much other than to specialists. I don't expect my heirs will care about them in the least, and my treasure will get yard-saled away to become someone else's treasure. It was thrilling to find an 1846-K French franc in a junk box, but unless someone knows what it is it'll end up in a junk box again for someone else to find.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Valued Member
United States
83 Posts |
I spent months trying to sell my father's book collection, as did my sibling. Never found a buyer.
If you care about your heirs getting full value for your collection, make arrangements yourself before you pass for its fate.
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Pillar of the Community
United States
1450 Posts |
I can tell from my own experience that if your heirs live close by to you it will be much easier for them to sell your coins for decent price than if they live hundreds or thousands of miles away. My unmarried cousin died and she lived about 500 miles away. It was a pain in the butt to liquidate her estate and we got robbed to an extent. I was not handling that part of it, but I did make some long car and air trips trying to do the right thing. She had a great house and great furniture, but her mother had old timer's disease and I was employed full time so I just could not do it all the way it should have been done to get full value. She had a heck of a book collection that got sold for peanuts.
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Replies: 17 / Views: 3,805 |
Posted 11/26/2016 9:49 pm
