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 Replies: 16 / Views: 3,600 |
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Pillar of the Community
Canada
2845 Posts |
I just wanted to share this published story for interest sake. It's a discouraging "virtually worthless" sounding tale from the perspective of a lifelong collector and I suppose the same could be said for the family members who eventually located "the treasure". On the other hand it's an excellent example of why collections should be documented for estate purposes. The Bank Job: A death in the family sends a couple on a journey to crack the case of the unexplained keys JULIE VAN ROSENDAAL, SWERVE Updated: June 22, 2018 http://calgaryherald.com/life/swerv...plained-keysEdited by wildflowerAB
06/23/2018 3:07 pm
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Rest in Peace
10197 Posts |
My solution, I know you can't "take it with you", but nothing says you can't be buried with it! Then you'll have to see what bright excuse my idgit relatives have for exhuming my body!   And besides, think of all the bank deposit fees I will have saved keeping the high value stuff in my own secure safe...  Edited by Crazyb0
06/23/2018 3:51 pm
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Pillar of the Community
 Canada
2845 Posts |
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My solution, I know you can't "take it with you", but nothing says you can't be buried with it! Then you'll have to see what bright excuse my idgit relatives have for exhuming my body!
And besides, think of all the bank deposit fees I will have saved keeping the high value stuff in my own secure safe...
Sure, now that's an alternative to consider, close as taking it with one as it can get....   |
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Moderator
 United States
34408 Posts |
Interesting story--thx for posting the link. Good documentation seems to be the lesson.
"If you climb a good tree, you get a push."
-----Ghanaian proverb
"The danger we all now face is distinguishing between what is authentic and what is performed."
-----King Adz
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Bedrock of the Community
Canada
24885 Posts |
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. Good documentation seems to be the lesson.  with you. |
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Rest in Peace
United States
17900 Posts |
If you don't care about your collection enough to produce a good inventory, why bother?
Although it chimes a few bells, I've always said the main difference between a collector and an accumulator is said inventory.
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Pillar of the Community
Canada
5240 Posts |
There are, unfortunately, lots of safety deposit boxes full of stuff that is not worth the annual rental.
I hope that they really didn't deposit actual silver dollars and 50 cent pieces into the bank. Some people still call the nickel ones "silver dollars"
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Moderator
Canada
10458 Posts |
Did I read that article correctly (near the end)? They deposited almost 15 lbs of silver coins, including 50-cents and silver dollars, at the bank at face value?
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The sacks of pennies and mounds of nickels, dimes and quarters we had sifted through had to be rolled again and taken to the bank along with the silver dollars and 50-cent pieces. (These last two are now so rare that the teller didn't recognize them and almost processed them as quarters.) "Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert OppenheimerContent of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_USMy eBay store
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Pillar of the Community
 Canada
1778 Posts |
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I hope that they really didn't deposit actual silver dollars and 50 cent pieces into the bank. Some people still call the nickel ones "silver dollars" I think they must have been nickel coins as well. They did say they culled some silver coins from sets earlier in the article, so it sounds like they had that knowledge. The shop owner probably got all the silver in his bulk buy. They said they got about overall rental costs for the boxes, which they dropped a cost of around $13,000. Lots of silver for sure. There is a lesson to be learned here, and I wonder if this couple are now coin collectors themselves.  . "We are poor little lambs...who have lost our way...Baa...Baa...Baa"
In memory of those members who left us too soon...
In memory of Tootallious March 31, 1964 - April 15, 2020
In memory of crazyb0 July 27 2020. RIP.
In memory of T-BOP Oct. 12, 1949 - Jan. 19, 2024
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Pillar of the Community
Canada
2577 Posts |
I believe the moral of the story is to take a break when sorting through inheritances left by our folks/loved ones (& get some help).
While reading this it reminded me of when my father died (who also hoarded stuff) and sorting through all his accumulations was simply exhausting. I think when, as a descendent who's been set to sort through it all its easy to get obsessed with trying to make short work of a very long task. It didn't help these folks that they seemed stonewalled by bank bureaucracy. They seemed to be highly motivated to liquidate with haste and I'm sure the local dealer did well by them.
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Valued Member
Canada
387 Posts |
@wildflowerAB - Thank you for sharing.
So many interesting lessons.
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Valued Member
Canada
372 Posts |
Why rent safety deposit boxes for that sort of stuff ? The coins value will never increase fast enough to cover that cost.
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Pillar of the Community
Canada
5240 Posts |
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Why rent safety deposit boxes for that sort of stuff ? The coins value will never increase fast enough to cover that cost. It makes no sense, obviously. The other lesson is that the person did not recognize the difference between valuable and worthless stuff. People should only keep stuff in their boxes that is actually worth protecting. |
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Moderator
Canada
10458 Posts |
But, you are forgetting... one man's trash... is another's treasure...
It is the perception of value that is behind the reasoning, not the absolute value...
"Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert OppenheimerContent of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_USMy eBay store
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Pillar of the Community
Canada
2577 Posts |
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It is the perception of value that is behind the reasoning, not the absolute value -That is so true "SPP-Ottawa" I'm getting pulled into World notes and was looking at a few online sellers, one of which has a very common 1867-1967 $1 highly graded note listed for 275X book value. That nearly blew me away. Then, I saw another one of his listings -a regular 2013 high graded $5 polymer- with bidding north of 6X face (4X BV). Clearly, this sellers' market base perceives high graded TPG notes as the "holy grail" to collecting (& the convenience of shopping in one spot rather than looking around for less expensive stock). So: just as the dearly departed from "The Bank Job" article had no clue what to collect (let alone how grading comes into play) & yet perceived their coins were worth a "small fortune" the descendants had a much dimmer view of the mass of coins left for them to sort through/liquidate. |
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Pillar of the Community
Canada
1571 Posts |
Perhaps a hand drawn treasure map and a shovel is the most cost effective means of storing coins such as these
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Replies: 16 / Views: 3,600 |
Posted 06/23/2018 4:26 pm
