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 Replies: 14 / Views: 1,372 |
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New Member
United States
29 Posts |
My grandfather died in 1980, leaving a very nice collection behind. Complete sets of Lincolns, Liberty nickels (mostly proofs!), Buffaloes, Mercs and Washingtons, etc. Great 20 cent pieces, Indians and Morgans. There were also piles of 64 kennedys and assorted franklins, mercs and other junk silver. I distinctly remember sorting through a large coffee can full of them, looking for better condition coins, key dates and adding up total values for my Dad. We took a lot of the junk silver to be sold, riding high on the Hunt brothers' attempt to corner the market. Fast forward 28 years. Today I found a file of all the appraisals we had done at the time. Stashed amongst them was a receipt for a junk silver sale. Going rate was 9.5x face. Not bad at the time. There were line items for several coins, one being described as 1916 D-$8. My heart about stopped thinking that we had sold a merc grail for 100th of what is now worth. Further inspection revealed that next to the 1916 d, in light writing is OBV. I am guessing that this refers to a 1917 WL half with a 16 obv (the bill shows that a 40 and 44 WLH were also separated out). Does this make sense? Anyway great to revisit some family history. Please feel free share your tales of inheriting coins, the highs and lows. |
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Rest in Peace
United States
9104 Posts |
Just think, had you held on to those coins for 28 years, you'd have gotten about 20% more, or less than 1% a year. When you sold them, you could have put the money in utility bonds at 18% a year.
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New Member
 United States
29 Posts |
Yeah, I hear you. No crying especially when you figure in inflation. I am quite intrigued to see that prices for the sets and rarities (other than for key dates) have not risen to the extent I thought they would. Looks like they have roughly doubled. Compared with other collectibles like fine art or even my beloved record collection it doesn't seem like tremendous appreciation. I am sure that matters little to most here though. Anyone else get started because of an inherited collection? It's quite addictive I have to admit. |
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Pillar of the Community
United States
6326 Posts |
I love it !
Just think when your child is a "grandfather/mother" and can hand that same collection down to his/her grandchildren !
Really that's a BIG reason why I collect and add to the coins and materials that parents, other family, grandparents, and great-grandparents have given me. It then gains more "importance" to you and harder to ever part with because it's "family heirlooms" no matter what hits you in life........
You are the "caretaker" of these family coins, etc.
And I like this idea of 347 years from now, each generation adds what they can to the "family collection"......
Just gotta be careful with divorce, and family members who don't share the same passion for it as they should.
Edited by eaglefoot
08/03/2008 8:36 pm
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Bedrock of the Community
United States
20753 Posts |
With me everything is just opposite. I inherited nothing from no one. I built my coin and othe collections myself. And there is no one to leave it to either. A few years ago I started giving away lots and lots of stuff for that reason. All my coins will probably end up in a banks counting machine or gum ball machines. |
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Pillar of the Community
United States
6326 Posts |
JustCarl..... I'm AVAILABLE FOR ADOPTION.......... DAD !....    |
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Pillar of the Community
United States
1984 Posts |
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New Member
United States
29 Posts |
Thanks so much for the clarification. I figured it was something like that.
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Forum Kid
Kuwait
1523 Posts |
Well this is recent.
My Mum was clearing out her parents place and was being ready to be sold. My grandparents passed away a few years back. My granddad was a coin and stamp collector. I was too young when he passed away and could share his collecting spirit with me. It was after he passed away that I started to collect seriously.
Just today, my mom comes to me (we're staying in India for summer holidays) and says "here are only a few of the coins your grand dad left you," which consisted of 2 silver, a square mughal rupee and a silver rupee.
She told me there is a lot more of the collection, I guess I'll have to wait.
The best part: In Indian traditional births, a gold coin is given as a gift occasionally by guests and relatives.
I have gotten 4 sovereigns which has been kept in the bank until yesterday, and my mom showed me today.
I will be getting a larger part of the collection later on (determined by my uncle, whether or not I'm a serious collector)
TKC
Pictures will be uploaded once I get back to Kuwait.
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Rest in Peace
United States
2668 Posts |
A large part of an inheritance is not the increase in value, but, rather, the fact that it is there. Congratulations, and endeavor to make your children even more fortunate.
Your grandfather was a wise and sagacious man.
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Pillar of the Community
United States
1208 Posts |
My uncle, by marriage, lost his grandparents a few years back. My aunt/uncle found cash from the depression era/WW2 sewn into garments in the attic. They needed money to catch up on bills and such, so they took the cash to the bank and deposited it. I found out about it only after the deposit. I asked what kind of bills they were... Very few were smaller than 20s, and most had blue or yellow seals! The description I got was most were gold notes.  Don't you wish you were a teller at that bank! Edit:Oh yeah, the total face value was over $20,000!Edited by ratio411
08/04/2008 8:29 pm
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Bedrock of the Community
United States
20753 Posts |
Quote:
A large part of an inheritance is not the increase in value, but, rather, the fact that it is there. Congratulations, and endeavor to make your children even more fortunate.
That is so true and yet so many people only think of an inheritance as HOW MUCH. |
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Rest in Peace
United States
2668 Posts |
ratio411, they got as much as they deserved in their greediness.
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Valued Member
United States
499 Posts |
parklane64
just out of curiosity, where did you come up with "greediness". I believe that he stated that they used the money to catch up on bills. After my father died the bills were extensive, funeral alone ran over 10 grand. Its just a shame that these people were forced to use their inheritance in this way instead of being able to enjoy what their family had left them.
Richard
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Moderator
 United States
188130 Posts |
Quote:
funeral alone ran over 10 grand. For me, "Death, Inc." ranks up there with HSN and other scammers!  |
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Replies: 14 / Views: 1,372 |
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Posted 08/03/2008 12:32 pm
