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 Replies: 38 / Views: 5,046 |
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Pillar of the Community
United States
2605 Posts |
I call my oldest "my Prince of Wales". He already knows I'll pass my crown(s) to him and is very excited. But sometimes P of W's have to wait quite a bit. Just ask Edward(VII) or Charles.
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Pillar of the Community
United States
2661 Posts |
Well, I plan to let my kids decide what to do with them when I am gone from this earth. I'll make sure that the collection is divided equally among them and them it will be in their hands.
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Valued Member
Canada
279 Posts |
I will never die mmmmuuuahahhahhahahhah
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Valued Member
United States
220 Posts |
I will pass them to my older son (5 years old). He already said that he wants all of my cool stuff (ie. coins and video games). My older son enjoys finding out the year and mint mark of the coin, and then place them in the coin album.
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Valued Member
United States
253 Posts |
Take em with me  I'll have them melted down  Formed into a rocket. And send my earthly remains to the stars.  Coggie (aka Jeff) |
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Pillar of the Community
Canada
1248 Posts |
just remember if you sell them off... the taxman may want his share.....
try and do not make him rich.....
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Pillar of the Community
 Canada
1554 Posts |
 Hello Helmut, the Taxman is catching on to all the transactions on E-bay over the past 10 years. I think we'll see a lot of changes in the coming decade concerning sales on collectibles. They'll probably set it up we'll all need a U.P.S. tax code for any transactions on line concerning sales. They can already watch us from satellites from outer space, I wouldn't be surprised if they are watching me right now through my monitor as I am typing this thread. Glenn |
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Valued Member
Canada
276 Posts |
... I'm planning on using it to go on vacation when I'm too broke to do anything else. Why else would you save money?
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Valued Member
Canada
85 Posts |
It looks like most of us would pass them on. For me, I said pass them on, but that is because I would never be able to let them go. I do not think my chilren will get into coin collecting so I think they will sell them off as part of my estate. That saddens me, but I would rather leave it to them to sell, because I could never do it myself.
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Pillar of the Community
United States
3592 Posts |
My goal is to spend every cent I can before I die....this collecting is just a "piggy bank" for me....now maybe if my future grandchildren would show a big interest, I would pass them on ,but I'm not a fan of inherited money and what it can do to people. Teaching your kids to work for what they want is one of the best things you can do for them. |
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Pillar of the Community
United States
4000 Posts |
I was looking for "til death do we part", so I went with the closest available option.
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Pillar of the Community
United States
629 Posts |
I will pass the collection on to my heirs but the collection will be different than it is today. As a collector, my interests in various types of coins changes the way I collect. I specialize in Canadian but have many more different types of coins, notes and books that I have collected. I have started getting rid of the books and some of the other things that I can still turn a profit on. My collection will be down to the my best coins that I will be passing on to my heirs. More importantly, I will educate them on how to sell them for the top money that they deserve. Finally, I will give them some of my stories that go with the various coins.
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Pillar of the Community
United States
958 Posts |
Its ether sell while your alive or someone will do it after you die.
1 The coins will be fought over by family after you die ,someone will sell them to keep others in the family from gettng them
2 You leave them to someone who eventually sells them and makes money
3 You die and relatives take them to a coin dealer and get 30% of the coins value and split the money.
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Pillar of the Community
United States
844 Posts |
coppertop5150,
That sounds about right. My family is notorious for that kind of behavior. It's sad, but human nature.
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Pillar of the Community
United States
1256 Posts |
As discussed in another thread, there are 3 parts.
Collection - for me that's my Lincoln set. I intend to pass it down. Unlikely he will sell but they'll be his to do as he wishes.
Accumulation - US silver, world coins, rolls of Lincolns - Sell as needed starting at 60
Hoard - wheat and memorial copper - Sell later to enhance the collection
I have 7 1/2 years to work on it :)
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Replies: 38 / Views: 5,046 |
First Page
Posted 12/17/2009 5:23 pm
