What Would You Do?

Tassa · June 6, 2003 7:54AM

I recently found out that my grandmother has a bunch of old U.S. coins locked away in a safe deposit box. She said last time she went to the bank, it took two people to lift the thing. She doesn't know what all she has or what condition they're in. She's got them stored in bags, wrappers, etc.
As far as I know, no one else in my family has an interest in coins. My grandmother certainly doesn't seem to know much about them. I don't think she is planning to sell them, but rather she will probably leave them to her children. I'm almost certain that two of my uncles would just take their share to a pawn shop and take whatever is offered.

Would it be rude of me to ask if I could take a look at them? What would you do?

NumisEd · June 6, 2003 7:58AM

It would only make sense for you to look at the coins since you are the numismatist in the family. It would be in everyone's best interest for you to appraise the coins. Maybe you could offer to purchase the better pieces and inform the family of where/how to sell the rest of the more common items. Then you grandmother can leave money to her children instead of coins, which, as you stated, will probably be sold for far less than they are worth when taken to a pawnshop or coin dealer. DO IT!!

bootleg3 · June 6, 2003 7:59AM

I would definatly ask to see if I could take a look.

Russ · June 6, 2003 8:00AM

<< Would it be rude of me to ask if I could take a look at them? >>

I don't think it would be rude at all. If you're the coin guy in the family, you'd be doing her and your uncles a good service.

<< What would you do? >>

Work hard to become her favorite grandson.

Russ, NCNE

NumisEd · June 6, 2003 8:02AM

Uh, Tassa, hate to ask you this, but is your grandmother's name Deb, by any chance? Was/is she married to a nice fellow named Harold?

pmh1nic · June 6, 2003 8:05AM

Just ask your grandmother if you can examine and catalog the coins as part of your numismatics education.

Tassa · June 6, 2003 8:07AM

<< Work hard to become her favorite grandson. >>

Um, Russ, that would be kind of hard to do considering that I'm her granddaughter!!

vega1 · June 6, 2003 8:07AM

I don't think thats rude at all. I'd be surprised if anyone did actually. You may even be able to help conserve any that may possibly be getting damaged by making recomendations on changes in their storage medium or environment.

kranky · June 6, 2003 8:09AM

I would ask to look at them. I'd explain that while chances are slim, it's possible that there could be some valuable coins, and if so you know how best they could be sold. That way she could have the money now, and still be able to disperse it as she pleases. If there are valuable coins and no one is aware of it, she would be giving up the value because neither she nor anyone who would likely inherit them would know about it.

If it turns out she doesn't have anything of value, she can just put them back in the SD box. But it would be unwise to forfeit the value of any rare coins. Also, even if she doesn't want anything sold, you could put any rare coins in 2x2's and label them somehow to alert any future owner.

Russ · June 6, 2003 8:09AM

Tassa,

But if it were me, it would be grandson.

Russ, NCNE

Tassa · June 6, 2003 8:11AM

<< Uh, Tassa, hate to ask you this, but is your grandmother's name Deb, by any chance? Was/is she married to a nice fellow named Harold? >>

No, Ed, my grandmother's name is not Deb, it's Kathleen. Why do you ask?

Tassa · June 6, 2003 8:15AM

Oops, sorry, Russ. I didn't realize that you were responding to the "What would you do?" question.
Still, you did call me a coin "guy."

NumisEd · June 6, 2003 8:18AM

No, Ed, my grandmother's name is not Deb, it's Kathleen. Why do you ask?

It's a loooong story. Maybe you could sell your grandmother's coins on ebay for her.

ER · June 6, 2003 8:20AM

NumisEd, that's a good one.

rwhite · June 6, 2003 8:24AM

Just take your greysheets and Trends over and have a ball! Its one of the most fun things a coin collector can do.. even if there are no "power" coins.

Tassa · June 6, 2003 8:26AM

Is "Deb" someone who supposedly doesn't know anything about coins but is selling her late husband's collection on Ebay?

Russ · June 6, 2003 8:28AM

<< Still, you did call me a coin "guy." >>

OOPS! Good point. For the purposes of this discussion, "coin guy" shall henceforth be considered gender non-specific.

Russ, NCNE

sinin1 · June 6, 2003 8:41AM

Yes Tassa, Deb has been selling her late husband Harolds coins on ebay for a couple of years now - off and on - it is amazing how she finds another 10K in gold coins every couple of months. She also gives long winded rantings (copy?) about how her day has been.

Tassa · June 6, 2003 8:48AM

<< Yes Tassa, Deb has been selling her late husband Harolds coins on ebay for a couple of years now - off and on - it is amazing how she finds another 10K in gold coins every couple of months. She also gives long winded rantings (copy?) about how her day has been. >>

I thought that sounded familiar. I've come across her auctions before. She once had a key date coin listed in the title of one of her auctions, but then after reading her auction description which described her week, not the coin, she admitted that she had mistakenly typed in the wrong date.

Tassa · June 6, 2003 11:40AM

I just wanted to say "thank you" to those who responded. Now I'll have to print this and mail it to my grandmother.

nwcs · June 6, 2003 11:51AM

I suggest offering to help her inventory and evaluate the coins. She can still decide how to leave them, but I'm sure she'd be happy to have a family member help her make sure that the right thing is done.

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