Let's talk ...INHERITED....coins.

topstuf

Have any of you inherited a coin collection? Not a box or bag with some coins which got you started, but a real coin COLLECTION. Coins which were PURCHASED, arranged, sorted and themed?
Were you pleased with it? Did you keep it or add to it? Sell it?

What about planning for your own collection? Are you keeping it until you die? Are you building a "legacy" collection to pass down? Are your heirs interested at all in the collection?

Not just the "I like that one, Dad" sort of interest, but an actual interest indicating that there is that "spark" that can't be denied. Like "Let's get into die varieties" or "Do you have any Carson City coins?" types of remarks that show the heir really .....knows...... what they are discussing.

Do you plan to sell your collection rather than leave it to an heir? (Accountants out there....do coins acquire a "step-up" basis if sold AFTER death to avoid taxes on the gain?)

Do you plan to sell BEFORE you die and just leave money....or SPEND the money?

Any OTHER "coin inheritance" discussion?

nwcs

>Do you plan to sell your collection rather than leave it to an heir?

I have no heirs and if that's still the case in 30 years, I'm selling everything.

dthigpen

I aquired a rather large collection from my grandfather valued approximately the same as my house here in San Diego; mostly gold. I have no plans on selling any of it, in fact, I keep it isolated from the rest of 'my collection' and in a safe deposit box. Eventually one day I might actually integrate it, but for the time being, it's just sitting there awaiting my death so that it can be passed on to someone else. As for my personal collection, as of this time, I do not plan on selling it prior to my death and plan on passing it on to my heirs, however, things change, so who knows.

kranky

My dad gave me some worn coins when I started collecting as a teenager - a two-cent piece, couple of G Indian cents, and three Morgans. Not really an inheritance.

I have given my wife instructions on what to do if I shuffle off this mortal coil before I dispose of my collection. She knows who to contact. I haven't yet decided if I will sell on my own, let her sell after I pass on, or what. I might pass a few along to my nephew who is showing an interest, but I'll wait to see if he sticks with it.

Chances are I'll let her take care of it if the time comes, since selling coins tends to irritate me.

pharmer

What happened to that person who posted a couple weeks ago about inheriting a lot of stuff from a grandparent? I thought we were begging for pics of the old proof sets.

JadeRareCoin

since selling coins tends to irritate me.

Hey, don't be so "kranky"

beartracks42

I did not inherit a thing, so that is mute. Between my wife and myself, we have 6 children, 12.75 grandchildren and 1 great granddaughter. None of them are..."hooked on coins"... One granddaughter shows interest, but prefers foreign coins, which is ok.

All of this is leading me to heavy thinking that I will sell off most, if not all of my collection pre death and leave them the cash. I have seen signs over the years that they all know what to do with it.

In the event that my plan is interuppted, my wife knows most of the dealers, friends to contact to help her handle disposal or whatever she decides to do with it.

Gary

mgoodm3

I inherited a couple coins from my grandfather. They were my grandmother's. She was the one who got me going in collecting. The problem was that almost all of her coins were gone when he died. Must have sold them off. I got a 1908 Liberty Nickel in G and a 1955S uncirculated cent.

khayse

beartracks,

12.75 grandchildren?

-KHayse

SQLgeek

Inherited a collection from my grandfather. Alot of OLD coins including gold.
He would also hoard coins from the mint and those are mine now.
I consolidated his with mine and its very large right now.

I plan to give these to my grand childern one day when I have a family.

SanctionII

My aunt from Iowa visited our family in Denver in the late 1950's or early 1960's. While visiting she found a Morgan Dollar in the street and picked it up. It is a circulated 1890-CC. It grades VG to Fine. When my aunt died, my mom went back to Iowa for the funeral service. My aunt's belongings were divided up between her siblings and she received the Morgan (I think all my aunts and uncles knew I was a beginning coin collector and so had no objection to my mom getting the coin). When she returned home she gave it to me. I still have it and do not plan on selling it mainly because of the sentimental value and family connection.

When my mom died in 1995 I received a container of coins she had set aside from circulation during the late 1970's through early 1990's. Nothing of great value, however there are many nice pieces including Ike dollars, JFK halves and Washington quarters, all clad but in AU-MS condition.

As for my own collection, I have no idea what will happen to it (other than it will continue to grow). My kids do not show any sign of having the coin bug yet.

Gandyjai

I'm leaving my little girl 3 Ike sets.....My best high-grade Registry one, a toned one and
an error one. I'm sellin' off everything else in the next 5-10 years.

Gandyjai

beartracks42

Khayse,

Our son's wife is due November 30th. Their first.





Edited for spelling.

morgannut2

My sister and I recieved my dad's coin collection on his death. It was smartly auctioned under the terms of the will. There were over 150 duplicate Morgans in mostly AU put in 2x2" envelopes which the attorney split between sister and me. I've added occasionally to the AU set and will leave to whatever grandchild shows interest. Its hard to match the old gold toning so this is longterm. The more expensive stuff has instructions to liquidate and a list of good auction houses.

SethChandler

NAW, just a few proof silver coins from the 1890's wrapped in tissue paper. Tarnished junk that I just spent.

mustangman7

Back in 1977 when my Grandfather passed away, he left me a Lincoln Cent album that went from 1856-1956. It had many old coins in it and no key dates and was missing about 100 of the coins to complete it. It has taken me 25 years to finish the book with the exception of the 1856 flying Eagle but I would not sell it for the world. It was a attachment to my Grandfather that nobody else in the family had and he sparked my interest in collecting. I have that album still to this day locked away in my safe and even when hard times hit, I never thought once about selling it because I can't ever get any coins from my Grandfather again. From that spark I grew into completing my very own #1 Registry set which I did sell when things got tight, But I still have Grandpa's coins!

Hedger

I received a nice well put together collection of early and modern coins in old whitman folders and albums. This was about two years ago and I still have the collection today. The collection consists of mostly complete sets of Indian Cents, V nickels, Mercury dimes, Lincoln cents, Buffalos, Jeffersons and proofs from 1956 to 1981.

ognib

When dad died mom wanted my brother and I to take dads coins. She told me last time I visited her about 10 minutes before we had to go to the airport so I didn't have much time to look at what he had. I remember looking thru his stuff when I was young but my brother now tells me he never let us look at his 'good stuff'. I'm really curious now and the problem is mom is a 34 hour drive away from here! So, I don't know if he has any collections put together but mom says he just put them in plastic foldovers. I need a plane ticket and a big carryon bag...