If you knew you had less than 10 years to live, would you?

stman

Sell your collection now, thin it out little by little (done that) put names of who you want them to got to on the coins, sell them all, keep them all,
buy that one coin you've always wanted and enjoy it (done that) ???????

What would YOU do?

GoldenEyeNumismatics

i'd go to the grave with my favorite 5 coins... that way no one will ever tamper with them!

WoodenJefferson

sell them all...you ever see family fight over what's left?

I'd take the proceeds and have a pre-wake and then
do something I always just dreamed of doing and just do it.

numobri

I would sell them and give the money to my family,of corse,it would take ten years to do so.


Brian

AU58WALKERS

I think about that question on a daily basis. I figure I will be doing good if I last ten more years.
I have already lived longer than I thought I would.

I had planned on leaving my coins to my grandson, but I was informed that it would not be fair to the other two grandchildren.
(which of course it wouldn't be).
I too have thought about thinning my coins down, but instead I have started a couple more sets, adding
more problems to this situation.

At some point I will probably sell em all and blow the money at a casino since that is my second love.

mozin

I would definitely thin out my collection, starting with the least valuable coins. It would not bother me to sell off the least valuable third of my collection, so long as I could continue to buy what I like most.

When the doc tells me I have five years, I would sell off most of my collection.

If I have only a year or two to live, the entire collection goes.

coinlieutenant

I'd sell it all...without a doubt. I love coins, but with the money, we could take a lot of trips that would be great times and memories.
Much more important.

Cam40

you may not have a choice if you have to pay those huge end-of-life-care bills.

somber thread...

stman

<< <i>I had planned on leaving my coins to my grandson, but I was informed that it would not be fair to the other two grandchildren. >>



AU58, I hear ya. I have a special Granddaughter that was born 6 weeks before my Wife died. She is the special one, although I have two others as well. I feel bad thinking that way, but even my Daughter understands. Selling coins taking vacations. Yeah, been there on that other situation. Only problem is I don't think SHE has memories of the vacations now. I've put a few coins away with names on them. I've thinned out my collection.
Bottom line is these are just things that in the main scheme of things are really not that important.

Most will go soon enough, I think

AU58WALKERS

"Bottom line is these are just things that in the main scheme of things are really not that important."



So true

50cents

I would sell my coins and move down to the Redneck Rivera and become a regular at the Fora-Bama .

stman

<< <i>"Bottom line is these are just things that in the main scheme of things are really not that important."



So true >>



Which is why I will say on this forum that it might not be a good idea to take this stuff so serious. Now wait a minute Yes I love coins as much as the next person, and the images, and I know big money can be at play. And it can be big business...... but to get serious enough to have flame wars, put people down, flat out have enemy's over these "things" not worth it IMO.

AU58WALKERS

<< <i>

<< <i>"Bottom line is these are just things that in the main scheme of things are really not that important."



So true >>



Which is why I will say on this forum that it might not be a good idea to take this stuff so serious. Now wait a minute Yes I love coins as much as the next person, and the images, and I know big money can be at play. And it can be big business...... but to get serious enough to have flame wars, put people down, flat out have enemy's over these "things" not worth it IMO. >>



It is suposed to be a hobby, hobbies are suposed to be fun and relaxing. It is VERY HARD for me to take anything serious
at this point in my life. But then I not so sure if I have taken anything very serious since oct. 1966.

Elcontador

I'd give serious thought to what my priorities were in the time I had left, and put together all of the money I could get my hands on to pursue them. Yes, the coins would be sold immediately.

Nu2koyns

MY LUCK WOULD BE THAT THEY WOULD EITHER FIND A CURE FOR MY PROBLEM OR SOMETHING LIKE THAT. AFTER I GOT RID OF ALL MY COINS AND FIND OUT I STILL HAVE ANOTHER 15 YEARS TO LIVE ! BUMMER

AU58WALKERS

<< <i>MY LUCK WOULD BE THAT THEY WOULD EITHER FIND A CURE FOR MY PROBLEM OR SOMETHING LIKE THAT. AFTER I GOT RID OF ALL MY COINS AND FIND OUT I STILL HAVE ANOTHER 15 YEARS TO LIVE ! BUMMER >>



NO! NO!
Start over with a greater wisdom.

Nu2koyns

AU58WALKERS YOU ARE SO RIGHT. SO LETS JUST SAY I WOULD LEAVE THEM TO MY NEPHEW AND TRY TO BUILD AS GOOD A COLLECTION AS I COULD. WHICH IS REALLY WHAT I WOULD DO.

Sunnywood

Sell the collection now, for the benefit of my family and to protect them from malice ... because only an experienced an astute collector can navigate the process of selling without getting totally fleeced. My heirs would not be familiar enough with the coins, the dealers, the auction houses, or the vicissitudes of the coin market. It would be a great disservice to leave them a collection without at a minimum providing explicit instructions on how to proceed with any sale. It would be much more considerate to leave them cash !!

Best,
Sunnywood

IrishMike

In 90's after surgery and a regimen of 13 pills a day I was at my family doctors office watching him read over a sophisticated blood test. He looked up and said well I guess we can skip the routing physical tests but if you ever need to talk you can call me. We live in the same suburb and had become close friends over the years. I chuckled at him and told him he wasn't my type and we both laughed. Its a strange feeling when you here death knocking on your door. None of my children are enamored with coin collecting and my wife knows zippo about it.

I consigned all my expensive coins with my dealer friends and eventually they all sold. Of course I have outlived the three year time span they gave me. I lost my father when I was 9 so I know very well what it means to be unprepared and didn't want to put my family through that. The positive affects of hearing this news are many, but I did reacquire a love for album collecting and lost the desire to chase expensive coins, they seemed so unimportant in the scheme of things. Its amazing how quickly you learn to be honest with yourself as I realized my children could care less if I went and had the tag line of having put together a so called "class collection."

I've got more than a few coins sitting in albums that are in the $500+ range and will eventually dispose of them, but they are such a small part of the program I am keeping them.

Doc still hasn't lost his sense of humor, every time I show up for the fun things like the prostate exam, he always exclaims, Mike I am surprised to see you.

mozeppa

great out look mike.

RickMilauskas

I'd thin things out and eduacte my familt about what to do with the better ones.

STONE

Still many years away, I plan to pass my coins down to my children and so on.

If they got interested in coins, I would ask that they continue what I started and hopefully upgrade certain coins.

BBQnBLUES

I'm planning on 'taking them to the grave'

Just imagine the toning they'd develop under a rotting corpse... j/k

lathmach

I have a bad heart, and 10 years is probably outside the life envelope for me.
For the time being though, I'm hanging onto my coins, and even adding to them.
I collect the Liberty Seated Quarters, and they continue going up in price.
I see no reason to sell them, since I have a lot of life insurance to protect my family.

Ray

ziggy29

My dad's original will called for me to be responsible for the liquidation of his coin collection. Truth be told, I was hoping to be able to cherry the coins I wanted for my own collection (paying fair value for them, of course, and with the consent of all the other heirs)...but when my dad found out he was terminal last year, one of the first things he did was sell all the coins, probably close to $50,000 of them. I guess he figured he knew what he had and what they were worth, and decided not to burden anyone else in dealing with them.

777

I would certainly educate my heirs about the importance of their value, and my final wish of them keeping them forever

AuldFartte

Since I so thoroughly enjoy coin collecting (it's one of my few true joys in this life) I'll keep collecting 'til the end
My greedy-arsed kids are gonna fight over everything else, so why take that bit of pleasure from them, too?

tincup

<< <i>I would sell my coins and move down to the Redneck Rivera and become a regular at the Fora-Bama . >>



LOL.... that's for me also!!

Seriously.... sell the coins definitely. Does not mean that I would give up coins completely, but it would not occupy the time that I devote to it now.

95% of the time your family does not share the same passion for coins that you do (well, I cannot speak for any of you... but I can say that is definitely true in my family). So why keep the coins and pass on to them?? They will probably sell for whatever they can get for them.... which means many will probably be sold for not near their true worth. They will be too pre-occupied with settling your estate, tending their own lives and problems, etc.

So I would dispose of the vast majority of my coins and put the money into other accounts (and perhaps still maintain a portion into gold and silver, which can be more easily sold/converted by my heirs).

Bunker

I would sell everything now and put all the money into one fantastic coin that I could admire. When I was aproaching the 1 year mark, I would send the coin to an auction house to sell it.

With that money I would take as many trips as possible with my family members and or help my kids financially by paying off some of their debt etc.

goose3

Stman

you DO know how to spell my name correctly, right?

pharmer

A very moving thread. Well done, stman.

anablep

Sell them all.

Take the money and go on extended vacation with my wife.

What do I care about the coins?

My personal time is more valuable.

MrEureka

Funny thing is, I would do exactly what I'm doing now. Thinning the scope of the collection, increasing the focus, improving the overall quality and increasing the total value. As for taking more vacations, I already take as many as I ever could. Of course I call them "buying trips", and they are.

dizzyfoxx

I would certainly hold on the one's that are special to me, to bring a smile to my face during my remaining days.

FatMan

10 years? I would change nothing. I collect for fun and enjoyment and why would I change what brings me enjoyment? I have detailed information about my collection in the safe deposit box, indicating approximate values with recommendations for liquidating. The only potential fly in the ointment would be if the illness required such financing that all our assets had to be liquidated. Then I would have no choice but to sell the collection. But I've done a pretty good job over the years to insure that will never happen. And at my passing, I have enough confidence in the people chosen to handle my estate to not worry about the collection becoming a burden.

ANACONDA

I would sell my "collection" and travel more. Don't worry Brandon, you could be my bodyguard. Besides, I'm healthy, physically.

carl

Near the end of 2003 I began passing blood in my urine. Naturally I ran to a doctor. I was assured it was nothing to worry about. During 2004 after 4 operations and 2 bouts of Chemotherapy and told at times "Have you notified your next of kin?" I had my bladder, prostate, lymph nodes, associated nerves all removed. My large intestines were cut up and partially used to make a NEO bladder. Abdominal muscles relocated probably just for practice of the surgeon for all I know. Sent home with 4 tubes sticking out of me and plastic bags hanging from everything. Now I must still go for Cat Scans, bone scans, MRI's, X-rays and blood test every 6 months. At first it was every 3 months but now extented. My primary surgeon said he was never this optimistic before about me. At first I started thining out my coin collections. I still do that occationally but mostly because just to much stuff. Well over 60 years of collecting there is just to much stuff and not only coins. I had my wake up call about the end is coming and time to do something about it. For now this subject is not a speculation as to what I would do but is reality of what I MUST do.
However, I now go to at least 3 coin shows a month and just can not stop purchasing coins I want but I probably will not appreciate for much longer. I have one son that has no interest in coins and knows as much about them as he does about Nuclear Fusion. As to what else this has effected I made myself a resolution to get rid of at least 1 item a day and so far for almost 2 years I've done just that and still to much stuff.
The question was if I knew I had less than 10 years left. The above is what I would do and am doing it.

Musky1011

Enjoy one day at a time and not look towards the future because

Worrying about tomorrow only screws up today

no matter what happens enjoy each moment in life as it is, all in all it is your life you are experiencing and nobody elses

Some people live their whole lives looking for what might happen, instead of living what does happen

Possesions are meaningless when life is at stake, Don't worry about the family fighting over what's left , you can look down from heaven and laugh, just be happy

Da le lama Jim

66Tbird

<< <i> Its amazing how quickly you learn to be honest with yourself >>



This comment, even though take a little out of context within this reply, is really the heart of the matter. Another point that maybe missed is the rate at which you'll die. If a quick ending is the plan, then great, party hardy that last year, but in the real world your not going to feel like doing much and the $'s tied up in your collection would be better spent on your comfort and care for both you and your loved ones.

I would concentrate on maximizing the values in selling the collection and use that money VERY wisely. This all relates to the quote, because there are people here who will not be here in ten. Whether it be life style, or fate, it is the truth. Things don't bring happiness, good decisions regarding family concerns do.

Nysoto

You never know when your time is up. But if I knew, I would sell 75%. I plan to sell the bulk of my early half die variety collection with the exception of some favorite dupes, it would be a lot of fun to see it cataloged and sold at auction. My children will appreciate gold, but not the die varieties.

Bear

I would have to double up on my corned beef sangmiges.

500Bay

Ten years is still a long way off. Realistically, none of knows for sure if we will still be alive in 10 years. Plus, that long of a time frame allows people to do what they do best: put off thinking about such things.

I'm in my early 40's and in good health. I anticipate being here on Earth (not under 6 feet of it) in 10 years. That said, I have detailed instructions to my executor on how to divide or liquidate my collection for my heirs. That is a good thing to do no matter how long you may think you may be alive.

While I do spend "too much" (a relative term) on coins, it is not at the expense of living my life in a worse way than I would otherwise. I'd probably have some other hobby to spend money on, perhaps with less opportunity to at least maintain some of the capital expended. Regardless, I spend my time appropriately on all my obligations - work and family.


Now, if I knew I would be dead in 6 months - then I may start selling now...

flaminio

With only ten years to go, I'd sell the lot and use the funds to retire. I sure as hell would not want to spend the last ten years of my life working.

mgoodm3

Maybe save a single favorite and sell the rest.

Steve27

" I would have to double up on my corned beef sangmiges."

I would double-up on pastrami.

As for my coins, I would sell-off some of them, and while I was still alive, I would give the rest away to my heirs.

billboat

At 65, I'm probably within my last ten--although many in my family have made their 90's. I'll be selling off my Morgans in the next year or two--on the BST after I master posting pictures. Then I'll finish out my type set and play with my CBHs. I love this hobby!! And all who contribute here!