Where will your collection end up?
kartwheel
Posts: 144
I was just wondering if everyone out there has a "plan" for their collection. I can tell you that my Dad, who had passed away last February, did not.
My father had a huge old cedar trunk that he had since he was stationed in Japan (Navy) in 1962. This thing was absolutely off limits to us as children and adults. Inside was a massive collection of coins that my father had obviously been collecting all of his life. Nothing slabbed mind you, just loose and large quantities. I only know what was in the box because of my sneaky brother who at the age of 11 (me 8) found a jacket in my father's closet with a pocket full of keys and found the one. I find it so interesting that he not only collected coins, but seemed to try to keep it a big secret from the family our entire lives.
In his will he wanted my brother and I to split everything down the middle. Do you know how absolutely difficult this is. Nearly impossible. Anyway, my father passed 5 days before I had a scheduled C-section with my baby boy, so I could not fly from Calif to Nebraska to bury my father or go through his things. My brother on the other hand.....COULD! He got his hands on whatever valuables he could, through them in a POD container and sent it to his home in San Diego before my husband could get there and "be my eyes".
I am the executor of my father's estate and it's been enough to lay me down right beside him. My brother finally drove up to bring me my "HALF", and when he opened that cedar trunk my heart sank. I've probably got about 15% of my father's collection. I could tell by the look on his face that he was hoping that I had forgotten about the collection. Sorry, that memory is as fresh as the day he opened that trunk in 1976. I do have to say that what I do have of his collection is so cherished and will be handed down to my son. Unfortunately, my brother on the other hand is the type to go out and spend every one of those coins for face value. Fast food, beer, whatever. It sickens my heart, but there's nothing I can do. My father would never have been the type to chat on a coin forum, so there might not be many of you like him. However if there are, PLEASE make a plan for your collection. It's difficult enough to lose your loved one, and then go through something like this? YIKES!
I can say something positive about the experience though. I am now a huge "numi" since I've obtained my part of the collection. I am thrilled about coins now. I drool over all of the coins at my local coin shop, love reading this forum, I've put airtites on everything my Dad left, I'm gathering every book on coins that I can......la la la. The world of collecting coins is a big part of my life now. I only wish that I had learned it with my dad and not because of my dad's death.
Kimberly
My father had a huge old cedar trunk that he had since he was stationed in Japan (Navy) in 1962. This thing was absolutely off limits to us as children and adults. Inside was a massive collection of coins that my father had obviously been collecting all of his life. Nothing slabbed mind you, just loose and large quantities. I only know what was in the box because of my sneaky brother who at the age of 11 (me 8) found a jacket in my father's closet with a pocket full of keys and found the one. I find it so interesting that he not only collected coins, but seemed to try to keep it a big secret from the family our entire lives.
In his will he wanted my brother and I to split everything down the middle. Do you know how absolutely difficult this is. Nearly impossible. Anyway, my father passed 5 days before I had a scheduled C-section with my baby boy, so I could not fly from Calif to Nebraska to bury my father or go through his things. My brother on the other hand.....COULD! He got his hands on whatever valuables he could, through them in a POD container and sent it to his home in San Diego before my husband could get there and "be my eyes".
I am the executor of my father's estate and it's been enough to lay me down right beside him. My brother finally drove up to bring me my "HALF", and when he opened that cedar trunk my heart sank. I've probably got about 15% of my father's collection. I could tell by the look on his face that he was hoping that I had forgotten about the collection. Sorry, that memory is as fresh as the day he opened that trunk in 1976. I do have to say that what I do have of his collection is so cherished and will be handed down to my son. Unfortunately, my brother on the other hand is the type to go out and spend every one of those coins for face value. Fast food, beer, whatever. It sickens my heart, but there's nothing I can do. My father would never have been the type to chat on a coin forum, so there might not be many of you like him. However if there are, PLEASE make a plan for your collection. It's difficult enough to lose your loved one, and then go through something like this? YIKES!
I can say something positive about the experience though. I am now a huge "numi" since I've obtained my part of the collection. I am thrilled about coins now. I drool over all of the coins at my local coin shop, love reading this forum, I've put airtites on everything my Dad left, I'm gathering every book on coins that I can......la la la. The world of collecting coins is a big part of my life now. I only wish that I had learned it with my dad and not because of my dad's death.
Kimberly
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Comments
When my grandma died thats how she set everything up, and it was very easy to deal with all the stuff related.
Russ, NCNE
Russ, NCNE
just completed 3d tour to Iraq and retired after 28+ years in the US Army
Dan
First Place Winner of the 2005 Rampage design contest!
Kimberly
My Coin Painting Website
My Coin Painting Website
Hmmm...
Wonder if anyone has ever designed a grave marker with a hidden compartment.. I could stash my coins in it now & know no one would ever think to look there. ha
sorta "take it with me" when I croak.
When prices went sky high with the Hunt Brothers move, he found himself and his wife in great health and retired at 84 years of age.
He took his collection of 70+ years and sold out. He was wise enough to get the right prices. He did give away a few pieces to close family, but that was but a mere fraction. I've still got my '07 No Motto Double Eagle from that time. It's probably a 63-64 but the grade really doesn't matter to me, it will stay raw.
Anyway, he turned it into well over two million $$. A lot of it in cash I'm sure as I knew his style well. Adjusted for inflation today, that's quite a pile of FRNs.
He then traveled the world for over a year and showered he and his wife with a very nice new home, new cars, furs, jewelry, etc. He also hired a full time maid as well as a cook and he and his bride of 60 years lived in luxury the rest of their lives.
Quite the payoff for all the years of scrimping and saving.
I hope I can do as well. No matter, there will be nothing left, save for a few items I give to family as a remembrance.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
Steve
In memory of the USAF Security Forces lost: A1C Elizabeth N. Jacobson, 9/28/05; SSgt Brian McElroy, 1/22/06; TSgt Jason Norton, 1/22/06; A1C Lee Chavis, 10/14/06; SSgt John Self, 5/14/07; A1C Jason Nathan, 6/23/07; SSgt Travis Griffin, 4/3/08; 1Lt Joseph Helton, 9/8/09; SrA Nicholas J. Alden, 3/3/2011. God Bless them and all those who have lost loved ones in this war. I will never forget their loss.
<< <i>Definately not. My father was not only a collector, but an accumulator. What he saved, he saved for good. I had to go through every reciept he had since 1962, and I MEAN EVERY reciept, when I cleaned out his garage. >>
Sounds like my family.
60 years into this hobby and I'm still working on my Lincoln set!
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Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.
If so, please speak up...
Big Dave
-------------------------
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I have all my receipts well marked and separated for all my coins. It also helps that I got rid of my "accumulation" a few years ago, and have a very tight collection.
Hopefully I will be able to sell off my collection before my demise to make things easier for my heirs.
But if you do intend to keep your coins forever, then I would strongly suggest you itemize them and have them divided amongst your children equally. Being a jewelry appraiser for over 25 years, I have seen families divided, much too often, fighting over their deceased parents 'valuable' jewelry items. It's really sad. There seems to be always one sh*t disturber in every family.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
I give away money. I collect money.
I don’t love money . I do love the Lord God.
(Priest) BLASPHEMY he said it again, did you hear him?
Watched a family bring in a huge collection to a coin shop many years ago. They walked out with a check that was less than 20% of the value. I decided right there and then, that would never happen to my family.
Contrast your experience with that of Darth5oh and his cousins in
Recently Acquired Coin Collection - The return
Send that to your underhanded brother so he can see the way siblings and relatives can honor the memory of the loved one who they lost!
Auction it off while I'm still breathing so I can retire!
She had a safe in her attic. HUGE old safe that had a pretty small inside. She went to a nursing home, (by her own choice) even though she was rich enough for full time home care. She was like that. One day early when my father was visiting she told him to open the safe before my moms cousin broke in and took everything. She told him to keep whatever was in there.
He opened the safe and I forgot this part of the story exactly but there was a sum of cash in the safe. Somewhere between 10 and 30 thousand. The safe also had costume jewelry and important papers.
My father went and told her how much money there was and she said "keep it". I'm sure it was tempting but my father took it to the bank who was managing her affairs and deposited it in her savings account (thank God I grew up in a decent family). I think he filed the papers in his filing cabinet and after having the jewelry checked out he found it was essentially worthless.
Anyway the safe sits for some time with a couple old pieces of paper Dad didn't know what to do with and some junk costume jewelry. My aunt lives for several years in the nursing home then passes away. My father is executor of her estate. Her wish was to turn all assets into money and then give a little here and there to relatives and the bulk went to my father and mother.
Dad and Mom go to her house to prepare it for auction and sale of the contents and property and dad goes to the attic. The safe is 100% gone.
The best part of this story is the way my father told it to me. He explained how big the safe was, how it was upstairs in an attic, how long and narrow the staircase was and how they must have had to have had the safe extracted by professionals and the safe would have had to have been opened by a professional as well. He said he'd have given anything to see the look on their faces after going to all the trouble and seeing what was inside.
When they took the safe, along with some other household contents my aunt was very much alive.
Vultures.
John
Never view my other linked pages. They aren't coin related.
I LOVE YOUR AUNT!
That story is priceless!
And thank you 53kid, I'll look up your attatchment
To everyone else.....it's so refreshing to hear your comments about your plans for your collections in the future. Dealing with my family "vulture" was enough to make me tell my husband that we're only having one kid so there won't be any struggles! He'll get it all....the Harley, the house, the collection, the jeep. I know this sounds far fetched for a coin collection......however......there's much more uncoin related issues with my brother and this estate. I'll save you the drama!
Kimberly
My Coin Painting Website
Or a couple of them to divide them up between
As kids, my brother and I were fortunate enough to be able to go with him to the vault a couple of times to see his gold coins.
When he passed away he left his gold coin collection to his grandchildren.
We paid his most trusted seller a moderate fee to appraise each of the coins. We took turns around the table selecting them, with the objective of each of us having an equal distribution.
As we completed it, our mom's were commenting that our grandfather would have been so proud of how we handled this--seconds later, his favorite song came on the radio, and we all had a good cry.
I don't think I've ever had a better coin related experience.
You brought a tear to my eye.
My Coin Painting Website
If I died, my dad would get em
<< <i>Where will your collection end up? >>
Scattered to the four winds, no doubt, with hopefully a few pieces in the hands of younger friends here, when I finally shuffle off the mortal coil.
The only "collections" of mine that I would care about staying intact are the Victorian type set I am building for my daughter (which she will be free to sell when she comes of age, if she wants- I plan to give it as a wedding gift, maybe, or when she presents me with a grandchild). That, or the Holey Coin Vest and Holey Gold Hat that are my claim to fame. Might donate those to the ANA if anybody cared about them. (Shinnick? Lord Who?)
I hope my album of dug metal detecting finds remains intact, regardless of whose hands it is in, since I meticulously printed all the data about where and when each coin was found. If I ever publish a book about detecting, these might have a worthwhile pedigree. Otherwise, they're just a bunch of crusty, often junky coins, for the most part. Some have interesting histories and a few are quite old, but there's a lot of ugly stuff in my dug album, too. They'll likely be more valuable if kept together as a set, with the provenance intact.
My wife knows who to call when I kick off. He's a forum member and friend. (And a few years younger than me, not to mention thinner and now a nonsmoker, so he should outlast me.)
karlgoetzmedals.com
secessionistmedals.com
<< <i>I was just wondering if everyone out there has a "plan" for their collection. I can tell you that my Dad, who had passed away last February, did not.
My father had a huge old cedar trunk that he had since he was stationed in Japan (Navy) in 1962. This thing was absolutely off limits to us as children and adults. Inside was a massive collection of coins that my father had obviously been collecting all of his life. Nothing slabbed mind you, just loose and large quantities. I only know what was in the box because of my sneaky brother who at the age of 11 (me 8) found a jacket in my father's closet with a pocket full of keys and found the one. I find it so interesting that he not only collected coins, but seemed to try to keep it a big secret from the family our entire lives.
In his will he wanted my brother and I to split everything down the middle. Do you know how absolutely difficult this is. Nearly impossible. Anyway, my father passed 5 days before I had a scheduled C-section with my baby boy, so I could not fly from Calif to Nebraska to bury my father or go through his things. My brother on the other hand.....COULD! He got his hands on whatever valuables he could, through them in a POD container and sent it to his home in San Diego before my husband could get there and "be my eyes".
I am the executor of my father's estate and it's been enough to lay me down right beside him. My brother finally drove up to bring me my "HALF", and when he opened that cedar trunk my heart sank. I've probably got about 15% of my father's collection. I could tell by the look on his face that he was hoping that I had forgotten about the collection. Sorry, that memory is as fresh as the day he opened that trunk in 1976. I do have to say that what I do have of his collection is so cherished and will be handed down to my son. Unfortunately, my brother on the other hand is the type to go out and spend every one of those coins for face value. Fast food, beer, whatever. It sickens my heart, but there's nothing I can do. My father would never have been the type to chat on a coin forum, so there might not be many of you like him. However if there are, PLEASE make a plan for your collection. It's difficult enough to lose your loved one, and then go through something like this? YIKES!
I can say something positive about the experience though. I am now a huge "numi" since I've obtained my part of the collection. I am thrilled about coins now. I drool over all of the coins at my local coin shop, love reading this forum, I've put airtites on everything my Dad left, I'm gathering every book on coins that I can......la la la. The world of collecting coins is a big part of my life now. I only wish that I had learned it with my dad and not because of my dad's death.
Kimberly >>
Sorry to hear about your Dad but welcome to the coin fray!
BTW, keep those coins you inherited close. I live in the greater Sacramento area and have yet to find a Brick & Mortar shop in the greater Sac area that is worth their weight in salt. On the other hand, I have had much better success in the Bay Area and Stockton.
Rob
"Those guys weren't Fathers they were...Mothers."
BST successful dealings with:MsMorrisine, goldman86