What happens to your coins when you are gone?

pennyannie

When the day comes that you are no longer living do you care what happens to your collection? I do to a point. I would like my wife and son to keep the "core collection" which has been defined. In my case it is my complete set of Liberty V-nickels and Shield nickels. The rest they can pick and chose. I WILL LEAVE them well off with real estate, gas wells and life insurance policy's that the coins will not have to be sold to pay bills. I want these coins to be handed down over the next few hundred years, of course what really happens i will never know. I am planning on NGC putting my pedigree on some of them. I may have a throphy engraver engrave "seller will be cursed if sold" on the plastic slab.

Bochiman

I bought a metal detector because of all the folks on the boards who say they are "taking them with them"

BAJJERFAN

I have not yet made any firm plans for my demise nor for that of my coins.

lordmarcovan

Speaking of metal detectors, I hope that my detector finds album stays intact. Just ... because. I put a lot of work into it, and the sentimental value of the finds and the stories they tell far outweigh the monetary value of the coins themselves. I would hate to think of it being broken up and sold off as so much junk silver, which is basically what it is (with some corroded large cents and colonials and Indian cents thrown in).

I would also think it neat if my Holey Coin Vest and trademark Holey Gold Hat lived on as an entity, perhaps in the ANA museum or something. If I feel I'm about to croak, I might donate them, but that will be up to ladymarcovan, of course, who I sincerely hope will outlive me. (Chances are, she will).

I am building a collection of British Empire 1901 coins with Victoria's portait on them, for my daughter, Victoria, who was born in 2001. Those will go to her, of course.

That only leaves two coins from my childhood, which I intend to pass on as heirlooms before I shuffle off the mortal coil.

Anything else left over (my other personal collections and dealer stock), is pretty much up to my heirs and I'll be beyond caring about it when I'm gone.

RYK

I hope to dispose of my coins before my demise, but if I don't, my family is encouraged to do what they want with the collection. If they would rather have a condo in Deer Valley instead of the...wait a minute, I think I would rather have the condo in Deer Valley.

At any rate, coins are possessions that I enjoy. If my kids enjoy them, fine. If not, sell them for as much money as possible. If they ditch any of the Steelers stuff, I will haunt them for the rest of their days and their children's days.

Link to recent thread on this topic

lkeigwin

I am counting on mine being sold. I have more in coins than most anything else except real estate. And my family deserves the money and opportunity to make their own investment decisions and chase their passions.

They will never forget what grandpa loved, his boring tirades on coins and history, and their suffering for it. But I am absolutely convinced that some of them will be converted, as I was when grandpa died. And that makes me smile.

JRocco

You have to think past just the coins to what the family structure is.
What will happen to the wife's jewelry?
Do you and/or your significant other have anything else of value? Paintings/nice furniture/Plasma TV???

Talk to your family members.
This is or should be at least a hobby. Ask if your kids or dependents would want to
keep your collection or sell it? Would they want to keep the Mrs engagement ring or sell it?
Would they want to keep the dining room furniture or sell that?
If they vote to sell the family jewelry I would talk to them about how best to do that to maximize their return...the same
with my coins. If they said that they wanted nothing to do with them I tell them where or how to sell them.
I have already had this talk with my family. I know where they stand and have already advised them to the best of my ability, the
rest is up to them.

MORGANHUNTER2

when I die- the gran kids MAY get them only if the parents are not screwing around and hurting my babies- if they are- then I'll spend them at a friggin White castle for my last meal...



oh- Cubs will win the SERIES>>>>>>>>

nickel

keep meaning to do this , but have not yet shown my wife how to read my codes ,
where to bring the coins , etcetera .
since there is no real estate or sizable stock portffolio ,
life insurance is not sufficient for a funeral , therefore
my coins shall lay me to rest .

1 names of dealers to sell to
2 grey sheet with hi-lighted bid prices of
coins in dansco albums
3 index cards showing how to read cost
codes for slabs and higher priced coins
4 where to find PM prices , and understand formulas
to determine value of 90 % junk silver , and AGW of foreign
and US gold .
5 other stuff as needed .

stman

I had a letter with certain dealers to go to, if the coins were to be sold. But, I kept crossing off dealers as time went by. Hahahaha

I've been selling my coins for quite some time. Most are gone. Since I do not expect to live much longer I have the funds, and I'll probably spend most of that as well.

YaHa

My son and daughter will have the forunate gift of having my collection. As my son is a Y/N and my daughter knows what gold is I think after giving the correct leads or trusted people in my will my kids will remember me as a cool dad that will fatten their livelyhood. As I struggled as a kid and both of my kids are proving to me that they are worthy of carrying on my families name they are such deserving.

I tell my son and daughter the first time I see a cig or here or find out they did drugs they will not get anything until they are at least 50 years in my trust. It sickens me that someone would wasted $6.00 for a pack of cigs or $20 for a small bag of weed or a $20 crack rock to escape the problems that come along with being in a free place that we call the great USA. I worked too damn hard for my values and seem with my lack of education that some seem to remind me of I feel they have the knowledge not of what others do or teach them but the knowledge of what Dad has showed them.

SO be it and hope this answered your thread. George

NHSBaseball

I would hope that one of my kids or (hopefully) future grandkids will catch the collecting bug and want to keep them. Otherwise, sell em off and give someone else the chance to own them. Use the funds for a vacation or something. What the hell, I won't be here to complain!

NHSBaseball

<< <i>I bought a metal detector because of all the folks on the boards who say they are "taking them with them" >>

Bear

Ifen I can't take my coins wiff me...

Then I am just not gonna go!

edix2001

I'm more curious to know what happens to me when I'm gone.

SDSportsFan

Unless my sister outlives me (she's almost 10 years older than me), I guess I'll probably take my coins with me. I'm unmarried and have no kids, and the prospects for marriage at this point in my life are dim


Steve

edix2001

<< <i><snip> the prospects for marriage at this point in my life are dim >>



No wife, no horse, no mustache.

GFourDriver

It's going to be like that scene from "A Christmas Carol" where the old hags come in rip down the drapes, steal his bed sheets and anything else not nailed down. Bah Humbug.....lol.

mozin

When my time comes, I hope I am told by my doctor that I will have only a year to live. This will allow me to dispose of my collection in the most favorable way, that being the best auction venues. It would also give me something to do that I will enjoy for my last year of life, dealing with my coin collection. This way, I would not feel badly when I dispose of my coins.

If God takes me without notice, my wife will put my collection up for auction bit by bit. My collection is all encapsulated, so she will not be taken badly.

ChrisRx

I am selling them all off when I retire.

sumdunce

I told my wife to throw them all into the wood stove and then sell the scrap metal.



S





























Edited to add:

OK, tell the truth... how many of you just spilt some of your coffee?

Bochiman

<< <i>Unless my sister outlives me (she's almost 10 years older than me), I guess I'll probably take my coins with me. I'm unmarried and have no kids, and the prospects for marriage at this point in my life are dim


Steve >>




Daddy! I've been looking for you for years! Remember mom from years ago???

edix2001

<< <i>When my time comes, I hope I am told by my doctor that I will have only a year to live.
<snip> >>



My doctor told me I only had one month to live. I told him I couldn't afford his bill, so he gave me another year.

AU58WALKERS

when I am gone, I usualy lock them down in one of my safes.

melvin289

Sorry, This is not my first post been a member for years. Had forgotten my password and asked PCGS and I ended up a new member?

melvin289

<< <i>Sorry, This is not my first post been a member for years. Had forgotten my password and asked PCGS and I ended up a new member? >>



Now I'm back to me again. Like Steve I have never been married and have no children. After I'm gone I really don't think my coins will be high on my list of priorities.

Ron

I don't guess I am back to me. Oh well, almost 4 years and almost over 1800 posts down the drain.

PerryHall

I told my wife to call Heritage Auctions after I'm dead. I told her that if she sold my coins to a local B&M coin shop that I would come back and haunt her.

TwoSides2aCoin

The beauty of this hobby is that I don't care enough to fret about tomorrow. When I'm gone, scavengers will do what they always do. They will tell my heirs that " these widgets are worth melt !"


Hopefully silver will be up to $500 per ounce by then

YaHa

<< <i>I'm more curious to know what happens to me when I'm gone. >>



If they throw you into a dumpster in a alley somewhere in Washington Dc. Or give you a honorable burial why should you care.

If you remember the movie Beetlejuice when Beetle needed to see the doctor or the devil himself his number was 1,800,200,01 so as I see it get in line because I already have number 3 for the big Coin SHow in Heaven my brother.

RWB

My coins are already “gone,” so when I’m “gone” I guess that will complete the set.

500Bay

I have left detailed instructions on how to dispose of the collection.

For those who say they would like to leave intact for their heirs - that is fine if they are collectors. Even then, they may wish to sell some of them and develop the collection in their own style.

Just curious, has anyone here inherited a well thought collection (not just an accumulation) and kept it intact?