who really benefits from coin collecting

coinspeak

I started collecting coins from my change as a kid. It grew into a hobby and I began buying coins at shows, privately, from the mint, ebay and so on. Now my spouse wants a divorce and all the coins she can lay her hands on.

My objective was fun and profit when needed. The core collection should be passed down father to son (or daughter)

It takes alot to save to buy and so little to go wrong and make the whole plan not worth it.

TwoSides2aCoin

If it weren't for coins, there'd be no change. So I've benefited a great deal in this regard.

19Lyds

Whew, glad I read before posting!

Unfortunately, the divorce court will not give one hoot as to "why" you collected. Their only concern will be the value that you spent to obtain that collection "during your marriage" vs its current value and how much of that value belongs to your ex. In a 50/50 state, you will have to cough up half of the collections value regardless of your intentions unless you can prove without a doubt that certain coins were your before you got married.

If you want to keep your collection, my advice is to work with your ex in determining which coins were "purchased" during the marriage and then a value for those coins. Be sure to be realistic since the courts will only be looking for an equitable split of the marriages assets.

crazyhounddog

Sell all of your coins to someone you trust and buy them back later after the mess is over with. Your welcome....Joe

BlindTiger

Yes, why couldn't someone sell their collection, be it coins/baseball cards/paintings, etc..... To someone (they trust) for some absurd low-ball amount. Get a receipt, and then by it back later at the same price?

Is this doable? and if not. why? I am not married, just am curious....

I would also suggest , don't get LOST into your hobbies people.!! UNLESS you can succesfully include your significant other/family into your passion.!!
People tend get isolated into their hobbies, often NOT leaving enough time for their spouses, or girlfriend, family etc...

When one decides to take up a hobby, they start reading, going to shows, stores, making phone calls, spending ALOT of time on computer, Ebay, teletrade, Research, Forums, etc....There is nothing wrong with this, in fact, it needs to be done to an extent to be as knowledgable as possible. Hobbies tend to cost MONEY, which is important.!!

But PLEASE do it in moderation, or at times when it is as convienient as possible. Try and include the ones you love into your hobby.
I am addressing those who do this as a hobby and not a full-time job, As we work 40 hrs at something else, and hobbies cut into our personal lives.

Now if your retired, and you both are at home, You need to make sure you make your spouse happy.!! It does not take much to make a woman/man happy.!! Take her on vacations, buy her flowers, Tell her you love her once a Day.!! Cook for her, come up behind her and tickle her sides. Make her Laugh if you can.!
And Ladies, you do the same.!!

Communication with caring sincerity and PASSION is crucial. I know many people who have gotten divorced due to THEIR hobby alone.!!

Tell her you will sell everything and take her on a dream vacation..!! Good Luck.

InternetJunky

<< <i>Yes, why couldn't someone sell their collection, be it coins/baseball cards/paintings, etc..... To someone (they trust) for some absurd low-ball amount. Get a receipt, and then by it back later at the same price?

Is this doable? and if not. why? I am not married, just am curious....

I would also suggest , don't get LOST into your hobbies people.!! UNLESS you can succesfully include your significant other/family into your passion.!!
People tend get isolated into their hobbies, often NOT leaving enough time for their spouses, or girlfriend, family etc...

When one decides to take up a hobby, they start reading, going to shows, stores, making phone calls, spending ALOT of time on computer, Ebay, teletrade, Research, Forums, etc....There is nothing wrong with this, in fact, it needs to be done to an extent to be as knowledgable as possible. Hobbies tend to cost MONEY, which is important.!!

But PLEASE do it in moderation, or at times when it is as convienient as possible. Try and include the ones you love into your hobby.
I am addressing those who do this as a hobby and not a full-time job, As we work 40 hrs at something else, and hobbies cut into our personal lives.

Now if your retired, and you both are at home, You need to make sure you make your spouse happy.!! It does not take much to make a woman/man happy.!! Take her on vacations, buy her flowers, Tell her you love her once a Day.!! Cook for her, come up behind her and tickle her sides. Make her Laugh if you can.!
And Ladies, you do the same.!!

Communication with caring sincerity and PASSION is crucial. I know many people who have gotten divorced due to THEIR hobby alone.!!

Tell her you will sell everything and take her on a dream vacation..!! Good Luck. >>



I doubt his coin collecting is what broke up the marriage.

It is an unfortunate situation, but I would say try and use crazyhounddog's and BlindTigers technique to sell and buy back, if this is possible.

TwoSides2aCoin

A child will benefit with a calm, cool, collective headed approach from his father. That's a fact. Sit him/her down and assure him/her that the marital problems are not their fault. You see, children take it on themselves as being the blame when parents split. A lot of parents even disagree on whether or not to involve the children in the splitting process.
Do not let this happen because it has far reaching negative effects. Why keep a child in darkness ?

____ the coins. I am sorry about your marriage breaking up. Don't let it destroy you.
And whatever you do, do not let anyone take away your dreams and aspirations. They're yours to instill in a child. Man up !

k, off me high horse.

Bcsican

Hide as many as you can it is your only salvation....good luck...

OKbustchaser

<< <i>Sell all of your coins to someone you trust and buy them back later after the mess is over with. Your welcome....Joe >>





<< <i>Yes, why couldn't someone sell their collection, be it coins/baseball cards/paintings, etc..... To someone (they trust) for some absurd low-ball amount. Get a receipt, and then by it back later at the same price? >>



Are any of you who are recommending this familiar with the term "hiding assets from divorce"? It is illegal in all 50 states and WILL end up costing you considerably more than you save if you are discovered...and you more than likely will be.

InternetJunky

<< <i>

<< <i>Sell all of your coins to someone you trust and buy them back later after the mess is over with. Your welcome....Joe >>





<< <i>Yes, why couldn't someone sell their collection, be it coins/baseball cards/paintings, etc..... To someone (they trust) for some absurd low-ball amount. Get a receipt, and then by it back later at the same price? >>



Are any of you who are recommending this familiar with the term "hiding assets from divorce"? It is illegal in all 50 states and WILL end up costing you considerably more than you save if you are discovered...and you more than likely will be. >>



Nope I had no idea. That's why I asked. But, how is it considered hiding when you sold them? Couldn't she just take half of the coin sales and it'd be settled? I'm only 22, divorce procedures and marriage is the last thing on my mind . I'm just curious.

astrorat

<< <i>Sell all of your coins to someone you trust and buy them back later after the mess is over with. Your welcome....Joe >>



Just don't let the court catch you...

Lane

astrorat

And, oh, what about the wife going through a divorce who build a world-class art collection? Should she be allowed to sell it to a third party for pennies on the dollar only to buy it back after the divorce at the same price?

Lane

DarkStar

What is wrong with selling the collection to hide the asset and buying it back later is that it is unethical. It is also fraud, which is a crime.

garsmith

Find a real sleazy B&M that is known for ripping of customers when buying; take your collection to them to get it appraised. Act like you don't know anything about coins, says the set was left to you. Once you get thier low ball appraisal you can show that as the value of the collection.

silvergoldnut

never let your spouse know about all of your collection, if she only knew what i really had. well , she will know if i leave this world.
and than i really don't think she'll be upset when she sees what there worth......

divorce is a fact of life, but always hold a little back just in case.

" honey those morgans are just worth a dollar after all "

TwoSides2aCoin

<< <i>And, oh, what about the wife going through a divorce who build a world-class art collection? Should she be allowed to sell it to a third party for pennies on the dollar only to buy it back after the divorce at the same price?

Lane >>




Come on Lane, you know the rules are different for girls than for boys in this world.

I read the words of a female sports psychologist the other day regarding Steve McNair and her point was that guys should be aware of the dangers of "drugs, alcohol, and women".

lkenefic

It bites, but you should probably be forthcoming at the outset and divulge all of these assets, because you might not have anything if you attempt perpetrating a fraud. I'd rather have half of my collection than none of it.

L

edix2001

Given the statistics that 90% of Americans get married and 50% of those end in divorce, you gotta know what you are getting into before you start.

jmski52

If she's the type who will understate her assets and over-exaggerate yours, then make sure to play the same game, the same way. If she's hiding assets, you hide assets. It's a crumby deal no matter how you slice it, but if you fail to protect yourself, no one else will.

If she's reasonable and you are reasonable, the main goal of the court is to properly value the assets and to split them according to what the situation seems to indicate. Try to take it easy on the kids - both of you.

RedTiger

Too bad about the divorce. Fraud isn't worth doing, especially considering the value of the average coin collection. How much is a person's honesty worth? Fraud for a few thousand dollars or less? Some folks sell themselves cheap. No one will know? You will know. The kids will probably know. The ex-wife will probably know, even if she can't prove it in court.

As for who benefits, the collectors benefit because they enjoy the hobby. The dealers benefit because they make the bulk of the money. As for handing down coins to the next generation, that is a poor plan and I discourage folks from thinking that way. A few coins of sentimental value (and low monetary value) have a much better chance of becoming family heirlooms than a high quality, high value coin collection. Unless the heirs are dedicated coin collectors, inherited coins often end up at a similar place as after the angry ex-wife gets them--sometimes it is the local pawn shop/fish market being sold for cents on the dollar.

telephoto1

who really benefits from coin collecting?

In this case, I'd say your ex, and the attorneys.

astrorat

<< <i>

<< <i>And, oh, what about the wife going through a divorce who build a world-class art collection? Should she be allowed to sell it to a third party for pennies on the dollar only to buy it back after the divorce at the same price?

Lane >>




Come on Lane, you know the rules are different for girls than for boys in this world.

I read the words of a female sports psychologist the other day regarding Steve McNair and her point was that guys should be aware of the dangers of "drugs, alcohol, and women".

>>



My point was that "we" (the collective males) would complain bitterly if "she" tried to pull that, but it is "okay" for us to do it? Either way, it's wrong.

Lane

PerryHall

Does your wife have any jewelry, china, crystal, silverware, etc? The value of this may offset the value of the coin collection.

pennyannie

Sorry about the divorce, i feel for you. I would look at her side of the pile and she what she has. All those shoes, purses, dresses and jewerly add up. Use that to off set your coins. You control the coins at this point and keep it that way. I hope she has not stumbled across reciepts and such.

My first marriage ended after 12 years and 1 kid, at the time we did not have a lot. I basicly let her have the bulk and went down the road. I did not want to be reminded of 12 long years. As time went on she started giving me some of the stuff back.

Hopefully the 2 of you can reach a fair settlement, if you depend on the lawyers both will lose and the lawyers will end up with it.

astrorat

<< <i>Sorry about the divorce, i feel for you. I would look at her side of the pile and she what she has. All those shoes, purses, dresses and jewerly add up. Use that to off set your coins. You control the coins at this point and keep it that way. I hope she has not stumbled across reciepts and such.

My first marriage ended after 12 years and 1 kid, at the time we did not have a lot. I basicly let her have the bulk and went down the road. I did not want to be reminded of 12 long years. As time went on she started giving me some of the stuff back.

Hopefully the 2 of you can reach a fair settlement, if you depend on the lawyers both will lose and the lawyers will end up with it. >>



And what about all the shoes, belts, suits, ties, etc., purchased for the husband?

I am sure it would be best to try and work this out before the JDs start billing for their hours. Best of luck as I am sure it will not be an easy time for either of you.

Lane

FilthyBroke

<< <i>Does your wife have any jewelry, china, crystal, silverware, etc? The value of this may offset the value of the coin collection. >>




There ya go! I bet it will work itself out unless she just wants to hit you where it hurts(so to speak).


Good luck!

Type2

Play the game it's all abought how you play it.

19Lyds

For all the yokels suggesting you hide your assets, shame on them!

The only assets you can for sure take from the marriage without penalty are assets you had before the marriage! Period. However, some of those are also dependent upon situation! In other words, did you sell part of your collection and then buy it back at a later date!

Also, a lot of these folks like to take the high macho road becvause they are NOT in the situation and they CANNOT see how BAD that advice could work out for you. If your ex had a job and earned income, I have no doubt that your marriage "enabled" you to purchase or collect coins which you might not have been able to afford. As such, she is in fact co-owner and has a right to those assets.

My experience has been that, unless she is so mad at you as to want to cause you extreme pain, the coin collection could be negotiated against other assets which you might not care about such as jewelry, furniture, etc.

Work with her through your attorney if large sums are involved. If your talking less than $50,000 perhaps something could be worked out between the two of you but DO NOT sell your collection in an attempt to hide the asset. You might not get it back and if you get caught, you WILL lose a lot more.

Bullsitter

I feel for ya man.....been there done that...

mikeyg

Sorry for your situatilon.Many of us could be there at any time.As suggested by some do not try to hide anything it will probably be found.Try to negotiate so that you get your collection or at least the bulk of it.She may have the affliction that many non collectors have when they pull out a coffee can of coins and say is this worth alot? Meaning she may assume you have a fortune in coins when it is only a few thousand dollars.Again hope all works out for you.

TheNoost

If you have kids, give it to them in some kind of a trust fund so it can't be taken and it gets to who it was meant to get to.

thisnamztaken

Honesty and fairness is always the best policy for maintaining/gaining a clear conscience and one's own peace of mind.

Assuming there will be a 50/50 split of all assets, at least try to arrange it so that your half of the coin collection's value will be distributed to you in actual coins from your collection, especially those that mean the most to you for sentimental reasons or would be the most difficult to replace, etc.

notwilight

I see a lot of advice in this thread from people who haven't been through it, give very rational advice, meant to help but based on wrong assumptions. It is not logical or fair when you go through a divorce. Here is my advice based on experience:

Try hard to strike a deal up front with your soon-to-be ex, even if you have to give her more than half. If you can avoid involving attorneys you'll be way ahead. I offered my ex a check for a well into 6 figures if she agreed not to get attorneys involved. She declined thinking that a greedy bastage like me must certainly be trying to pull the wool over her eyes. We fought for two years, having to pay the attorneys every inch of the way. She asked 3 times for the judge to order me to pay for both her attorney and mine which the judge refused. But after 2 years, even with me only paying one attorney, there was nothing left. I was ordered to pay her $3,000 as a token setlement which her attorney instructed me to just make it out to her as she couldn't pay her bill. I think she still is in debt to the attorney. So instead of me getting 40% and her getting 60%, which is what I was offering her, the attorney's got 125% as I had to take out a second on the house to pay mine. I never added it up but I'm sure that between her and I we paid over half a mil on attorney fees.

--Jerry

golfer72

Been thru one myself. The lawyers make out the best, then the women, then the guy. I would try to hide some of the coins. just make sure she cant find evidence of them. The courts are slanted toward women and they know it. It sucks but its true. The comment about offsettign you coins with her junk was a good one. Do that too. Good luck. Its not just the money that coins are worth but the time and effort put into getting them. Also every coin is different which noncollectors dont understand.

telephoto1

I am so glad I'm single...

rbf

Wow, sorry to hear about your circumstances; that's really unfortunate. Without knowing the whole situation here, my gut reaction is that your soon-to-be ex-wife's intentions are more about being vindictive than about fairness. Unless your wife was an equal contributor/participant in your hobby, it is my belief that your coin collection is YOUR personal property and yours alone. Does she have a detailed inventory of your collection, or much knowledge as to what you actually have? If not, then I doubt anybody would actually be able to tell the difference if you swapped out the bulk of your collection with lower-valued substitutes. Not that I condone this sort of dishonesty per se, but if she is in fact going after your collection for personal reasons, then she's basically stealing from YOU, and therefore you have the right to defend and protect your belongings, IMHO.

OregonCityGold

You could agree to box it all up, send it to Heritage or whoever else you think would buy everything, and split the check. Beats bickering over individual items. If kids are involved, I'd be inclined to give her everything if she would agree to allow you a better-than-average custody arrangement. Good luck, man.

COALPORTER

Come on guys - What kind of coin guy can't hide and cheat a little- I thought it was a prerequiste for the hobby (and some of you are way good at it.)