If one was to leave this Earth and leave a Spouse or Children your coins....

ormandh

How would you insure that they would get a fair market value for your collection? What if you have half of your collection catalogued and the other half in boxes loose and not really accounted for?

Is there a dealer or someone else you trust to liquidate your collection? I am just curious. -Dan

lordmarcovan

Yes, it would be good to leave them the name and contact info of a dealer you trust. Perhaps a dealer who's younger than you are and can be expected to outlive you. My wife knows to contact one or the other of my two best forum friends, both of whom happen to be a little bit younger than I am and who also happen to be full time dealers. (Coincidentally in the same shop, now.) Not that I've got much of an estate, really. But I've got some stuff that my wife or daughter would need help liquidating, for sure.

This is another reason why organization is important. You can't expect the loose and unorganized stuff to bring very much for your heirs because it will take them and/or the dealer(s) they carry it to a whole lot of time to sort out, usually.

ajaan

I think my wife has the same name Rob's wife has.

JCMhouston

Mine is all organized, and a spreadsheet with cost basis (updated for each purchase) and current values (updated every year where possible). Also has a sheet with names and contact info for where to sell through.

ormandh

I agree with all of your points. Thanks for sharing. -Dan

DoubleEagle59

<< <i>How would you insure that they would get a fair market value for your collection? What if you have half of your collection catalogued and the other half in boxes loose and not really accounted for?

Is there a dealer or someone else you trust to liquidate your collection? I am just curious. -Dan >>



List them on Ebay starting at a $1.00.

You'll get market price.

agentjim007

I have about $5k tied up in coins. I don't tie up much for that reason.

List them on Ebay starting at a $1.00.

Disagree. I've watched many items sell cheap like that and eBay is about to get almost as expensive as the major auction houses. That's why most sellers with nice coins use BIN. Starting at $1 is probably a good idea for junk dealers don't want.

SmEagle1795

In the event that all of your listed dealers don't outlive you, I would include contact details of Heritage just in case. They'll take care of your heirs.

MrEureka

My heirs have all the info they need to liquidate the good stuff. The thing that worries me a little is the loose, unsorted crap. Not because they might not get full value, but because I don't want to burden anyone with the chore of sorting it all out.

BTW, if you ever see an eBay listing for "Bag of Unsorted Indian Cents from the MrEureka Estate", or anything else like that, it probably really will be unsorted.

lordmarcovan

<< <i>My heirs have all the info they need to liquidate the good stuff. The thing that worries me a little is the loose, unsorted crap. Not because they might not get full value, but because I don't want to burden anyone with the chore of sorting it all out.

BTW, if you ever see an eBay listing for "Bag of Unsorted Indian Cents from the MrEureka Estate", or anything else like that, it probably really will be unsorted. >>

I for one would welcome an opportunity to sort through "MrEureka's Unsorted Crap". And there's no need to wait for your demise- I'd volunteer to do it while you're still kickin'!

worldcoinguy

It sounds like I need to add a new ebay search to my list: MrEureka's Unsorted Crap.

As for me, I keep a list of the good stuff with current price approximations. I think Heritage would be the best recommendation, but I have told my wife to reach out a fellow forum member for some guidance in case my clock runs out unexpectedly. He knows who he is.

nicholasz219

The hard part is really doing all of the sorting and valuation. I am working on making sure that anything that I really want to keep in my collection for the long term is properly marked. I have to figure out the estate planning but basically everything goes into a trust for my daughter. The appropriate contact people will be known to my Mom and others as it changes. Sadly, no multi-million dollar estate here. But if I enjoy it for a lifetime and it nets some untold thousands or gets passed on to a worthy collector, great stuff in my opinion.

It would be nice to see a comparison of spreadsheet types/inventory styles others are using. I am still in the organization, divestiture and labeling phase. Once I want to put a proper spreadsheet together it would be nice to have to create it from scratch. I also need to buy a camera, seriously, so I can document the stuff properly.

NJMark1

Mine says " I will pile it all up..Burn it..And sell at scrap metal value"...eheh true fact