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You Can't take It With You........ (updated for Fathers Day)
DBSTrader2
Posts: 3,498 ✭✭✭✭
You Can’t Take It With You…….
..... and They (the kids) Can't Take It With THEM.................
Dealing with all the records and memorabilia & clutter this past year since my Father's passing, as well as taking a good look at what we'd leave behind for our kids to deal with when our time comes, I've come to the realization that we have amassed way too much "stuff" to saddle our survivors with.
As such, I've started trying to toss old, unnecessary records, create piles to donate and/or sell at a garage sale or flea market, etc.
And I've started thinking about what to do with my coin collection.
My thought all along has been that, while not valuable, my collection is an extension of myself and one of my loves growing up. It connects me with my grandparents, alongside whom I first started collecting, as well as represents old coins that just aren't made anymore. My plan continues to be to pass them along to both sons for them to hold onto and hopefully add to over their years & then pass them down to their kids.
At the same time, however, I have once again started questioning the logic of holding onto some modern stuff, such as the set of state/territory quarter rolls I have set aside for each of them. I seem to ponder this every few years or so, but it seems much more appropriate now that one son is ready to move half-way across the country to start his career, and the other is a year away from possibly having to make a similar decision.
While both appreciate my collecting, neither has the same "bug" as I did when I was their age. The idea of sending them off weighed-down by 50+ rolls of quarters they'd have to drag with them from place-to-place, many of them not worth much more than face, just doesn't make sense to me. Add into the mix my continuing vision issues, which has really interfered with my ability to look at & appreciate my coins' inherent beauty (the glare off any coin, if it catches me right, can ruin the rest of my day, vision-wise, unfortunately), and maybe it's time to let go somewhat.
Previously, I posted questions to fellow Forum members re: the best way to sell/cash these rolls, given the reality of their overall value. While the first year or 2's worth of rolls came primarily from the Philly Mint via the local Fed window, once that source dried up, I got most of the remaining rolls either from the local bank (still uncirc, and primarily H/T), and a few from trades/purchases. And a few came from banks, but H/H or T/T, so they're just my or the bank's word for them. Most rolls are Philly mintmark (except, it seems, when they were hard to find or more valuable, when I seemed to end up getting Denver rolls.....). I'd have to go thru them again to see exactly what I have, with which mintmark, and whether each is Mint/Bank/human-wrapped, in order to know their true value or offer them to anyone.
I still am fighting past the the idea that I walked down to the Fed or over to the bank for many years/releases, or paid a premium for others over time to achieve a complete set of all State & Territory quarter rolls - - and have sunk more into acquiring them than I'd likely ever recoup. And I'd hate to just turn them in to the local bank at face, knowing they'd either just give them out as change to average customers who'd just break them up and spend them, or to someone knowledgeable at the bank who'd turn around and make a profit off selling them vs me. Not to mention I'd be dooming a full collected set to being broken-up....... In many ways, that bothers me the most.
In the past, a Forum member or two has offered to buy the whole collection off me at somewhat over face & shipping costs, and taking into consideration some of the more valuable roll prices - - which I just wasn't ready to do at the time. While I truly appreciated the offers at the time, I thought it was kind of a waste for them to have to pay for shipping for many "worthless" rolls as a favor to me (although I'm sure it's still worthwhile to someone more educated than I in looking for slab-able coins, even in "average" rolls). I just wasn't ready to pull the trigger. Maybe I thought deep down inside that my boys would finally take more of an interest in them......
But reality and practicality may finally be hitting home, and I may finally be ready to move on, and either look into selling everything outright to a local dealer at a coin show (if they're even interested or willing to give me a fair price), or to a Forum member (either complete, or just "cherry-picking" the more valuable rolls & turning the rest in to a bank). Or, I may contact my old co-worker with whom I made so many trips to the Fed & bank before I retired, and see if he needs/wants to buy 2 more sets for his expanding brood of grandkids.........
Other Forum members' thoughts on the subject?
..... and They (the kids) Can't Take It With THEM.................
Dealing with all the records and memorabilia & clutter this past year since my Father's passing, as well as taking a good look at what we'd leave behind for our kids to deal with when our time comes, I've come to the realization that we have amassed way too much "stuff" to saddle our survivors with.
As such, I've started trying to toss old, unnecessary records, create piles to donate and/or sell at a garage sale or flea market, etc.
And I've started thinking about what to do with my coin collection.
My thought all along has been that, while not valuable, my collection is an extension of myself and one of my loves growing up. It connects me with my grandparents, alongside whom I first started collecting, as well as represents old coins that just aren't made anymore. My plan continues to be to pass them along to both sons for them to hold onto and hopefully add to over their years & then pass them down to their kids.
At the same time, however, I have once again started questioning the logic of holding onto some modern stuff, such as the set of state/territory quarter rolls I have set aside for each of them. I seem to ponder this every few years or so, but it seems much more appropriate now that one son is ready to move half-way across the country to start his career, and the other is a year away from possibly having to make a similar decision.
While both appreciate my collecting, neither has the same "bug" as I did when I was their age. The idea of sending them off weighed-down by 50+ rolls of quarters they'd have to drag with them from place-to-place, many of them not worth much more than face, just doesn't make sense to me. Add into the mix my continuing vision issues, which has really interfered with my ability to look at & appreciate my coins' inherent beauty (the glare off any coin, if it catches me right, can ruin the rest of my day, vision-wise, unfortunately), and maybe it's time to let go somewhat.
Previously, I posted questions to fellow Forum members re: the best way to sell/cash these rolls, given the reality of their overall value. While the first year or 2's worth of rolls came primarily from the Philly Mint via the local Fed window, once that source dried up, I got most of the remaining rolls either from the local bank (still uncirc, and primarily H/T), and a few from trades/purchases. And a few came from banks, but H/H or T/T, so they're just my or the bank's word for them. Most rolls are Philly mintmark (except, it seems, when they were hard to find or more valuable, when I seemed to end up getting Denver rolls.....). I'd have to go thru them again to see exactly what I have, with which mintmark, and whether each is Mint/Bank/human-wrapped, in order to know their true value or offer them to anyone.
I still am fighting past the the idea that I walked down to the Fed or over to the bank for many years/releases, or paid a premium for others over time to achieve a complete set of all State & Territory quarter rolls - - and have sunk more into acquiring them than I'd likely ever recoup. And I'd hate to just turn them in to the local bank at face, knowing they'd either just give them out as change to average customers who'd just break them up and spend them, or to someone knowledgeable at the bank who'd turn around and make a profit off selling them vs me. Not to mention I'd be dooming a full collected set to being broken-up....... In many ways, that bothers me the most.
In the past, a Forum member or two has offered to buy the whole collection off me at somewhat over face & shipping costs, and taking into consideration some of the more valuable roll prices - - which I just wasn't ready to do at the time. While I truly appreciated the offers at the time, I thought it was kind of a waste for them to have to pay for shipping for many "worthless" rolls as a favor to me (although I'm sure it's still worthwhile to someone more educated than I in looking for slab-able coins, even in "average" rolls). I just wasn't ready to pull the trigger. Maybe I thought deep down inside that my boys would finally take more of an interest in them......
But reality and practicality may finally be hitting home, and I may finally be ready to move on, and either look into selling everything outright to a local dealer at a coin show (if they're even interested or willing to give me a fair price), or to a Forum member (either complete, or just "cherry-picking" the more valuable rolls & turning the rest in to a bank). Or, I may contact my old co-worker with whom I made so many trips to the Fed & bank before I retired, and see if he needs/wants to buy 2 more sets for his expanding brood of grandkids.........
Other Forum members' thoughts on the subject?
0
Comments
sorting through 40 years of accumulated numismatic (and other) materials.
The concept I keep coming across is: This stuff is worth "something" to "someone", and "it would be a shame to just throw it away",
but how to get rid of it in a cost/effort/time efficient manner??
Liberty: Parent of Science & Industry
Agree you can't take it with you so when that time is near I would just blow it all out on the Bay as infrastructure already there via my ebay store. No pity for them, too bad so sad.
Or
``https://ebay.us/m/KxolR5
I guess that suggests another option..... get cremated & have my collection melted-down for silver at the same time?!
;-o
..... and They (the kids) Can't Take It With THEM.................
I still am fighting past the the idea that.... I have sunk more into acquiring them than I'd likely ever recoup. ... Not to mention I'd be dooming a full collected set to being broken-up....... In many ways, that bothers me the most.
You have run into the "Mega Mint" that has been used by Congress to generate ever more "spending money" for giveaway programs that has never slowed down. They didn't stop with your Quarters, but created another series. I'm alarmed at all the mass produced issues that are flooding the market, and siphoning money from real collector coins of value. Twice as many commemorative issues have been produced in the 34 years since 1982 than were produced in the previous 90 years (1892-1982).
With over a billion coins of some Statehood issues struck, and hundreds of millions of most of the others, only the Mint makes a profit. Everyone else takes a loss, and in my opinion, the US Mint is the enemy of numismatics, not its friend.
I have no easy solution for your predicament, except to say you have already lost money, and it's not likely 50,000,000 new collectors are going to pop up to rescue you, or all the other victims of the Mint, who naively paid more than face value for Quarters still warm from the presses, worth precisely 25 cents. And still do.
So get whatever you can for them, because you'll never get what you paid, sorry.
my early American coins & currency: -- http://yankeedoodlecoins.com/
First, I'm sorry about your vision issues and hope there is some way to correct it.
Also sorry about the loss of your father.
I assume you'll keep your personal collection.
I like that you say how it connects you with your grandparents, etc.
I think you should ask your sons if they want them.
I'd tell them how you sort of amassed them, for them.
I would also tell your sons that's it's perfectly ok not to take them and that would be a wise choice.
I'm of no use on how to sell them.
Plenty of others here ready to help with sound advice.
"If I say something in the woods and my wife isn't there to hear it.....am I still wrong?"
My Washington Quarter Registry set...in progress
I've been slowly and surely dispersing the hoard in the past couple of years and will accelerate the offloading in the next few months.
Same.
Hope to get a little further this year
If you don't do this, a number of people will be at the door before your body is cold, offering your widow 10 cents on the dollar.
"Seu cabra da peste,
"Sou Mangueira......."
We have enough space, so we can keep it
to
Let's simplify and get rid of some of this stuff
to
If it does not bring joy, it is gone.
95% of my coin collection will probably be gone within 3 years. Photos are being scanned, and most hard copies tossed. 2 sets of China gone. Even my SnapOn tools are going away.
The kids have identified what they want, not what we think they would want, and so the purge begins.
Napalm is looking pretty good right now.
K
1) They will not know.
2) I will not know.
3) The separate policy more than covers the loss.
My father passed very quickly, and had an EXTENSIVE stamp collection, both US and British. He did not have time to organize it. He was into obscure varieties, water marks, etc.
He gave me information on who to help dispose of the collection.
The US stamp person had died 20+ years earlier, and the British stamp person himself died 4 months after my dad. 95% of it still sits in safety deposit boxes 6 years later, trying to sort what is what (low priority, so it is my fault)
I had to go in to my sister and her husband's home after they died 8 years ago. Fruit still in the bowl on the counter, milk in the fridge, clothes in the washing machine. My sister owned a business with 15+ employees. No wills, no estate planning, no list of assets, nothing, and all of it 1500 miles from me. No children, no pets, but it took a LONG time to plow through it all, having to deal with stuff, pay bills, keep the business solvent until it was sold, etc. Pareto: 90% of the stuff accounts for 10% of the value. The challenge was clearing out the 90% quickly to focus on the 10%, but knowing if it was a 10% or 90% was daunting.
I feel ya on what you are doing.
You and I traded on more than a few of the rolls (SHQ and Prez$).
I went through a couple of years ago and cleaned out much of the dupes I had of the unopened rolls (usually H-H and T-T, but even H-T).
I kept 4 figures worth though.
For the last few months (spring cleaning time again, and making room in the safe box) been contemplating if I even care about the ones I have there. Like was mentioned, unlikely to be worth anything in my life time....but that wasn't why I was saving it there...was for my son....something "cool" maybe, for him or his kids many years down the road.
However, when I read the posts of people, watch kids, listen to them (around numismatics and other things), and watch my son as well, the whole unopened bit is less appealing to many.
Show a nice coin, and it means something. Show a different looking coin and it catch attention.
SHQs and Prez$ may be there for a complete collection, but there is nothing that many like about all of them....maybe a few, but not all.
So, I may end up just paying for pizzas and lunches with mine this year. Maybe some to the bank...after all the hassles of going to the banks and trading to get them in the first place. Loss on shipping that was paid, but, pay some bills, buy some food.
Leave the kid(s) the nicer coins....slabbed. Some danscos. Some OBW rolls for silver roosies that I bought from a board member years ago.....and likely a run of "modern" mint/proof sets from the 1950s on up.
I will need to winnow out even some of the slabbed and maybe some raw morgans and others, over the coming years, as I want what he "inherits" to be manageable for him.
So, I do understand what you are looking at and thinking.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
I'm probably over-thinking this, given how we're only talking about disposing of $1k face............. but it's more what they represent (my lost youth, perhaps) more than the actual money......
Looking forward to more responses!
- - Dave
Maybe I have YOU to blame for my predicament?!
If you hadn't swapped with me to enable me to complete my set, I wouldn't be so torn about having to break them up now? ;-) LOL!
If your son does't want them, you can always solve part of your problem by shipping ME the raw Morgans! ;-)
- - Dave
On that note, if they're no fun, don't have them.
``https://ebay.us/m/KxolR5
Given the small following on that Forum, I thought I'd alert anyone who might be interested in checking it out as well.
Thanks!
- - Dave :-)
I along with many of the folks here have started to look at downsizing and simplifying life.
Up until about a year ago I refused to even think about my own mortality. I was working 60-80 hours a week, feeling fine, then out of the blue, got hit with a neurological disease that turned my extremities to mush and left me on long term DB. Since then it's been hospitals, rehab, doctors, and therapy. Heck, now I don't even buy green bananas anymore!
Also, 3 years ago my only child passed so I really have no one to leave anything to except my fiancée (she's quite a bit younger than me).
I'm seriously considering unloading all of my coins and collectables except my silver rolls. Figure she should be able to sell these for the Ag content and I do still love chasing down and collecting these old rolls.
HH
1947-P & D; 1948-D; 1949-P & S; 1950-D & S; and 1952-S.
Any help locating any of these OBW rolls would be gratefully appreciated!
Sorry to hear of your troubles, and hope things improve ASAP!
- - Dave
Perfect Father's Day:
All kids communicated, no presents that could not be eaten.
No physical "stuff" to hang around. They are getting the message Dad is downsizing.
Hope everyone had a great 4th of July weekend!
Well, I finally pulled the trigger & am taking the first step to purge my collection of the state/ATB quarter rolls!
61 rolls with a listed value under $11 are going to the bank today, leaving me with 55 to work on selling-off........
For anyone interested, I can provide a list of what I still have - - just PM me with interest & an e-mail address to send the list to.
Thanks!
- - Dave
A couple of thoughts. I wouldn't worry to much about leaving behind rolls of state quarters and other coins that are worth face or a little more. Most people have hobbies or indulgences that are gone when they pass. Someone who has a starbucks coffee everyday for 20 years---can't recover the $10,000 spent on it. Or the greens fees for hundreds of rounds of golf. Collecting these coins are part of living and pleasurable to you----and your heirs can at least get something for them. Thanks
Finally, someone who "get's it". I couldn't care less what my heirs receive when they run pell-mell for the nearest dealer after my death. It will STILL be more than the coins were worth to them.
I've never understood the "Oh my Lord, I'm buried in this collection at 10,000.00. My grandkids will never break even on it." collectors who at the same time they are lamenting the future loss on a coin will gladly spend the same 10 grand on a golf outing to Scotland--not a dime of which will ever be recovered.