7 coins to pass down and keep in family for next 100 years under 500 each.
pennyannie
Posts: 3,929 ✭✭✭
I know when the time comes a lot of my stuff will get sold. I have decided to go with a one box strategy. Everything I want them to keep will fit in a 12 inch by 12 inch box 12 inches high. They should not feel compelled to sell everything as my other holdings should leave them comfortable. In the box goes some cool ww2 collectibles and a worn out 1921 Morgan dollar my mom carried from 1940 until she passed in 2014. A couple of unopened gas dollars from my wife's side and a saint guadens 20 for from my mom. Now for the seven coins under 500 each.
1. Just picked up a proof barber quarter in pc63 green bean to boot had to use 10 percent eBay bucks to get under 5oo
2. Proof Indian cent
3. Cappedoff bust half
4. Target toned buffalo nickel
5. Seated half
6. Colombian commen in 64pl
7. ??
What would you pick? some on this list can be had fairly cheap, really the cheaper the better but all slabbed. There should be room for another 6 cheap slabbed coins, 1883 liberty v nickel, 1942 proof Lincoln; I hope I do not go anywhere for another 2o years but you never know. I will not know what they do.
NGC registry V-Nickel proof #6!!!!
working on proof shield nickels # 8 with a bullet!!!!
RIP "BEAR"
Comments
I do not know what I would pick for this box, but since my favorite coin is the 1943 steel cent, i would probably put a high grade PCGS/NGC one in there; they are actually quite a lot more expensive than you would think.
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2021 Young Numismatist of the Year
Some candidates that come to mind:
I would think that at some point soon after passing the wishes of the deceased aren't going to be followed unless it becomes part of a formal trust where a 3rd party held the coins. Figure most everything will be sold shortly after you are gone despite your wishes. I wouldn't overthink it.
If it were me and I was forced to do it.....I'd choose some fairly inexpensive slabs in the $50-$150 range and leave it at that. Things like a VF/XF bust half, VF/XF Barber half/quarter, MS63/64/65 common Morgan with color, colorful MS63/64 Columbian half, MS64 Oregon, etc. We'd all be surprised at how quickly inherited items get sold. The $$ always seems to run out too quickly. And I'm not sure I'd want to pass down my love of collecting to any heirs, and have them wade through the same mistakes that newbies invariably make if they decide to pick up the baton. It's a steep learning curve.
Roadrunner is right on.
Also, no one will in reality want to "store" a 12" cube for long never mind hand it down for 100 years. Why even do this? If your heirs are not into coins why impose this burdon on them.
JMHO.
It doesn't surprise me that much. I think of how fast @Bear 's Legacy Collection was sold.
One way to avoid this may be to put the coins in a trust to be disbursed only after one's children are of an adult age to enjoy the hobby more. A better way is to pass down the hobby while one it can be shared together per below.
An alternate approach is to teach and collect together. It seems like @wondercoin and @CoinHusker are passing their hobbies on well and it's great to see that here.
Perhaps a bit macabre, but this thread does lead one to consider whether some collectors of the past may have had a few of their most prized coins buried with them. There are rarities that seem to have disappeared over time and I guess this might be one explanation.
My heirs already are inheriting a group of coins. I'm not about to buy any new ones.
Nice thoughts... however, things rarely work out as planned in these circumstances. That being said, if such a plan makes you happy, and on the chance that it will be carried through, I suggest a WLH and a Morgan dollar... Cheers, RickO
I'm bringing mine into the afterlife with me. No telling where I might end up and what the price of admission might be. Can't be to careful.
Mark
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
To answer the OP's question, how bout a nicely worn early half cent?
"Got a flaming heart, can't get my fill"
I think a beautiful late-date Standing Liberty quarter could be had in nice Mint State for under $500.
Kind regards,
George
Get a golden companion for your St. Gaudens - a nice two and a half Indian. Or if you want to be totally goofy, get your favorite design in one of the hockey pucks.
A high grade common CC dollar. Would go with that pocket carried on very well.
bob
7x500 = 3500
I'd suggest 2 generic PCGS graded 20 Saints in 64
Today they run around 1375 wholesale ask.
Fill whatever balance with silver Eagles.
If the genes run a bit to the dense side in your heirs, then substitute a couple of American Gold Eagles for the Saints.
The only reason I suggest Saints is for the likely scenario of a regulation of bullion in the next HUNDRED years.
And in either case, the legacy is not apt to require a lot of expertise.
My own trust specifies bullion by ounce to separate heirs and the "collection" to be split with my kids.
And they can do whatever.
IMO
I see no reason to buy coins for a legacy collection.
Instead, share with your family the coins that matter to you. Tell them why certain coins are dear to your heart. If they understand your affection for certain pieces, they are more likely to want to preserve them as a family heirloom, whether or not they really care about the value of collectible.
I'm going with a blue PCGS box, vacuum sealed, and having it placed in my coffin. I'm taking my top 20 with me. Screw everyone else!
Great transactions with oih82w8, JasonGaming, Moose1913.
Thanks Zoins coins. As I stated publicly, nearly a decade or so ago, I set aside the Unique 1976 No S Ike Dollar for my son Justin (as the "only" coin he ever truly wanted to own). So, now he has been around coins another ten years (including this past year as a dealer) and lusts after yet another coin as well. And, herein lies the "problem". When you really enjoy coin collecting you simply can never get your fill of coins.
As an aside, I really like Nap's approach to coin collecting.
Wondercoin.
I already have many "family" coins:
They will probably all get sold (by me) at some point. My wife and kids don't actively collect, so I don't want to burden them with the selling.
I can tell my heirs all the stories I want, but unless I get some third parties involved in some kind of perpetual, legal trust or something, there's no way from preventing them from selling my prized coin collection on the way home from my funeral.
Liberty: Parent of Science & Industry
I say a nice CC morgan, a $20 Saint and Trade Dollar or Seated dollar would be nice to leave behind
Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
It's interesting for me to think of William Strickland's then new, modern 1700s coins that were kept in his family for 170 years before being sold off by his descendent, Rowland Winn, aka Lord St. Oswald. How many families keep coins for that long?
@Nap 's approach of treating coins as a family heirloom may help with the longevity and family history.
My adult children have minimal interest in my coins. They are courteous when I talk about them, but beyond their curiosity about wanting to know their value, they have no desire to share my passion (but they are happy that I enjoy my collection).
It's OK and I don't force the issue. I see no reason to push the collection upon them when I die.
"Got a flaming heart, can't get my fill"
Hopefully the intrigue of family heritage will outweigh the need to sell any of this. Perhaps there are some coins you have owned that have been part of your core collection-identify those that made you happy as a collector and make that part of the family heritage that gets passed on... This should be about what you think is significant ...
Experience the World through Numismatics...it's more than you can imagine.
Okay, a bust dollar in that price range and a Sony Playstation.
Now THERE is a legacy, grampaw.
Some of you may remember my thread when I helped a friend dispose of her fathers collection. He had put hand written notes in with the coins that meant something to him. I can tell you from this experience that it meant a lot to his daughter to read these. She kept some of them just because of the hand written notes. heart-warming-holiday-coin-story
For example,
One of the coins was a 1964 Kennedy Half Dollar. He had a note on the 2X2 that said, "I stood in line 4 hours at the bank today to get this coin".
he had a box full of all the proof silver eagles up till 2008 when he got too sick to keep collecting. One of the mint boxes had a note that said valuable. He had cut out a small article from Numismatic News about the 2008 reverse of 2007 and put it in the box. He had coins with notes saying how they were found by Uncle..... and brought back from the war from ....
I just opened a 1997 Jackie Robinson Commemorative dollar and I find a note on the certificate inside,
"I saw him play at Wrigley Field (Chicago) 1950 Brooklyn Dodgers Versus Chicago Cubs"
Some interesting thoughts, I only have one kid and he is 25 now and interested in a lot of this stuff. If he runs out of money it will be bad management on his part and I plan to control some of that from the grave. I plan to disperse well before I pass. As I posted my mom passed a few years back and my dad has decided to downsize alot of his stuff and dispersed what he feels he no longer needs or wants to deal with. My wife's mom is at the same point sometime this year she is going to hand out the 5 sets of Morgan dollars she and her husband put together in the 1970's for there 5 kids. No one gets a 1895. The 12 inch cube is no issue for my son as compared to the 3 gun safes that are 48inch wide by 78 inch tall and 28 inch deep and weigh 800 pounds empty each is what he really wants with the contents. Everything is subject to change but I hope to leave my wife and son with no financial worries so the few things I pass down should not have to ever be sold.
I never realized how much stuff I have accumulated until we sold our small hobby farm in Texas for a section of land in Oklahoma and had to move it all. They will have a lot to deal with if I go unexpected. Selling the cows can be done in week, the rent property fairly quick and the equipment sent to auction. Selling the ranch will take a little time.
Bear passed a few years back and I don't believe it turned out like he hoped it would.
My son and I share a lot of same interest in hobbies he just does not have the extra cash to play
NGC registry V-Nickel proof #6!!!!
working on proof shield nickels # 8 with a bullet!!!!
RIP "BEAR"
I think that if I ever did have kids that they would not be interested in any of my hobbies or anything I would one day pass down to them...If it was coin related I would likely save up for some high graded Carson City Morgan silver dollars and call it a day there!
High-grade slabbed Walking Liberty half dollars. And my antique gold pocket watch.
Successful BST transactions with forum members thebigeng, SPalladino, Zoidmeister, coin22lover, coinsarefun, jwitten, CommemKing.
Talk about your stick-in-the-muds....
OP wants to have some fun with this, it seems, and he isn't saying everyone's family will handle things the same way and he isn't asking how each individual family would handle it...nor is he asking for actual advice.
I'll answer the OP and his actual question, rather that state my opinion of how things will play out when I am gone....
Before seeing your post, just from the subject line, I was thinking a nicely toned proof IHC as well.
I would add in a nice morgan (undecided if it would be toned/blast white right now)
A nice half cent
A nice large cent
A $2.5 gold piece
A war nickel in MS
A nice seated half...most likely AU
....and, just to round it off for fun, either a nicely toned SAE or a 2006 annv issue or 2011 annv issue (or maybe a proof).
(honorable mention, which could break the rules a bit, but be fun, would be a 1956, 1957, or 1958 double mint set...original.
Also honorable mentioned would be a SLQ..maybe a nice 1917 T1, and/or a 20c piece)
With the above, most of them are easily under $500 (each) and will give a "type set" type of thinking in case any of my heirs want to go that route...items with all their legends discernible, and no problem coins.
Now, my son does have sets with me, and has chosen many of his own coins, but is also high school age and in sports...and discovering girls now, so we are taking it slow, as his attention is divided
If all things go well, it won't be him I am leaving a small group of coins to, but rather his kids.
I am hoping that I don't need to sell many of our coins, as I get older, to pay bills/travel/etc, but can hand them down to him to hold/collect/sell as he sees fit and needs.
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
2.5 Ind. TY1 and TY3 gold dollar in MS63. MS64 barber quarter. MS64 BN Large cent.
It seems to me the best legacy to pass on is one that occurs while you are living...
In honor of the memory of Cpl. Michael E. Thompson