What to do with collection

Mmhalkin · February 12, 2020 7:42PM

I'm no youngster...no one I know is interested in this hobby. Any suggestions about where I should want to see my collection go after I'm gone?

Jimnight · February 12, 2020 7:46PM

I'm taking mine with me.

Strikeguy · February 12, 2020 7:49PM

That is such a sad question. I have heard so often. Sadly the last gentleman I knew asked that same question. He ended up selling to a crappy coin store fella who took total advantage of him. My friend was in and out of real thinking and clear memory. He passed away few months later. He was happy and had no idea he was totally taken advantage of. I know the seller and buyer. The buyer was bragging about how he took a older red book to show the seller the prices. This was maybe a year ago now. I am still sad by this when I think on it.

So knowing this, if I were you, I would contact my friends and see first if they are interested in all or parts depepding on what they collect.

joeykoins · February 12, 2020 8:29PM

First of all. Welcome to school. I say school because you'll be taught in many areas. Such as, in ethics, manners and in business. If you want to learn mostly about coins you certainly came to the right place. Post often, don't be a stranger. Ask any questions you may and please, don't take anything too personal. Most of all, have FUN! I see you started off with an unusual request. If you don't mind me asking, don't you have any family that might be interested in your collection? I do know you already mentioned that none are. What a shame. How about any neighbors or their kids? Meaning, you can offer them pieces of your collection to mow the grass or shovel the walk. You know, reward them with a piece of silver or a part of history in your coins? If not, wouldn't you want to sell your collection now? That way you have extra cash for yourself? One more suggestion, if you stay on our forum, you'll notice, from time to time, we have little contests and games you yourself can make up and give out a coin/coins for the prize? Of course it's entirely up to you. Maybe, wait in a few months or so while here you might come up with a better idea than mine? Anyway. Nice to hear from you and once again ,Welcome to the forum.-joey 😊

Pnies20 · February 12, 2020 8:36PM

We’re interested in this hobby! Tell us about your collection. I come on this side of the forum every day to hear about everyone’s pickups.

morgandollar1878 · February 12, 2020 8:59PM

You could always list some or all of it here. There is a Buy, Sell, Trade forum here where you can list stuff. Most people here are pretty honest and good to deal with.

BryceM · February 12, 2020 9:17PM

There's no one-size-fits all answer. There's nothing wrong with just continuing to enjoy it. If you have heirs, I'd leave detailed instructions about how to liquidate the collection after you're gone. Unfortunately the default for many families is to get stuck on stupid and accept the first offer they get. If the value is more sentimental than monetary, contact a local coin club to see if they have young numismatists who might enjoy it.

if you give us a little more details about what sort of stuff you collect, we might be able to give better advice.

jedm · February 12, 2020 9:28PM

Welcome to the forum. You say no one you know is interested in the hobby, well those of use that frequent this place are interested in the hobby, but you just don't know us yet. Hang out a while... I believe you'll start to get ideas and be able to determine where you may want to see your collection go. Plan on sticking around a while first though, ok?

TomB · February 12, 2020 9:42PM

Well, you are the one who knows when, how and where you purchased the pieces and this would go a long way toward determining how to dispose of them.

Unknown · February 12, 2020 9:53PM

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joeykoins · February 12, 2020 10:10PM

@btcollects said:
why delay the inevitable?

NO-O-O-O-O!!! 😵 lol

1Mike1 · February 12, 2020 11:46PM

I would say it depends on what you have and the value of it. if you have coins that are worth more than a few hundred dollars each, you might consider sending them to an online coin auction. If you have a load of clad coins that come with a certificate of authenticity, I'd keep them in a tin box for a surprise for whomever gets to sort you out when you're gone. I suspect your coins are not high dollar gold and silver otherwise everyone including cousins you didn't know you had would be interested.

291fifth · February 13, 2020 12:17AM

Sell it now. Don't die with your collection. You don't need to actually own coins in order to enjoy numismatics. Collect knowledge.

Twobitcollector · February 13, 2020 2:17AM

I'm in the same situation. I'll be 76 soon.
So some stuff I'm selling on eBay, some goes to the lordm contest.
The real good stuff I'm putting together to send to Great Collections.
The stuff on eBay are items that I know dealers won't give squat for, you know the real dreck we all have.
The items to lordms contest just fun stuff, I want people to enjoy.
Stuff to GC 55 DDO, 09 S VDB and a bunch more mostly graded buy our host.

ricko · February 13, 2020 4:05AM

@Mmhalkin ....Welcome aboard....Some good advice above... The BST is a good, fee free venue and you would be selling to other collectors. Take your time, post some pictures of your coins here to get some idea of the value. Cheers, RickO

calgolddiver · February 13, 2020 8:20AM

@Mmhalkin welcome and let us know what you have !! Lots of interested buyers in this venue.

savitale · February 13, 2020 9:59AM

I'm interpreting your question to be a bit broader than "Where can I sell my collection?" It sounds like maybe you are considering bequeathing it to someone or some institution who would appreciate it.

Unless you have material of significant historical importance or great popular appeal, I think most institutions would sell the collection as quickly as they could so that's probably not what you are looking for. The ANA or ANS might not sell it right away, it would probably sit in boxes in a storeroom until they do.

Depending on what you have, donating it to a local Scouting organization may be an option as those groups do have coin collecting merit badges. The ANA does have YN programs and may be looking for coins to use as giveaways or for educational purposes.

lkeigwin · February 13, 2020 10:12AM

You'll get the best advice by elaborating on what you have collected.
Lance.

yspsales · February 13, 2020 10:14AM

Blow it out, give it away and take the funds and buy something you would enjoy collecting.

We accumulate "stuff"

matt_dac · February 13, 2020 12:41PM

I say collect what you enjoy while you enjoy it, but in approaching the time when you may want to liquidate, start pairing it down. I know many here say 'who cares, my heirs will have to deal with it when I'm gone' but I would prefer to sell off the 'stuff' and just keep a smaller number of higher quality coins for heirs if I know they would enjoy it or just sell everything entirely and use your hard earned resources for some other enjoyment. I would not want my heirs to be taken advantage of, and I would hate the idea of my coins getting sold off without care or recognition of fair value.

Maserati27 · February 13, 2020 12:43PM

@Jimnight said:
I'm taking mine with me.

Lold

Exbrit · February 13, 2020 1:04PM

It really depends on what you have in your collection. If it s substantial - you could donate it to your favorite charity and take the tax write-off. The charity could,then auction the collection and receive the proceeds. Heritage has some forms that will help you designate how the collection is handled. I am donating mine.

2ndCharter · February 13, 2020 1:11PM

The instructions are already written and in the SDB - if I get hit by the proverbial bus tomorrow, the wife and kids call Heritage and tell them to come and get it. The folks at Heritage know of my arrangements and everything will be taken care of properly.

291fifth · February 13, 2020 1:35PM

There is probably nothing the auction houses like more than a dead consignor.

daltex · February 13, 2020 3:14PM

@Strikeguy said:
That is such a sad question. I have heard so often. Sadly the last gentleman I knew asked that same question. He ended up selling to a crappy coin store fella who took total advantage of him. My friend was in and out of real thinking and clear memory. He passed away few months later. He was happy and had no idea he was totally taken advantage of. I know the seller and buyer. The buyer was bragging about how he took a older red book to show the seller the prices. This was maybe a year ago now. I am still sad by this when I think on it.

Why would anyone do business with a "dealer" who bragged about things like this?

Unknown · February 13, 2020 4:03PM

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Strikeguy · February 13, 2020 6:13PM

@daltex said:

@Strikeguy said:
That is such a sad question. I have heard so often. Sadly the last gentleman I knew asked that same question. He ended up selling to a crappy coin store fella who took total advantage of him. My friend was in and out of real thinking and clear memory. He passed away few months later. He was happy and had no idea he was totally taken advantage of. I know the seller and buyer. The buyer was bragging about how he took a older red book to show the seller the prices. This was maybe a year ago now. I am still sad by this when I think on it.

Why would anyone do business with a "dealer" who bragged about things like this?

I totally agree with you. This dealer only brags to those he think he can trust. Those that know him do not do business with him.

Strikeguy · February 13, 2020 6:15PM

@Kirk222 said:
I'm leaving mine to my grandsons. They will probably sell it for next to nothing so they can buy their favorites things. So be it.

Well God willing you will be around long enough and the grandsons will gain an interest in your hobby and can carry it forward for another generation.

2ndCharter · February 13, 2020 6:26PM

There is probably nothing the auction houses like more than a dead consignor.

And that's why you make the arrangements in writing while you are alive - that way, the family gets the maximum realization.

Unknown · February 13, 2020 7:50PM

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Strikeguy · February 14, 2020 9:36AM

@Kirk222 said:

@Strikeguy said:

@Kirk222 said:
I'm leaving mine to my grandsons. They will probably sell it for next to nothing so they can buy their favorites things. So be it.

Well God willing you will be around long enough and the grandsons will gain an interest in your hobby and can carry it forward for another generation.

Well neither one of them gives a hoot about coins. They would sell it in a heart beat. So maybe I'll give it to my granddaughter who lives in Japan. She's treasures everything.

I totally agree, if she treasures everything that might be the right way to go. Maybe between now and then start showing her pictures with information. Maybe ask her easy questions about some of the coins so she can do easy research and you can pull her into the collecting hobby slow and easy like I guess landing a nice fish in the boat. LOL.

What to do with collection

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