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The Rare Coin Estate Handbook by Heritage
Rampage
Posts: 9,675 ✭✭✭✭✭
I just got my copy yesterday. Very good and informative book.
It has a very good discussion on how to inventory your coins so your loved ones don't get screwed when you pass on.
Richard.
It has a very good discussion on how to inventory your coins so your loved ones don't get screwed when you pass on.
Richard.
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I am now in my mid-50's and have made the decision to sell the great bulk, an perhaps all, of my collection in the next year. It's been fun but is time to move on to something new that doesn't involve buying tangibles.
<< <i>My own feeling is that the best thing to do is make sure the coins have already been sold before you pass on. There comes a time when you simply have to say that it has been fun for many years but that it is time to move on. The thought of my family having to sell my collection is frightening. I can just visualize the dealer waiting for them to say the magic words and then procede to "rip" the collection for a fraction of its real value.
I am now in my mid-50's and have made the decision to sell the great bulk, an perhaps all, of my collection in the next year. It's been fun but is time to move on to something new that doesn't involve buying tangibles. >>
I agree with your statement. However, there will be many people who love coins to the point that they do not want to ever sell them. I am still young enough to enjoy coins hopefully for the next 100 years of my life. I am sure when I get to be in my 50s, I would probably do as you did and sell most or all of them.
There will also be those who die at a very young age, say in a car accident or some other horrible act. The family will need something to go on.
What does it say about donating a collection and the tax benefits to the survivors. Maybe you can't take it with you, but you sure can put it in a trust!
Michael
OK, get on line.
Seriously, sounds like a good read.
Les