Dream Scenario

GoldenEyeNumismatics · January 25, 2007 1:59PM

so, a relative passes away and you are asked to help sort through the junk in the attic. You come upon an old dusty box and open it up. Inside are rolls and rolls of uncirculated (insert favorite coin here). What would you do....

sell them and make some $$$?
keep them all yourself?
sell some, keep some?
give them away?
anything else?

AUandAG · January 25, 2007 2:08PM

Oh man,,,,,sell one a year! Ooops, my fantasy is the elusive 1895 morgan business
strike! Oh man,,,,,,thanks and I'll probably not sleep tonight!
bob

airplanenut · January 25, 2007 2:11PM

Let family know what's there, and express interest in it as a collector. Hopefully, your share can include it. To stay quiet would be dishonest at best.

basestealer · January 25, 2007 2:12PM

Hmmm. If I was "helping" the rightful heir, I don't think I would be entitled to keep or sell the coins. If I had inherited them, I would keep what I found fit in my collection and sell the rest.

Artist · January 25, 2007 2:25PM

A few years ago, a relative of a family friend passed away and I was asked to appraise her "coin collection."

I sorted through it all - all twenty-some boxes - and when I finished I gave the following report to the family:

The bad news is, that there was virtually nothing of collector interest in the entire lot.

The good news, is that the face value of all the coins comes to $897.42.

They were pretty happy.

mcheath · January 25, 2007 3:04PM

If I was the sole heir and it was tons of unc rolls of a key date like 1822 dimes or 1878-s halves I would sell one or two a year for a long time. I also wouldn't tell anybody

alfalfa · January 25, 2007 3:15PM

I don't know that I would consider a relative passing away a "dream scenario."

RJ

TomB · January 25, 2007 3:28PM

I agree with alfalfa entirely.

<< <i>I don't know that I would consider a relative passing away a "dream scenario." >>

fastrudy · January 25, 2007 6:00PM

I don't want to mess up the dream. Could you make it an in-law that passes away?

cheezhed · January 25, 2007 11:58PM

PrivateCoinCollector · January 26, 2007 12:56AM

This is a tough one. Tough in the sense of managing expectations and trust. I'd share the information about what I found with them and ask them if they want me to help them figure out what to do with them. Here is where the saying "money if funny" starts to dance. Some people will say "just offer me something for them," other will ask "what do you think they are worth?" will say "thanks" and take them to somebody else. And still others would show some sense of gratitude for my honesty and offer to give me one or sell me one at a significantly lesser price. The fact is in this dream scenario, the find is not mine. I am just the guy who recognized it. In my dream scenario, I buy them from someone after I find them in the bottom of a box during a yard sale, o'h and by the way the seller happens to be dazzilingly attractive 30 something who does not care what they worth as she just inherited 10 Million. Then there is the part in the dream when she looks at me and we fall instantly in love and live happily for 20 years in Rio until the money runs out.

urfunny07 · January 26, 2007 1:06AM

<< <i>I agree with alfalfa entirely.

<< <i>I don't know that I would consider a relative passing away a "dream scenario." >>

>>

<< <i>

>>

funny

Longacre · January 26, 2007 2:21AM

An elderly uncle of mine just passed away the other day. I normally handle his tax matters and will probably be asked to handle the probate and other issues. I could not imagine not telling his daughters/grandkids, etc. the full story on things or keeping something secret. I know your question is a hypothetical, so I will answer that I would tell the family what I found and suggest a way to sell the coins if they wish.

SanctionII · January 26, 2007 2:32AM

Tell the family of course and offer to assist them in whatever they decide to do with the coins. If the assistance is time consuming and has substantial value, I would, up front, decide what I am willing to do for free and what I would want to be paid for. I would then make a proposal to the family. If they said yes, then we have a deal, If they said no, I would still offer to fo for them what I had decided I would do for free.

Not telling the family would be wrong.

A person's character is revealed by the choices he/she makes when no one is watching. Tell us what your choice would be in this hypothectical. Would you tell the family or not?

Dream Scenario

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