Coins and Divorce Question

JapanJohn · February 1, 2011 10:38AM

Best to keep coin collection or liquidate before a divorce?

I'm sure a few guys here have experience with what the best route is.

John

TexasNationals · February 1, 2011 10:44AM

Wait for llafoe, I know cheap shot bud, but I had to take it. Luv ya

Frankcoins · February 1, 2011 10:44AM

Keep your coins, ditch the bítch.

taxmad · February 1, 2011 10:45AM

Do you want to give her cash or coins?

cape · February 1, 2011 10:45AM

If I had it to do over... Keep the coins !

RYK · February 1, 2011 10:46AM

What coins?

llafoe · February 1, 2011 10:50AM

#1 - Best to attend counseling.

Should that fail, if you wish to keep your coins, HIDE them... not from the Court, from your soon-to-be ex-wife.

Get a Blue Book, appraise your coins, give her half and then go window shopping in Korea!

Edited to add: Has anyone seen TexasNationals?

Sonorandesertrat · February 1, 2011 10:50AM

Divide the coins. She doesn't know what 'scudzy' means, does she?

raycyca · February 1, 2011 10:51AM

Are you seperated? If so, then if you acquired the assetts while married, they are marital property. If you dispose of the marital assetts before settlement, you can be held liable. One because you violated the rules as set forth in the divorce application/notice. Second you are liable for 50% of the value of the sale. If you are not legally seperated, you can dispose/disperse ALL or any marital assetts. Do this ASAP. Parents, siblings/GOOD friends, etc. Then in court you can state they were dispersed prior to the seperation and she can't do anything. I KNOW WHAT I'M TALKING ABOUT. I am acting as my own lawyer and have a case going before the state supreme court. I haven't had settlement and have learned al you want to know. If you have questions you can PM me. Good luck!

Lakesammman · February 1, 2011 10:53AM

Keep your coins, ditch the bítch.

Well, I guess that DOES keep it coin related.

Hey, SaintGuru - what say you??

JapanJohn · February 1, 2011 10:53AM

Not separated. Not yet but within the next couple months. Trying to be equitable and get her established and not just march her to the main gate.

JapanJohn · February 1, 2011 10:56AM

<< What coins?

>>

Tempting but I've never gotten away with anything in my whole life. It's a certainty I'd get caught.

llafoe · February 1, 2011 10:56AM

<< Not separated. Not yet but within the next couple months. Trying to be equitable and get her established and not just march her to the main gate. >>

Maybe one of the side gates?

19Lyds · February 1, 2011 11:01AM

<< Best to keep coin collection or liquidate before a divorce?

I'm sure a few guys here have experience with what the best route is.

John >>

It totally depends upon your wife. Or ex-wife that is.

If this is an amicable separation, something comparable could be traded for the coins. My ex was fully supportive but I did make a point of defining that which was mine before we married vs that which was accumulated after the marriage. Of course, she initiated the action and I'm sure carried a certain portion of guilt but that's really neither here nor there.

You really need to be upfront with your ex regardless of how some folks might advise you to "hide" your assets since it can only snap back in your face as far as a judge is concerned.

LindeDad · February 1, 2011 11:04AM

The value at Blue book is probably true she will probably sell to a dealer and she will be lucky to get that. Or offer to buy her half at that value.
Also what are the rules over there for items purchased prior to marriage.

Broadstruck · February 1, 2011 11:07AM

<< Keep your coins, ditch the bítch. >>

7over8 · February 1, 2011 11:10AM

what coins? oh, you mean those rusty steel cents and a few state quarters?

Rampage · February 1, 2011 11:10AM

I am not married, but I am curious to know what happens if you acquire your coin collection before getting married and then separate or divorce later? Does the collection still get divided, or is it still yours (or hers)?

MsMorrisine · February 1, 2011 11:14AM

become Japanese!

drwstr123 · February 1, 2011 11:18AM

She won't eat the mushrooms????

LindeDad · February 1, 2011 11:19AM

<< I am not married, but I am curious to know what happens if you acquire your coin collection before getting married and then separate or divorce later? Does the collection still get divided, or is it still yours (or hers)? >>

This depends on where the divorce takes place. The law is different in different states and in this case countries.

LindeDad · February 1, 2011 11:21AM

<< what coins? oh, you mean those rusty steel cents and a few state quarters? >>

This kind of action can end up in you paying more in legal fees than the collection is worth.

goodmoney4badmoney · February 1, 2011 11:24AM

launder the best, admit to the rest.

Juan · February 1, 2011 11:26AM

<< 

<< I am not married, but I am curious to know what happens if you acquire your coin collection before getting married and then separate or divorce later? Does the collection still get divided, or is it still yours (or hers)? >>

This depends on where the divorce takes place. The law is different in different states and in this case countries. >>

That would depend if yours is a community property state. In Oklahoma (community property state) anything acquired after marriage is jointly owned. So my retirement from the federal gov't is mine since I had it prior to marriage.

notwilight · February 1, 2011 11:28AM

<< Not separated. Not yet but within the next couple months. Trying to be equitable and get her established and not just march her to the main gate. >>

John,
A bit of unsolicited advice:

1. Don't expect fairness in return for fairness. I, and many others, learned the hard way. Once the divorce starts, it's just business and dirty business is expected by the court and they won't punish her for it. Protect yourself from her underhanded dealings. If your wife is near menopause, expect insanity. Play hardball upfront and save yourself and her a lot of legal fees. Hire a closer. I piddled around for 2 years. then hired the meanest lawyer in town and was divorced in a month. Could have saved $500,000 in legal fees if I'd done that up front. And it would have been better for her too, although she would never admit it. Get in, get out, get on.

2. Until divorce papers are filed, you can do anything you want with your coins. liquidate them and spend the money. you can also take out whatever loans you want and so can she. I have a friend who was divorcing and thought she was being fair. Then she found out her husband accepted 3 of those $50,000 cash advance credit card deals they were passing out like candy just before the credit crash. He bought his new girlfriend a boob job and jewelry (gifts) and they went on a couple of very expensive vacations. The debt was 1/2 hers because it happened while they were still married.

Now I'll repeat 1 above: just because your wife has been sane and fair and honest in her previous life, don't expect her to keep it up.

--Jerry

Juan · February 1, 2011 11:28AM

Allow a VERY good friend to steal them. Or go boating and the boat tips an fishing gear and coins fall in the depths. Or sell them and pay off all YOUR debts.

messydesk · February 1, 2011 11:28AM

To answer the original question, it's best not to discuss such plans or ask advice for same on a public forum.

chaze215 · February 1, 2011 11:30AM

Ya know why divorce is so expensive? Because its worth it!

Bochiman · February 1, 2011 11:30AM

<< #1 - Best to attend counseling.

Should that fail, if you wish to keep your coins, HIDE them... not from the Court, from your soon-to-be ex-wife.

Get a Blue Book, appraise your coins, give her half and then go window shopping in Korea!

Edited to add: Has anyone seen TexasNationals?

>>

Were you 2 married to each other or something?

notwilight · February 1, 2011 11:31AM

<< Allow a VERY good friend to steal them. Or go boating and the boat tips an fishing gear and coins fall in the depths. Or sell them and pay off all YOUR debts. >>

Paying off your debts is the last thing you want to do. those debts are half hers. --Jerry

JapanJohn · February 1, 2011 11:32AM

<< To answer the original question, it's best not to discuss such plans or ask advice for same on a public forum. >>

Just curious as to what has happened with others here. I know there are some deep deep pockets guys on here who have mentioned getting divorced and I'm still kind of waiting for the "OMG whatever you do don't do this because here's what happened to me" post.

JapanJohn · February 1, 2011 11:33AM

<< 

<< Allow a VERY good friend to steal them. Or go boating and the boat tips an fishing gear and coins fall in the depths. Or sell them and pay off all YOUR debts. >>

Paying off your debts is the last thing you want to do. those debts are half hers. --Jerry >>

No debt to speak to speak of. One piddly credit card bill that could disappear today if I wanted it to.

John

HalfStrike · February 1, 2011 11:34AM

I thought you sold that collection a long time ago, remember?

yellowkid · February 1, 2011 11:38AM

The best thing to do is not to let them know how big your collection is, probably a bit late for that advice now. I would keep the coins, come up with a liquidation number and give her half, of course you would have to value your pieces at less than grey sheet.

coinguy1 · February 1, 2011 11:47AM

It depends. Do you want to be fair and honest about it or to behave unethically? Many of the replies, thus far, seem much better suited for the latter.

notwilight · February 1, 2011 11:52AM

<< It depends. Do you want to be fair and honest about it or to behave unethically? Many of the replies, thus far, seem much better suited for the latter. >>

Don't confuse preparing yourself for her unethical behavior with unethical behavior on your own. Two wrongs don't make a right but getting down to business instead of letting her treat you unethically is no different than we expect to be treated in the coin business. --jerry

tradedollarnut · February 1, 2011 11:56AM

I sold my seated dollar set for twice what it would have been figured at before the divorce and told her everything just to be fair. And in return, she was fair to me even though her atty wanted to take me for everything I had.

In my eyes, it's far more important to be able to hold your head high throughout life. She deserves half of what you can easily get for it - no more, no less.

Lakesammman · February 1, 2011 11:56AM

Ya know why divorce is so expensive? Because its worth it!

<< To answer the original question, it's best not to discuss such plans or ask advice for same on a public forum. >>

Boy, now I know what I like about this forum.

All kidding aside, I usually side with Coinguy1.

SNMAN · February 1, 2011 11:56AM

<< Not separated. Not yet but within the next couple months. Trying to be equitable and get her established and not just march her to the main gate. >>

Sorry to hear, best wishes!

snman

Shamika · February 1, 2011 11:59AM

.

BaseballAbs · February 1, 2011 12:00PM

<< Not separated. Not yet but within the next couple months. Trying to be equitable and get her established and not just march her to the main gate. >>

Sorry man, that sucks! I think you should say your sorry and keep the coins.

You know the Colonel Ellsworth gave some advice at the last coin show. He told a guy at his booth, whenever you buy a coin and your wife later asks how much did you get that coin for, your answer is 40 bucks. They can relate with $40, a pair of shoes on sale at Nordstroms is $40. Otherwise you just get a blank look of confusion and then judgement. They just don't understand.

I know this probably can't really help you and I'm not saying to lie to your wife, but i just thought i would throw that in for a little perspective on the thinking of some women that may be in your life. It gave me a little laugh to hear him say this.

I have been through some of what your going through before. All i can say is do what you can to make her happy and keep your coins if you can. You really have to be fair with her no matter what you decide, It's the right thing to do.

themaster · February 1, 2011 12:03PM

Not a situation that I wish to be in a second time. Best case scenario, first to the courthouse holds the reins.

Damage "control".

Please think of all involved.
Louis

notwilight · February 1, 2011 12:03PM

<< I sold my seated dollar set for twice what it would have been figured at before the divorce and told her everything just to be fair. And in return, she was fair to me even though her atty wanted to take me for everything I had.

In my eyes, it's far more important to be able to hold your head high throughout life. She deserves half of what you can easily get for it - no more, no less. >>

That depends on the state, the law, the length of the marriage, etc. For example, in CA, on my house, she was entitled to half of what we paid off in principle while we were married. Since we refinanced, took money out and bought her a BMW, she was not entitled to any of it. I still live in it. So coins you owned before the marriage may be treated differently. My coins that I owned 100% before the marriage were never even discussed.

--Jerry

BaseballAbs · February 1, 2011 12:03PM

Good Luck!

mrearlygold · February 1, 2011 12:10PM

Honesty is the best policy.

Always

DrBuster · February 1, 2011 12:10PM

Sell it to a buddy for $100, buy it back after the divorce for $1000. Shouldn't have any trouble finding takers.

llafoe · February 1, 2011 12:11PM

The advice you'll receive will not be similar to what you'll experience during YOUR divorce.

Remember, every divorce begins with marriage. If you don't want to experience the trauma of a divorce, don't get married! (This is advice for the single guys... it's too late for you John.)

Keep your sense of humor, get over it and move on... do it now!

shorecoll · February 1, 2011 12:17PM

Funny, I've had two dealers warn me that divorce is a common side-effect of numismatics...I guess you guys all prove it.

Harry779 · February 1, 2011 12:42PM

replace all the nice stuff with crap.hide the nice stuff.

mozin · February 1, 2011 1:05PM

In a divorce, it is every man for himself. Don't ever think otherwise. Remember, attorneys are involved, so expect every sh**- a** trick in the book to take every dollar you have.

coinguy1 · February 1, 2011 1:13PM

<< replace all the nice stuff with crap.hide the nice stuff. >>

I can only imagine the outrage that you (and others who have suggested something similar) would feel and express if that were done to, instead of by, you.

Depending upon the laws of the state in question, and how/when the coins were acquired, the wife might have LEGAL rights to them and/or their proceeds. And that's in addition to the ethical considerations.

Coins and Divorce Question

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