I Sold My Collection Yesterday

You do realize you have a moral and legal obligation to report this good news to the IRS...right? :just-sign:

 

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Congratulations, and I'm happy you're satisfied with the results. I'm sure it couldn't have been an easy decision. I've been playing with the same idea, but just as a way to finance a large-size collection.

 

'Diggit thumbs his nose at the IRS.


Lucky Canadian.......

 

Ha! I thumb my nose in their general direction because I'm a Canadian.

My accountant will take care of the tax issues. Not my forte.

 

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A normal person collects coins? I think not. Just look at the cast of characters in this forum alone!

Besides, I do have a good sized collection of coins...ancients, world, U.S. and Canadian including a sub-collection of errors.

 

Celebrating a nice sale doesn't include the words "tax implications" in this thread. It's like bringing that up the moment someone wins a million dollars.

 

Yeah, "tax implications" are four letter words here...er, three and twelve letter words...Oh, you know what I mean!

Bruce

 

It's just money. You will still search and find others. My kids have no interest in my collections of coins and currency. They will or might just spend them at face value. It's the enjoyment of finding things, that interest you. Just have fun.:hail:I have collected most of my life, and I still do not know the total value of my entire collections. It's the SEARCH, getting a good deal, or finding the coin or currency that someone did not notice.

 

A Word about House-Buying

The massive drop in home prices is NOT over. There's a huge number of pending foreclosures overhanging the market, and the low-hanging fruit (so to speak) has already been picked, in that the strong buyers have already made their deals.

If you have plenty of time to hunt for a house, here are two avenues to consider. (1) run an ad in CraigsList or somewhere else "free," stating that you want to buy a house with certain specifications; that way, it is one buyer dealing with multiple sellers, instead of multiple buyers dealing with one seller, as per Multiple Listing Service, etc. (2) Pay attention to estate sales (of household goods) listed in the newspaper; often the next step is to put the house up for sale. If there are squabbling heirs desperate for money, you can cut a great deal (but have the house inspected by a PRO, all the systems, roof, electrical, plumbing, termites, foundation, etc., etc., because lots of elderly occupants defer maintenance due to the costs and street smarts required. And if the seller(s) are rushing you, find out why. Keep in mind that for some situations requiring environmental clean-up, like long-term oil or herbicide spills on rural property, the buyer is responsible for clean-up, not the seller. And find a good real-estate lawyer before you start. For several hundreds in fees and consultations, you might avoid thousand$ in problems. Ask for his/her credentials, do not hire a divorce lawyer. Good luck!

[a Realtor for 16 years, now retired from that madhouse]

 

Ikandiggit, Good luck on your new ventures. Would you consider this serial a keeper ?

Dave

 

Congratulations! I toast your new success and a fresh start!

 

Nice! There's nothing like getting paid for having fun.

 

Congratulations. Its always more easier to sell everything at once rather than pieces. Plus the stack of cash is very tempting.

 

It's Awesome that you were able to trade your entire collection of paper money in a single transaction for a different collection of paper money!

 

A nice looking number but one I would pass on if it was in circulated condition. Close but no cigar