Vintage 1936 Proof set in the family-four brothers.What do you do with it?!

We have in a safe deposit box a 1936 and a few other vintage Proof sets, and a another big safe deposit box of other coins from our father who collected and been deceased for 10 years, and there is talk of finally distributing the coins.

Here is the scenerio, two of us collect only the other two do not:

I collect Proof sets, brother#2 collects gold and planinum but can't see selling it and rather one of us own it, but don't know what to do (by the way is the keeper keys of the boxes of all the coins and sets) brother#3 couldn't care less and brother#4 is a ebay seller of anything he can get his hands on to sell (baseball cards,beenie babies ect.) who just want to sell the sets for cash.

Should we get the sets graded and sell the coins as individual pieces or sell them as sets? they seem to be worth a lot more individually but I think it is a sickening thought tearing these sets apart.

Any advice?

 

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Wow, thats a touchy situation. I would be torn. I could never sell my Papa's coins, and I'd fight tooth and nail to keep them or at least keep them in the family, even if it meant paying off the other family members who can only think of cash and the quick buck... Just my 2 Cents...

 

I agree. Pay off your brothers for the rights to keep it. You're the only one that really wants it, but it's only fair that the set belongs to the four of you, unless a will specified otherwise.

The PCGS price guide puts the value at $8200...I don't know how accurate that is. Offer to pay them $2000 each, and start off with the greedy one. It sounds like you can pay off the other two at a more leisurely pace. Since you're all brothers, I imagine an interest-free layaway plan might be feasible.

 

If I were you I would try to sit down with your Brothers and just tell them that the set really means something to you---that is as long as you don't want it just to make a fast buck---and that you aren't just wanting it because it is worth some money but because it means something to you. Then offer to pay them what they think their part would be.

Speedy

 

Thanks guys...

Dak my older brother who is the gatekeeper to the coins said the same thing, that my dad would never want to see these sets in others hands they were for us.

Speedy, that was my thoughts as well pay them off and maybe give up my rights to the other coins so as NOT to break the sets up.

Also these were the only thing he didn't buy four of, obviously even in the 60's and 70's they were pricey and he had the oppurtunity to buy them.

Thanks for the advice............

 

Well I don't think you have to give up your rights to any other coins---I think you need to point out that out of all of them this is one that you really want to keep. Maybe there is another coint that another bro. likes and would like to keep it also...and another coin for another bro. and so on and so forth.

Speedy

 

that is a tough situation - good luck. Speedy is right, maybe if you explain how much the coins mean to you .... i think buying their portion off them is the way it will end, but even 3/4 the value is alot for you to come up with....

good luck!!!

 

If your dad bought four of everything else, then he probably intended for each of you to get one of each.

I would offer to pay your brothers for the sets. I am sure they would rather sell them to someone in the family than a stranger.

What do you want from the other coins that your dad intended for each of you? Your finances will play a large roll in that decision. If you can afford to pay for the sets, then why not split the other coins, and that's the end of it. If you cannot pay for the sets outright, then they could be used as payment or collateral.

Most important thing is honest - open - communication between the four of you. Get together in a private neutral location and just talk it through and tell them how you feel about the coins you want. If you hold anything back, you may regret it later.

Good Luck, hope it works out for all four of you!

Darryl

 

I agree with the majority. Offer to pay your brothers for their share in the sets and keep the coins in the family to pass down rather than sell them to people that you dont know. Believe me, you will regret that decision. Your brothers will be happier with a few thousand dollars in their pocket. That is, if your financially able to do that. I'd certainly find the money somewhere if it meant keeping the set, I mean, those were your fathers intentions right? For you and your brothers to keep the coins in the family?

 

LEMMYK,
I run a service that ELIMINATES problems like this.....if you know what I mean. For a small fee, all of your problems will go away....one way or another.

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P.S. I hope that I haven't offended you. If I have, then I am VERY sorry. My intention was to add a small amount of humor to your subject. PLEASE, forgive me if I have offended you.

 

Pay each brother $1 a week for 2,000 weeks.

 

Now thats my kind of lay away plan!

 

This thread is useless without pics. ehehe

 

Yeah, gotta pay the brothers off, you can't let family history like that get away.

 

be carefull i thought my fathers coins that he had saved for me and my coins that were in the safe with them were safe . but my sisters got in the safe and took every thing his and mine. best part neither one or any one in their families are interested in collecting coins just getting what they can get for them . better luck to you

 

This is a lesson to all of us. If you want your coins (or anything else of monetary or sentimental value) passed on to children in a certain way, put it in your will or pass them on before you die.

 

Send them you me and I'll save them for the next generation.

Ruben

 

Hello and no offense taken, believe me humor actually helps when decisions like this come down and again thanks for the advice everyone it is really is some help to here impartial opinions, because with family it starts to get heated and we all walk away from the issue that is one of the biggest problems, lack of communication.That is why we have just let them sit for a decade.

Paying off the GREEDY one was my first thought as well, because the other two are much easier to deal with, another issue with this one has already taken an entire Indian head collection right after my dad passed away years ago and nothing was said, it was left in my moms house and somehow he now owns these coins which all three of us know he never bought or was given.

Like I mentioned two of us are collectors and don't want to cheat the other two out, but we both know that HE actually has the same right as we do to the sets and coins. But doesn't and never will have any sentimental value to them and told my brother what HE can get for them, so he doesn't have a sentimental bone in his body.

This really bites, I compare this to someone who has an antique dining room set of early American furniture and someone gets the chairs, another the table, and another cart off the hutch cabinet.

It's a shame that these items should and would make anyone happy but this is going to leave a bad taste I believe no matter how this is settled.

I thought of this if no one can come to a decision, Would it make more sense to send the sets in to be graded by NGC or PCGS and sell them off piece meal?

I do know that selling the sets raw to a dealer we will get crushed on the price offered.

Well thanks again for the advice and hearing me out and I'll update you on what the heck happens.

PS: I have four of everything and have two kids, so when I'm gone I hope they don't run into this crap.

 

Yes, all USA coins will be worth more if slabbed...

 

Let me note that I would NOT slab the proof set---just because it is still in the mint holders makes it worth ALOT more to anyone who really knows and has studied them.
Few are left in that kind of packing---

Speedy