We're all gonna DIE

When the time comes I will arrange for an auction house to procure the collection. No one in the family is particularly interested in the coins, but I'm sure they would enjoy the money along with the investments and real estate in the family trust.

 

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Spithridates Achaemenid Persia satrap of Sparda (Lydia and Ionia) ca 334 BCE AE10, 1.20g Head r, Horse PI, COP 1538


Hmmm... Dunno. All the folks ever featured on my coins are DEAD... they seem to be ok...

Perhaps:
"ΤΩΙ ΚΡΑΤΙΣΤΩΙ..."
ΜΕΓΑΣ ΑΛΕΞΑΝΔΡΟΣ, June 323 BCE

 

I have made the arrangement and the instructions are in my will and written down for the executrix.

I have several areas of collecting that will be disposed of:
1. I have left detailed information on the dispersal of my coins. I have included auction houses for some and for others I have listed the contact information of those to whom I will leave some coins. I have a list of my computer passwords included, so my wife or the executrix can find my spreadsheets detailing all of my coins. This information is also included in binders which include a photo, attribution, and other relevant information.
2. I have several guitars that will go to family members. I have no children so these will go to nieces and nephews. These include a Martin and Gibson acoustic, as well as a custom-built strat from the Fender Custom Shop.
3. I have over a dozen pieces of original commissioned comic book art from some of the best in the field including the incredible Neal Adams. These will go to one of my nephews.
4. I have over 20 Montblanc writing instruments. These will be split between the nieces and nephews.
5. The 20 or so mechanical watches I own will go to one nephew in particular.

 

For myself, my wife is going to take care of the collection. I have made written instructions for her, and I have the privilege of having a good friend with knowledge in ancient coins to help her. The good news: I even planned to distribute some of my coins to CT members who became friends over the years. The bad news: I do not intent to leave this world for several decades.

P.S. Hoping nobody will hire a hitman after my confession...

 

That seems like good news to me!

 

Hoping to have plenty of years ahead but it has crossed my mind in case of something happening. I've already told my wife what to do with the coins I have. At some point I may choose to reduce my collection and thought about first offering to CT members before trying to sell anywhere else, if only because I know CT members would appreciate it and take care of the coins as I would. (not to say other collectors wouldnt)

 

I am reminded of a customer who came into my shop some 20 years ago with an inherited stamp collection. I told the young woman that it would take a few days to go through it all, in order to offer fair value. "It was so thoughtless of him not to have sold it before he died!", she complained. "I only want what I can get today..."

Don't be "thoughtless". Sell your collection when the time is right. Take a nice vacation with the proceeds and leave your heirs an album of travel photos.

 

My plan is to gradually reduce my collection in size, while expanding in quality. In the end I hope to have a collection consisting of good auction material. I discuss this with my daughter. We have agreed that a goal for the family should be that the next generation is a little better off than last generation.
Like @Ocatarinetabellatchitchix I plan to stick around for at least a few decades more, but at the same time you never know. If I go today, she will be all right economically (not wealthy, but ok).

Downscaling size to prioritize quality isn’t only a «death strategy» (but thanks for reminding us, OP ). I find that I’m losing pleasure with lower end and common coins these days. At the same time I’m really good at buying them

 

I don't want to jinx it, but I would like to think I will manage to last a bit longer too... However in these covid times the discussion came up a few times. So, I have created a pdf with precise instructions on what to do with my collection and also highlighting the current value and provenance of every coin. Luckily living in London will provide many outlets to sell my coins if my relatives wish so. Roma's premises is just a 40 minute train ride away....

But my main instruction is to try and get my offspring to become interested in my various collectibles. At the moment they are referred to as 'daddy's treasures' so I am hoping the interest will gradually grow. I want the collections to stay in the family if possible.

 

I am planning to set up a living trust some time this year.

I think the entire collection will be donated to either Stanford or the ANS. This is all in the embryonic stage right now.

 

I thought you were referencing the recent Leu auction. Seems like the most basic bronze coins were going for 3000 CF.

 

I don't mean to seem flippant, but I don't really care what happens to my coin collection after I die. If any of my heirs takes an interest in them, they can work it out with the family. If no one wants them, they can sell them. Either way, it's not going to make much difference to me.

 

I assumed it was a reference to foreign kings, conquered and pillaged.

 

I'm leaning towards putting an addendum in my will leaving $1000 for the executor to hire someone to run naked thru the streets throwing my coins into the air.....

 

I have enjoyed reading your plans for taking care of your coins when you pass. My father had a "collection" of sorts and it was in his will that it would be split between my brother and I. I made a list of all the coins a currency and divided them as good as I could into A and B. Then I let my brother decide which one he wanted. He lives in California and I am in North Carolina, so it was an issue for him to package the one that was for me and send them to me. I was grateful for the coins that I got, because it started me into coin collecting. Most of the coins were U.S. and worth face value. None of them were in great shape. I was a novice and didn't know about CT. I thought that Franklin Mint was a creditable company and that Rick and The Coin Vault, as well as Mike and others, were honest in their values and prices. My first purchase was from Mike on his nighttime show. I bought 10 1921 Morgan Dollars in a tube. When I got them, I thought they were in great shape.
Anyway, back to the subject, I have bought coins from the Mint, ebay, and Mount Vernon. Although the prices are high in the Mint and the RV shows, if there is a coin that I like, I have enough set aside to buy what I want. My collection is not worth too much, but I like what I got.
As for the disposition of my coins, they will go to my wife with my instructions on how to take care of them or sell them. If I am the only one left of the two of us, my son will get everything. I have two daughters that have spoken to me since their mother decided to divorce me to marry her high school heartthrob. That was in 1994, so you know what they will get.....

 

I am thinking about this same plan. I went form the 1st 12 Caesars to the firs 30+. I am thinking about going back. And on the US coin front, cashing in everything for a 1795 dollar and maybe a 1793 chain cent.

 

I like that and how it has not changed.

 

Yes.

FWIW/IMHO: As one who has given this concept MUCH thought, spoken at length with multiple collectors on this subject, and liquidated a large collection of ancient/medieval/world coins... my personal plan and my suggestion to others is below.

#1. Organization. Organize your collection in some way such that every coin can be connected to a photo of the coin AND to each coin's basic info such as: (a) From whom it was acquired. (b) Date of acquisition. (c1) Amount paid (noting whether that price does or does not include fees and S&H). (c2) Total amount paid for the entire collection. (d) Concise/Accurate attribution. (e) Notation of any significant related info such as: if it was from a famous collection, if a COA exists in your possession, if it is a plate coin from a reference book, etc.

#2. Who will handle the sales? Decide who you would like to handle the dispersion of your collection. Ask that person if they would serve in that capacity. Make sure they are trustworthy, knowledgeable about the type of coins in your collection, and has experience selling AND consigning via more than just one manner/method/source. Explain to that person in some written manner your specific desires AND how your collection is organized (spreadsheets, word docs, emails, computer folders, back up system, catalog system/numbering, location(s)).

#3. Communication with heirs: (a) Tell your heir(s) that all is taken care of, and give them all of the correspondence (from step #2) you have had with the person you selected. (b) Be sure all parties involved above have each other's full contact info: address, phone, and email. (c) Explain to your heir(s) that dispersal may take months, and that it is unrealistic to assume the net proceeds of the dispersion will equal what you paid. (d) Insist your heirs reimburse the person selected in #2 above in some specific manner. Perhaps a reasonable percentage of the gross, or perhaps a generous flat fee. Be specific.

#4. Maintenance. Keep your coin records updated, and advise all parties of any contact info changes.

Having said all that, I must add that the above plan is my CONTINGENCY plan. (Though it is in place!) My primary objective re: parting with my collection is to do exactly as I have already promised my wife: Sell everything and use the money for a very nice trip around the world together with her. But the problem with making such a wonderful plan the SOLE plan is that accidents happen, illness falls suddenly, natural and civil tragedies occur, etc. Accordingly, having a detailed contingency plan in place seems wise. Be careful assuming you will live long enough to finish collecting, somehow hear a magic bell when the perfect time to sell arrives, and then move forward with a dream plan -- and have the health to do so. As a good book I read from time to time cautions, "you do not know what tomorrow will bring... you are a mist that appears for a little time".

(My father had a great plan. Retire, sell everything, and move to a comfortable cabin in the Rockies. That was his story and plan since the time I was a teenager. He became ill out of the blue, was diagnosed with terminal cancer, and died within a month. He was 57. Never made it to his retirement age -- or to that cabin.)

 

My collection goes to my 2 grandsons (don't have any granddaughters). Everything is stipulated in my will that they do not receive it till they are 25 yrs old which is not long because they are both 23 now (Irish twins). I have all the receipts stored and it has been explained to them were everything is. All sets have been recorded on Excel spreadsheets and most coins and currency are in a safe deposit box. The insurance is a little expensive but worth it. Cant do much more. The collection is probably worth $15 to $20K now depending upon the market which is quite good nowadays. I hope it increases in value for them.

 

Since I collect coins based on genealogy, they mean more than just a regular collection. My daughter has expressed interest and is more than willing to continue the collection for future family members, preserving the historic significance. I've recently curtailed my purchases of new U.S. coins since I think the U.S. Mint is headed in the wrong direction. But German and Welsh coins are now my main focus, with older U.S. coins secondary.