CC Silver Dollars

Cc

I still have my grandfathers collection of coins that were passed down to me. I will always treasure them. Never sold a one. I think it would be great to pass them down. You could always pass them to me. :smile Just kidding.

 

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In my opinion if you dont need the money then there is no need to sell the coins you can leave them as gifts for your heirs. i am certainly glad my family didnt sell their coins but gave them to me and it allowed me to be the collector i am today but just giving them might not be enough you may have to nurture their interest in the hobby first. just my 2 cents. Ultimately do something that makes you happy

 

It doesn't sound like you are really into collecting coins but you saw an chance to purchase old coins as an investment and did so at a good time. I would suggest if no one is really into collecting in the family to sell the coins and then place the monies into a 529 plan for the kids. You can talk to any financial planner about doing this. It might be a good idea to have the 529 under the kids parents name seeing as you are "advanced" in age and might not still be with us when they are ready to go to college. Also if they decide not to go to college the money can be used by the parents as they see fit.

As for selling the coins find local shops around town and price them all. Only take a few coins each time and just get an idea of what each is paying. When you find out who is the highest then take them all into them. You can also think about having them auctioned off but I would not sell them all at one time as only so many buyers for an 1885 GSA CC will be there at one time. If one sells for $500 then the next would go to the under bidder at $475 and so on and so on. By the time the last one comes up they might only be selling for $400. This of course would take some time and it is some work to find a good auction house.

 

I think people are too quick to sell coins sometimes. Even non-collectors appreciate big old silver coins as part of history even if they don't fully understand the factors that determine their value. It isn't always about the money.