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<p>[QUOTE="philologus_1, post: 7598076, member: 92212"]Yes. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" /></p><p><br /></p><p>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. </p><p><br /></p><p><b>#1. Organization. </b>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.</p><p><br /></p><p><b>#2. Who will handle the sales? </b>Decide who you would like to handle the dispersion of your collection. Ask that person if they would serve in that capacity. Make <i>sure</i> they are trustworthy, knowledgeable about the type of coins in your collection, and has experience selling AND consigning <i>via</i> 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)). </p><p><br /></p><p><b>#3. Communication with heirs:</b> (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. </p><p><br /></p><p><b>#4. Maintenance.</b> Keep your coin records updated, and advise all parties of any contact info changes.</p><p><br /></p><p>Having said all that, I must add that the above plan is my CONTINGENCY plan. (Though it is in place!) My <u>primary</u> 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 <u><b>SOLE</b></u> 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". </p><p><br /></p><p>(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.)[/QUOTE]</p><p><br /></p>
[QUOTE="philologus_1, post: 7598076, member: 92212"]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. [B]#1. Organization. [/B]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. [B]#2. Who will handle the sales? [/B]Decide who you would like to handle the dispersion of your collection. Ask that person if they would serve in that capacity. Make [I]sure[/I] they are trustworthy, knowledgeable about the type of coins in your collection, and has experience selling AND consigning [I]via[/I] 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)). [B]#3. Communication with heirs:[/B] (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. [B]#4. Maintenance.[/B] 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 [U]primary[/U] 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 [U][B]SOLE[/B][/U] 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.)[/QUOTE]
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