What are you going to do with your collection? (and why).

The two choices I presented are tough.

On one hand, it would be nice to sell my collection when I get old to add money to the money I will get for retirement to live a little better.

On the other hand, I would like to will it to my future children to enjoy.

But when your dead, you don't know if your kids will enjoy it, or just sell it for beer money.

That's what haunts me, I would only will it to my future children if I knew FOR SURE they would not sell it.

 

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I cant plan that far ahead. I would like to pass it to my kids, but you never know what curve balls of life are thrown at you.

 

I don't know either, but, I always thought it'd be cool to bury some decent coins in a remote place and in Air-tites. Just like the thought of making someone's day, a few centuries into the future.

 

tough choices. since I have no kids my girlfriend might get them. on the other hand I might sell 3/4 of my collection for 10-15 higher grade coins. that I can enjoy looking at in my old old age then let my girlfriend have them.

 

You make 60 sound like we have one foot in the grave already . That said they'll go to my son or any grandkids I may have , with written instructions of which coins I think should stay in the family and the rest he can do whatever he wants .

 

Kid doesn't want it...throw it in the incinerator with me!

 

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I plan to leave them to my son who will become the fifth generation to continue the collection. I only hope that he doesn't sell them and spend the money on video games. Some would consider it strange that my family has been collecting for so long and put such importance on it, but it is there for a rainy day. I know that a good portion of the older proof collection that was assembled by my Great-Great Grandfather Gabe was sold during the depression to keep members of the family with a roof over their head. I have spent many years attempting to replace the coins that were sold. This is why I consider myself more of a curator of the collection rather than its owner. Should a family member need some emergency money, they have it, no questions asked. This was something that I agreed to when it was handed over to me almost thirty years ago, and it is the same agreement that my son will have with the rest of the family when it's my time. The family coins are important, but the members are much more important.

 

though I'd like one or both (or however many the future has in store for me) of my kids to not just 'get' them, but have real interest in them, there is no guarantee. If I kick off before I make it there, I told my girlfriend to sell them here if she couldn't keep them for the kids for me.

 

If I had a reason to think that I would be passing on in the near future, the decision would be a tough one. I have neither children, nor too many people that I`m close to that would appreciate my collection. I would however like to see either someone appreciate them or just sell them outright if it would mean that they would pull themselves out of a hole.
I`m sure that God would put somebody in my life/path who would be able to use them before I passed on......there`s probably a few people on here who`d appreciate them.

 

I plan on living forever.


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Junior Numismatist, Alhambra Coin Center

www.lifeatthecoinshop.com
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you can give it to me now..lol
seriously I intend to give mine mto my daughter I will teach her the value

 

Due to tax issues, I will be doing both. Anything I do not have an invoice for will go to my son. I won't sell anything that I can not prove my cost basis. He will be able to sell that part of the collection without any tax issues.

 

Unless there's some unforeseen instance where the need to sell would be critical to keep me afloat, it'll go to the kids. One has the collecting bug, the other is still a little young to judge. I'd like to think that it'd keep on being passed down amongst the generations like Kirkuleez above, for the ones down the line to be able to hold a piece of their great-great-etc grandparents history.

 

There's a third option you never considered Tim,

donate it to the local YNA.

 

Me too.

Bruce

 

Yuuuuup!

 

As I am just starting out in my collecting lifestyle, I can say that I'm going to pass it on to my kids without much fear of them selling stuff because its all low-grade problem stuff that wouldnt bring much money at all. My collection at this point is for my enjoyment and when I get to the point of having kids and maybe passing it onto them, I hope they will enjoy it too. As far as I am concerned, if I pass it onto my kids and they sell it, I'm dead, what do I care? lol

 

Not much difference between the two options you present.

 

Coins are a hobby, not a trust fund. There is no guarantee that your collection will be worth squat when you hit your 60's. I would be pretty ashamed if all I had to leave my kids were remnants of a hobby I enjoyed. Or, have to move in with my kids because I spent all my money on coins that now have no value.