What Are Your Instructions, Hopes, Worth Nightmare For Your Collection After Your Demise?

Some ideas that have gone through my mind over the years:

Leave it to my "responsible" adult children or grandchildren.
Goes to an estate sell, ending up in one of your collections.
Legal instruction in a Will or Trust.
Distribute it to my "responsible" adult children or grandchildren before my demise.
Liquidate the lot before my demise.
My widow's new husband's drug addicted kids getting their hands on it.

 

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This is a frequent topic of discussion, but is important.

There is nobody in my family who is interested in collecting coins, and my collection represents a somewhat large sum of money. I have left instructions with my family to contact a reputable numismatist (and left them the contact info), and he would help them auction it off. I also told this numismatist that my family would contact them in the case of my demise.

 

I buy a lot of estates where 90% of the time the family wants nothing to do with the coins...they just want the cash. So that's the way I'm set up. I am not going to force my hobby on my family. I'd much rather them use the money for their own interests. If there is a coin they really like while I'm alive, I'll note it and keep it out...the rest will magically be turned into cash.

 

My wife knows who to go to if she wants to convert my coins to cash.

 

I have mixed feelings about this, but being under 30 with a baby on the way, I'm hoping to not have to worry about this for a long time. The bottom line is even while I'm alive, if my family needs money for some crazy emergency, my collection is the first thing we will dispose of.

 

None when I'm gone, I'm gone. It's really not going to concern me anymore at that point unless I guess I decide to haunt my collection for the hereafter. I hope that I instill and inspire enough interest and love of the hobby in my children that they keep some coins for themselves out of my collection. If it was my wife I'm sure she'd keep a few things and leave the rest for the children but.

Even when left to those who might appreciate it though, life happens and things may come up that necessitate the sale of parts of the collection. If selling it can help them out by doing so than that's what I wish. I'm sure the coins will eventually or hopefully end up in another collection where they're cherished once again even if it's not within my own or the one my descendants decide to keep.

 

My wife knows what to do if I go to my reward. If I outlive her, I will dispose of the collection before my time comes (hopefully). Daughter, who is not into coins, will have instructions on how to sell it.

My hope is that my coins will be eventually with another collector who will enjoy them.

 

My theory is that, once I'm dead, it's not really for me to dictate. If I leave coins to family or friends, I won't tell them what to do with them. If I start getting up in age and it's becoming a concern, or if I've really built up a meaningful or valuable collection, I may just donate it or sell it myself.

 

I just cannot see my kids taking a low low ball price on the coins i have came to accumulate just because they want cash immediately. My plan is to hopefully sell them before I fall over dead and leave the money in place of them, unless one of my kids veer towards collecting. I suppose if I die without warning then I would want them to cherrypick what they want and cash in on dads coin hoard

 

I want my collection to go to my son and I want him to preserve it and teach his kids about it and hopefully the collecting bug catches on. I hope my son gets into it...we're working on it

Oh...Since I started collecting ancients I've kept very detailed records. I think that's important.

 

I'm working on a plan to take my coins with me to the place beyond.

 

I have a note in my sdb that says "in the event of my demise go to www.HA.com for liquidation" which my father has access too. I also have prices paid written down or stickered on slabs. And all coins I have paid over 1k for at heritage (only a few) have a coupon for 0% consignment fees by heirs. The minutia crap, I don't care what they do with that

 

I'm lucky. My son grew up in the hobby and understands it well. We have had many talks on this subject but he will never need the money. At age 23, he is set for life all on his own. It's his choice on what happens with my collection.

Something to keep in mind. Your library. Be sure your family understands the value that it holds. Many forget to pass this information on.

 

I have gone over coins with my youngest son and made a list of current values.He also knows to refer to the current Red Book for values.
Hopefully he will keep my 40+ years collection and pass it on to his children.

 

G

Good one!

 

I want to go to your funeral. I'll be there the next night digging them up.

 

I'm still in my twenties, so hopefully dispersal of my collection is a long ways off. I'd probably attempt to liquidate as much as I could before passing on as to maximize value and not burden heirs. Heritage or similar auction house for the better items.

 

Doesn't matter a bit to me what they do with it. Keep it, sell it for full value, sell it for 10 cents on the dollar, melt it down to make silver ashtrays...by then, I'll be beyond caring.

 

I kinda feel the same way. Just don't want to leave the family with a bunch burdensome crap to deal with after I'm gone. If I drop dead 5 minutes from now everything is done, just put me in the ground. When my parents died, I had to much crap to deal with. I don't want to leave the nonsense to my kids, coin or whatever.

 

Being a forth generation collector, I'd love for my son to keep the collection intact and continue adding to the collection, but I really just hope for the following.
1. Store the collection properly
2. Don't cash in to buy video games
3. Sell some of you or any other family member is in a pinch