When To Sell Your Collection? Before Or After Age 70 ?

Discussion in 'Coin Chat' started by JustAnotherCoin, Sep 17, 2019.

  1. JustAnotherCoin

    JustAnotherCoin New Member

    When should you sell off your collection, before or after age 70?
     
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  3. Inspector43

    Inspector43 70 Year Collector

    Welcome to CT
    I am 70+ and am sorting my collection and sharing some of it between 6 kids, 13 grand kids and 19 great grand kids. I have been collecting since 1948. I could never sell it for what I think it is worth.
     
  4. Islander80-83

    Islander80-83 Well-Known Member

    You should be more specific. Why are you using 70 as a benchmark? Why not, before age 54? Why not, after age 83 1/2? Why not, before you die? Why sell your collection at all? Why not, donate your collection? Do you have heirs that want or are even interested in your collection? Some may be forced to sell their collections before 70. Many of our situations are different. I personally have no plans to sell.
     
    tommyc03 and Inspector43 like this.
  5. Collecting Nut

    Collecting Nut Borderline Hoarder

    I'm creeping up on that number and I'm still buying. Why would I want to sell just because I turned 70?
     
  6. okbustchaser

    okbustchaser Just plain busted

    What is this "sell" thing that you mention?
     
  7. Wizank

    Wizank Member

    I just started my collection at the age of 70...
     
  8. physics-fan3.14

    physics-fan3.14 You got any more of them.... prooflikes?

    Nobody can say. If you have the money and life expectancy and enjoy collecting, why sell everything at 70? That's as arbitrary as saying I should sell when I turn 40. Just no reason to, unless you want to.

    I plan on keeping my collection until I die, and leaving instructions with my heirs as to how to dispose of it. Because I really like my collection, and selling it might just kill me!
     
  9. ToughCOINS

    ToughCOINS Dealer Member Moderator

    Sell my collection? . . . HERESY!

    Kidding . . . actually, I'm always selling my collection.
     
    Paul M. and Inspector43 like this.
  10. Yorkshire

    Yorkshire Well-Known Member

    well I have 46 years till then, don't think I'd sell would rather pass them down
     
    Inspector43 likes this.
  11. -jeffB

    -jeffB Greshams LEO Supporter

    Your 70 may be very different from my 70, in many, many ways.

    If my kids choose to reproduce, and wait as long as I did, my grandkids won't even have arrived yet. It's not at all clear that I'll have retired by then. For that matter, there's no guarantee I'll even be around; I'm doing all I can to improve my odds health-wise, but bad things can happen.

    So, ask me in another decade or two. ;)
     
  12. YoloBagels

    YoloBagels Well-Known Member

    How about I hide it and let it become one of those giant coin hoards like you see in the news? I still have 53 years to accumulate till I turn 70.
     
  13. ewomack

    ewomack Senior Member Supporter

    If you're already 70 and haven't sold your collection then the time to sell before 70 has definitely passed. That leaves one option.

    Everyone will have their own situations and reasons for selling, not selling and at what particular time. There are no rules around this sort of thing and one person's experience will likely not apply fully to someone else's.

    I made a decision some years ago to sell all of the Star Wars toys I had accumulated as a child. Of course my parents really paid for most of them. It was somewhere between the release of the 1st and 3rd "prequels" when hype seemed fierce over the series in general. My timing seemed good because everything I put on Ebay ended in violent bidding wars. Even pieces of cardboard went for 4 times my asking price. I couldn't believe it. Did I make the right decision? In hindsight it sure seems so, but who knows if the toys will see another resurgence? The point is that one may think they have picked a good time, but who knows if a yet better time will occur? You can spend your entire life waiting for such "perfect" moments. They rarely come. And if they did, you probably wouldn't know it until years later.
     
  14. PlanoSteve

    PlanoSteve Well-Known Member

    Well, the "Official" & accepted window of opportunity is between 30 min. prior to you turning 70, until 2 hours after you turn 70. And you have the option to either start that period from midnight the day you turn 70, or if you know your exact time of birth, you can use that as a basis for the 30min/2hr period. Otherwise, you're not allowed to call it "selling off".


    See explanation above.
     
  15. Santinidollar

    Santinidollar Supporter! Supporter

    Who says you’re living until age 70?
     
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  16. Player11

    Player11 Bullish

    At shows I setup at there are many dealers in 70’s and 80’s.

    Retired from accounting, financial I will be doing coins until I die or incapable of walking into the bourse room. My coin business (active since 1990) provides me fun and extra income.

    To answer op - Unless your in the business sell it all now especially the numismatic coins and spend the money on things you enjoy. The market for numismatic coins has been flat or southward for sometime. You may want keep some bullion material if you feel upside there.
     
    Last edited: Sep 17, 2019
    Inspector43 likes this.
  17. dwhiz

    dwhiz Collector Supporter

    I'm 75 and have started to sell off some items.
    I'm also deciding what item to give my children and grand children.
    I'm still buying, mostly to upgrade, but also to keep some sets up to date.
     
    Inspector43 likes this.
  18. GDJMSP

    GDJMSP Numismatist Moderator

    I'm probably the only one around here who can say this, I've sold 2 collections. My US coin collection which took about 40 years to assemble, and my world coin collection. In fact I don't even collect coins anymore and haven't since 2006. Most members of the forum already know this, but you being a recent member probably don't.

    But just like most others who have responded in this thread has said - my age had nothing to do with it. I sold my collection because I realized I no longer wanted to collect coins ! I finally realized that collecting them was not the thing about the hobby that I really loved - it was the study of coins that I really loved. And I don't need to own coins to do that.

    So, the answer to your question is sell when you feel it is time to do so. The reason you feel that way doesn't matter, the only thing that does matter is that you do feel that way.
     
  19. CoinCorgi

    CoinCorgi Derp, derp, derp!

    So, to answer the OP's question, you were WELL over 70 when you sold everything in 2006.
     
    Sunflower_Coins likes this.
  20. GDJMSP

    GDJMSP Numismatist Moderator

    Hmmm - don't think they got a number big enough to say how old I was :p
     
    Inspector43 likes this.
  21. CoinCorgi

    CoinCorgi Derp, derp, derp!

    Yeah, maybe your age would best be measured in isotopes.
     
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