Discussion in 'Coin Chat' started by JustAnotherCoin, Sep 17, 2019.
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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.
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.
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!
Kidding . . . actually, I'm always selling my collection.
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.
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.
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.
Who says you’re living until age 70?
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.
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.
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.
So, to answer the OP's question, you were WELL over 70 when you sold everything in 2006.
Yeah, maybe your age would best be measured in isotopes.
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