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What happens to your coins if something happens to you?

I get three calls everyday that go like this:

"My (grand)father/husband/uncle passed away leaving us a box of coins.  Can you tell me what they are worth?"
"Sure, tell me about them." I reply.
"Well, they are silver and gold, but that is all I know."

Is this person in a position to not get ripped off?  No!  They know nothing about coins and have to rely solely on the person with whom they are interacting.

Would you prefer they take them to a reputable coin dealer or a pawn shop?
If they take them to a pawn shop and get offered $1000 for a $10,000 collection, will they take it?  THEY SURE WILL, and they will probably be very happy with $1000 cash.

If, God forbid, something happens to you, what will your family do with your coins? 

  • Will they divide them amongst each other, fighting the whole time?  This happens more than you want to think about.
  • Will they take them to a coin dealer?
  • What if they take them to a less than reputable dealer?

Now is the time for you to set them up for success.  Sort and inventory your coins.  Get an appraisal.  Store the coins WITH the appraisal in a safe spot.  Make sure your family knows where they are and how to get them (safe combo or security deposit box key location).  Place your favorite dealer’s business card with the collection so that your family deals with the dealer you trust.  Discuss this with your family so they understand.

Call us for that appraisal.

You should have an inventory and appraisal stored with your coins.  Include a copy of our article "how to sell your coins without being taken for a ride" to set them up for success when you are not around to protect them.

In the mean time:

  1. Are your coins protected?
  2. Are they locked up?
  3. Are they on your home owners insurance?  It is very cheap.
  4. Do you get coin publications at your home?  If so, get a PO Box and stop them from your home address.
  5. Does your family know how to find/access your coins if you were to get hit by a drunk driver and die? safe combo or safety deposit box key
  6. I do not keep any coins at my home, so I am not worried about them getting stolen during a break in.  However, bad guys do not know that information.  So I have an incredible alarm system an several strategically placed guns in my home.  Along with a mean dog and a meaner wife! hehe 

I suggest you dedicate 15 minutes to thinking about this subject.  Then make a list of everything you need to do.  Contact us to assist.

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