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When buying gold, silver think ahead


blindguy

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When you buy gold and silver think ahead to when and who will be selling the coins. Most of us know the agw of a coin but will we be there when it is sold? We don't live forever and will the person we leave our coins to know what they are selling? At my age I buy more gold and silver coins that have the fines  and the weight on the coin, such as 1/4 oz. .999 fine gold.  This will make it easier for my grandsons. And if you ever try to sell to the public at a show you would be amazed at some of the things you hear. One fellow told me at a local bank as we stood in line that his dad had passed away a few months ago and his dad left him these bags of dimes. Every time he needed cash he would take them to the bank and cash them in. I ask to see the dimes he had with him and they were all mercury dimes. I told him what he had and bought all he had for melt. Do you ever check the reject bins of coin counting machine? We have them in most food stores for the public to use and I check the reject bin every time I am there. My best find was a gold half sovereign.  I have seen and heard to many sad stories of people not knowing what they are selling. I will just say think ahead!!

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I think on this several years ago. Nobody In my family knows what exactly they must do after I die, and most usual will be to just sold my coins to some "Thief" and be totally robbed in the valour...lol

I manage to create a kind of a small Seller's guide, so they know what to do when that time arrive, and just in case they get rid of the coins.

I am not a expert, but at the least they will have some guidelines to follow, and a small list of Places/people where to sell!

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I have compiled "sellers guides" in the event of my death as well, how to best offload my precious metals and why you should'nt if you can help it, what my wristwatch collection is worth, how to get the most for my cars and how to log on to the crypto exchanges and convert my cryptos to precious metals keeping everything outside the system.

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We on the other hand have done none of this. 

With no kids, and no grandkids, our stack is 100% ours and a disposable income making up part of our retirement fund which will pay for our annual winter cruise between Hawaii and California. 

In the event of my death 1st my other half knows exactly how to buy and sell because we have a combined stack which we build up together - shared knowledge. 

In the event we both die together - our cruise ship sinks! - then it’s all in the will left to my brother and his family. What he does with it we wont care - we’ll be dead. 

💷 💷 Check out my Wanted adds and message me direct if you can help 💷 💷 

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36 minutes ago, KitboyE17 said:

We on the other hand have done none of this. 

With no kids, and no grandkids, our stack is 100% ours and a disposable income making up part of our retirement fund which will pay for our annual winter cruise between Hawaii and California. 

In the event of my death 1st my other half knows exactly how to buy and sell because we have a combined stack which we build up together - shared knowledge. 

In the event we both die together - our cruise ship sinks! - then it’s all in the will left to my brother and his family. What he does with it we wont care - we’ll be dead. 

I couldn’t agree more with you! Ian Fleming’s obelisk-topped grave bears the Latin inscription, Omnia perfunctus vitae praemia marces, which roughly translates as "Here you rot, having lived life to the hilt". Fleming certainly did that. Even Kings and Queens have to hand on their imperishable gold crowns to someone else.

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One man’s treasure is another man’s rubbish.

Not all treasure is silver and gold.

The desire of gold is not for gold. It is for the means of freedom and benefit.

Someone is sitting in the shade today because someone planted a tree a long time ago.

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i buy coins for myself. My children aren't interested in them but i am and their lack of interest isn't going to spoil mine.

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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I am a coin nut. I love collecting rare coins but lets face the facts that your love ones may not be to the level of collecting that you are. And yes they have the internet but sometimes they get overwhelmed with a large collection. Myself I have collected over 300 U.S. bust coins, some are the finest Overton or JR numbers out there' top pop's. I have left info on which auction house I want the kids to sell them at. About 8 years ago, before I lost my vision I got a call from a banker asking if I would help a person who inherited a coin collection. When we met he informed me it was large, boy was that a understatement. 30 plus tots (30 gallons each) It took me 9 days to go through the collection. I the sent in lots of coins to ngc for grading. In the meantime I call a few large coin dealers to make offers on the rest of the coins, the sister wanted her money NOW!! The owners said before I help them they were ready to just take all the coins to a small local shop and just take whatever they offered. There was some very nice coins in the group, two 1916 d Mercury dimes both graded in AU. There was also lots of junk, $900 plus of state quarters. The point is have a plan just incase and help out others if you can. I have never charge anyone for my help and I never will. I have believed in coin clubs and forums are a good place to get help. I haave rambled on long enough so have a great day. Jim

 

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