One of the questions that we get asked routinely is “What should I do with my coins, and other collectibles when it comes to my estate?  Should I sell them, or leave them to my heirs? Can you help me decide my best course of action?”

We thought we would take this blog post to share 3 great reasons why selling your coins, as well as your other collectibles is a good option for many collectors.

Reason #1. Clueless Heirs

For the vast majority of collectors who leave both their coins as well as their other collectibles in their Will, the items will be inherited by many folks who know nothing and care nothing about the items.  If we are perfectly honest, most of these folks would probably prefer to have the money instead of the collection.

And because they are not emotionally attached to the coins or other items, chances are pretty good they will sell them.  We also know that for many of them, because of their lack of knowledge on these items, will be clueless when it comes to properly researching the collection prior to selling it.

The years you spent collecting, cataloguing, and classifying your collection will be for naught if left to the wrong people.

Reason #2. Overwhelmed Spouse


Some collectors will leave their collections to their spouses (usually this is a wife); because after all, the spouse has watched the other enjoy this hobby and may have in fact even purchased items for the collection as a gift.  Yet, for many of these spouses, they also would have no idea where to begin to figure out how to liquidate the collection.

Additionally for many spouses, they will already have a full plate of things to deal with when it comes to the death of a spouse and not having to deal with this would lighten the load.

Reason #3 Raiding Relatives


Or a worst case scenario would be that the collection was left to the estate and then somehow it “disappeared” before the rightful heirs received it.   One story we are familiar with is of a widow who requested an appraisal of her late husband’s gold coins that he had collected for year.  When she went to open the safe deposit box, to her utter shock, she found NO coin collection.  Another relative had access to the safe deposit box….there was no proof this relative stole the coins, but raiding relatives are a scenario you want to plan for.

Reason #4 The Taxman Cometh


The last reason to consider selling your collection rather than leaving it in the Will has to do with Uncle Sam.  If you sell your collection and have a “gain”, then you will be responsible for any capital gains taxes.  If you leave your coins as part of your estate, then if your heirs choose to sell the collection (and as mentioned above, unless you are leaving your collection to another collector who shares your passion, chances are very good that the collection will be sold) then your heirs will be responsible for this tax, giving them a much smaller profit than if you sold the collection.


In conclusion…..

Our advice when it comes to your collection, especially if there is no one that you can think of who would keep and continue on with the collection, or who would be diligent enough to do the proper research to be able to sell the collection for its full value, would be to sell your collection yourself.

Then you can decide if you want to enjoy the money yourself, or leave it to your heirs as part of the estate.

After all, who has been to coin/collectible shows, auctions, antique or coin stores and knows how to realize the best prices for the collection?

You do!   You are by far the best person to insure that your collection will receive the top dollar, when sold through the proper channels.  And when it comes to sentiment, there is nothing wrong with leaving some coins as mementos to certain family members.  Some folks will simply want a coin to keep as a treasure of your legacy, as well as something to remember you by.

If you have decided that it is time to sell your coin collection, or are simply looking for an appraisal, we would be honored to assist you with the project. For more information on having PGS Gold & Coin appraise or buy your coins, visit our web site at or give us a call at 847-348-6447.

PGS Gold & Coin’s mission is to provide our customers with “Fair Market Value” in exchange for any unwanted Rare Coins, Platinum, Gold, Silver, Diamond, Jewelry and Collectables! We strive to deliver the highest quality of customer service each and every day. PGS Gold & Coin is locally owned & family operated since 2008. PGS has become one of the most professional and trusted Rare Coin, and Precious Metals Dealers in the area. We are a Certified Coin Dealer by PCGS (Professional Coin Grading Service), NGC (Numismatic Guaranty Corporation), and PMG (Paper Money Grading). We are a proud sponsor of the ANA (American Numismatic Association) and have a BBB (Better Business Bureau) A+ rating.

What Should I Do With My Coins/Collectibles for Estates, What Should I Do With My Coins/Collectibles For Estates
What Should I Do With My Coins/Collectibles for Estates, What Should I Do With My Coins/Collectibles For Estates
What Should I Do With My Coins/Collectibles for Estates, What Should I Do With My Coins/Collectibles For Estates
Main Office: 830 W. Northwest Highway, Suite 7, Palatine, Illinois 60067, USA •  Tel: (847) 348-6447  •  Email: [email protected]

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