Inheritance - splitting up your collection in your will

[slightlyrounded]

Originally Posted by nebboy

IM 58 and have a boy with a driving permit. He says he likes my collection but I can tell he wants to make me happy. So we came up with the idea that because of my age I will probably not know my grandchildren as adults so I would like to give my 5 best to him for his kids with a note from me to them to pass along this cards from grandpa John to as many generations as possible. I will sell the rest of my collection for my kid to put a down payment on a house when he’s ready.

That’s a great idea John - both practical and generous.

[obcbobd]

Originally Posted by nebboy

IM 58 and have a boy with a driving permit. He says he likes my collection but I can tell he wants to make me happy. So we came up with the idea that because of my age I will probably not know my grandchildren as adults so I would like to give my 5 best to him for his kids with a note from me to them to pass along this cards from grandpa John to as many generations as possible. I will sell the rest of my collection for my kid to put a down payment on a house when he’s ready.

Best thing I've read on Net54 - Ever!

[Leon]

I probably need to advise my daughter, my only heir. My guess is she would give it to an auction house to sell. Who knows, maybe I will sell my collection again...in 20-30 yrs or something.


.

[LuckyLarry]

I’ve enjoyed reading through this topic. I collected cards as a kid but sold my childhood collection to my trading buddy Joey when I was in 7th grade back in 1967. Got enough cash to buy a solid meal at Fosters Freeze.

Fast forward to 1988 my oldest son (of four) brought home a pack of the newest Donruss baseball cards and I remembered how much fun collecting was, and started back up again. Pretty quickly switched to vintage (pre 1981) only, and bought my last new cards in 1992.

I’ve only spent money on cards with my extra “play” money. I don’t golf or fish or play poker or ride motorcycles, card collecting is my hobby. I still love it. Thankfully when I got divorced in 2003 my ex got her beanie babies and I kept my cards. Thirty-Three years later (as a set collector) I’ve got a hell of a lot of cards baseball hockey football basketball non-sports.

At 67 years old I’m in good health and plan on enjoying my collection for years to come. My collection is very well organized, but I’d like to go through all these 800 count boxes and make more careful notes on variation cards or “rarities” I possess. I’ve even thought about documenting this by starting a YouTube channel we will see.

I’ve been retired now 11 years, kids have been on their own for years. I’m comfortable, debt free, plenty of time to enjoy my hobby, and still have plenty of “play” money available for cards. Like I mentioned before, 33 years of collecting these worthless pieces of cardboard has produced a substantial collection that I never imagined would be valuable.

This year I finally sold a set of cards that didn’t really fit my collection (all cards were slabbed) they just took up to much room. I felt it would be good for me to sell something, and several months later I’m still glad I did. I didn’t need the money and the check? Went right in the bank.

My son who brought home the pack of 1988 Donruss cards (he turns 44 in a few days) has recently got back into collecting. He likes those shiny, sparkling, 1 of 1 cards that honestly I don’t even understand. Buying “retail” and “hobby” boxes, on card or sticker autos, patch cards, looking for prospects, instagram posts, GEM MINT, etc etc. I don’t have a clue lol. He’s even talked about going to the National!

Last time he was here he went through his collection of “junk wax” cards that still reside in my attic. We had a fun time going through that stuff! We didn’t spend much time looking at my cards, but lets just say he has a good idea that his old man has quite a collection.

Larry

[lumberjack]

About a week ago, Antiques Road Show did a follow up of non collectors who brought what proved to be high end items to be appraised. We are talking about half million to one million dollar pieces.

One of the program's experts said you would be surprised by the number of people who discover they own a one-of-a-kind heirloom and put it up for auction because they don't want to see their survivors fighting over it.

If you have a big collection, maybe things could be divided up evenly, but what if there is a Joe Jackson bat or that pesky T206 Wagner in the mix?
lumberjack