Going through a person’s possessions after he or she passes away can be a brutal task.
We help people in the Evanston – Skokie area liquidate estates. You’d be surprised how often someone who moved away from the Chicago area years ago gets pulled back to deal with selling massive amounts of stuff after someone in the family passes away. If you’re in this situation, make sure you visit us. We buy coins, all forms of silver and gold collectibles, and more. But because we’re buying and selling all the time, we have contact with most everyone in the Evanston – Chicago area who will buy pretty much anything. We can save you a lot of time, and you will probably end up with more money. Let us help you get back to your normal life.
We buy and sell coins, paper money, estate jewelry, platinum, stamps, diamonds, all forms of gold / silver, and more. We accept walk-ins and appointments
When a loved one passes away and leaves behind a coin collection, it can be challenging to know how to divide the collection fairly among heirs. Coin collections are often a treasured family possession that holds both sentimental and monetary value, so it’s important to handle the division process with care and consideration. Here are some tips on how to split up a coin collection after death.
- Determine the Value of the Coin Collection Before dividing the coin collection. Talk to professional coin dealer (like Oakton Coins) to determine the value of the collection. This step will ensure that the division process is fair and equitable.
- Communicate with All Heirs It’s essential to communicate with all heirs before dividing the coin collection. Everyone should have a say in the division process, and open communication can help to avoid misunderstandings or hurt feelings. It’s important to be respectful and understanding of each person’s emotional connection to the collection and their financial needs.
- Decide on a Division Method There are several methods to divide a coin collection, including equal division, or sale. Equal division means dividing the collection equally among heirs, while auction or sale means selling the entire collection and dividing the proceeds. You can also consider a combination of these methods, such as dividing some coins equally and selling others at auction. It’s important to choose a method that works for everyone involved and respects the wishes of the deceased.
- Document the Division Process Once the division process is complete, it’s important to document it thoroughly. This documentation should include an inventory of the coins, their value, and the division method used. It’s also a good idea to have all heirs sign off on the division process to avoid future disputes or misunderstandings.
In conclusion, dividing a coin collection after death can be a difficult and emotional process. However, by following these tips and approaching the process with care and consideration, you can ensure that the division process is fair, equitable, and respectful to the wishes of the deceased.