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Post by irishjack on Jan 1, 2015 19:38:31 GMT
After reading a few recent threads the thought occurred to me, what will happen to my collection when I keel over? As for the forum it will carry on with a new admin who will take over the reins so for TSF I have no worry's about. But my stamps what will happen to them, will they end up in a box and passed to another collector. end up in a garage sell, sit in a damp basement. I don't have a very expensive collection, if sold smartly it would get a nice little sum, enough for a used car or a vacation or a collage tuition for a kid.
I had a chat with the wife about it, always a fun conversation talking about your death. So what I will be doing is scanning each page and writing down a dollar amount that would be realistic not a over inflated CV. Slip the pages into a document protector and have a binder just for the scans of each album.
I still young and will add to my collection so it will grow in size and in value. I currently don't care about the value of the collection, but would like to see some good come of the collection when I am pushing up daisy's. I do have life insurance so she will be ok finically. But do I want her to have the burden of my collection, she knows my love for stamps is only second to her, so she may have trouble disposing of it and hang onto it as a keepsake.
I said that if she logged onto TSF and asked for help she would get plenty of help, I did mention to her to be careful of the Frog guy and the smooth talking dapper Rod from down under 
So lets share Ideals, many of us are in limbo so any ideals will be a help.
One thing I do strongly suggest is that you have your username and password to this forum written down, maybe on a sheet with instructions of what to do with your stamps, this way your loved ones will be able to ask for advice. |
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Post by tonyvella on Jan 1, 2015 20:09:13 GMT
Well irishjack, I figure (as I explained elsewhere) that by the time I fall off my perch all I have left will be two binders: Argentine Ministerial Officials, and Portugal and Colonies Ceres. My wife knows nothing about stamps except that they cost money to buy. We are already in our 70s so what happens to two three-ring binders would be the least of my wife's worries. Probably I shall ask my wife to send them to CHEO (Children's Hospital of Eastern Ontario) so the cancer kids can have some fun playing with "pretty little pieces of paper". Very difficult questions sometimes come with very easy answers; isn't that what Cicero advised his son?
What will I do with some 500 paintings my wife painted over a lifetime? Shall I call the Ottawa School of Art and let them decide what should go to a museum and what should go to the dump? I don't know irishjack.
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tomiseksj
Moderator 
Woodbridge, Virginia, USA
Posts: 6,385 
What I collect: Worldwide stamps/covers, Cinderellas, Ohio Prepaid Sales Tax Receipts, U.S. WWII Ration ephemera
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Post by tomiseksj on Jan 1, 2015 20:32:33 GMT
I'd love for one of my children to take up the collection (which is now a combination of my father's and mine) but that doesn't appear likely at this point. Perhaps I'll suggest that, should neither of them want to either collect or attempt to liquidate, that they donate the material to APS and apply the charitable deduction to my final tax return.
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Post by stampgeezer on Jan 1, 2015 21:34:15 GMT
That is always a tough question. I think it would be very hard for me to dispose of them, by selling them somehow. Personally, I found selling on Ebay a pain, and that was 10 years ago, and I know it is much more difficult now. I am thinking of having my collection appraised and then donated to a charity, after I kick the bucket. In that way, my wife could get a nice tax deduction. Of course, that presumes she outlives me. The more I think on that, the more I like it, since I won't have to deal with disposing of them personally.  regards, (and hopefully living for a long time yet) Theron. |
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Post by ChickasawStampMan on Jan 1, 2015 22:04:31 GMT
Here is my thought. In my younger years I used to party a lot. I would spend over $150 a night and guess where it would end up...in the toilet. (Either way). So now with my collection I look at purchasing stamps as buying a drink and letting the results happen. I told my son not to worry about it. Just pick out the stamps he likes and give the rest away. I already "urinated" the rest of the stamps down the drain... Stamps are like a live performance, you pay out the nose for good seats and when It is over what do you have .... memories and they are no worth much except to you.
(I apologize to anyone I offended anyone with my language...)
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firstfrog2013
Member 
Posts: 3,276
What I collect: BNA Liberia St Pierre U.S. Bolivia Turkey
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Post by firstfrog2013 on Jan 2, 2015 1:12:22 GMT
Actually I had this discussion with Jack awhile ago.My wife and I own property even though we rent here we still own a 3600sq ft farm house from 1820 north of here.It is currently a rental that will be for her.My tools are my son's maybe he'll finally settle down.My guitars will be split between them all the girls already decided which is the one they want the leftovers go to wifey.My stamps I have not decided who gets them but already have notarized statement they cannot be sold for twenty years after my passing.I have also left Jack's contact info as an advice guru for my heirs. My youngest is getting all my christmas collection over four hundred stuffed xmas animals and about fourteen large totes of xmas village pieces this because while a pain for her I know being Dad's stuff she will never let it go and care for it all.The twenty year clause means someone will have to care for my stuff and just maybe do some research to find out what it is they have.It will help that I am putting catalog numbers by them all.I am showing my collection here and anyone with some knowledge of BNA will easily see I have amassed some value I started on Canadian stuff to get away from U.S. but have come to realize one day the untapped resources in the northern neighbors land will probably turn the exchange rate around at some point.When and if that happens ..well that's for others to figure out but I know this collection will be golden.
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codeye
Member
Inactive
Posts: 75
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Post by codeye on Jan 2, 2015 8:24:35 GMT
I turn 50 this year so not really thought about it, 18 x 64 page stock books plus other stock books all on a 7 foot high book shelf, items still to be sorted in shoe boxes and packets. It doesnt bear thinking about and I'm sure my girlfriend would dread to shift it all, its not something we have discussed and probably won't for another 10 yrs I guess.
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Post by ChrisW on Jan 2, 2015 13:15:01 GMT
I am thinking of having my collection appraised and then donated to a charity, after I kick the bucket. In that way, my wife could get a nice tax deduction. Of course, that presumes she outlives me. The more I think on that, the more I like it, since I won't have to deal with disposing of them personally. I agree with stampgeezer. This sounds like the best way unless you have a really high-value collection. |
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Admin
Administrator 
Posts: 2,676
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Post by Admin on Jan 2, 2015 18:42:33 GMT
Actually I had this discussion with Jack awhile ago.My wife and I own property even though we rent here we still own a 3600sq ft farm house from 1820 north of here.It is currently a rental that will be for her.My tools are my son's maybe he'll finally settle down.My guitars will be split between them all the girls already decided which is the one they want the leftovers go to wifey.My stamps I have not decided who gets them but already have notarized statement they cannot be sold for twenty years after my passing.I have also left Jack's contact info as an advice guru for my heirs. My youngest is getting all my christmas collection over four hundred stuffed xmas animals and about fourteen large totes of xmas village pieces this because while a pain for her I know being Dad's stuff she will never let it go and care for it all.The twenty year clause means someone will have to care for my stuff and just maybe do some research to find out what it is they have.It will help that I am putting catalog numbers by them all.I am showing my collection here and anyone with some knowledge of BNA will easily see I have amassed some value I started on Canadian stuff to get away from U.S. but have come to realize one day the untapped resources in the northern neighbors land will probably turn the exchange rate around at some point.When and if that happens ..well that's for others to figure out but I know this collection will be golden. I hope that's a long way away, I having a panic attack thinking of walking into Frogs stamp room. First thing first will be pulling that junk box under the desk and look for treasure, You have done a fine job putting stamps in albums so that be a walk in the park. Your heirs will need to know I come with helpers, Probably Kirby number?? Make sure that they keep a few cold drinks in the fridge and a couple of rib-eyes for my helper |
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AirmailEd
Member
Inactive
Posts: 174
What I collect: Worldwide airmail stamps through 1940, unused
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Post by AirmailEd on Jan 2, 2015 19:15:17 GMT
This is an important topic. How many times have we seen posts along the line of: "I inherited daddy's collection. Is it worth much? How can I sell it?" These posts make me wonder what the deceased collector was thinking. Some preparation and written instructions would have been easy and very helpful. Very few collections are worthless. But heirs who know nothing about stamps can destroy a good collection in a short while.
I'm 70, and have been collecting seriously for 20 years. I've spent a fair amount on my collection, and I want my heirs to get as much as possible for it. None of them are interested in collecting stamps.
I've left detailed instructions to consign my collection to an auction house, with a list of three auctions to approach. The collection is online, so the auction houses can easily see what's there. There's also a database in Excel. The Web site and database are updated as items are added.
There is a learning curve associated with building a Web site. People who have no computer knowledge probably will want to avoid that. But there are people on this board who obviously have the background to pick it up.
Also, collectors can turn to the American Philatelic Society for estate planning. Or, a collection could be donated to the APS. Even a collection of the most common stamps has value. The APS can dispose of those stamps through its youth program. And don't tell me that you're not an APS member. It only costs $48 to join. How much are you spending on an estate attorney?
Stampgeezer's idea of donating to a charity might well work. But be sure the charity wants your collection. Otherwise, it could be thrown away, or sold for next to nothing.
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tomiseksj
Moderator
Woodbridge, Virginia, USA
Posts: 6,385
What I collect: Worldwide stamps/covers, Cinderellas, Ohio Prepaid Sales Tax Receipts, U.S. WWII Ration ephemera
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Post by tomiseksj on Jan 2, 2015 21:32:15 GMT
For the record, contributions to both APS and APRL are deductible (for U.S. taxpayers) under section 170 of the Internal Revenue Code and both are also eligible to receive tax deductible bequests, devises, transfers or gifts. Their respective nonprofit determination letters are available at APS and APRL. |
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philatelia
Member
Captain Jack - my best kiloware find ever!
Posts: 3,655
What I collect: Ireland, Japan, Scandy, USA, Venezuela, Vatican, Bermuda, Austria
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Post by philatelia on Jan 2, 2015 23:34:17 GMT
I'm busy right now downsizing my collection to a manageable size that will make it easier for my niece to deal with. I am leaving her instructions to consign to an auction also. But I like the donation idea, too! Hmmm maybe I'll tag part of the collection for donation. Great idea!
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Post by Perfs14 on Jan 2, 2015 23:36:34 GMT
My plan is to sell all the useless stuff and retain only the few examples that are presently worth something, and those will go to my grandsons...and here is the BIG BUT - I know that the plan is logical but it's hard to make myself sell anything at all - maybe a better plan (which i have just thought of as i write this!) is to partition off the better stuff so that those that follow me will know what to sell/keep and what to give away.  |
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Post by canadianphilatelist on Jan 2, 2015 23:48:16 GMT
After reading a few recent threads the thought occurred to me, what will happen to my collection when I keel over? As for the forum it will carry on with a new admin who will take over the reins so for TSF I have no worry's about. But my stamps what will happen to them, will they end up in a box and passed to another collector. end up in a garage sell, sit in a damp basement. I don't have a very expensive collection, if sold smartly it would get a nice little sum, enough for a used car or a vacation or a collage tuition for a kid.
I had a chat with the wife about it, always a fun conversation talking about your death. So what I will be doing is scanning each page and writing down a dollar amount that would be realistic not a over inflated CV. Slip the pages into a document protector and have a binder just for the scans of each album. I actually like your idea of scanning the page and then putting down an estimated value. Genius! But that's going to be a lot of work  |
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Londonbus1
Moderator
Cinderella Stamp Club Member 3059
Posts: 5,064
What I collect: Wonderland; 1912 Jubilee International Stamp Exhibition, London ('Ideal' Stamp, ephemera); French Cinderellas with an emphasis on Poster Stamps; Israel and Palestine Cinderellas ; Jewish National Fund Stamps, Labels and Tags; London 2010, A Festival of Stamps (anything); South Africa 1937 Coronation issue of KGVI, singles or bi-lingual pairs.
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Post by Londonbus1 on Jan 5, 2015 21:15:39 GMT
My collection is not worth much in monetary terms but to me it's worth much more. But I have had bucket loads of enjoyment out of it and enjoyment is not cheap.
Unless I can get one of the Grandkids interested then it will be disposed of by one of the folk on a list I have in one of the albums.
But in truth, I am not that bothered.
As the topic is about death, I will add that if my death is not sudden and I have time to dispose of it myself, I will. |
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reena
Member
Posts: 352 
What I collect: US Federal Duck Stamps
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Post by reena on Jan 10, 2015 9:29:12 GMT
This is a subject near and dear to my heart and life as we know it.
I was one of those that inherited a collection. My sister was diagnosed with Stage 4 Pancreatic Cancer. She has been collecting for over 50 years and her stamps were her secret pride. Dianne and Paul went on a last cruise to the Panama Canal and while she was gone I thought long and hard about the offer to continue her legacy. Paul was just going to have a big bonfire. I just couldn't let that happen. So I made the offer and here I am. I leaned on a lot of people to help me learn very quickly about stamps and I'm so thankful to each and every one of them. In her last months of living, she didn't want to teach me about stamping. She just wanted to concentrate on other things. It was not an easy time for either one of us.
The reason I'm telling my very shortened story is to let all of you know, if you have a young one that is remotely interested in stamps, take them under your wing now and teach them all you know. Let's face it, we will never sell our entire collection in our days on Earth. What in the world would we do then? Start another one! I do like the idea of cataloging everything we have. This way either APS or whatever auction house who might get the albums will have an easier time.
We just never know what tomorrow will bring. I'm hoping that my great nieces or nephew will be interested in stamping, but that doesn't look promising at this point in their young lives. Too much playing to be done.
As for me? Don't know at this point, I'm still going through all the boxes and discovering what was collected!
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Post by irishjack on Mar 2, 2015 22:03:37 GMT
My collection wont be worth that much to really worry about. But its all the hours of fun I had with it that's the value I put on it. I like my wife to have a easy job of selling it. I have started to arrange my collection in stock pages with a detailed description of the stamp, which will help her. Here is an example of what I am doing. 
I include some reference from where I obtained the information to help ID the stamp. This is printed on acid free paper and inserted into a four strip stock page. It also helps me to move around the collection. On the back of the card I have written the current CV and a minimum of what she should sell it for. I also keep a thumb drive with my images the file is also written on the back of the card, this will make life easy if she sells on eBay. She is well versed on selling on eBay and having the collection ready for sale will be helpful.
I may decide to sell off the collection in later years and this pre organizing will help me out. I might take up skydiving in my retirement |
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zipper
Member
Posts: 2,649
What I collect: Classic GB, QV, France Ceres/Napoleon, Classic U.S., Cinderella & Poster Stamps
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Post by zipper on Mar 7, 2015 13:36:27 GMT
I don't care what happens to any of my stuff. I imagine the building manager and the maintenance staff will take what they want and toss the rest.
In absolute reality, we don't OWN anything; we're renting. What we consider OURS, is just something we're using until the next guy takes possession. Therefore, it's not really mine, even now.
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KirkS
Member
Often wrong, but never in doubt :-)
Posts: 187
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Post by KirkS on Apr 22, 2015 23:16:27 GMT
You'll have a chance to think about it soon. Today I received from Mystic, a two-page letter, one-page survey, and a return envelope all dealing with my collection, how I acquired it, how I plan to dispose of it, etc.
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ratio411
Member
Inactive
Pensacola, Florida
Posts: 102
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Post by ratio411 on May 12, 2015 0:50:15 GMT
I am dealing with this right now.
I spoke with the family about what they'd do with EVERYTHING, and that's a LOT, when I'm gone.
When it came to the stamps, I just got blank stares, and then the wife blurted out that she
planned to put them in a storage unit. She is going to downsize... big house, no kids, and
with no husband, I don't blame her.
The stamps were left to me by my father nearly 10 years ago. I didn't know anything about them,
and I was supposed to liquidate them right away. It never happened, and I ended up becoming a
pseudo-stamp collector, along with all my other hobbies/interests/business. I have grown the
collection, instead of liquidated. I would love to keep it till the day I die, but it seems now
that the prospect is WAY too dangerous to the stamps. I can pretty much see them ending up in
a land-fill if I keep them! No joke. We all know what will happen to them in a storage unit.
Then when the wife just gives up and stops paying for the unit, they'll end up in the trash.
I don't blame her. My father left me saddled with SO MUCH 'stuff', and much of it is still
around, adding to my 'stuff', and a warehouse full of construction 'stuff' that will have to
be liquidated. I was overwhelmed with the stamp collection alone, not to mention all the other
crap. My father was a borderline hoarder, and had many "collections" that we are still dealing
with. I am not much better. So, that is why the family wouldn't know what to do with the stamps,
they'll be dealing with much, much more.
So.... I am trying to figure out now how to get this monster collection/accumulation liquidated.
I have to get serious about it, as much as I'd love to keep the stuff.
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ratio411
Member
Inactive
Pensacola, Florida
Posts: 102
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Post by ratio411 on May 12, 2015 0:59:05 GMT
You'll have a chance to think about it soon. Today I received from Mystic, a two-page letter, one-page survey, and a return envelope all dealing with my collection, how I acquired it, how I plan to dispose of it, etc. I wish those crooks would send me something like that.
My father spent $11,000 with them in a short period just before he passed!
(All in, since Dad was a kid, his money spent all his life, then the little bit I added, this collection has about $14k spent on it... The $3k Mystic didn't get, is more than double that content!)
I could sell this whole collection off one stamp at a time (if I had a couple lifetimes to do it), and would only get pennies on the dollar due to Mystic's portion.
Right now, the people that have been trying to buy my Dad's stuff are either offering super-low-ball, or they are pretending to be interested in everything, then when it's time to pony up, they just want to grab the rarities and run. Ain't happening.
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ratio411
Member
Inactive
Pensacola, Florida
Posts: 102
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Post by ratio411 on May 12, 2015 1:17:26 GMT
I like the ideas here about cataloging, databases, spreadsheets, etc...
However, what I have is so huge, and I have a life otherwise, that this is NOT going to happen.
If I live a very long and happy life, I don't think I'll have enough days to even ID all my stamps, much less catalog or database. I don't think words convey here how BIG this thing is. Yeah, it is diverse, and there is a large portion that is worth cents, not dollars, but when you have 10s of thousands, maybe even 100s of thousands, cents add up. Not to mention what will bring dollars.
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Post by katie333 on Jun 11, 2015 1:02:49 GMT
This is an interesting discussion ... though I'm only 40 we have no kids and we are already planning for our hopefully early retirement. I hope to get a lot more joy and time with my stamps after I retire. With that said, I'll be older so who knows how much time that will be? I like the idea of itemizing instructions for an auction house to take everything to, will likely do better than a garage sale or something worse! Our estate will likely go to my nephew and I doubt he'll be interested in the collection but you never know. Certainly he'd be happy getting a decent amount of cash for everything. |
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Post by hs2oca on Jun 12, 2015 23:01:53 GMT
I've had this discussion on other boards. I like the auction idea, but my understanding is auction houses really aren't interested in any collection worth under $3000, and I bet mine isn't even worth that. Though I hope it will be by the time I die!
I do know neither Hubby nor the two girls are interested in my collection, so the best thing to do is to liquidate it on my demise.
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rod222
Member
Posts: 11,047
What I collect: Worldwide Stamps, Ephemera and Catalogues
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Post by rod222 on Jun 12, 2015 23:23:31 GMT
I've had this discussion on other boards. I like the auction idea, but my understanding is auction houses really aren't interested in any collection worth under $3000, and I bet mine isn't even worth that. Though I hope it will be by the time I die! I do know neither Hubby nor the two girls are interested in my collection, so the best thing to do is to liquidate it on my demise. Consider. The value may lie only with the desirability of someone else to have what you have. Your stamp value may lie with your enjoyment, which you take with you . That value can encompass, the ripped, the torn, Cinderellas, Jam Jar labels, Pristine mint superbly centred, Covers, Hinges or Mounts. The value may be in the time you spend with your hobby. |
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Post by hs2oca on Jun 12, 2015 23:31:44 GMT
This is true Rod.
I actually told Hubby the other day to take my collection to the local stamp club to disperse. They won't want much out of it, but they might be able to give him pointers on how to get rid of it.
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rod222
Member
Posts: 11,047
What I collect: Worldwide Stamps, Ephemera and Catalogues
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Post by rod222 on Jun 13, 2015 0:19:00 GMT
This is true Rod. I actually told Hubby the other day to take my collection to the local stamp club to disperse. They won't want much out of it, but they might be able to give him pointers on how to get rid of it. Excellent. I have willed my collection similarly, give back to those who share the passion. |
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AirmailEd
Member
Inactive
Posts: 174
What I collect: Worldwide airmail stamps through 1940, unused
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Post by AirmailEd on Nov 17, 2015 3:53:36 GMT
Giving this old thread a bump. I'm writing instructions to my niece, who will be my executor, and I'm hoping for some advice.
Has anyone on the board sold a collection to a dealer? If so, who was it, and were you satisfied with the experience? I want to give her a few dealers to approach, including auctions. If you have recommendations, I'm all ears.
I've bought from many dealers, of course. Those have almost all been pleasant experiences. But I don't know how they would be as buyers.
As someone once said on this board, we are just caretakers. Others have owned our stamps, and when we're gone, our collections will move to new homes. I want my stamps sold to people who will appreciate them. They might just sit in a box if they're given to a charity or a museum.
BTW, I'm sure we have a lot of newish members. This was an excellent thread. If you're doing estate planning, or thinking about it, go back and read it. Over the years, I've read countless pleas from clueless inheritors. At the least, tell people how to dispose of your collection, if they want to. Otherwise, it could end up in a leaky shed, or a landfill.
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Post by hs2oca on Dec 1, 2015 0:37:43 GMT
Hi AirmailEd. I approached a dealer earlier this year to look over my collection and help me pinpoint anything of value. There were three things he picked out as being worth about $100 or more. The rest he politely indicated he had tons of in his stockroom, which was very full, sad to say. So I'll tag those three items as valuable and the rest is just for my pleasure. To be auctioned off at the local stamp club meetings on my demise no doubt! |
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rod222
Member
Posts: 11,047
What I collect: Worldwide Stamps, Ephemera and Catalogues
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Post by rod222 on Dec 1, 2015 0:59:00 GMT
Hi AirmailEd. I approached a dealer earlier this year to look over my collection and help me pinpoint anything of value. There were three things he picked out as being worth about $100 or more. The rest he politely indicated he had tons of in his stockroom, which was very full, sad to say. So I'll tag those three items as valuable and the rest is just for my pleasure. To be auctioned off at the local stamp club meetings on my demise no doubt! Generally true, however I would draw your attention to the premium that can be had by offering complete Album pages, no matter how mundane. This has been addressed recently by our member Bud (Stoltzpup) when marketing collections. Recently at auction, I bought 23 "picked over" pages Paraguay for $1.26 The same (roughly) time frame stamps, pages completed, I have seen go for $18-$30 I would think completed "year sets" would also receive a premium. It's good to be grounded, but there are ways to improve your sales, if needed. |
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