Purchasing someone's registry set, sad story.

[mackbrass]

Over the weekend i was able to purchase 21 of 34 coins from a former #1 NGC registry set.

 

On ebay i noticed a few high grade coins pop up at a great price so i decided that although I had them and most in higher grade i would purchase them. Since the earlier graded libertads have such low populations and you dont see them come up for sale very often, adding to my collection was a no brainer.

 

As the day passed, i noticed there was a pattern to the selling as the owner started from oldest to newest. It was like clockwork, every few minutes the next one would pop up and i would buy it and so on. Then the holy grail years popped up, 1997 to 1999 all in MS68 and i hit buy it now immediately for each one. After trying to pay, it stated they were no longer available. I was shocked to find out there was another buyer that discovered what was happening.

 

As the weekend passed, i reached out to the seller asking him to call me. Not only did i want to confirm this was real but i noticed on the Libertad 1 oz BU registry site that a former #1 set had disappeared and wondered if these coins belonged to that set. Late Sunday i did get a call from the owner and he confirmed the set and we talked for about 45 minutes. His decision to sell them was because of what he went through in caring for the loss of a family member and their assets. He did not want to leave his family with the responsibility of having to sell his collection and being in his late 70's decided to start taking care of it himself.

 

Selling a collection or lightning up your load is something i think about every day. Although I am only 50, having something unexpected happen is a reality so i have been considering and even started to sell a small portion of what I have. Right now i am not supposed to be a buyer but this was an opportunity i could not pass up. I have always looked at collecting as not owning but being a custodian of coins. There will be a time that custodial possession must be passed on and making a decision as to when its time must be difficult.

 

At the end of my call to the fellow collector, i felt i was saying goodbye to a long time friend. During our conversation i let him know how i felt blessed in being the new custodian of most of the coins that he spent 15 years collecting. I have no plans on selling any of them for a profit as they have been registered in my current sets where they will stay until its time to pass on custodial ownership to the next.

 

See more journals by TMCGRADY

[RWB]

Better his way than to leave it to heirs -- they often make poor decisions for coins or other collectible items.

[Six Mile Rick]

Always a great feeling to be custodian of a NICE group of coins for a while!!

[PTO-migration]

Well Put.

[jpcienkus]

Cool story.

 

What happened to the '97 - '99 coins? Were you able to get them? Did he explain the situation?

[mackbrass]

As fast as I was on the draw there was someone with a faster internet connection as i did see they were sold.