Heirloom dilemma

[wanderer9]

Several years ago, my grandad passed away and left me a stamp collection worth thousands.

I put it in the attic to gather dust.

Although its mine, something doesn't feel right about selling it. He never specified to me what I was supposed to do with it. And I have zero interest in stamps. I don't need the money desperately, but it would surely be better invested in something more mainstream. And anyone prepared to pay that sort of money for it would appreciate it more than me.

So I don't know what to do. I haven't asked my parents what they think, but i suspect they would like me to keep it. Pointless as that seems.....

hmmmm.

[Bocheezu]

Depends how much the stamp collection appreciates over time. If it's less than something else you could be investing in, than you should sell it and put the cash into the investment instead. Unless, of course, your parents make a big deal of it and basically force you to keep it.

[hillbillysurf]

It's yours......No one, not even your parents, can tell you what to do with it. I think I would personally keep something like that, because its sentimental and historical value will increase exponentially over the years.

However, I also think it would be totally fine to sell it and invest in something more lucrative, or use it as the downpayment for something big....that way you'd always remember what your Grandpa help you get. If you do sell it, at least don't pay bills with it, unless you really have to.

[HDC80]

If the stamp collection is something that brought your grandfather joy, dont you think he would want it in the hands of someone that it brought joy to rather than sitting in an attic gathering dust and unseen or held or appreciated??

You could sell it, the other person would enjoy the collection, and you would enjoy the money from the sale...be it in a retirement fund, or take a nice vacation, which is probably what he would have wanted for you.

I could see holding out to see if the worth goes up, but stamps can be fickle..worth something today, worth less tomorrow (I used to collect).

Anyway, whatever you decide its your decision since it was something given to you.

[wordsmith]

I don't know anything about stamp collecting, but is there any type of small historical museum in your area that would appreciate the gift or a long-term loan of such a display exhibit? Small museums often cater to niche interests.

My grandmother passed away, leaving a huge house full of incredible antiques. When our family went through things, they kept quite a bit, but there were things that were quite valuable but not of any particular interest or sentimental attachment to immediate family, things that nobody has room for, etc. So my dad contacted our local historical society and is donating/loaning quite a bit to their collection, since much is of historical significance. That way, my dad doesn't feel guilty for getting rid of heirlooms, and they're being enjoyed by people who are interested in them, verus stuck away in storage.

[wanderer9]

if i was making the decision purely from a selfish prspective, i would sell it. however, i think it might upset my mom, who is a very sentimental person, and also my uncle who i think put a lot of time into collating the collection after my grandad died. so at the minute, i think i'll keep it.
the idea of loaning to a local museam is a very good one - something i hadn't considered but will look into - family wouldn't mind that at all.
the only other alternative would be to sell and re-invest in something specifically related to my grandad or donate to a charity he was involved with. with the family pressure, i'm not sure i could get away with cashing in to go on vacation. I can imagine my uncle asking me over xmas dinner 'so where's that collection from your grandad i spent ages working on for you....'...
'erm, well, you know that month i had in mauritious....'!

[wordsmith]

the idea of loaning to a local museam is a very good one - something i hadn't considered but will look into - family wouldn't mind that at all.

We also found that it was a satisfying way to not ruffle feathers, and meant that stuff could be taken off our hands without being just dumped, and we could move on with our lives, knowing it was somewhere appreciative.

the only other alternative would be to sell and re-invest in something specifically related to my grandad or donate to a charity he was involved with.

Also not a bad idea. I always think of scholarship funds, with stuff like this (maybe for kids who are interested in studying history, or something that ties in?) but for the cash value, it probably wouldn't go very far for something like that.

[spokes]

perhaps i took your comment too literally, but if they are in the attic, you may want to consider moving them someplace more safe.

you may also want to consider getting the collection appraised, to get a sense of it monetary value.

If you did sell it, you may want to cosndier approaching the family first to see if anyone wants to buy it.

[WorkInProgress]

I like the idea of the historical society loan concept.

But if that's a no go, I'd sell it.