Why Heirs Sell Cheap (The Psychology of Found Money)
They didn't sweat for it. So they don't value it. Here is why your children will likely sell your stack for 50 percent off.
To you, that stack represents 20 years of blood, sweat, and savings. To your heir, it is a Lottery Ticket.
The "Found Money" Effect
Psychologists call this "Windfall Economics." When people find money on the street, they spend it frivolously. Inheritance feels like "found money." If a dealer offers them $5,000 for a collection worth $10,000, they don't see a $5,000 loss. They see a $5,000 gain. (Because they started with $0).
How to Fix It
You cannot fix this with logic. You must fix it with Story. If they know the story of the coins ("I bought these in 2008 when the banks crashed"), they attach emotional value to them. Make it harder for them to sell by burdening the coins with history.
Family Storytelling
How to talk to your kids about money without being boring. Scripts for the dinner table.