Collector’s Primer: planning for the continuation of your cache
Rare is the person who collects nothing. Most of us have some affinity for particular items that we simply must collect. Some collected items have great monetary value, while others have only sentimental value. Some enjoy the challenge of amassing rare collections, which, if substantial, may bring renown amongst collectors and non-collectors alike. Others maintain collections that may not have great monetary value, but that have been passed down through generations of family history.
When it comes to your cherished collection, you should be aware of these important considerations.
Keep good records
You’ll want to be sure to properly document your collection. Retain records of your acquisition of the item, including the purchase date and price, as well as the condition of the item and any identification numbers or other identifying information. If your items are not located in an obvious location, provide location information for each item. Moreover, if you have chosen to insure your valuables, you should also be sure to maintain current copies of all insurance contracts.
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by: Gina M. Barry