ADVICE TO THE LOVELORN -- NUMISMATIC DIVISION.

An advice column in my local newspaper this week bore the headline "Gramps Wants To Sell Rare Coins." I don't usually read this stuff but that headline was too compelling.

An aged father of three sons wants to sell his coin collection and distribute the funds to the three sons. The sons want to keep the collection in the family even if it is split among the three siblings. Gramps wants no part of that, insisting it be sold to the local coin dealer (but he will not state his reason for this action).

The advice columnists blew the answer. First they said get a medical checkup of dear old Dad. If that doesn't work have Grandma intervene if she is still alive. Wrong answers.

What they should have suggested is this: The sons should contact the coin dealer and work an arrangement with him in advance. Pay grandpa fair market value for the collection. Have him hold the coins in escrow (a safe deposit will do). Then when the money is distributed among the three sons -- or even before -- pay the coin dealer the amount he paid for the collection plus a service fee of, say, 5% or so. Plus interest on the amount for the time elapsed.

The coin dealer would be crazy not to accept this agreement. He gets three new customers of means to continue adding to their individual collections. He knows what they have and what could be added to each son's collection. This is a win-win-win solution for everyone, and the coins remain in the family.

If Grandpa thought there would be a squabble among his sons about dividing of what coins going to what son -- and he wanted to avoid any dissention -- the division of the collection is an easy matter. Hold a closed auction among only the three sons. They could each bid on what they want the most up to the equal amount of one-third, Or if they agreed in advance, they could add a small amount out of their own pocket of, say, no more that 10%.

Just don't tell Grandma

To read the complete article, see:Gramps wants to sell rare coins(www.pressdisplay.com/staging/timesonline/viewer.aspx)