Putting a major coin collection together is not easy.
Giving it up when the time comes to sell it is probably not easy either.
Though I have sold coins from time to time, the idea of not owning any numismatic items is an unhappy thought.
Perhaps we have had a hint this week of just what mixed feelings owners of major collections might be feeling when the time comes to sell.
Heritage Auctions announced that the second, third and fourth Donald G. Partrick Collection Auctions will be postponed.
The first part of the collection was sold in January at the Florida United Numismatists convention.
Almost $26 million was realized.
That’s a huge number.
To think more parts remain to be sold is astounding.
Did Mr. Partrick’s estate planner become alarmed that too much tax liability was heading his way?
Did Mr. Partrick think the results could be even better and decide to hold on yet longer in anticipation that price increases of his incredibly rare material can only continue?
We will never know for sure. Both thoughts are reasonable for anyone in his position.
The formal statement said this: “Because the family has no immediate use for additional funds, and Don continues to delight in his collection, they proposed an extension agreement,” said Heritage co-chairman, James Halperin.
To any collector this rings true.
Who doesn’t take delight in his collection?
We all do.
We want to hold on to what we have for as long as we can. This attitude seems to be in our collecting DNA.
Other collectors who have not yet finished their life’s numismatic work are probably disappointed that they will have to wait a bit longer for the rest of the Partrick collection to come on the market.
We can all understand that as well.
But one thing that also sets successful collectors apart is their public behavior.
The statement made by the family was classy.
“Mr. Donald G. Partrick wishes to thank Heritage Auctions for the outstanding catalogue and incredible results achieved for the sale of my coins, part 1. It was truly a wonderful experience. It exceeded my expectations and I look forward to my future sales with Heritage. I love my coins and would like to continue to enjoy them a while longer.”
Halperin’s reply for Heritage was also classy.
“Don and his family are wonderful clients and a pleasure to work with, and we are very grateful for the trust they have placed in us. Therefore, we were happy to accommodate their wishes. We look forward to conducting the remaining Partrick auctions at a later date, to be determined.”
I hope I will always conduct myself as well.
Buzz blogger Dave Harper is winner of the 2014 Numismatic Literary Guild Award for Best Blog and is editor of the weekly newspaper "Numismatic News."