Keep a safe queen or sell???

[Colin]

So my father in law passed a few years ago and left me his remaining gun collection from his pawn shop days. One of which is a beretta S05 O/U. It has sat in the safe these past few years and I'm considering selling thru a broker or the like as it is worth 10k to 15k maybe more?

The dilemma is I'll never buy another gun of this quality and I don't feel comfortable taking this type of gun into the field as I only waterfowl. If i were to sell I'd squirel half of it away for my daughters college fund and give the other half to my niece for her college fund.

Should I sell or keep it in the family as an heirloom to be passed down?

Thoughts???

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[JakeLand]

Money comes and goes  heirlooms of quality dont

[Curly]

I bet your FIL would be pleased with what you are planning to do with it. Sounds like a better use of the gun than just sitting in the safe.

[Colin]

I initially had the same thought but then I used an interest calculator and if I put 7.5k in my kids early savers account 7.5k turns into 22.7k in 18 years... that's a lot dough!

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[Fl0und3rz]

I bet your FIL would be pleased with what you are planning to do with it. Sounds like a better use of the gun than just sitting in the safe.

  I know I would if I were him.  Sorry for your loss.

[Colin]

I initially had the same thought but then I used an interest calculator and if I put 7.5k in my kids early savers account 7.5k turns into 22.7k in 18 years... that's a lot dough!

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Uhh did something wrong there I think it's close to 10k after 18 years. Regardless it's hard to let go such a nice piece.

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[boneaddict]

Since it's not a gun that you guys have created memories with and seems more like an investment gun, I think you are on the right track.   Other than that, I'd hesitate selling an heirloom

[Timberstalker]

I misread this initially; I thought these were you father's guns, now I see they are actually your FIL's.  I'd sell them.

Only kidding, kind of.

It seems like your intent (College funds) is solid, so that seems justifiable.  Still would be hard for me to sell a heirloom, though.

[Angry Perch]

Since it's not a gun that you guys have created memories with and seems more like an investment gun, I think you are on the right track.   Other than that, I'd hesitate selling an heirloom

I agree. If there's no story or connection, it's just a wad of cash in the form of a gun. 

[Firedogg]

sell it and get a good start on the college savings. I agree since there is no emotional connection or real memories associated with it since it came from the FIL's pawn shop take your time and get the best price you can from it. Maybe use a small chunk from it to use for a new shotgun you will use to start your own memories with.

[dscubame]

If you had 15k laying around would you take that 15k and spend it on buying this gun from your FL's estate?

[Alchase]

If looking to start a collage fund, I would take a close look at a good Mutual fund account instead of a locked in "collage only fund". you would probably make a much better return, and if life throws you a curve, and your hild does not go to collage for one reason or another, you have options.
Just saying

[yorketransport]

Sell it and use the money for whatever you want; college, cars, cocaine, midget stripper jousters.....

Material things are material things and shouldn't have have an unquantifiable value assigned to them. 

[h20hunter]

Sell it. You FIL would then in turn be providing further....use your half on whatever floats your boat....go on that dream hunt.

[kentrek]

What's the gun going to be worth in 18 years ? 

[actionshooter]

If it came from a pawnshop and he didn't use it or grow up with it, I wouldn't consider it an heirloom. Helping kids out with college seems like an awesome plan.

[Colin]

If looking to start a collage fund, I would take a close look at a good Mutual fund account instead of a locked in "collage only fund". you would probably make a much better return, and if life throws you a curve, and your hild does not go to collage for one reason or another, you have options.
Just saying

I'll look into that! Thanks for the suggestion.

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[Colin]

Thanks for sharing your thoughts guys! I think I'm gonna sell it. Take my time and try and get a fair price.

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[762Armo]

What's the gun going to be worth in 18 years ? 

This is a good point.

[762Armo]

I initially had the same thought but then I used an interest calculator and if I put 7.5k in my kids early savers account 7.5k turns into 22.7k in 18 years... that's a lot dough!

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Must have been in a very low risk account.

[finnman]

Teach your daughter and niece a lesson in real life, make them pay for their own education. I never have agreed with people chugging money for someone else to get a free ride. Just my two cents. Education is important but earning it far more valuable than a hand out.
The heirloom factor is really a treasure. More than likely no one would ever spend that cash on a firearm on that quality. Pass it on.

[vandeman17]

If looking to start a collage fund, I would take a close look at a good Mutual fund account instead of a locked in "collage only fund". you would probably make a much better return, and if life throws you a curve, and your hild does not go to collage for one reason or another, you have options.
Just saying

I'll look into that! Thanks for the suggestion.

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529 plans don't have to be used for college but if they are, they are tax free. They can be invested just like a mutual fund where you choose how risky you want to be. 

[BD1]

Even though he left them to you...I think I would leave the decision to the wife. If she has no connection to it then I would sell it. My two pennies worth...

[Colin]

What's the gun going to be worth in 18 years ? 

This is a good point.

True. I really have no idea. I'm not even sure someone will buy it at its value now. I plan to call a friend's father in Montana that's a gun dealer for some info.

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