Some of us collect guns and really care for them with the intent of passing them down to our heirs when we pass on. How much would a 50 year old revolver, still in excellent shape, but no box or papers really be worth? I have a 40 year old Model 19 that is beautiful. No box or anything. I'd say I could get between $550 and $600 for it now. I just have this thought of my son selling them off to pay his cable bill or something 20 years from now.

One thing about it..........We have no control over them after we're gone. Alas, my son is a Colt collector........I shutter to think he would turn all my Smiths into Colts.

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S&W Accumulator

If that does happen, then we know that your Model 19 is worth a cable bill to your son.

However, if the passed on firearms are cherished by our Heirs the way that we cherish them, the value is priceless. Your heir or mine would not trade it for a stack of dead Presidents no matter how tall.

You're right. The trick to it is to instill those feelings in them while they're young. My model 19 was bought for $250. Gun store bought a bunch of revolvers from a woman who had recently lost her husband and was getting rid of his guns. If I got it for $250, they probably gave her $100 for it.

I suspect most of us rationalize a bit when we buy the next gun and the next -- that this is an investment. I know I tell my wife that. I think we buy them because we like them -- a lot. My wife says I am a 10 year-old playing with my guns. I think she's right.

When they slam the lid on me -- the fact will be that revolvers were the cool guns of my youth and my kids might appreciate how I appreciated them, but they probably have their own ideas of cool.

Fact is that we have no control over the future. What we must believe is that we have taught values to our children and that they will always remember this and honor us in such a way that anything "family" always stays in the family. Kyle

Having just passed my 51st birthday this question has been plagueing me for quite awhile now. I've spent 40 years studying guns, I've always appreciated them for the mechanical works of art they are. I was the kid who nowadays would be kicked out of school for bringing 'gun' stuff to class, I've always had an attraction to them bordering on OCD.
Over the past few years the question of 'what will become of these' has grown in my mind, unfortunately the answer already given is the only one we can count on, We have No Control. All we can do is to try to explain to our families why we collect, what they mean to us and that there is value in the things we have strived for years to acquire.
To that end a couple of years ago I started logging all my firearms and other collectables. I've built a journal of all my guns. In this journal I've tried to explain each firearm, where I got it, what I paid, what it's worth, where to look to find current worth, what each means to me and what I want done with them. I've taken simple hang tags and written a cross reference number to each journal entry so that when that day comes that I'm not here my Wife and Son can easily look at the tag, reference it in the journal and have some idea of what it is they are dealing with.
Family members don't have the decades to learn nor the inclination to do so, all we can do is to try to make them aware of what it is we are trying to do and what our possesions are worth. I've talked to my Son and my Wife about this and made them aware of how to fit things together, really that is all I can do, try to make them understand.
This has had a side benefit tho', the Wife no longer rolls Her eyes and fusses when I bring a new one home (well not so much), I can show her how the value of my guns has increased over the years, in some cases considerably. I don't catch half the grief I used to when it was so much of a mystery to Her.
That's how I'm dealing with this, it may help others. Good luck.
RD

*Here is what I'm talking about:

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Got a Phd from Hard Knocks U

Wow Smithhound! You got it all acovered. My collection is small, but i only own classic guns in excellent shape (other than my Ruger LC9 that i carry. Don't have any attachment to it. I might just follow your lead.

Smithhound,
What a wonderful idea. I'd purchased some larger hang tags that I was going to try and write the pertinent information on like you did but after seeing what you've done I've changed my mind. With your plan, one can use smaller tags that won't get torn off in the safe when moving things around and the use of a binder offers more space to write the information down the way it should be.

Thanks for sharing the idea!

Smithhound
Very excellent suggestions! I have made a list, indicating a few specific arms to go to specific children (we have 5). The rest to be distributed to them according to their desires and agreements among themselves. Fortunately, my kids are all close with each other emotionally and they and their spouses all get along well with each other.
But your idea of a more detailed journal is superb. I believe I will begin to develop one myself. It will be a long task and I'm afraid some of the acquisition details are lost to my memory at this point. But, at nearly 62, it is probably time to begin such a project.
Thank you very much for the idea.
Regards,
JP

I am very fortunate to know exactly what will happen to my gun accumulation when I am gone. My son will take them all over, and he will enjoy them as much as I have.
He is a Smith collector, and has accumulated as many, if not more than I have. I started him out shooting when he was seven, or eight, just like my father did with me.
We enjoy quality time together with our collecting, and shooting passion, and that is worth more to me than any monetary value that my accumulation has.

Tom

Hell, we ought to put them on an alter and worship them. I buy them because I like them. Period. I rationalize my obesssion by the "investment", heirloom, etc excuses, but in all honesty, I've got way too much money tied up in guns and if I had the time, I really ought to liquidate my collection and use money for other important things in life......I mean I'm wayyyyy past the point of having way too many revolvers-I haven't shot the vast lmajority of them in years.

I could really use the extra funds as well, I really want to buy that new SP101 in .22.
Damn-I did it again!!!

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Forum consigliere

We all approach this in our own manner. I'm going to guess my wife will do as she pleases, and directly against my instructions. I'm thinking she'll need money more than guns. But she'll probably let my son's decimate the collection. They'll pick and choose, probably against one another to deprive them. At least I think (but I'm not sure) they won't be selling them cheap for drug money, or electronic games.

What I want my wife to do is call David Carroll and tell him to stop on his next trip Nawth to the frozen wastelands. Let him haul away anything he wants, even furnish a tub or two. Then any that he's left behind, let the boys have one or two each. They need to have their own fun deceiving their wives and smuggling goodies past them. The hunt is half the fun, and inheriting a collection without really knowing whats in it, and how hard it was to find some items makes it worth much less.

Its not like I'm cutting them out of the will. They can sprain their own backs hauling all the ammo out. And they can have the reloading supplies, too. And the presses (if they can locate them all). And the dies. I hope they even waste many weekends trying to sell off the .30 Luger ammo and stuff!. I'd guess they'll squabble over the reloads, but neither have guns to shoot most of it. Sure hope they have the presence of mind to make sure the stuff like the .32-20 ammo goes with the guns. And certainly the .30-378 Weatherby dies and ammo goes with the gun. No one in their right mind would separate it.

But I'll be dead and gone. If I ever rewrite my will (long overdue), I'll cut out anyone who disobeys my instructions. Oldest son has the instructions....just dispose of the body. No services, no visitation, no nothing. Just cremate my body and dump the ashes in Hells Revenge (most here have no idea where or what that is.)

I've already passed along the family heirlooms. Both grandpa's guns. I never liked them all that much, and the only value was sentimental.

I have no clue as to what they'll do with all the Randall and Hibben knives. All are pretty (its why I bought them.) Bet my widow won't have a clue about what to do with a Randall folder! Bet no one here has ever even seen one! Or the Gil Hibben sword cane.

What something is worth is determined by what someone else is willing to pay. What they're worth to me is the memory of how hard some of it was to find.

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Dick Burg

Man, this thread has gotten me really depressed now...where'd I put that pint of Dickel??

Seriously, Dick is right, everyone deals with this differently. In my family, things that are passed down are kept. I have a vice, I mean a real one like for holding big things, that my Grandfather gave me before he died. Just a simple, large, heavy vice. It couldn't be worth $50, but it was Grandpa's and he gave it to me. That makes it a really special vice, so I'll keep it forever.
This is why there is a large two story barn in Dickson TN full of antiques that my Parents inherited form thier parents, who inherited them from thier parents etc...I know when they pass I'm gonna be stuck with it all and I don't even have a large two story barn!!
I guess the bottom line here is to enjoy what and who you have, while you have them. Greet the dawn and say Thanks, then go play with guns!!
RD

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Got a Phd from Hard Knocks U

This is why I shoot the hell out of most of them,as often as I can....... because I'm not gonna spend my life as a "curator" of my own little museum of unfired, NIB guns just to have my heirs hock my prized firearms before my body's even cold.......

my oldest, my son is only 3 but just today he went to the gun store with me to pick up another purchase. he even calls it the gun store. he loves all the animal mounts they have all over the place there.

so i stopped at my parents house on the way back home so he could get some time in with grandma and papa and i could show my newest purchase to my dad. my mom was "why do you need another gun". i replied, "why do you need another glass egg. why do you need another blown glass pumpkin?". both of which she collects and has a sizeable amount of money tied up in. "becuase i can afford it and i like them and its my hobby". yup. me too.

most of my guns i have bought used and i wouldnt feel any guilt selling tomorrow to raise cash in an emergency. there are a few that i were given to me as gifts and/or belonged to my grandfathers or great grandfathers. they are not for sale at any price. they are clearly noted as such in the safe and are designated to go to my son and if he doesnt want them then my bro and his sons.

otherwise i hope i live a long time and turn my son into a certifiable gun nut and he will want to keep the ones that he and i shot and hunted with the rest, well who knows. i'm only 37 but if i go to the great reward tomorrow, then my dad and my best friend (who conveniently works at a gun store) will help my wife dispose of all but the family heirloom pieces and maybe my dad will keep a few choice pieces for my son until hes old enough but they will probly sell the rest for cash. it is what it is. maybe my opinion will change when my kids are adults.

Wonderful thread. I'll be 60 myself in a couple of months, and this has been on my mind lately, too. I'm just going to enjoy them while I can, sell what I need to, and give the rest to close friends who think as much of them as I do. One thing is for sure, we'll leave them, and everything else when we go. Bill

Wow! I stirred up a hornet's nest. I'm only 40, but my son is 4. I hope to be around to teach him to shoot and instill a love for them so that he will gladly inherit them and cherish them as I do. One thing i DO know is that if I ever get sick and know my time is short, I'm selling whatever isn't wanted. My wife wouldn;t know what to do with them.

I don't really care what happens to my rather motley collection. My wife has instructions to sell them if she wants to, give them away, whatever. I doubt my boys know much more than "Dad has some guns." They probably know more about my fishing tackle.

If the boys get them and sell them off to pay the cable bill, then the odds are someone who appreciates them will get them in the long run. Good nuff.

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John 3:16 .

Last weekend my father told me he his will together. I am his only son, I do have three sisters. Of his kids, I am the one who most into guns, and my Dad and I try to hit the range once a month.

I know I will not sell any guns I get from my Dad, most of them are guns I grew up shooting, and I can't put a dollar amount on any of them.

What does scare me is my sisters. One of my sisters is in to guns and owns a couple, so I believe she will also keep whatever my Dad leaves for her. The other two I have concerns, the one has gone shooting with us occasionally, I would hope she would keep what is left to her, but who knows? My youngest sister doesn't want anything to do with guns, I have a feeling, whatever is left to her, will be dumped at her earliest convenience. I hope I am wrong.

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5903TSW 5904 5906 6906 4006

This is a good thread and has definitely made me do some thinking. The point is clear that we will have no control once we are gone, and I'm o.k. with that. My wife has no interest in firearms, hunting, etc. and I'm probably not going to do anything to change that. At a minimum, I need to help her understand the value of my firearms in case she does choose to liquidate my collection. My kids (both pre-teens) on the other hand, have taken to the arts of hunting & recreational shooting. My hopes are my wife will continue to support their interests, which I'm relatively confident she will. She's a great women and truthfully puts her kids first. For each of my firearms, I have an idea which child I would like to leave them to. But that will likely change as my collection changes. I could put this in my will, but I don't want to have to change my will every time my collection changes. Nor do I want to tie my wife's hands in case she would need to liquidate my collection for cash. I think I have my affairs in order for my family to be comfortable financially should I leave this Earth unexpectedly. However, should surprises arise after I am gone, I don't want my collection to be a burden on my wife and family. So at the end of the day, I'll have the tools to help my wife make educated desicsions and trust her to do what's best for my family after I'm gone. For me, it's really the only option as I see it. But until then, I'm going to have as much fun as I can acquiring, shooting, teaching, etc. this hobby of mine.

We often say that "guns are a poor investment." Given the recent stock market trends, it's starting to look like they aren't any worse than anything else. (Except maybe gold). Most of mine are worth 10 to 50 percent more today than when I bought them. You can say that's just inflation, but you can say that about anything that's gone up that much. So I don't discount the investment aspect as much as I once did.

I think RD has the right idea. Have a system to convey the current value (with a date of course) and who to talk to about liquidating them if desired.

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You're shy a few manners.

RE: Guns as an investment. They may not continue to appreciate as they have in the past. I have the impression that the majority of forum members are older guys. (I'm 65) If the younger generations continue to prefer Glock type pistols, who's going to bid up prices on classic revolvers? Also not as many of the younger generations will have the disposable income for the gun hobby that boomers have if the economy continues as it is now.

I won't live to see it, but I think in 30 years or so there may be a glut of Harleys, antique cars, and other "boomer toys" on the market. In my opinion one should buy guns for enjoyment, not investment. Or at the very least diversify the investments.

I completely agree. If someone is in it for the money, they should cash out soon. For instance, all the 100th Anniversary 1911 hype is about over. As people get tired of paying 2x for .45 acp what they do for 9mm, we'll see the market flooded with deals on Centennial editions.

One of my passions is older drum sets. Rogers, Ludwig, Slingerland and Gretsch were the nameplates of the 30's through the 60's. I made a bit of cash in the early 2000's refurbishing and flipping these old tubs. In the past five years, interest has fallen way off. Partially because of the economy but mainly due to saturation of the market. All the old guys are flush with vintage drums and cymbals and the 20-somethings think they are "quaint". They'll play 'em but they're not buying.

Well I'm 67 and I would be lying if I said this issue hasn't crossed my mind and I finally figured out my plan for my guns. My sons are hunters and shooters and I've given each one an Over/Under shotgun of mine and a bolt action hunting rifle. I've also given my Grandson that hunts his first rifle a Savage Model 99 in 300 Savage when he started hunting and this past year I gave him a 30-06 bolt action rifle. I gave them these guns now so that I can watch them shoot and hunt with them before I die.

The funny thing is none of my sons have any interest in S&W revolvers and I have a bunch of them so I now consider them part of my 401K and I will sell them and use the money for whatever I want with it. If I die before the S&W revolvers are sold they will dispose of them and split up the money. I keep and inventory list with what I paid for them and it has all the information on each one so hopefully they will get close to what they are worth.

In the end guns are just things like any other thing and just because I have elevated S&W revolvers to almost a holy position doesn't mean my kids need to go to the same church.

I buy and sell estates for a living. Been doing it for about 10 years now and I have learned a lot.

What Smithhound does is OUTSTANDING and rarely encountered. It is a big help for values and the only thing I would add is to put a column in there for "Value as of XX/YY/ZZ". And if possible, keep it updated on a yearly basis. It helps the estate out in determining resale value--because frankly, that is what is going to happen.

I see estates lovingly given to the heirs that NEVER have as sharp of an interest as the decedent all the time. Just bought one 3 weeks ago. There are usually 'special' items that some keep---Dad's favorite shotgun, maybe the gun Dad taught one to shoot with. But the Registered Mag or Straightline? Unless they have nostalgic meaning to the heirs, well, those end up being payments on cars, houses or whatever is worse--drugs, divorce settlements, bad investments. I've seen it all.

And the accessories--oh my--I once pulled a big garbage bag full of gun boxes that included 6 maroon S&W boxes out of the trash-- the family threw them away because "No one wants that box for that old gun we sold on Craigslist." Luckily, I beat the trash man that time. I KNOW I missed many more cache's of value due to poor timing.

Believe me when I tell you I have heard of piles of old instruction sheets being used as fire starters.

So if the accessories go with the gun or are valuable, MAKE A NOTE and put it with the items. Try to keep them WITH the gun--many guys take the gun out of the box to store easier in the safe. BAD IDEA. If it goes with the gun, keep it with the gun.

And while what I am telling you IS a bummer--remember, we never really own anything. We are only the caretaker to the next guy.

The other part of the “worth” question is, how do your heirs get that value out of them? Your Registered Magnum may be “worth” $5000, but how does your widow find someone willing to pay that for it? If she takes it to the local gunshop, they’re going to try to gull her out of it by saying that it’s a Model 19 and that all they can give is $200. Even if she knows what it is and what its value is and the shop takes it on consignment, how many people with $5k to spend are going to come through the door? For that matter, for ordinary guns, gunshops and pawn shops are just about the worst place to get a decent price for anything. The only thing they really offer is convenience – someplace that you can just take a few guns and get [a little] money without a hassle. But for a big collection or accumulation, most shops wouldn’t be able to deal with it unless they simply steal them.

Gunbroker? Armslist? Your state’s gun forum Classifieds section? The S&W forum, or Colt or Ruger etc. Classifieds? All these are likely terra incognita to someone not already an enthusiast, and the logistics of selling and shipping without running afoul of the law are likely to be intimidating, never mind getting a good price.

Auction houses? Maybe, but how do your heirs find and select one?

For the uninitiated, turning guns into money (and getting good value) is not a simple matter.

Been battling with the same issue. While I would hope my sons and grandchildren would enjoy them I can see only one gun being wanted. My 30-30. Everything else is going to be sold in the near future except the few I shoot.

I made sure there is a "Trinket Clause" in my will that stipulates what happens to my guns. Specific guns are left to my son and grandson and son-in law. All other guns to be disposed of by my wife as she see's fit, and I have told her which auction house gets the most money for guns. Now, I do plan to begin to dispose of a few between age 75 & 80 so my wife doesn't have too many to deal with.

My guns are all logged in an excel spread sheet with proper identification, when obtained, how much paid, current value (updated usually annually). I do like the hang tag method, which would keep her from looking for S/N's on all the guns.

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H Richard
SWCA1967 SWHF244

I buy firearms that look good to me. And those are bought to shoot. I do have a few that are unshot and may/may not stay that way.

If I sell and break even on the purchase price...or even lose a little...I did better as far as enjoyment is concerned over someone who took a ski vacation or trip to Hawaii.

I agree with one/several posters here...soon all of our weapons will have less value instead of more because its mostly older folks who are driving up the price of the older, common, firearms. And as us older guys "move off" we will be flooding the market.

Those who have Clark Gable's favorite .22 or serial number 1 of most variants will still make money.

I HOPE to enjoy my firearms a little longer and then I hope to sell them off and leave the money in the bank. I have no family who is interested in firearms.

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Have guns...will shoot'em.

A big +1 on H Richard's plan. I added 3-view digital photos of each firearm to the description/specifications. I just hope my (now 3 y.o.) grandson will enjoy some of my collection. After all, he is an NRA Life Member.

Note: his mother & father are not ware of this fact yet.

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Bill - SWCA #2327

Everything i have is in a living trust. I have approched every relative I wish to leave a firearm to to check my collection and put in their wish list then I have the firearms listed in my trust and the rest will go to auction so my wife and Jody can have a great time in Hawaii. Of course this is subject to change.

SWCA 892

I just don't see a bust in the future. I believe a tool of fine craftsmanship and , in some cases, hand-fitting will always be appreciated. Polymer pistols will never see this. Fine revolvers are already a work of the past, and I believe there will always be a dedicated following of those who appreciate them. How much is an extremely old but finely made pocketwatch worth, even in this digital age?

As a younger guy (38), I have very mixed feelings reading this thread. There's something odd about your generation and hoarding/collecting stuff. I mean, it makes no sense whatsoever--I see the pictures on here. Some of you have like 10 of the same exact revolver! They aren't that special, but you have been so successful and relentless at obtaining every last thing out there that might be "collectible" that it has become impossible to find any reasonably priced older S&W revolvers anymore. I think the Internet plays a big role in this problem, too, but there were millions of Model 10s and 19s, and so forth made and yet, where are they all? Sitting in safes with dozens of other similarly unused items?

There's also something odd about the gun industry, too--they like to make sure old inventory gets destroyed to make way for whatever new stuff they are trying to hawk, so maybe that's the real answer. Or shipped overseas? Where did they all go, seriously?

Anyways, please don't collect things and worry about "value." If you want money, have money, if you like collecting things, collect them. When you die, your problems are over and the guns will all find new homes, trust me, they will. And if the prices continue like they have been, only collectors are going to be buying...

Or they may all become contraband by governmental edict.

I guess I can add my plan. While its similar to some folks here mine is different as my wife and I have no children ( a bump in the road of life I suppose). We are also in our 40's.
Anyhow I keep a excel spread sheet with prices, accessories, dates, and current values. Also I keep the purchase cost, high retail value and blow out fire sale prices. I also have instructions to bring it all to the LGS and get at least half of my high retail price or just a bit less. Then take the money and go to Tiffany & Co to buy herself something nice

While I have quite a bit of cash tied up in firearms, it been pocket money more or less. Its not the rent or food money so to say. I see it as a savings plan, if I had the cash and bought new cars, junk etc it would be gone. Buying a nice firearm, well the money is still here just in a different form. I would sell most all of them at anytime. The ones that were my dads would probably be the last to go. However since there's no heir for me to leave them to...

I have never worried about what's behind me. When I leave this life I'm 100% invested in what's next. Probably won't need "stuff." And the man who dies with the most toys is still DEAD. Joe

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Wisdom chases me; I'm faster

well they will have to figger out how to get in my safe first! i realy dont care, but would like my family to keep some of my guns, i got enough that they could all get something, but who knows what will happen cause i wont be there to hand them out.

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WILL WORK FOR AMMO!

I would not have as many wonderful old guns in my collection, were it not for the family of someone selling off a collection. I really thank the people who had these before I. Know that usually, the person who takes on an older guns is probably just as in love with it as you were!

....and if it needed to pay the electrical bill, then so be it. Yet another gun guy gets to fondle it and take it shooting!

And then there are those who just do not understand....