Insure Rare Family Heirlooms
8/2/2012 12:00:00 AM
The Toledo Blade Newspaper recently reported the story of a man who found a million dollars’ worth of vintage baseball cards in the attic of his late grandfather’s Ohio home. Of course, the valuable collection was not covered by any insurance. The grandfather may not have realized what he had in his possession.
The rare baseball cards of Hall of Fame greats Ty Cobb, Cy Young, Connie Mack, Christy Mathewson, and Honus Wagner, among others, dated back a century to 1910. Since the cards were in a box and bundled with twine, they were in excellent condition, making them even more valuable to collectors. According to experts interviewed by the Toledo Blade, the collection of 700 rare baseball cards may be worth as much as $3 million dollars, and may be the collection to which all future discoveries are compared.
You may not have a collection worth $3 million dollars anywhere in your home. However, you may want to take a look at any old family heirlooms or collections you do have in your possession. They may be worth more than you think. You may want to have your heirlooms appraised to determine whether or not you need additional insurance coverage for any of them. You may never be able to replace the sentimental value of a lost or stolen family heirloom, but you may want to recoup the monetary value through an insurance endorsement.
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The rare baseball cards of Hall of Fame greats Ty Cobb, Cy Young, Connie Mack, Christy Mathewson, and Honus Wagner, among others, dated back a century to 1910. Since the cards were in a box and bundled with twine, they were in excellent condition, making them even more valuable to collectors. According to experts interviewed by the Toledo Blade, the collection of 700 rare baseball cards may be worth as much as $3 million dollars, and may be the collection to which all future discoveries are compared.
You may not have a collection worth $3 million dollars anywhere in your home. However, you may want to take a look at any old family heirlooms or collections you do have in your possession. They may be worth more than you think. You may want to have your heirlooms appraised to determine whether or not you need additional insurance coverage for any of them. You may never be able to replace the sentimental value of a lost or stolen family heirloom, but you may want to recoup the monetary value through an insurance endorsement.
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