As an appraiser I tend to take care of other’s peoples needs far more than my own. My latest homeowner’s insurance policy caused me to take a second look at the coverage for my antiques. Yes, I do have them including some furniture, lots of carnival glass, Belleek porcelain, blue transferware plates, china, depression glass, etc. I also have some nice jewelry my husband of 48 years has given me. I called the agent and discovered I only have $1000.00 coverage on my antiques and $1000.00 on my jewelry! She then informed me I needed an appraisal! Well guess what I am an appraiser and now I have to have someone come appraise my property. So don’t think because you have household contents coverage your antiques are all covered under the contents. Check with your agent and call a certified appraiser to appraise for insurance replacement cost of your property. To further protect yourself inventory the items, photograph them and give a copy to a trusted friend on put on a flash drive in a safe deposit box. In case of loss it will jog your memory.
Washington to Obama Presidential Campaign Buttons
Now that the 2012 presidential campaign is over and we can all breathe a sigh of relief from robo calls and television ads, it’s time to think about what to do with those bumper stickers, convention badges, political buttons and assorted merchandise related to the campaigns.
Anderson Americana, an auction company which regularly holds auctions of political and historical memorabilia held an auction July 10-11, 2012. A catalog of this auction is available from Anderson Americana, Troy, OH. The most expensive button sold was the 1960 campaign between John F. Kennedy and Richard M. Nixon. The 4 inch celluloid button with “America Needs” and “Kennedy” centering a black and white photograph of John Kennedy sold for $806.00. A 1948 “Truman for Me’ celluloid 11/16” button sold for $50.00.
One of the common terms found in descriptions of political buttons is “jugate”. This means the button has a pricture of the presidential and vice presidential candidates side by side. Like all collectibles the older, rarer, and mint condition buttons are generally more valuable than those with missing pins and damage. A 1904 campaign campaign button printed in red, white, blue and gold for the Democratic candidates, Alton Parker and H. G. Davis centered by an image of the Democratic elephant surrounded by various slogans and in fine condition was reported as valued at $644.00 in the 2008 Antique Trader Collectibles Price Guide.
Not all campaign buttons are old. Reproduction buttons have been issued in 1972 and later dates. If you are considering collecting visit the web pages of collectors such as Hake’s Americana & Collectibles, Ron Wade, John W. Davis, E-Bay, Legendary Auctions Seacom Enterprises. These web sites provide an education in the collection of political memorabilia.
Grape and Cable Collection
“One Big Happy Family” room display of Grape and Cable pitchers, tankards and tumblers.
ICGA Carnival Glass Convention
The International Carnival Glass Association Convention was held July 11-14 in Springfield, Illinois. Attendees at the convention were invited to visit individual collectors rooms where displays of carnival glass were presented. A display of colorful five-inch to seven-inch plates of many patterns and finishes was available for viewing in the main convention room. Visitors to individual display rooms were able to learn from the collectors about patterns from various manufacturers and countries. One room display featured glass from Germany, England and Czechoslovakia. Seeck Auctions ended the convention with the sale of a portion of the Leonard Collection of carnival glass. Details of the auction will be included in a future post.
Distinguished Service Award
Announcing 2011-2012 Award Recipients
ISA is pleased to announce the award recipients from the 2012 Awards Luncheon.
New Provisions – Estate Tax Law
Several new and different provisions were included in the 2010 Estate Tax Law. One trickled down to much smaller estates. A brand new form was designed to report a much more complicated set of decisions that an executor had to make. Earlier laws generally provided that the income tax basis for assets transferred to beneficiaries from an estate was their “fair market value” on the sdate of death, or six months later if it would reduce the liability for estate taxes. However, the 2010 law provides that only $1,300,000 in value of assets can be “stepped up” to fair market value from decdeent’s basis. If property is left to a surviving spouse, another $3,000,000 can be stepped up. All other assets retain the basis of the decedent which may create large capital gains when sold.
The new form is to be filed by the executor for decedents dying only in 2010 to inform each beneficiary of the basis assigned to the assets they received with a copy to the IRS for their information. There will be major changes in taxing estates in 2013, and limiting the amount of value increase will probably be a popular idea with lawmakers. This law extends the time for maintaining basis records back to the death of a person’s spouse, or back to the acquisition date of any asset owned for decedents in 2010.
So be sure your executor is aware of all changes in the laws and keep your records. Help your executor out before hand by identifying the basis of all your own assets. If you were a beneficiary of a 2010 decedent make sure you have a copy of the Form 8939. Be certain your executor knows where you file your records. Identify appraisers for assets not easily valued such as jewelry, coins, stamps and household goods.
This information was provided by Clayton Tuggle, CAP, CFP. Tuggle & Russell, LLC
Did you know?
- Antique clocks were produced with only hour hands until around 1820.
- Full services of sterling silver flatware were first seen in America in the 1870’s.
- Tiffany & Co., produced silver in Japanese, Indian and Moorish styles and after 1880 in the art nouveau style.
- The English used table napkins as long ago as 1675.
- Andre Charles Boulle was the leading cabinetmaker of the Louix XIV era and a celebrated member of a distinguished family of ebenistes. He used brass, tortoise shell and ebony to decorate his case pieces.
- In English ceramics the name “Vicar and Moses” is given to a pottery figure group first made around 1770 by Ralph Woods of Burslem, Staffordshire. The group portrays a parson asleep in the pulpit with his good friend and parish clerk Moses delivering the sermon!
- The Grand Tour in the 1720’s consisted of Athens, Rome, Paris and London. Rather like some of our group tours today!
- Wooden movements were generally used in early American shelf clocks until around 1820.
- It is said the first silver forks originated in Italy.
- Reproduction ceramics, glassware and furniture are being made today in various countries throughout the world.
Ask Beverly 