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I don't think there is a standard or norm, other than the oldest son/daughter/child's being the default heir. (Son more than daughter, but that's less common now.)
I think nowadays, parents just pass heirlooms down to whomever they choose.
After my grandparents both passed, my aunt gave me their wedding rings for Christmas one year. I was the eldest granddaughter, plus everyone knows how well I take care of those kinds of things.
Historical items should be given to the best custodian for future generations. These days, a $75 flatbed scanner can reduce most to a digital image so everyone can get a copy.
for us: eldest sone get first choice on dads heirlooms...eldest daughter gets first choice on mums...(ie my great great great grandmothers ring has been passed eldest to eldest... and my dads poket watch is about 8 generations to the eldest male) beyond that though its a case of equally divided with preference going to whoever wants the item and not what the items worth...
sounds like this may be a family argument...in my family it woudl definatly 1: depend on the objects history and 2: depend on who would look after it best...
if a peice has historically been an eldest daught to eldest daughter kind of peice i see no reason to break that ritual...
if however it becomes a problem noone would get the heirloom, it would be sold and the money recived divided equally to avoid issues.
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