Coins for My Children

Yes, Gold became legal to own in bullion form in January of 1975. But the K-rands were illegal because of apartheid.

 

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Heck, congrats Dad. Good choices too.

 

I have 2 daughters that really never caught the bug although I tried. My next step is to try to get my grandkids hooked. I have 5 Dansco 7106 albums filled with red uncirculated Lincolns and just celebrated the arrival of my first granddaughter and purchased another album. Hopefully one of them will continue the collection I've started.

 

There is a great lesson in this thread, in and amongst all the good ideas and information.

There's a difference between buying something nice (maybe expensivea) as an investment for the child and buying something they can play with. It's the play that probably best leads to creating a new generation of numismatists.

So if you're going to give him that $20 gold piece and have mommy and daddy put it away until College... also give them a bunch of cheap Wheat cents or Buffalo nickels, either loose or in two by twos and let them have something to play with also.

 

Before I had kids I would give friends who had children a silver dollar from 100 years before. My girls were born in 2004 and 2005 so they have proof birth year eagles but had to make do with a 1905 US-Philippine peso and 1904 Morgan.

 

K-rands didn't become illegal until the early to mid 1980s. I bought a couple of them in 1980 and still have them. They and the Austro-Hungarian 100 corona restrikes were the only way to get gold in a large sized coin without paying a premium.

 

I have 4 grand children and ever year I give each one a proof silver eagle.

 

I thought you guys would enjoy this. Here is Owen (a day or so before he got his own coins)...he stole a box of mine off my desk and was looking through them.

 

Not until the mid 80's, it was president Reagan who signed the legislation making their importation illegal (K-Rands that were already in the US were still perfectly legal to own, buy, and sell. You just couldn't import them.)

 

Thanks for the clarification. I remember they were discussed in the movie Lethal Weapon 2 and how they were illegal.

 

I had to look myself - it was 1984 and Reagan reluctantly signed the bill, he was opposed to sanctions.