My grandma-age investments

yeah, I will try to be nicer to her, me and my sister have many more years left than her

 

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One piece of advice that no one has mentioned. Make sure you have a WRITEN (and prefereably signed and noterized) document stating that 1/3 of the coins are your, 1/3 your cousins, and 1/3 your sisters. Make sure there is a copy in the box and each recipient should have a copy. (This is to prevent any squabling in the family later over who gets what. I would also recommend a set of ledgers, also in triplicate, that records every time another coin is added. The problem is that since they are in YOUR box you are leaving yourself open to accusations that you might have removed some of the coins. (I'm not saying that this will happer, it is just a CYA good idea.) And I would NOT have grandma mention these coins in her will. One good thing about them being in a box not in her name is that it is eazy to make that asset "disappear" and never show up in the estate. If the box was in her name it would be sealed upon her death and the contents inventoried. On the bad side, if something happened to you they might be included in YOUR estate and your sister and cousin would lose out, UNLESS that document from your grandmother was there to prove that only 1/3 of them were yours and the rest belonged to others.

I know you say she is in good heath and that ylou are young and heathy as well, but accidents, say drunk drivers, don't just happen to sick people who were about to die anyway.

And in the 1970's they said the world would run out of oil by the end of the 80's.

 

I would have to agree totally with your post, GET IT ALL IN WRITING.
mike

 

When turmoil is in the world stocks go down , gold goes up. Vice versa when things are rosey. Buy Gold as insurance and to hold money , but don't expect to get rich off of it.

Any moderate buying of gold is good. Just cost average it if the price plummets. Example. 1 oz = $600. Gold goes down to $200. Buy two more oz's. Therefore you bought 3 oz's for $333. Then wait for the price to go back up. Either way you can't lose. Gold always moves up with inflation even when it goes down due to world events and increased mining.

Again just my opinion..

On a side note I can't believe you want a 12 year old to tell granny he needs this promise of gold in writing. LOL

 

no, she is giving us the gold as gifts before she dies. And my parents and my cousins parents don't need money that bad that they need to steal.

 

Ok, so they are a continuing gift. Then you don't need the document from her. But you are still holding other peoples property in your box. I understand that your cousins parent may not need money bad enough to steal it, but simple disagreement or misunderstanding in such cases are commonplace and often divide families permanently. It is just best to have everything in writing to head off trouble before it ever starts.