First silver purchase: a few questions

Well good for you Dave....and need I say...now it starts!!! LOL

 

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Go back to your local coin store and grab the 2000, 2002 and 2003 for $75.00. At some point when the kids aren't around take the coins into the garage and clamp each one to a board (using a rag so they don't get scratched) and drill a 3/8 inch hole in the top of each one.
When you get around to handing them out in 5, 7 and 8 years, they will make a great key fob. That way they will always think of you and it will also be a nice conversation piece to show friends.
Otherwise, they will toss the coin in the sock drawer and it will be forgotten the day after you give it to them.
I have a 2009 Lincoln commem silver dollar as my key fob and it was the best $30 I ever spent.

 

Um... I don't think I could do that to such a pretty coin. I'd rather NOT give them that particular gift than destroy an ASE to make a key fob.

I've decided to go a different numismatic route for gifts instead. Just in case they're going to toss something like that into the sock drawer and forget about it.

 

Expand...what's your idea?

 

I was going to go the "less expensive" route and start them each with a proof set for their birth years. Then, depending on their numismatic interest level and specific item interests, go from there.

 

The Proof Set is a good idea...that way they get to see all the coins and perhaps any one or all of them will attract their attention and they too will want to begin collecting coins...they'll already have a good place to start.
Dave, if budget permits I would still recommend the Silver Proof set, if not the Clad version is still a beautiful coin.

 

How about a 100-year old coin?

There are plenty of nice Morgan silver dollars in the $30 - $75 range.

Look for the less-expensive high-mintage Morgans from these Mints:

-- 1900-O (New Orleans) and no-mint-mark (Philadelphia)
-- 1901-O
-- 1903 no-mint-mark

For each year, you can choose from literally hundreds of coins on ebay. (To be safe, stay with "Top Rated" Sellers.) And of course, also talk with your local coin shops.

Some coins in mint state (MS) condition are graded & slabbed. Like this: http://www.ebay.com/itm/1900-O-MORG...025974?hash=item33c3115876:g:goEAAOSwHMJYK3Xf

Whatever you decide, enjoy the search!

 

"At some point when the kids aren't around take the coins into the garage and clamp each one to a board (using a rag so they don't get scratched) and drill a 3/8 inch hole in the top of each one."

So you don't want to scratch it but you are willing to drill a hole in it? There is so much wrong with that logic I am not sure where to begin.

 

Sorry to hear you changed your mind about the silver eagles Dave. I have been giving out birth year eagles for some time now,(my kids,grand kids,nieces,nephews), With an added twist; not only does the coin have their birth year on it, but I tell them the coin was made the DAY they were Born !

 

Why drill a hole in it at all? Why not get a retention ring with chain from a jeweler?

Chris