A friend called last night. He wants to invest $2000 in coins, $500 for each of his four grandsons, to be given as a Christmas present. He was looking for recommendations. I was wondering what members here think? Thanks in advance for your input.
Been a while since I bought any gold, but I bet you can still pick up common Indian quarter eagles under $500.00. They are historic. They are interesting because of their incused design... And they are GOLD and who doesn't love gold?
Thanks. That is correct. He is leaning towards silver rather than gold. Trying to decide if best to invest in a single $500 coin of multiples of lower priced items. Right now silver premiums are really up there.
With only a short time to get it together, Maybe Silver Eagles. Can't say it a good investment but would be easy to do.
Is there anything the grandsons are interested in? There are so many themed, (albeit manufactured) collectibles. Star Wars Comic Book characters Animals Sporting events I don't know if "invest" is the right word though. But maybe have your buddy call to some local stores, or visit a local show, and see what they have.
I would tell him he's only kidding himself if he calls this an investment. If he wants his grandkids to have a bit of money for college or something, buy them each $500 worth of index funds.
If he is spending identical money on each of 4 grandsons, then I'm assuming that he wants to ensure that they receive identical gifts. Unfortunately, this eliminates "Investments" in coins for collectable value, as purchasing 4 identical things in this realm is all but impossible. As a few have recommended already, this leaves coins purchased for bullion value. I'd think that 1/4 oz gold coins would be the option that would most thoroughly capture the attention of non-coin people. And, luckily enough, they are going for right around $500 apiece right now . I'd recommend to him that he specifically purchase a government issued variety (Eagle, Panda, Maple Leaf, Krugerrand, etc). You don't want to suggest the idea, and then have him come back with some gold plated noob-trap!
Assuming that the word "investment" includes an investment in Education, the Grandfather can buy 4 excellent numismatic books (each different so the grandsons can share) and a Christmas Card with an ANA Youth membership (cheap, and Grandad can support them and their interests by joining himself and sponsoring the grandchildren). In a separate envelope... and a separate gift so there is more stuff to unwrap which is an absolute criteria at Christmas..... insert a Membership to one of the TPGs which will include some free submittals and other free stuff. It does not really matter which TPG, but may be more interesting to keep it separate from ANA, since the Youth Membership is going to come with a lot of free stuff Goodies, and by using an additional TPG, learning the differences will be very educational, and the different TPGs also will give free stuff and submittals with Memberships. Why not use the TPG that is so often mentioned on these Boards, and supports the Boards, that Insider works for? Lastly, ANOTHER separate Christmas envelope for unwrapping (absolute criteria booster), a $100.00 new Bill, to get them started on their first coin purchase(s). Any other method of "investment" in Numismatics for the grandchildren will be a waste of time, without an Educational component. My opinion, of course. Truth in editing: changed 'form' to 'from'.
Depends on the individual ages. If under ~13, I'd be hesitant to buy any 1/10th gold oz coins...easily lost. Pretty much any kid conceptually understands 'quantity' better than 'quality', so buy them about 9 'common' modern US commemorative silver dollars. Over the last year, I've been finding these at dealers for $25-28 apiece. Try to get an assortment of different themes so they aren't just a bland pile of metal coins. A bunch of ASEs are bland and uninteresting in my opinion.
Do the grandsons even like coins??? if not, they won't take care of it, and in all likelihood, go spend it on the ice cream truck or something. I don't buy things for people unless I'm sure they would appreciate it and actually want it. I would appreciate a thoughtful coin gift, nobody else in my family would though and be like "thanks,,, a coin...." while I'd be stoked to get anything really.
