Recently I found out that I am going to be a first time Grandma, to a little baby girl. They are professionals, and the child will want for nothing. For that matter, it is almost impossible to buy something for them, so I have gotten stuck just giving them gift cards which seem so impersonal and just promotes consumerism.
What do you give a child that has everything they need and most of what they want? I’ve thought about this and decided that a troy ounce of silver in the form of a coin on birthdays and appropriate holidays will probably be the best thing that I can give both my children and my soon to be grandchild.
- Inflationary Hedge Savings: Back when my kids were born, silver could be bought for $4-$5 an ounce. When they graduated from high school it was going for around $20 an ounce – not a bad inflationary hedge. Imagine the start they would have had moving out and going to college with a collection of 2 to 3 silver coins a year collected for 18 years.
- Savings that are Hard to Spend: When I was young I had a silver coin collection that I just loved and added to regularly. Guess what, one of my sisters took to stealing from my silver coin collection and spending it at the local burger stand for ice cream, etc. I was devastated by the loss of years of collecting. She just brushed it off as if it were just dimes and quarters. A troy ounce of silver is not too spendable. Most, maybe not all, retailers will question an uncirculated silver coin.
- Presents with a Learning Experience: Because I collected coins as a young person, I do understand some of the research and fascination that can go into coin collecting. There is a living history with many coins. Who knows if I don’t come up with silver coins from other countries that the child can turn over and over, not only look at, but perhaps even learn something.
- Prepping the Family: Lastly it is an effort to prep the family. The parents will not take those coins. BUT, what if something horrible does happen – We pray not, but we all know it could happen. My son and daughter-in-law do not believe that anything can ever happen to our current society – end of conversation. Those “dumb coins that Grandma sends…” could someday put food in the belly of their family – just sayin’…