PDA

View Full Version : Don't give children silver coins



TomAlciere
19th April 2008, 18:41
Don't give a child a silver dollar as a First Communion present. Children lack the understanding of sentimental value that adults have, for an uncle or aunt's gift. They might understand that silver is "worth more" but dealers won't buy from children, so the coin will be spent as money. Give them a $2 bill or an Eisenhower dollar, nickel-copper Kennedy's or Presidential dollars worth no premium but still perceived as "special".

paker
19th April 2008, 19:51
I agree. I don't remember how many 1800's Morgan silver dollars I blew for junk when I as a kid.

FedFixNix
19th April 2008, 20:35
Don't give a child a silver dollar as a First Communion present. .

Sage advice.

JesterJay
20th April 2008, 17:42
Looks like "some" people's kids need a little oversight to me.
I have given MY kids silver and explained the VALUE of silver.
They all understand, from the 22 year old who occasionally acts like she is 10 to the 10 year old who sometimes thinks he is 22, that silver in ANY form is more than something to be spent on a whim or a wish.
Silver is what they own instead of a "savings account" at the bank.
They know the value of a dollar!
JesterJay



Sage advice.

Trevallion
20th April 2008, 20:08
As a kid, when me and my brothers would receive special coins as gifts, we each had a "special" piggy bank just for the special coins. Not all the coins were worth $$$. But anything that was not the regular coinage (quarters, dimes, nickels, pennies, or bills) we put into the "special" piggy banks. I still have some of these coins and although not all of them have silver content, they still have sentimental value. And I do the same thing with my children now, while trying to instill in them the value of PM and saving money in general.

But I do agree that if you know that child is just going to spend that coin and not appreciate the value of it, or that the parents are going to let them blow it, then no do not give children silver or any other PM until they know what it really means.

TomAlciere
22nd April 2008, 06:24
But I do agree that if you know that child is just going to spend that coin and not appreciate the value of it, or that the parents are going to let them blow it, then no do not give children silver or any other PM until they know what it really means.

What value? It just sits there. They can't sell it because dealers won't buy from minors. It's like a savings bond for their college education. They can't appreciate it because it has no enjoyment value.

JesterJay
22nd April 2008, 15:36
You assume quite a bit there, Tom.
My 10 year old takes great pride in ownership of silver. Cool Special coins on down to bullion junk. He even chose to take a small percentage in GOLD. He has an eye for value, I must say!
Some kids wouldn't,
JesterJay
PS Some dealers would buy from minors. Or unscrupulous "others".



What value? It just sits there. They can't sell it because dealers won't buy from minors. It's like a savings bond for their college education. They can't appreciate it because it has no enjoyment value.