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Replies: 18 / Views: 2,958 |
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Valued Member
Canada
178 Posts |
I have small collection of silver dollars and one gold coin from when I was a kid. If I knew then what I know now, man would I have a hoard. Money wasted on dollar store squirt guns and the likes...  Anyway I got my kids (4, 6 & 8) into collecting coins and PM's about a year ago and they absolutely love it. Allowance usually buys rolls from the bank to search then cashed in and spent on junk silver, maples, or numismatic coins. It adds up really fast. Then when a birthday or similar comes around instead of getting video games, cheap toy and the likes, they get something of true value that they enjoy just as much. Also it is fun hobby that we enjoy together, searching flea markets and the likes for treasures. Plus when an 8 year old that just read the book schools a seller, it's fun to watch. So if you have young ones and they don't collect, get them started it is fun, and financially they will thank you when they are adults. Next step for us is getting a metal detector.
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Pillar of the Community
United States
3670 Posts |
Nothing but a smart plan to get them started early, as if one learns to tie their extra coin up in some small affordable 90% silver or small gold like even 1/25s or something, then they will be well ahead of the curve....
If they can keep adding to the hoard without selling much off along the way, no telling what it could grow to or be worth some day with PMs destine to be set at all new high levels by that time, say 20 to 30 years down the road....
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Pillar of the Community
United States
4333 Posts |
I wish I knew the secret...mine are 8 and 11, I've tried to get them into roll hunting, collecting, and detecting, (some of my hobbies) to no avail. I can't seem to hold their interest for more than 5 minutes. I'd have to throw out the Xbox!
When I listen to LED ZEPPELIN...so do my neighbors... Roll hunting since '77 Dirt fishing since '72
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Pillar of the Community
United States
2269 Posts |
My son is 4 years old and he is getting more interested in my coin collection. When he was born, I started a coin collection for him. Besides coins, I set aside a few silver bars and some silver rounds. I thought since he is only 4, coins might not hold his interest for more than a few minutes.
I decided to purchase coins that depict themes or characters of interest. I am sure he isn't interested in dead Presidents yet, but a British Virgin Island $10 gold coin with a Snoopy and Woodstock reverse is one of his favorites. I can show him Domitian denarius and I can tell he is bored, then when I show him a silver round with a snowman on it, his face lights up. I noticed this with some of my friends children who are a little older. Coins with animals on them seem to always be a favorite.
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Pillar of the Community
United States
4008 Posts |
Quote: If I knew then what I know now, man would I have a hoard. Well, like they say, CP... "too soon old, too late smart"! Still, anyone who is now buying silver and / or gold is WAY ahead of the millions of people out there who never give it a thought of any kind. Because of this, those of us who are awake and aware of the deteriorating world and national economic and political situations have to do more than we otherwise would so that those in our immediate family can benefit from our awareness. Economic disaster is looming and the politicians are still fooling around as if they had all the time in the world to correct these problems. They don't... and neither do we, so keep on stackin'!  Quote: I've tried to get them into roll hunting, collecting, and detecting, (some of my hobbies) to no avail. I hear ya, fist. We all have a problem or two along these lines. My wife has quite a bit of cash in her CU account and we have talked several times about her using part of it to invest in some gold but she won't hear of it. To her, paper is money and no amount of facts that I can give her make a bit of difference to her. If the dollar collapses during our lifetimes, which seems likely to me, she will be one of the millions out there with that "deer in the headlights look" on her face, as the "impossible" happens. Similarly, our daughter is the same way, spends too much, and will not save anything for retirement. I offered to start a Roth IRA for both our kids back in '98. I said that I would match them dollar for dollar up to $1000. This was FREE money that was offered. Daughter rejected the idea immediately because it would COST her $1000. Son grabbed it just as fast, so I am batting .333 in the family. Not bad but a long ways from what I had hoped to achieve. Son is now 37 years old and has $75k in his retirement fund. It is not difficult to tell which of our two kids will retire in comfort and which will be working all her life. I just hate it when people whom I love are confronted by the obvious, refuse my help, and then continue on their course towards financial failure, as if they did not know how to avoid it. 
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Pillar of the Community
Japan
666 Posts |
My 2 year old daughter interested in money for sure ) Didn't give her silver to play with but she likes to delve into her mother's purse and look for coins. Then she throws them out in the room and collects them back. Do I have treasure hunter in my family now?! ))
I tried to turn my wife into collector - no way, she doesn't understand why I am buying gold coin instead of some lens for camera or a new pair of shoes (out of tens) for her. So, may be with daughter I'll get more luck. Trying to explain that money spend on coins are not wasted on consumed but preserved and at the same time shopaholics nature is being filled. Hope one day she will thank me.
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Bedrock of the Community
Australia
21788 Posts |
I must have had an auto.exe file somewhere in my software as a kid. I self started.
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Pillar of the Community
United States
4008 Posts |
Lol, Sel! Some of us are self-booting and some aren't.  Quote: Do I have treasure hunter in my family now?! It sure sounds like it. An early interest like that bodes well for her future as a PM owner and collector. Just do not let your wife train her to be a shopper. That path leads to the Dark Side! 
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Valued Member
United States
73 Posts |
darn I wish my parents helped my hobby, they keep saying you cant eat gold and silver and ill grow out of it.
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Valued Member
United States
134 Posts |
Since I have no children I have been trying to get my niece and nephew hooked on coins. They seem to have a small interest at this time and enjoy looking at different coins with me. I have started a small world coin collection for both of them and plan to try and add to it with them over time.
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Pillar of the Community
United States
2269 Posts |
Today, I took my 4 year old son to his first coin shop. I picked him up a ASE and I let him pick out any one coin he wanted. After a few minutes of looking at all the display cases my son looked at a container of half dollars and said he wanted to pick one out. The coin dealer handed me the container which contained 1964 Kennedy, Franklin and Walking Liberty halves. Out of about 50 different coins my son picked his favorite one, a 1936 P Walking Liberty half. At such a young age he already knows about dates and mint marks. The dealer was quite impressed. Before we left the dealer told my son to pick out a few world coins in the junk bin. My son was absolutely thrilled, he couldn't wait to go home and add these new treasures to his collection. I am so happy my son has such an interest in coins.
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Pillar of the Community
United States
4008 Posts |
Quote: they keep saying you cant eat gold and silver and ill grow out of it. Arrgghhh! My pet peeve rides again! Just tell people who say something as silly as that, "the world is filled with good things that we can't eat, such as cars and trucks, tools, electronics, books, sporting equipment, boots, clothing, land, etc, etc, etc." 
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Pillar of the Community
United States
2168 Posts |
I'm glad I was started early by taking all silver coins and saving them in the 1960s. We also kept wheat pennies as well. We lost interest in actual coin collecting when coinage was clad but still looked for the silver and older pennies. Now I am looking through all change and keeping nickels and pre 1982 pennies just in case! Time will tell with them. Anyway in keeping and searching nickels I started my 3 year old grandchild filling a book
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Valued Member
United States
293 Posts |
I started when I was around 8-10. My parents would go to a local pawn shop / flea market to look around. They had a little coin & bullion area separated out and I would head straight there every time. I mostly bought Mercury dimes (my favorite then and now) at 7x face. If I could go back, I'd definitely tell my younger self to put more money into those coins and less into all of the other random junk that I bought. Should probably still do the same now, but I guess I'll never learn 
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Pillar of the Community
United States
4008 Posts |
Good story, BW. Yeah, learning can be difficult for us sometimes. The good news is that you now KNOW that it is good to buy those Mercs, so get it on! 
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Valued Member
United States
141 Posts |
Nice I started when I was like 5 or 6 with some silver liberty quarters and Buffalo nickels, now at 19 I regret not spending my allowance years ago when the price of silver was much lower. luckily I saved it and have become a silver and gold stacker! When I have kids, I am going to put them on the precious metals allowance system, an ounce of silver a month? or fractionals on a weekly basis.
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Replies: 18 / Views: 2,958 |