| Author |
 Replies: 17 / Views: 3,083 |
|
Valued Member
United States
158 Posts |
Season's Greetings, all.... Been awhile since I've posted here, so I figured I'd share a bit of hopeful news. For a couple of years now, I've been talking with my grown sons about the economy, etc. and the importance of stashing some PM's for the future. I've been giving them silver bullion every now and then to drive home the point and encourage interest. A few days ago, my eldest son calls me from Florida for advice on buying ASE coins from the local (to him) coin shop. We chatted awhile, and later in the day he tells me he bought ten Silver Eagles for $2.25 over spot from the LCS ! Turns out he's been doing some side jobs in the construction business to pick up some extra $$$ that he can use to buy silver.  With that in mind, I've purchased 40 one-oz. silver rounds, and will give 10 each to the two sons, our daughter-in-law, and even the youngest son's girlfriend (she's a keeper, so I don't mind doing this for her). We're headed to Florida for the holidays - it's going to be a SILVER kinda Christmas ! My late father - God rest his soul - would be proud. He was my mentor, advising me to acquire at least 10% of net worth in precious metals. And he led by example, leaving me with a large stack of Krugerrands when he passed. He bought gold when it was $275.00/ounce, and held it all these years. He also encouraged my fondness for Morgan silver dollars, but stressed the value of bullion as a long-term investment. It seems that at least one of my sons is "on board" now. The youngest is a poor working college student, so I acquire silver on his behalf whenever possible, with the admonishment that it be viewed as a long term investment not to be squandered. Right now he is investing in his education, and I have no doubt he'll get on board as his lot in life improves. So is anyone else giving bullion as a gift this year ? |
|
|
|
Valued Member
United States
148 Posts |
That's really neat to have 3 generations of coin-collectors in your family. I wish my old man and I shared a hobby like that.
|
|
Pillar of the Community
Canada
1723 Posts |
No one else I know seems to appreciate it :-( I cant even get an oz for a bday gift. And I've asked! :-( Thats ok though, I'll do it myself! HI HO SILVER!
im the first in my family to be involved with coins and pms. hope to pass it on to my kids when they are older.
Edited by samsnate
12/03/2012 10:23 pm
|
|
Valued Member
 United States
158 Posts |
@Berk - with us, it's more than a hobby, really. We've been taught to view PM's as a long term investment, and I'm happy the "kids" are on board. With a new grand-daughter to spoil and the uncertain future of the once mighty dollar, I know we're doing right by them. I am curious what my collection of Morgan silver dollars might bring 20 or 30 years from now, but won't lose any sleep over that portion of the hoard - the Morgans are a "hobby", the bullion are "investments". @samsnate - HI HO SILVER, indeed. Just keep buying for yourself whenever you can - it adds up fast. And sorry, I can't adopt you. :)~ Edited by CitizenPatriot
12/03/2012 10:34 pm
|
|
Valued Member
United States
158 Posts |
|
|
Valued Member
Canada
53 Posts |
same here samsnate, solo as well, I may have converted my two cousins over the weekend though. My wife did let me order the $10 dollar gold coin though and I told her the actual cost of it hahaha. I think she is starting to see value.
CitizenPatriot, I liked reading your post. Your son got a great premium on those Eagles! As for gifts, I give silver to my 1yr old, and Brother and Sisters kids.
I do eagles for my sisters family in Arizona, Maples for my brothers kids in Canada, and Perth Lunar for my kid. They are ages 1-5 years of age, I hope this makes a 2nd generation of stackers.
|
|
Pillar of the Community
United States
5825 Posts |
My family don't care about investing in PM or collecting coins either, so I am preparing a database to what I have just in case...
|
|
Pillar of the Community
Canada
1411 Posts |
Anyone know how to get PARENTS on board?
Funny when the kid and grandfather can see it but NOT the middle generation...
|
|
Valued Member
United States
280 Posts |
How I wish I could, but I am still in school, so I have an extremely small budget. I get most of my silver coins as presents and through trades. (The only gold I own is plated over a V nickel and an LMC.) Still, I love throwing a few coins in my brother's stockings each year.=) |
|
Valued Member
United States
158 Posts |
"My family don't care about investing in PM or collecting coins either, so I am preparing a database to what I have just in case..."
This, also. I use Bento on my iMac to track info and photos, plus the kids have copies. There are no secrets at my house, and my kids are thankful.
"Anyone know how to get PARENTS on board? Funny when the kid and grandfather can see it but NOT the middle generation..."
This is a conundrum. Sadly, the so-called "baby boomers" have not experienced the hardships our elders faced, so they don't have that baseline of knowledge to carry them over. We've been so spoiled for so long it is hard to fathom what life was like when they used "real" money. I shudder to think what will happen when the economy tanks and they can no longer watch American Idol......I fear many will perish. I intend to carry on without them.
"How I wish I could, but I am still in school, so I have an extremely small budget. I get most of my silver coins as presents and through trades."
Exactly what my younger son does now. I help him out whenever possible since he is working two jobs and going to school full time - he is investing in his future in a slightly different way. Keep stacking, little by little, and you will have a decent stash when you graduate. As you grow older and more $$$ flows, you can add as needed. Persevere - I wish you the best of luck.
|
|
Pillar of the Community
Canada
1502 Posts |
I started collecting without knowing my mom was a big collector. When I told her about it she beamed and dragged me off to the bank to see her stash locked up in her safe. We were having so much fun she took the lot home for a spell so we can talk about them more. The most memorable of the lot was a silver coin she got for her wedding (a tradition), the small bar of gold she bought herself with her first paycheck, the gold baby bracelets that belonged to my sister and I when we were born (another tradition), and the gold coins my grandma left her when she passed.
We are now both spending way too much money on our collections. It's 4 times as hard to check yourself when there's family egging you on
And yes, she's getting a coin for christmas.
Edited by poboxw
12/04/2012 12:16 am
|
|
Valued Member
United States
234 Posts |
Quote:
Anyone know how to get PARENTS on board?
Funny when the kid and grandfather can see it but NOT the middle generation... I feel my fellow Yns pain, however I have taught my parents a few things and they no longer call my coins old change. thankfully I do have a grandfather who taught me how to hunt and clean animals..also learned how to grow a decent garden talk about work, but it was worth it for the food, experience for SHTF, and the neighbor girl  Edited by StashTreasure
12/04/2012 01:56 am
|
|
Bedrock of the Community
Australia
21786 Posts |
I bought two nice EF Sydney Mint sovereigns of the 1880's on behalf of my kids, about 25 years ago.
Recently, I split about $8,000 worth of silver proofs between them.
This thread has reminded me. Now is the time to give them the gold coins as well.
Edited by sel_69l
12/04/2012 06:55 am
|
|
Pillar of the Community
United States
4008 Posts |
Excellent job, CP. It is not easy to bring others into the PM fold. It is one thing for them to accept a PM gift of some kind but it a whole 'nuther matter for them to take joy in the real value that it represents. Quote:
Sadly, the so-called "baby boomers" have not experienced the hardships our elders faced, so they don't have that baseline of knowledge to carry them over. Many of us "boomers" had parents and grandparents who lived through the 1930s Great Depression, so have heard many stories from them about it. The thick-headed among us will not have learned from those stories while those of us who were taught to LISTEN when adults speak got a great deal from it. Because of those stories, I worked very hard at my chosen career, lived below my income level, saved religiously, and invested wisely. Making that immediate sacrifice for the long-term benefit paid off handsomely when I was able to retire at age 55 in 2004. For me, PMs are my inflation hedge and my insurance against economic melt-down, something that a lot of the so-called leaders in today's world seem to be aggressively trying to accomplish. Whether they do or don't, the security of my family's finances do not depend on their competence. |
|
Pillar of the Community
United States
3843 Posts |
Good job CitizenPatriot. With the Federal Reserve's current monetary policies it is imperative that as many people are informed as possible about the current devaluing of the dollar and how it could impact them. I'm buying my parents some junk silver this Christmas and I believe that I have convinced them to get some PMs as a hedge against further weakening of the dollar. They agree with my bearish opinion of the economy but just needed an extra push to do something proactive about it instead of just hoping for the best.
|
|
Valued Member
United States
158 Posts |
"Many of us "boomers" had parents and grandparents who lived through the 1930s Great Depression, so have heard many stories from them about it. The thick-headed among us will not have learned from those stories while those of us who were taught to LISTEN when adults speak got a great deal from it. Because of those stories, I worked very hard at my chosen career, lived below my income level, saved religiously, and invested wisely. Making that immediate sacrifice for the long-term benefit paid off handsomely when I was able to retire at age 55 in 2004."
This is wisdom, Ed, in its purist form. I got in the game a bit later in life, but I'm happy for you and glad you are secure in retirement. Perhaps I should've made my point a bit differently = the so called Baby Boomers that have not sought out or absorbed the stories of their elders that lived through those hellish times will be among the first to languish when the economy tanks. I find it difficult to be sympathetic for those that refuse to learn the lessons of history.
"With the Federal Reserve's current monetary policies it is imperative that as many people are informed as possible about the current devaluing of the dollar and how it could impact them."
Yet another nugget of wisdom, I believe. Joe, I'd only make one small change in your wording - "how it WILL impact them." My father and I had many, many conversations about this very topic, and I listened carefully to a man that had seen the faces of evil up close and personal during WW II. Now that he has passed, I talk with his 92-year old sister regularly instead. She is a gem, and a wealth of info can be gleaned from her personal stories.
It pleases me to think that this thread has stirred some thoughts from others on the subject. It pleases me even more to know that my shipment from Provident Metals will be arriving soon :) Santa Claus is wearing SILVER this year !
Edited by CitizenPatriot
12/05/2012 09:00 am
|
| |
Replies: 17 / Views: 3,083 |
Posted 12/03/2012 10:22 pm
