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 Replies: 17 / Views: 3,455 |
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Pillar of the Community
United States
730 Posts |
Almost 9 years ago my first grandchild was born, and like a lot of coin collectors I decided to gift him with something of numismatic relevance. I gave him a 5 ounce America the Beautiful coin for his birthday and another for Christmas. Then came grandchild #2, #3, and #4, and I've continued the practice for each grandchild. It used to cost around a hundred dollars per gifting and I was o.k. with that, but now with the pandemic and the attendant increase in seller margins it's getting pretty pricey. I don't object to the increase in the price of silver and correspondent increase in the cost of these coins, but what I do object to is huge markup sellers now charge. I'm thinking of perhaps going to another, less expensive form of silver that would still total 5 ounces of silver. If not I'll probably give then a handsome steel engraved portrait of our first postmaster general.
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Moderator
 United States
189222 Posts |
That is a shame. Hopefully your grandchildren are old enough to understand the situation. Maybe next year prices will settle back down to normal.  |
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Pillar of the Community
 United States
730 Posts |
I just reread my post. I didn't make myself entirely clear. I have 4 grandkids (a last one might be in the offing) and I give them a 5 oz ATB coin for their birthday and Christmas EACH year. So, at present, I'm buying 8 5 oz ATB coins a year. |
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Moderator
United States
189222 Posts |
Understood.  |
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Rest in Peace
United States
18456 Posts |
Yes that can be extremely pricey but don't feel bad if you can no longer afford 5 once coins . Simply start giving them one or two once generic rounds or bars , they'll still love you .  |
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Pillar of the Community
United States
4333 Posts |
What you are seeing is the actual price of physical silver, not a mark up. Spot is the hedged paper silver price. I haven't been buying since last spring when spot dropped to $12.
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
730 Posts |
Why was the percentage difference between "physical" metal and "spot" a lot narrower before? Theoretically, can't one purchase a contract at spot and take delivery at that price? I wonder what the Mint charges authorized resellers for bullion coins. That would give one a definitive idea as to what the markup is.
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Pillar of the Community
United States
2243 Posts |
I don't know much about paper versus physical, but premiums are very high now, supply/demand? I too give silver to my 6 going on 7 grandkids, 1oz silver generic rounds and worn Morgan/Peace dollars.
Edited by livingwater
07/02/2021 8:38 pm
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Bedrock of the Community
Australia
21788 Posts |
I am a grandpa and I have been priced out of the World junk silver market, after being active in this area for 3 decades. Stopped when I thought I was priced out about 5 years ago. At least, I still have all that I managed to pick. Most are pre WW2. They are no longer junk silver, but form a legitimate numismatic collection of silver coins in their own right. All originally bought as bargains in terms of best value for money. If I sold this part of my collection, there would be a very considerable profit, even against inflation. I will give this part of my collection to my grandson - he can do what he wants with them, but I hope he keeps them, even if he doesn't become a coin collector. Now, I have actually considered starting a zinc stash  , because sooner or later, the value of zinc in a Zincoln will be above one cent. That's weird. in the meantime, my tactics have changed. I now look in junk boxes for World base metal coins in EF or above condition produced before WW2, that also happen to be numismatically interesting. Already have about 200. I have reconditioned my numismatic vacuum cleaner and it is working quite nicely. |
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Pillar of the Community
United States
5832 Posts |
I just became grand-pa 9 months ago, too young for my grandchild to appreciate coin at this time, figure by age 2 he can understand about coins?
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Pillar of the Community
United States
2243 Posts |
I also buy an ASE in the year the grandkid is born. I keep it til they are old enough to understand and give it to them. I buy it slabbed so they can't spend it!  Edited by livingwater
07/03/2021 09:53 am
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Moderator
United States
54282 Posts |
You are not obligated to give each grandchild these generous gifts FOREVER.
Show your financial support of the Coin Community Family (click here)See my topic on Mexican Numismatic Medals (click here) |
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Pillar of the Community
United States
3343 Posts |
This idea will price grandpa further out..... In the past, parents/grandparents gave children a silver mug. I'm old enough to have gotten a silverplate baby mug. But in the 19th century the mugs were more substantial and made of either coin or sterling silver. They typically held a cup of liquid and weighed 4-6 ounces empty. Here's an example of a lathe-spun Vanderslice mug made in San Francisco. San Francisco silver manufacturing ended with the depletion of the Comstock and Cerro Gordo deposits, and was about over by 1880. Gorham made a lot of these mugs too. https://www.ebay.com/itm/293140597139?LH_BIN=1They seem expensive, but compared to solid silver bowls and trays they're pretty cheap and easier to find. "Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
07/04/2021 5:17 pm
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Valued Member
United States
493 Posts |
I don't give them anything anymore, and I used to, I've never seen such spoiled children in my life, they have 100X the toys I ever had, parents buy them cars, they don't leave home when they are 18, or they drop out of college, then move back in while they go through a sex change operation.
When I was 14 my Mother was renting me out to the farmer to bale hay all day long to buy food so we could eat.
I'm not gifting silver anymore so it can be sold to get purple hair coloring.
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Bedrock of the Community
United States
10284 Posts |
I quit gifting to my grandkids. I don't even get a thank you from them. Spoiled terrible. They will be surprised when the will is read.
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Bedrock of the Community
Australia
21788 Posts |
Your grandkids most probably won't have the slightest interest in any collector coins you may gift them in your will.
That is what I am expecting, but
that in not my point.
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I have not gifted anything to my grandkids. What happens to them is up to their parents. Their kids are their responsibility, my kids are my responsibility.
My kids, as joint executors will pick out any coins from my collection for themselves to approximate equal value and send the rest for public auction.
The remainder of my collection may well bring over $100,000 at auction. Fortunately, my kids have always been in friendly agreement with each other - and both of them have some interest in keeping part of my collection for themselves. We have discussed this on a few occasions.
They are also my joint Enduring Guardians (in case I go ga-ga), and Powers of Attorney. We let them write our wills in front of a legal officer, in a family meeting.
If my kids wish to gift my coins to my grandkids (when they are old enough to understand coin collecting), as family heirlooms, that is up to them. I will have long since kicked the bucket.
Edited by sel_69l
07/15/2021 01:39 am
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Replies: 17 / Views: 3,455 |
Posted 06/30/2021 4:22 pm
