Reply to Coins? Investment or just for collection?

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Reply to "Coins? Investment or just for collection?"

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[quote=Anonymous]They are nice gifts.

However, in general terms gold and silver are not particularly good investments. Neither provides you with dividends or interest and the down side is that you have to pay to store it in a safe place.

Similar to your step dad we want to give our grandchildren meaningful gifts that will appreciate over time rather than the most recent fad toys which inevitably end up in the trash heap. So for birthdays and holidays we faithfully contribute to 529 plans in which we've created for each of them.  Grandparent created 529s are especially nice because when kids apply for student aid in college this money is not counted into the equation. Also, because the contributions are made after taxes have been paid there will be no capital gains taxes to be paid when they withdraw the money sometime in their late teens. Our goal is to accumulate enough money to pay for their first year of college.

Having said all that, your step father is to be commended for giving gifts that will appreciate in value and not end up on a scrap heap of broken and forgotten toys. [/quote]

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