Give the Gift of Wealth-Building with These Three Ideas – Rogue Economics
As we near the holiday season, you might be stuck on ideas for stocking stuffers to more elaborate gifts.
One thing to consider as a holiday present is something that I like to call an investment gift.
What do I mean by that?
Well, for many years I’ve been the aunt that gives investment items to my niece and nephews.
Today, I’m going to talk to you about three of these items. Perhaps they’ll give you some ideas for similar gifts.
The idea here is not to give money in the form of cash, but to add lasting value by sharing time, as well as the learning process of investing.
Over the years, these sorts of investment gifts can help be the foundation of a lifelong financial education.
And yes, they can even create a little bit of wealth for your family members as well.
1) Gold or Silver Coins
As longtime readers know, I give silver dollar coins to my niece and nephews as birthday gifts. That goes for holidays, too.
I’ve been doing this since they were one year old. Over time, our related conversations and interactions have deepened.
So every year, I buy a particularly interesting silver dollar coin for each of them.
When they were much younger, I’d give them to my siblings for safekeeping. But as they got older, it was more of a direct gift that has evolved over the years.
For instance, my niece decorated her own piggy bank to house these silver coins. My nephew used to put them in various Lego structures he built, but now, he keeps them in his sock drawer.
The point is, as they’ve gotten older, the coins represent more than a gift or their intrinsic value.
For example, they were blown away when I explained that a $1 silver coin is worth more than $1.
Indeed, a Silver American Eagle coin contains 1 troy ounce of fine silver. It is the official bullion coin of the United States. It retails for around $24.
Coins offer a good way to talk about history, too.
A Thomas Jefferson coin invites a discussion about the Declaration of Independence, while a George Washington one can start a conversation about the American Revolution.
I choose coins that I can buy directly from the U.S. Mint. The Mint has catalogs of coins and provides accreditation certificates for them.
Coins arrive in lovely blue boxes that make holiday gifts even more festive. You can check them out for yourself on the U.S. Mint website.</…….