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pocket money on Gold?


Fluttershy

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I`v been putting the kids pocket money away in a kids "high interest" savings acct at the building society, turns out the interest rate they HAD is no longer there :(

I`ll not rant about the mean b*****s now stealling money from kids.

 

so I thought, how about take their money out and put it into Gold Sovs, and the change into Maples.

that way it will at least track inflation and it can`t be stolen from them at about 2.5% a year (or wahtever the current inflation rate is).

 

I consider Gold to be a bit safer (more stable) investment than silver but Please! correct me if I`m wrong.

 

so Mommy will do all the Silver and the kids will do the Gold :)

 

I need to do Something to protect them, they have non trivial amounts of cash in there, and it`s being stolen!

 

all good input appreciated :)

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I suppose it depends how long you'll hold it for. Is it kept until a certain age or could it be on demand for something they need immediately? You could potentially still have a loss if needing to sell? I'm not sure how patient I was as a child when I neeeeeded something.

I'm going to guess that yours are young though.

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5 and 9.

my 9 yo daughter spends all hers on ice creams everytime the van comes, despite my advice on investment. my 5 yo Son likes the metal more :)

I could keep Some fiat for them, or maybe offer a "Buy back" service for them, and when she sees she has less coins than her little brother the idea might kick in then?

I know that Gold byback is always closer to spot than silver ever is, so you lose a lot less in the spread, that`s why i thought of Sovs.

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I am new to this game, having just invested in first coins this summer, but I did show my teenage kids a stack of 10 new sovereigns I got and when I mentioned that each little coin was worth around £190 they did seem interested! But honestly Fluttershy - I would probably suggest putting 50% of the cash in a shares ISA with high dividend, and buy Sovs with the rest!

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Fluttershy - how much fiat are you talking about and how much will you add per annum ?

My suggestion is to buy a proof sovereign each year of issue starting with their year of birth.

If the proof is ~10% above spot that is good but otherwise look to UNC bullion coins and get a nice box that holds 10 at least.

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