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maybebaby
LIF Adult
Member since 11/05 6870 total posts
Name:
Maureen
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My father gave my son a gold coin worth $2300..
..I have no clue what to do with it.
I know nothing about the value of gold and what is worth doing. Meaning, hold onto it and just follow the price of gold? Put it away for years until he can do something with it that he wants???
He plans on giving him a coin every year for a collection.
Anyone have advice? I have never collected coins and don't plan on starting, lol, just want to be smart with this "investment".
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Posted 4/3/11 9:21 PM  |
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Christine
2nd verse same as the 1st
Member since 5/05 15287 total posts
Name:
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Re: My father gave my son a gold coin worth $2300..
I would keep it some place safe for when your son is old enough to decide what he wants to do with them.
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| Posted 4/3/11 9:28 PM |
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maybebaby
LIF Adult
Member since 11/05 6870 total posts
Name:
Maureen
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Re: My father gave my son a gold coin worth $2300..
Posted by Christine
I would keep it some place safe for when your son is old enough to decide what he wants to do with them.
This is what i was thinking...I just had second thoughts about it cause the very little i know about gold, i just wouldn't want it to go down so much that it loses so much money KWIM? But i guess i can just put it away and hope years from now it has at least the value it does now??
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| Posted 4/3/11 9:31 PM |
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nrthshgrl
It goes fast. Pay attention.
Member since 7/05 57538 total posts
Name:
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Re: My father gave my son a gold coin worth $2300..
Posted by Christine
I would keep it some place safe for when your son is old enough to decide what he wants to do with them.
I agree. I'd also consider adding it on to your homeowners.
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| Posted 4/3/11 10:06 PM |
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Goldi0218
My miracles!
Member since 12/05 23902 total posts
Name:
Leslie
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Re: My father gave my son a gold coin worth $2300..
That would go right into safe deposit box.
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| Posted 4/3/11 10:10 PM |
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Re: My father gave my son a gold coin worth $2300..
Posted by Christine
I would keep it some place safe for when your son is old enough to decide what he wants to do with them.
i would do this as well.
he'll have some collection when he's older!
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| Posted 4/3/11 10:16 PM |
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Andrewz00
Look! I changed it!
Member since 4/10 1789 total posts
Name:
Andrew
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Re: My father gave my son a gold coin worth $2300..
i would get it appraised/graded... if its done professionally they will seal it in a plastic holder with a grade.... after that you can consider getting it insured and maybe placing it in a safe deposit box...
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| Posted 4/3/11 10:32 PM |
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maybebaby
LIF Adult
Member since 11/05 6870 total posts
Name:
Maureen
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Re: My father gave my son a gold coin worth $2300..
Posted by Andrewz00
i would get it appraised/graded... if its done professionally they will seal it in a plastic holder with a grade.... after that you can consider getting it insured and maybe placing it in a safe deposit box...
My dad actually ordered it through a catalogue. It came encased in a plastic holder and we have the authenticity certificate/all documents which is good!
It's just such a random gift, lol. I am appreciative...but if anyone knew my dad...you don't hear from him for months, doesn't ever remember a bday or holiday then he shows up with an expensive coin. Lol. Just trying to do the right thing and not let it lose value!
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| Posted 4/4/11 8:37 AM |
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imagin916
LIF Adult
Member since 6/05 1826 total posts
Name:
Valerie
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Re: My father gave my son a gold coin worth $2300..
Posted by Goldi0218
That would go right into safe deposit box.
ITA
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| Posted 4/4/11 9:01 AM |
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CrankyPants
I'm cranky
Member since 7/06 18178 total posts
Name:
Mama Cranky
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Re: My father gave my son a gold coin worth $2300..
Make sure he doesn't swallow it
I agreee safe deposit box.
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| Posted 4/4/11 9:28 AM |
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8ternity
<3
Member since 11/08 10586 total posts
Name:
Formally NYPD-Wife
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Re: My father gave my son a gold coin worth $2300..
My grandpa gave all his grandkids gold coins when we were younger. Since Gold has been extremely high I cashed it in. My mom had it saved in a safety deposit box for all those years.
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| Posted 4/4/11 9:32 AM |
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DGoldfarb0776
LIF Adolescent
Member since 4/08 767 total posts
Name:
Danielle
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Re: My father gave my son a gold coin worth $2300..
Posted by Andrewz00
i would get it appraised/graded... if its done professionally they will seal it in a plastic holder with a grade.... after that you can consider getting it insured and maybe placing it in a safe deposit box...
I was going to say this same thing- especially given the current value of the coin. I would also then add it onto your homeowners policy or put it into a safe deposit box.. what I would also do though is take him to the deposit box to see how his collection is growing each year. Then when he's old enough he can decide what he wants to do with them.
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| Posted 4/4/11 4:34 PM |
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AngnShaun
Sisters
Member since 1/10 21015 total posts
Name:
Ang
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Re: My father gave my son a gold coin worth $2300..
Posted by CrankyPants
Make sure he doesn't swallow it
I agreee safe deposit box.
my nephew swallowed a nickle a few weeks ago...
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| Posted 4/4/11 4:35 PM |
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browneyedgirl
family is all that matters
Member since 6/06 6513 total posts
Name:
browneyes
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Re: My father gave my son a gold coin worth $2300..
why in the world didn't he just give him cash for savings or college? only your dad
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| Posted 4/4/11 8:23 PM |
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