Let's Get Your Kids Hooked on Coin Collecting!
Hey there, parents! Looking for a super fun and exciting new activity to share with your kids? How about starting a coin collection just for them? Not only is it a blast, but it can actually be pretty profitable too. Loads of parents love building up a coin gallery to pass down to their children, and even generations after that. Imagine the thrill of showing your little ones what money looked like way back when!
Coin collecting can totally be a smart investment. Seriously, some coins passed down through the family are worth way more than a hundred-dollar bill today. It's a really cool hobby, but before you jump in, here are a couple of friendly tips to keep in mind:
How much cash are you comfy spending on old coins? Remember, a coin collection isn't just about old pennies. We're talking about really, really, really old currency, sometimes from ancient times. That means they can be pretty expensive and literally centuries old.
What's your main goal for this collection? Is it for gifts? An investment? Just a fun hobby? You'll want to decide if this collection is going to keep growing for years or if it might eventually stop at some point in your child's life.
Let's Talk Budget
For starters, let's chat about kicking things off with a super tiny budget, like $50-$100 a year. With that kind of money, you can grab a few different types of coins. For example, Mint sets usually won't cost more than $100. A fancy Silver Proof set is about $40, and an Uncirculated set is around $25. You can totally hop online and search for coin prices that fit your budget without breaking the bank.
Getting Your Child Excited
Okay, getting your child hooked on coin collecting as a hobby might seem a little tricky, but it's totally possible! All you need to do is show them how cool and beneficial it can be. There are some awesome coin types your child might really get into, like Buffalo and Jefferson Nickels, Mercury Dimes, Wheat Cents, Roosevelt Dimes, and Indian Head Pennies. Start by showing them these, sit down together, and tell some short, fun stories about each coin. This can really spark their interest!
Keeping Your Collection Safe
No matter why you're building this coin collection – whether it's a family heirloom, an investment, or just for fun – you've gotta make sure it's safe for everyone. Planning to stash your precious heirloom and investment coins at home? Bad idea! That's just asking for trouble, honestly. Your best bet is to get a safety deposit box at the bank and keep them secure there. Only you (or a trusted few) should know where they are.
If your kids are actively collecting coins, make sure their collection is stored in a safe spot where guests or strangers won't easily see it. And if your child eventually loses interest in their collection, it's a good idea to just deposit their coin album at the bank. Never, ever leave it just sitting in a drawer – burglars know these are super easy to sell. Always teach your child how important their coin collections are and tell them to keep those folders out of sight, especially when people are around.
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