Gold as gifts

[darkninja1985]

Do people give gold as gifts? I'm looking to start this early for family members, instead of them wasting money they can have something to start out their journey. 

To start off I have chosen to give 1g gold bars

Would be great to hear everyones thoughts on this and if they do a similar thing

[Bars]

Yes have done with 1g bar, but no more than that lol

[darkninja1985]

11 minutes ago, Bars said:

Yes have done with 1g bar, but no more than that lol

Lol I don't blame ya

[JunkBond]

Yes, I have a couple of stacking stepsons, one is getting a half sov the other some silver this Christmas.

[darkninja1985]

3 minutes ago, JunkBond said:

Yes, I have a couple of stacking stepsons, one is getting a half sov the other some silver this Christmas.

Yeah, I have a niece who is 5 and I'm thinking of getting her a 1g Gold bar on birthdays and christmas, hopefully she will get the bug and realise the importance of this rather than being wasteful and buyinh needless things. Wish I had an uncle that would have given me a 1g gold bar every christmas lol

[modofantasma]

Yes different items depending on who though. A mates lad loves anything 007 related for eg the silver bars are ideal there 

[modofantasma]

Pandas make a good gift too with being different each year 

[darkninja1985]

1 minute ago, modofantasma said:

Pandas make a good gift too with being different each year 

Are they of a similar price to a 1g gold bar? I'll probably mix it up a bit in the future.

[Gordy]

i got my daughters small gold coins last year for crimbo.... one is still in china so has only seen a picture of it but loved it, one wasn't bothered and the one still at home loved it... there you go.... 2 out of three aint bad as Meatloaf would say

[HerefordBullyun]

Great presents gold as gifts, so if any of you are feeling generous please bare in mind pooor old bully who only owns one sov, as he's still stacking silver. So feel free to donate a kilo bar or two - to me  during this festive spirit! 😜

Seasoned sausages greetings and  drunken new year!

Best the Bull 👍🐮🎺🎄

Edited November 27, 2021 by HerefordBullyun

[modofantasma]

20 minutes ago, darkninja1985 said:

Are they of a similar price to a 1g gold bar? I'll probably mix it up a bit in the future.

The pandas are silver and gold. The silver is actually 30g rather than 1 oz and in gold they have 1g and 20th oz and up https://www.bullionbypost.co.uk/gold-coins/gold-panda-coin/

[harrygill111]

I love the idea of gifting gold. I much prefer gold or cash to gift cards for myself but do feel it's not the best gift for children (in my family anyway). The wife gets gold/silver in low premium jewellery/art form every now and then - I just think it's better than yet another pair of shoes or another bag plus it makes the shopping experience more fun for me 😁.

We recently recieved 1g of gold during an Indian festival which was a great gift to receive vs a pink bank note. I think gold and PMs works for adults. 

My son, 6, enjoys coins, but he leans to older coins, and I enjoy the history lesson with him. I worry too much about him loosing/damaging bits of gold.

Bits of PM that I 'claim' to have purchased for him mostly just sit in a box at the bank waiting to be sold one day. Which is no fun really and I'm pretty sure the returns are poor given the costs to store. 

Now when asked by friends what they should buy I lean to recommending cash right into the childrens JISA's that are held with Wealthify or HAPI. My wife hates the idea- vs having something to open on the special day.

But for me, I don't have to worry about storing PM's or excess toys and these services help aggressively grow investments over the long term which is much more beneficial for the kids in my opinion.

A wonderful touch, and the point I'm using to convince the MRS is that family/friends can leave video or notes along with the money. These messages are stored 'forever'. 

The kids can watch/read these messages when they come to buy their first car/home or go into higher education. I hope it keeps them grounded and reminds them of all the people supporting them whether they're still here or not. 

I wish my friends and family did this for thier kids vs asking for a plastic batman doll to add to the pile. 

So from my POV - thoughts are gold and PMs are great for adults (with a similar mindset as me) otherwise a good Whisky or Wine tends to work. Coins for kids, not had luck with bars (I'm abit boring and scared of arty bars). Otherwise investing for the long term is surely a winner, though potentially not helping with popularity points in the short term. 👍

Edited November 27, 2021 by harrygill111

[darkninja1985]

59 minutes ago, harrygill111 said:

I love the idea of gifting gold. I much prefer gold or cash to gift cards for myself but do feel it's not the best gift for children (in my family anyway). The wife gets gold/silver in low premium jewellery/art form every now and then - I just think it's better than yet another pair of shoes or another bag plus it makes the shopping experience more fun for me 😁.

We recently recieved 1g of gold during an Indian festival which was a great gift to receive vs a pink bank note. I think gold and PMs works for adults. 

My son, 6, enjoys coins, but he leans to older coins, and I enjoy the history lesson with him. I worry too much about him loosing/damaging bits of gold.

Bits of PM that I 'claim' to have purchased for him mostly just sit in a box at the bank waiting to be sold one day. Which is no fun really and I'm pretty sure the returns are poor given the costs to store. 

Now when asked by friends what they should buy I lean to recommending cash right into the childrens JISA's that are held with Wealthify or HAPI. My wife hates the idea- vs having something to open on the special day.

But for me, I don't have to worry about storing PM's or excess toys and these services help aggressively grow investments over the long term which is much more beneficial for the kids in my opinion.

A wonderful touch, and the point I'm using to convince the MRS is that family/friends can leave video or notes along with the money. These messages are stored 'forever'. 

The kids can watch/read these messages when they come to buy their first car/home or go into higher education. I hope it keeps them grounded and reminds them of all the people supporting them whether they're still here or not. 

I wish my friends and family did this for thier kids vs asking for a plastic batman doll to add to the pile. 

So from my POV - thoughts are gold and PMs are great for adults (with a similar mindset as me) otherwise a good Whisky or Wine tends to work. Coins for kids, not had luck with bars (I'm abit boring and scared of arty bars). Otherwise investing for the long term is surely a winner, though potentially not helping with popularity points in the short term. 👍

Hopefully my Sister (mother to my niece) will see the value of this and hopefully makes sure her daughter will learn the value of this. Hopefully it will help, the fact me and my sister were never really well off growing up. This should, hopefully get my niece in the right frame of mind and make good financial decisions growing up. But I can still always get her a lil gift she can play with too that won't the bank 😉

[Fadeingstar]

I gave my family a 1oz silver coin each last year. Which was a mistake as now my mum has the bug and I am buying and selling stuff on her behalf left and right.

For my niece I have started a collection of gold sovereigns that she will get when she turns 21. She is almost 3 atm so wonder what the gold price will be in almost 2 decades!

Edited November 27, 2021 by Fadeingstar

[darkninja1985]

3 minutes ago, Fadeingstar said:

I gave my family a 1oz silver coin each last year. Which was a mistake as now my mum has the bug and I am buying and selling stuff on her behalf left and right.

For my neice I have started a collection of gold sovereigns that she will get when she turns 21. She is almost 3 atm so wonder what the gold price will be in almost 2 decades!

Sounds like your niece is going to be in a good place when shes 21

[Hunter87]

Some times I get given Amazon gift cards from my Family for birthdays or Xmas so I use them to buy 1oz silver Britannias from Amazon it’s not an ideal situation as they are over priced but in my eyes it’s better to use the gift cards on PM’s rather than buying some c**p that I don’t need. 

[James32]

2 minutes ago, Hunter87 said:

Some times I get given Amazon gift cards from my Family for birthdays or Xmas so I use them to buy 1oz silver Britannias from Amazon it’s not an ideal situation as they are over priced but in my eyes it’s better to use the gift cards on PM’s rather than buying some c**p that I don’t need. 

Not the worst way to spend your gift cards but for future reference , I'd imagine if you put them on here for a fair trade for silver bullion you would get a closer equivalent to the value of your gift cards.

[ArgentSmith]

3 hours ago, Fadeingstar said:

For my niece I have started a collection of gold sovereigns that she will get when she turns 21. She is almost 3 atm so wonder what the gold price will be in almost 2 decades!

When she's 16 and has 50k worth of gold she cant access she's going to hate you 😂

[danmc82]

20 minutes ago, Hunter87 said:

Some times I get given Amazon gift cards from my Family for birthdays or Xmas so I use them to buy 1oz silver Britannias from Amazon it’s not an ideal situation as they are over priced but in my eyes it’s better to use the gift cards on PM’s rather than buying some c**p that I don’t need. 

What coins do you normally get as the price varies massively. £43 for a 1oz SIlver Krug 😲

[James32]

10 minutes ago, danmc82 said:

What coins do you normally get as the price varies massively. £43 for a 1oz SIlver Krug 😲

Well Nathan likes them 🙈

[danmc82]

Just now, James32 said:

Well Nathan likes them 🙈

As long as he's happy 👍 You cant put a price on that 😄

[ArgentSmith]

not a "gift"

[James32]

I'm thinking we should all pool together and sell on Amazon for £40 a ounce??? Bring that moon to us type thing.

[Happypanda88]

12 hours ago, darkninja1985 said:

Do people give gold as gifts?

Of course !  It might be a little foreign in the western culture.  But in other cultures like Indian and Chinese, it is common to give gold as gifts especially for weddings and special anniversaries. Not being snobbish but I think 1g of gold may not go down too well !  😊

[trozau]

I have given gold coins as gift to my nieces and nephews for their wedding (starting in 1990) with the year of their wedding (1/4 - 1/2 troz) Same for my daughter on the year she was married (1 troz). I bought gold coins for my kids with their birth year (1 troz) and have also done so for my grandchildren (1 troz).

Edited November 28, 2021 by trozau