Sure, you can give cash or gift cards as holiday gifts. But doesn’t everyone do that? Why not unwrap a more rewarding gift-giving spirit by wrapping up gold or silver coins for your loved ones?
“Frankincense and myrrh aren’t setting the commodities markets on fire, but gold is in high demand—as both a Christmas gift and [an asset]—for the second mid-pandemic holiday season in a row,” Quartz reports.
Here, we give you a gift: a five-step guide for how to gift coins to a loved one.
1. Make a List (and Check It More Than Twice).
First, make a physical or digital list of the loved ones who’ll be receiving holiday gifts from you. Then, decide which people will receive coins and which ones might receive other types of presents. Whoever you choose, you’ll be contributing to those loved ones’ financial futures with the gift of gold or silver coins.
2. Settle on Who Will Receive Which Coins.
As part of your list-making exercise, figure out what types of coins your chosen recipients will receive. For instance, you might want to give your young grandson a silver (and lower-priced) bullion coin but your older daughter a (higher-priced) gold bullion coin.
There’s no right or wrong choice. Pick coins for recipients based on factors such as:
- Your holiday budget. How much can you allocate for coins vs. other gifts?
- The personal preferences of the recipients. Who would most treasure the gift of a gold or silver coin? And certain recipients might enjoy certain coins. For example, your history-loving son might appreciate a gold coin with historical significance, and your budding pianist might appreciate a coin with a musical design.
- Your personal preferences. Do you prefer one precious metal over another? Or perhaps you have an affinity for a particular country because of your heritage and want to pass on that passion through the power of precious metals. You can source gold and silver coins from a variety of national mints.
Consider that in the early modern period, it was “an enormous feat of diplomacy to ensure that everyone was given the appropriate gift,” CoinWeek reports. Coins were minted in various metals and weights to coordinate with a person’s status and social importance. This way, the coins could be “graded precisely, and their [importance] could be measured exactly.”
3. Choose a Reputable Precious Metals Company.
Coins are special gifts, so you don’t want to buy them from just any business you find online. Instead, it’s best to do business with a highly reviewed, reputable coin distributor with the knowledge and experience you can rely on.
4. Shop for the Right Coins.
Here’s one of the fun parts: shopping for coins. Once you’ve picked the precious metals distributor, it’s time to decide which coins to buy. But the decision could be challenging. After all, there are numerous choices. Here are a few coins to consider:
- Pearl Harbor Gold Coins: These coins are a great choice for the history buff in your family because they pay tribute to the attack on Pearl Harbor in 1941. They can be an even better option for the relative who served their country in the military.
- Gold American Eagle or Gold American Buffalo Coins: These coins are perfect for the loved one who’d appreciate a beautiful, classic U.S. coin.
- Austrian Philharmonic Gold Coins, Canadian Gold Maple Leaf Coins, or South African Krugerrand Gold Coins: Chances are, someone in your family is a geography and travel fan. These foreign-minted coins can be a smart pick for the international traveler in your life.
- Silver American Eagle Coin: Does your sister want another bottle of perfume or another gift card? Probably not. So why not spice up the gift-giving this year by surprising her with a Silver American Eagle coin? It’s a classic and has been popular ever since its first year of issue in late 1986.
5. Give the Coins!
You’ve bought all the coins for your loved ones. But you can’t, of course, just hand the coins to them. Such gifts deserve to be given in style. Therefore, it’s time to put your creative thinking cap on.
What about putting a coin in a small safe, wrapping the safe in gold or silver paper, and giving your recipient the pass code to the lock in a Christmas card? Or maybe you can couple a coin with a coordinating gift—a Pearl Harbor Gold coin paired with a book or movie about the Pearl Harbor invasion, for example.
This step is also the perfect opportunity to educate the recipient on proper coin handling and storage.
However you wrap and give these coins, you can be assured that your loved ones will appreciate your generosity and that you’ll feel joyful because you’re adding to your loved ones’ financial legacies.
The best gifts leave a legacy that lasts long after Christmas morning. Order your gold and silver gifts today. Call U.S. Money Reserve for help selecting the right coins for your loved ones.