Investment in physical objects

Bufger

I havent found a similar topic in here but i'm wondering what other peoples thoughts are in inheritance investment in objects such as valuable coins or precious metals/Diamonds? The kind of things that keep their value over the test of time.

I ask because I have a few Ancient greek coins with the oldest dating back to 500 b.c. A single coin can be worth anywhere from £50 - £3000 depending on its rarity and quality. You can imagine a folder of coins can be fairly small in size and worth a considerable sum!

I'm not planning on going 6 feet under just yet as i'm 28 but i'm planning on leaving my 2 boys some good inheritance in different forms.

And yes the coins are in a safety deposit box and insured

atush

your boys I assume are young. So would do far better if you opened an equity junior ISA for them. That will grow and increase more than your rare coins that can be lost or stolen.

I have nothing against buying coins, or other physical objects. but they are the dessert of the investment world and should be considered only after your starters (ie cash in ISAs, paying off debt) and main course (ie pensions and S&S isa investments, home) have been taken care of.

srcandas

Bufger atush speaks sense. I suspect your motives are emotional, and all credit to you for that, but not logical.

What your boys need is for you to enjoy the years while they grow up (so they can enjoy it to the full). And that happens when you are at one with them, your partner, and your own well being. Then and only then can you equip them best for their journey ahead.

Would I have thanked my parents for stashing a few gold coins for me or would I prefer the memories of those holidays (that pushed their economy) camping in Austria and Italy? Not a tough question

The greatest gifts you can give them are memories (experience if you like) and education, not gold

Bufger

Thanks for your input both.

Perhaps I havent painted the full picture. The primary inheritance would be property. My own house I have a mortgage on but i'm sensible with my finances and any unnecessary expenditure goes towards paying off finances or against the mortgage. We dont live frugaly but any moneysaving done on utilities, phone packages, travel expenses etc goes against the mortgage rather than getting used to the extra cash.

We still get holidays. Perran Sands is already booked for this summer (if we get one!).

I have the coins because I enjoy them. Holding something in your hands thats 2500 years old is very special and when you understand the ancient greek economy, its wars and belief system its fascinating and hopefully something they will also love learning about. Its a bonus that they dont lose their value and are exempt from inheritance tax.

I'm not hoarding away coins and depriving them of anything. We probably still have 1k worth of plastic in the house in the form of childs toys!! heh

atush

Ha, with 3 boys I am sure I had more than 1000 worth lol. Been clearing out the loft lately, and boy are the charity shops happy with me.

Anyway, if you are interested in coins, know their worth and collect them, fine. I collect antiques, and my kids loved looking at them and when younger loved going to auctions with me.

So, why not involve the children in the coin collecting, and setting a few aside for them? Maybe buy some inexpensive ones you can keep int he house for them to look at now and again. Will build those memories.

But I'd open an equity Jisa too as memories wont pay for Uni lol.