You want to set your kids up with every advantage. Starting a savings account, education fund, or long-term investments for them right away will give them a big leg up in life. Giving your child an education fund gives them options not everyone gets to enjoy.

For some families, they have to make a tough decision between saving for their own retirement and saving for their kids’ education. If you have the money to do both, get started earlier and you can let time do more of the work. You should also know that most financial advisors don’t suggest saving the full costs to go to college, but aiming to cover a third, with the rest covered by financial aid, scholarships, and income from both you and your kid.

Invest in Silver for the Long-Term

One great way to buy into an asset that appreciates best over the long-term is buying silver. Silver goes through long economic cycles where prices can lie dormant for years before booming. Buying at the right time makes it an excellent, safe store of value that can quickly turn into a boon when the market cycles into a period of higher activity. These periods can also last years. The price movements are considerable, but you have to wait. When you’re investing for your kids, time is on your side. 

Types of Silver Coins

What kind of coins are out there? For kids, you can find some amazing colorized coins featuring Disney stars like Elsa from Frozen or Merida from Brave. These are excellent if you want to give silver coins as gifts that can be saved and have real worth down the road.

If you want something practical that will appreciate in value well, any bullion coin is considered an investment-grade product, including American Silver Eagles, Canadian Maple Leafs, and Mexican Libertads (Mexico is the world’s largest silver producer and an important international source of the metal). For historical value, U.S. silver dollars are always a popular choice.

There are also plenty of lines of collectible coins featuring beautiful art. National mints often produce series based on important wildlife or historical moments, as well as pop culture, and you can also find them from private refiners.

Coin Conditions

As you shop online, you will notice in most listing something called “condition.” This will affect the collectible value of the piece. Here’s a quick guide to conditions that will help you understand what you’re buying:

  • Poor: damaged and difficult to identify.
  • Fair: No damage and identifiable, but almost worn smooth.
  • Good: Badly worn in such a way that inscriptions may run to the rim, with many of the major details damaged.
  • Very Good: Considerably worn, but evenly, and most design remains bold.
  • Very Fine: Only moderately worn.
  • Extremely Fine: The finer details remain bold and it is hardly worn.
  • About Uncirculated: Though there may be slight traces of wear, it is still highly appealing. Very Fine About Uncirculated has almost full luster.
  • Mint State: potentially referred to as Brilliant Uncirculated, from before the numerical Sheldon Scale was introduced. There are several stages of Mint State on the Sheldon Scale including basal (poor quality with a subdued luster or hairlines), acceptable, choice, premium, almost perfect, and perfect (no microscopic flaws, bright, and rare).

Precious metals are a sound way to invest for your kids’ future. Understand what you’re buying and make sure you’re letting the money do the work.