Many people like to start a coin collection for their children, or grandchildren, as a sort of investment for them. These collections are typically held by the parent or grandparent on the child’s behalf, with the intention of giving them to the child at a certain age, or as an inheritance, although sometimes the coins are given directly to the children.
Before you start collecting coins on behalf of your kids, you should take a moment to consider a couple of points. First of all, like all investments, collecting coins costs money, so you need to determine how much you can afford to spend each year for this. Secondly, you must decide what the ultimate goal of this collection is. Are these coins meant to help put the child through college, or are they just meant to be a nice gift that hopefully has some greater future value? Is this coin collection meant as a monetary investment to be cashed in someday, or do you mean for the coins to become family heirlooms which will be passed down through the years? Or perhaps your hope is that the child will take up the coin collecting hobby someday. Depending on what your collecting goals are, and what your budget is, you’ll want to buy different types of coins.