My oldest daughter and I have been waiting for today to arrive for some time now. We have an annual tradition together that we had to postpone to later in the year due to the pandemic.
My Oldest Daughter's Favorite Animal Is The Panda Bear
For as long as I can remember, my oldest daughter has been fascinated with panda bears. She particularly enjoyed our visit to the National Zoo in Washington, DC, a few years ago. Usually, the little cubs are reserved and out of sight, but on that day they were active and on full display.
When she was younger, she would draw pandas and play with stuffed panda bear, but as she has grown and matured the ways she interacts with the famous black and white bears have changed as well.
Moving From Observer To Participant
The first time I told my daughter about the Silver Panda coins, she was immediately interested.
Parent Pro Tip #1: When teaching your kiddos about investing, connect them with something they like or are already familiar about.
For the last 3 years, she has chosen to invest some of her money into buying a single coin. She is willing to consistently invest because she has a genuine personal interest, and she has a understanding about the risks and rewards using her money in this way.
Parent Pro Tip #2: Encourage regular, consistent investing.
Supply Issues
It was a bit challenging to get our order made this year. Usually, I can pre-order the coins in January, but this year my favorite place to make purchases (ProvidentMetal.com) did not have what I was looking for until about a month ago.
But when the 2020 Silver Pandas were available, my daughter and I were both ready. Like I said, this has become a tradition for us.
Parent Pro Tip #3: Learn to talk with you kiddos about investing. Talking about using money wisely should not be taboo. Parents who are open to talking about money wisely will help their children be prepared to use money wisely.
I can only assume that the pandemic had something to due with the delay. Perhaps ...
- Production was delayed due to the pandemic.
- There were unique logistical issues due to the pandemic.
- There was an increase in demand due to the pandemic.
Regardless, our package finally arrived. My daughter will be very excited when she comes home to find her newest coin.
My Collection Is Growing
I try to buy a few of each coin each year. As of today, my collection includes coins from a total of 7 years including 2013 and 2015 through 2020.
One of the interesting things about Silver Pandas is that buyers can enjoy a unique design each year. I also like how each coin is shipped in an individual coin capsule.
2016 was the last year that the Silver Panda was offered as a 1 oz coin. Starting in 2017, the Chinese Mint reduced the size of the coin to 30 grams.
Parent Pro Tip #4: Teach your child how to handle and protect their investments (coin capsules, safe storage, etc)
Time Is Your Child's Greatest Resource
For many of us, we may feel like we have missed the mark on investing. In order to catch up to our goals, we will need to invest more money than we can afford to do so at this time.
With our children, time is their greatest advantage. Regardless of the type of investment (physical assets, stocks, crypto, etc), time is on the side of our children.
Pro Time #5: Reinforce the power of making wise investment decisions while being young.
Final Thoughts
What happens today is not life changing for myself or my daughter, but I hope that these small steps lead to something great.
We have to be disciplined in the moment to enjoy the fruits of our labor in the future.
I want to hear from you.
- Do you talk to you children about precious metals?
- Have your children ever invested in precious metals?
- What silver coin would you recommend to a new investor?
Thanks for stopping by!
I love the tips you've added throughout this. My daughters also have silver and gold, but my youngest took a bit more interest and has more personally than my eldest. I could maybe have used your tips sooner! 😅
Physical silver was getting harder to come by even before the pandemic, but I think it certainly compounded the issue. Apparently there are more people wanting to exchange their paper silver for physical and as that outnumbers the physical it's causing a shortage. Glad you finally got your pandas!
Thanks for the feedback about the tips.
My oldest is definitely more interested in precious metals at this time. There are several factors in play. I will keep encouraging my other kiddos to consider investing some of their own money as well.
As parents there is an interesting balance between wanting to invest on behalf of our kiddos and teaching them how to invest themselves. Still a work in progress, but one I enjoy greatly.
And with that shortage the price has gone up. That is both good for those of us who have a bit of a supply, but hard for new people wanting to get in for the first time. Another great life lesson - supply and demand
!ENGAGE 25
ENGAGEtokens.Thanks for sharing the good ideas, sumatranate. Any Silver coin is a better gift than an imported stuffed animal, in my opinion.
Definitely better. I want my kiddos to acquire things that they "won't grow out of." All kids like toys now, but in the future they will understand that many of their toys don't mean as much as they use to.
Thanks for stopping by.
Parent UN-Pro tip #6 Do not try to explain the difference between Keynesian and Austrian Economic Theories to a 14 year old, your head might just explode. 😵 In the event that your 14 year old can teach you the difference between these economic theories, your head may explode anyway as she accepts the Nobel peace prize for Economics.🏆
A parent could dream.
You made me dizzy just reading your comment :) I like the idea of UN-Pro tips.
I am just going for the basics, but I would be a proud pappa if one of my kiddos was able to explain and apply more complex ideas and theories.
As parents we all dream. The hard part is making sure that we don't push our dreams, but rather teach our kiddos how to dream big and then live it out.
Thanks for stopping by!
You made me dizzy just reading your comment :)
I am just going for the basics, but I would be a proud pappa if one of my kiddos was able to explain and apply more complex ideas and theories.
As parents we all dream. The hard part is making sure that we don't push our dreams, but rather teach our kiddos how to dream big and then live it out.
Thanks for stopping by!
I didn't mention Honorsry tenure at Harvard University as well?
If I had a child, I'd certainly talk to here about precious metals!
I would recommend any government mint coin.
Stack on! 🥰🌺🤙'
There are some great government mint coins out there with great designs.
Keep staking.
That's great that you and your daughter collect the pandas together, I always stress the importance of the metals with my kids and buy for the grandkids too!
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Thanks for stopping by and leaving. My hope is that I can transition her more easily to other assets since she has some experience with precious metals (tangible assets). She has a few other siblings that I am trying to help out as well. They are not as onboard yet. Just trying to find that connection that makes it real to them.
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