BUILDING A SILVER DOLLAR COLLECTION WITH YOUR CHILD



Do you remember receiving your first silver dollar as a child? Whether it came from your grandparents or the tooth fairy, almost every adult can recall the silver dollar collection that they had as a child and the joy that it brought them.

If you have thought about passing this joy along to your children, it is easier than you might assume to build a silver dollar collection together. Although many believe that silver dollars are incredibly expensive as a result of the investor interest in them, this is not entirely true. There are some rare mintmarks, years, die variations, and mules that can make a silver dollar incredibly expensive; however, there are many common date coins that are available for less than $20. For some parents, this may still seem like a big investment; however, many are discovering that they can create a college fund for their children from their collection of silver dollars. Every child has a collection of some kind, to which your money is being diverted in a useless manner, holding no value to them as adults; silver dollars bridge the gap between the child’s desire to collect things and the parent’s desire to spend money only on those things that are worthwhile. Instead of getting thrown away as an adult, the collection is either cherished or used as a college fund or nest egg.

In a world of high-tech educational toys, many parents appreciate the simple lessons that children learn through a collection of silver dollars. Silver dollars teach your children about art, history, and patriotism; however, it is more stimulating by providing the challenge of researching, rather than simply presenting them with facts to commit to memory, as many toys today seem to do. It is fun for the whole family to work on a silver dollar collection together, and parents delight in their child’s happy face when they receive a new piece to add to their collection, research, and learn about. Many parents also appreciate the lessons about the value of money that are offered by such a collection, as children must build a “coin budget” to determine how many and what types of coins they can afford, as well as the responsibility that comes with holding a piece of history. Silver dollars are the educational answer to childhood collectibles, imparting many lessons and accruing a great deal of value that beanie babies, race cars, Disney figurines, and Barbies simply fail to do.

 

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