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!