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Writing a note for kids re silver

ErrosionOfAccord

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#1
I'm making a road trip and will be seeing an old military bud. I plan on giving his young daughters a silver dollar each, but I want to drop a note with it explaining why. What would you add to this for kids turning 18? Their father is a sharp guy who has done quite well for himself in farm land but I'd like to plant a little bit of silver bug into the family. Here's what I have so far.

Sept. 20, 2011

Your father and I have been friends for a long time and I wanted to do a little something special for his beautiful daughters. I'm sure your mom has put this away for you until you can better appreciate what I'm conveying.

In 1933 President Roosevelt confiscated Americans gold. Until that time there were actually gold coins in circulation. In 1972 President Nixon finished removing the U.S. dollar from the gold standard, meaning that the dollar is linked to nothing other than the ability of the government to tax the income of entities residing in the United States.

In 1982 the U.S. Mint quit making pennies out of real copper because 100 pennies were worth more than one paper dollar. Pennies are now copper plated zinc chips. Real copper pennies made prior to 1982 are worth a little over two cents each as I write this.

In 1964 the U.S. government discontinued using real silver in the nations coinage because the Federal Reserve issues too much money and the Federal government issues too much debt; creating inflation. Because silver is a fairly stable commodity, some would say real money, the inflation caused by the Federal Reserve and the Federal Government devalued the dollar to the point that it was too expensive to continue putting silver into our coinage. In other words a silver dollar was worth more than a paper dollar. When that happened, the U.S. Mint could no longer afford to create our coins with silver. In 1964 a silver dollar would buy Three gallons of gasoline and two packs of chewing gum. Today (Sept 2011) A silver dollar is worth $23.96, and will buy six gallons of gasoline at $3.53, and leave you with $2.78, enough to buy a milk shake. Always remember that hard assets, like silver and gold increase in value when compared to paper money.

I'm assuming that you are about 18 years old as you read this. How many paper dollars is a silver dime worth today? How many dollars does it take to buy a gallon of gas?
 
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glockngold

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#2
This is a nice idea.
Girls being what they are :biggrin: Put the coins in airtights so they look more pretty.

Explain to them in the note how to find out the current $ value. (if there even are dollars at that time)
 

Farp

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#3
I'm making a road trip, and will be seeing an old military bud. I plan on giving his young daughters a silver dollar each, but I want to drop a note with it explaining why. What would you add to this for kids turning 18. Their father is a sharp guy who has done quite well for himself in farm land but I'd like to plant a little bit of silver bug into the family. Here's what I have so far.

Sept. 20, 2011

Me and your dad have been friends for a long time and I wanted to do a little something special for his beautiful daughters. I'm sure your mom has put this away for you until you can understand what I'm conveying.

In 1933 President Roosevelt confiscated Americans gold. Until that time there were actually gold coins in circulation. In 1972 President Nixon finished removing the U.S. dollar from the gold standard meaning that the dollar is linked to nothing other than the ability of the government to tax the income of entities residing in the United States.

In 1982 the U.S. Mint quit making pennies out of real copper because 100 pennies were worth more than one paper dollar. Pennies are now zinc plated with copper.

In 1964 the U.S. government discontinued using real silver in the nations coinage. This is because the Federal Reserve issues too much money and because the Federal government issues too much debt. These actions create inflation which devalues the paper money we use today. Because silver is a fairly stable commodity, some would say real money, the inflation caused by the Federal Reserve and the Federal Government devalued the dollar to the point that it was too expensive to continue putting silver into our coinage. In other words a silver dollar was worth more than a paper dollar. When that happened the U.S. Mint could no longer afford to create our coins with silver. In 1964 three silver dimes would buy a gallon of gasoline. Today (Sept 2011) three silver dimes are worth $6.72, and will nearly buy two gallons of gasoline at $3.53. Always remember that hard assets increase in value when compared to paper money.

I'm assuming that you are about 18 years old as you read this. How many paper dollars is a silver dime worth today? How many dollars does it take to buy a gallon of gas?
EOA--It's just about supper time, so I won't be taking the time to write something following my suggestion--however, you might do something that reflects the following: Give an FRN with the 90% dollar and write something that explains the difference over time. I"m 61 YO. In about 1959, the silver dollar was still available for a buck in change, especially when we traveled through Montana. This was when gas was about $0.23 per gallon. Since then, gas has gone to about $3.59. The silver dollar is now (not counting the big drop over the last 2 days) about $30 to $40--about 8 to 11 times the value of a FRN using gas as a basis. Explain how saving the silver dollar has been, is, and will be a good idea versus the fiat.

With a little tweeking, you'll be able to make a good impression. FWIW. Farp
 

ErrosionOfAccord

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Thanx bud. When I'm feeling it I can usually take time and write a fairly intelligent note. Lately it seems like everything I write is a jumbled mess. Must be the flashbacks.
 

Weatherman

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Great idea!! :36_1_11:

I would start out with 'Your Dad and I'
Agreed. I would also change "understand" to "better appreciate" in the first paragraph. Otherwise, it implies that you thought they couldn't understand what you were saying before, and that could have a negative connotation.

I suggest also inserting "like silver and gold" after "hard assets" in the next to last paragraph so they will know what you meant by "hard assets".
 

budfox

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#7
It's a good idea to give it to the Mom. Even with all I have taught my boys (they live with their paper rich shiny mother) I tested them. I gave them each a morgan dollar. I told them this is a hundred year old silver dollar but it's worth $39 (at that time) I said it's up to you to either go to a coin store or save it for a rainy day. I was dissapointed.

Maybe incorporate the suggestions you select by editing the original post. That way you'll have the finished product when done.
 

Weatherman

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Don't forget to add the comma after "like silver and gold". :biggrin:


I said it's up to you to either go to a coin store or save it for a rainy day. I was disappointed.
Budfox raises a good point. Kids can seldom see much further than how much stuff they can get NOW for a handful of money. I would add something like this to the last paragraph:

Please try to resist the temptation to sell this silver dollar for a fistful of paper money that would quickly be wasted by purchasing something unnecessary, or that would have value slowly lost by inflation if deposited in a bank. Silver and gold are real savings that will keep their value, and their purchasing power, long after paper currency has become much less useful. Keep this, and more silver and gold that you can purchase later, in a safe place so you will always have real wealth whenever you might need it.
 

argentos

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#10
This has been an excellent thread.

How I wish I had seen it years ago when I penned an "alright but could be better" missive to my grandchildren with some PMs.
 

ErrosionOfAccord

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#11
Updated for 2017


June, 11 2017

Your father did me a big favor near your birthday this year so, I wanted to do something for you. I'm sure your mom has put this away for you until you can better appreciate what I'm conveying.

In 1933 President Roosevelt confiscated Americans gold. Until that time, there were actually gold coins in circulation. In 1972, President Nixon finished removing the U.S. dollar from the gold standard, meaning that the dollar is linked to nothing other than the ability of the government to tax the income of entities residing in the United States.

In 1982, the U.S. Mint quit making pennies out of real copper because 100 pennies were worth more than one paper dollar. Pennies minted today are copper plated zinc chips. Real copper pennies made prior to 1982 are worth 1.72 cents each as I write this.

In 1964 the U.S. government discontinued using real silver in the nations coinage because the Federal Reserve issues too much money and the Federal government issues too much debt thus creating inflation. Because silver is a fairly stable commodity, some would say real money, the inflation caused by the Federal Reserve and the Federal Government devalued the dollar to the point that it was too expensive to continue putting silver into our coinage. In other words, a silver dollar was worth more than a paper dollar. When that happened, the U.S. Mint could no longer afford to create our coins with silver. In 1964 a silver dollar would buy Three gallons of gasoline and two packs of chewing gum. Today (June 2017) a silver dollar is worth $12.45, and will buy five gallons of gasoline at $2.39. Always remember that hard assets, like silver and gold increase in value when compared to paper money.

Please try to resist the temptation to sell this silver dollar for a fistful of paper money which, will quickly be wasted by purchasing something unnecessary, or that would have value slowly lost by inflation if deposited in a bank. Silver and gold are real savings that will keep their value, and their purchasing power, long after paper currency has become much less useful. Think about keeping this, and more silver and gold you can purchase later, in a safe place so you will always have real wealth whenever you might need it.

I'm assuming that you are about 18 years old as you read this. How many paper dollars is a silver dollar worth today? How many dollars does it take to buy a gallon of gas?