First of all, let’s provide a definition of the word “heirloom” from the Oxford English Dictionary –
“A valuable object that has belonged to a family for several generations”.
Classic family heirlooms
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Of course, for an heirloom to be deemed “valuable” within a family it doesn’t have to be an investment, treasured non-investment type heirlooms could include furniture, keepsakes, letters, photographs, scrapbooks, etc. The primary focus of this article though will be investment type heirlooms!
Examples of classic family investment heirlooms include art, ceramics, collections (e.g. stamps), cookware, jewellery, musical instruments, property, rugs and not least precious metals such as gold and silver!
Building family heirlooms with gold
Many wise investors have decided to build family heirlooms based on gold! There are two main ways to do this:
- Gold bars – Buying gold bars, ranging from 5g to 1KG in weight
- Gold coins – Buying gold coins, perhaps new issues, famous historic coins or a mix of both
It’s generally thought for heirloom purposes that investing in gold coins is better than investing in gold bars. The reason is primarily that gold coins have more interest than gold bars, which whilst valuable have no intrinsic appeal outside of investment.
Buying gold coins adds numismatic / collectible value
When buying gold coins there is an opportunity for numismatic / collectible value to accrue. This is “over and above” the core precious metal within the coins, which will also vary over time. Prudent investment may lead to a significant return on original investments.
For example, how nice would it be right now to have built up a collection of Britannia coins, buying one each year from their launch in 1987 onwards. As we write you’d have 31 in your collection and have built a family heirloom into the bargain!
Build a gold family heirloom with Physical Gold
So why not build a legacy which will last A gold investment heirloom for future generations of your family You can do by ordering through Physical Gold, whether it’s a one-off or occasional investment or through our monthly saver account.
If you have an existing gold heirloom, then why not simply add to it We can recommend gold options, which would be a perfect addition to your gold based heirloom.
Contacting Physical Gold
Call us today on 020 7060 9992 to discuss heirloom planning, or email us via our contact form. We’d be delighted to discuss the various approaches, many of which offer very beneficial tax advantages too.