It seems many people are out buying gold lately but too many people seem to be seeking 1 oz coins instead of the more practical 1/10 oz coins.   The key issue here is if you need to resort to bartering with gold, you don’t want to have to “break” a one ounce gold coin or worse trade a one ounce coin for something not necessarily worth one ounce of gold.

Ideally, you should have a mix of both one ounce gold coins, half ounce coins and one tenth ounce coins as part of your inventory.    A while ago I discovered that in some cultures it is customary to buy some gold on your child’s birthday each  year as part of their savings.   I found this quite fascinating and decided to add it as part of my kids wealth building plan and each year, I make a trek to buy some gold for my kids.

Ideally, I try to purchase one ounce each year and in theory, my kids should have 18 oz of gold by the time they reach their 18th birthday.    At the current price of $850/oz that would translate to about $15,000 in value.