$50,000 may not buy you a money-making property without a substantial mortgage, which limits your profits and increases your risk if the market drops. Stocks also carry a lot of volatility, which could make you nervous.
If you don’t need the money right away, consider investing in coins, which have collectible value and smelt value based on the coins composition. They will never be worth less than the value of the base metal. For silver coins:
Coins can also be a great hobby, and you can give them as gifts and pre-inheritance to your heirs. You can also tell people that you are training to be a numismatist (coin collector). Many people carry a “lucky” coin with them, as a talisman of good fortune.
I used silver coins here as an example. You can get gold coins as well. with $50k you can get approx. 2000 1 ounce silver coins, or about 40 one ounce gold coins. If you keep them at home, 2000 coins weigh a lot (approx 125 lbs) and are harder to steal (try running with a pillowcase filled with over a hundred pounds of coins); you can also diversify more with 2000 coins vs. 40 coins. 4 pounds of gold coins are easier to manage than 2000 silver Eagles. In either case you may need a safe – I got mine on Amazon.
You can also display your coins, and take some pleasure in their acquisition.
A type of coin I enjoy collecting is the Silver Strike, a Casino $10 token that is highly collectible – and most casinos no longer distribute them. I get them from casino’s I have visited in Las Vegas, or on EBay. Newer ones ar clad in silver; older ones have a silver center that is .999 silver, weighing approx. .6 troy ounces. There are many available from casinos that have been demolished or bought out, making them even more valuable. Here is the web site of the
Sam’s Town .999 Silver Strike, Many collectors trade them on Ebay.
Aladdin Casino Silver Strike. The Aladdin has closed, making this a nice piece of “old” Vegas to have in your collection! (The Aladdin is now Planet Hollywood). Aladdin Strikes on Ebay.
Best of Luck – These are just a few options for you – find coins you enjoy and have fun with it! You can even get coins with Koalas and Elvis! (Links to eBay) Also post a comment letting us know what you did, and how it is working out for you! Repost and share with your investing friends! – Alan
The Last Word: