How to utilise gold as a long-lasting gift?
Typically, golds are sold in troy ounces (approximately 31.1 grams), and smaller versions can be in half troy ounces, quarter troy ounces, etc. However, when more companies started to produce gold bars in small denominations such as one gram or half a gram, the interest among people towards this precious metal has started to pick up.
For those who wish to bless the newlywed couple with a gift, perhaps a gold bar can be more beneficial than other gifts they may never utilize. There are also instances where schools decide to award their top students with a gold bar. This is indeed an excellent idea.
I recently read from my Facebook page that a good friend was appreciated for his dedicated service in his company. Can you guess the gift that was presented to him? You are right! It was gold coins. This way, the gifts would be better-taken care of, unlike other items.
Hence, if we have a budget of about RM200, perhaps a half-gram gold bar can be considered, while with a bigger budget, there are ample options to choose from. The point is, gold can indeed be a good selection for this very reason.
In addition, the presence of variation, especially in the design, makes the gold savers look forward to increasing their collection. They accumulate wealth with gold, but they also get excited with the exclusive plans of their collectables. This makes gold an ideal gift, and when we do so, this gift holds sentimental value where the receiver would not tend to sell them away quickly. Hence, gold serves as a gift that stays valuable forever.
Too much of the same gift
Have you attended an event and realized the gifts received were more or less the same? When I was young, our family just shifted to a new house, and during the house warming event, the guests came over with presents. The majority of them were teacup sets and glass plates. After the event, we stored the gifts in boxes because they were too much. Do not get me wrong; I am not being unappreciative. I am indeed grateful for the beautiful gifts. But I do not think my family is the only one who had this experience, right?
All I am saying is, why not consider presenting gifts atypical from others? You know where I am going with this, right? Try giving out gold as a present instead. Nobody hates gold, which might trigger them to continue the habit of gold saving. This is way better than stacking our unused gifts in the closet or, worse still, somewhere in the box only to collect dust.
Everyone likes gold
Gold is unique where nobody says no if you give it to them as a gift. It is naturally an asset, and if not kept for a long term, they can utilize it during a financial crunch, which we would never anticipate but have to prepare nevertheless.
When we give out gifts in cash, I agree that it is easiest to do, but imagine the implications. We would want our gifts to be used carefully and for practical reasons. So, to avoid such circumstances, gold is the ideal form of gift, in my opinion.
With this in mind, gold is suitable as gifts for various occasions, such as:
- Excellence award for students or employees
- Wedding gifts (or dowry, anniversary gifts, etc.)
- Newborn gift (or birthday)
- Festival celebrations (Hari Raya, Chinese New Year, Deepavali, etc.)
- Farewell ceremony
- Souvenir to invited speakers or VIP guests
- Gifts for corporate events where we can place our brand logos or identity on the gold items
Company image gets a boost
For the corporate companies (or individuals for that matter) who are keen to build their brand, having their logo or identity placed on gold items would boost the company's image. The receiver would look at your logo with a ‘gold standard’ because your brand or logo is printed on the gold. This directly creates a ‘Wow’ effect to the receiver and establishes a stronger relationship in the long run.
Interestingly, companies tend to have big budgets for their events, and the allocations for gifts are of decent size. However, the amount is unfortunately utilized on so-called ‘gifts’ that would not last long, easily broken (due to poor quality), being inappropriate (due to out of context), and these items certainly would go out of trend after some time. When this happens, could you guess where these ‘gifts’ would go then?
Hence, when corporate companies make custom-designed gifts with brands or logos, the issue of being out-of-date, being inappropriate, unable to store for a long duration of time would no longer be a concern. Gold is valuable at all times and indeed an ideal gift that lasts for a very long time.
In short, with a budget allocated from the corporate, gold is highly recommended as a gift simply because nobody hates gold (unless you have an extreme allergic condition against gold). Doing so avoids wastage essentially.
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Your buddy on gold investing,
Naresh G