What would you spend this £1000 on?

I would buy a first edition children’s book in mint condition

I wouldn't buy premium bonds if I had more than one child/grandchild/niece/nephew to buy presents for because if one of them won a huge prize it's seems a bit hard on the rest. I'd get some sort of savings account that's the same for them all.

ninamoore

I would buy a first edition children’s book in mint condition

That’s a good one ☝️

Perhaps a jewel? Diamond, sapphire or an emerald? My mother in law had a sapphire given to her in or around 1950. It was recently valued at 12,000 pounds.

Would an amount like this be better used for extra lessons from a private tutor in the school holidays? Failing that, for experiences that show a child how many different things they could do more of in the future.

I feel you’d answered your own question before you even posted. I’m with other posters I wouldn’t buy jewellery I’ve got sovereigns from my dad from 35 years ago they’ve gone from all time high to very low many times over 35 yrs my granddaughters are not interested in them either.

I pay £20 a month into a pension fund for each of my grandchildren. It was recommended on Moneybox a few years ago.

A really fine set of McCallum African Blackwood and silver mounted ‘Heritage’ bagpipes, they would cost £1000 and, even if not played, in 20 years time when the Blackwood has completely all been used up, (it is in very short supply today) they will have doubled or quadrupled in price and there will always be a Rich Gullible American who will covet them and pay way over the odds for antique (as they then will be) pipes.

Since the original post “rules” have changed, I’m reading the majority of comments seem to lean away from an item. I agree with that as 10-12 yrs from now an item’s worth may have devalued - and that’s including gold, etc. (of course, we never know the futuref those variables.)

My first instinct- if you really want value - is, open or contribute towards an education, college fund for the children.
Cheers!
USA Gundy

I bought my both GD’s first editions of books when they were born.

I think I would put it into an ISA or maybe premium bonds.
From a recent experience I would avoid the Royal Mint with their fancy gold sovereigns as you pay a huge mark up to cover their retail price. So if you do decide on gold go for bullion over certificates and posh boxes.
£12k spent, probate value £5k but could only find buyers willing to pay scrap value of around £3k we then decided to just keep them.

I would put it into a savings account for them.

I would buy a work of art.

Not quite the same but I save monthly into a kids ISA for my two. When it gets to 10K I am going to (probably stop), well I'll stop the older one's and make up the younger ones. I intesed them to have 10K when they are 18 plus so that they could buy a car and pay the insurance, by then it might just buy a bike!

If I had to spend £1000 a family day out

I’m glad I don’t have this dilemma, as I have enough trouble buying the usual presents for my lot (all boys). Maybe a watch each for them, but who knows whether they’d want them, or even whether we’ll still be using watches in the future?

I wonder if a good classic handbag would be an idea for some girls, though I know several who like charm bracelets, so I like Callistemon’s suggestion.

Art and first edition books would be great if you picked the right artist or author - I’m pretty certain I wouldn’t. The lovely man who bought and moved into our first house, a modest two bed terrace, had to instal a complex security system because he brought with him tens of wonderful paintings, many by well-established artists, that he’d collected over many years, and displayed them all round the house. He had several Hockneys - he’d recognised his talent while he was still at art college in Bradford. I’ve as much chance of spotting the next big thing as I have of flying to the moon.

I would buy an item, gold is a universal currency so it's never just a UK / European market so it's never going to do a lot worse than ISAs when you take inflation into account, But a first edition is a brilliant idea if its a good one & you can get hold of one (they are precious cos they're rare) .A work of art is a gamble at £1k, but such a lovely one.

A painting or an antique .

Single malt - a bottle each.

If you want something to grow start a pension fund for your grandchild. Even if you only pay in for a relatively short period of time it will grow and grow for such a long time it will be very worthwhile when they reach retirement. But you’ll never get to see them spend it 🤣

An item - a lifetime membership to something like The National Trust

A lesson on how to be an entrepreneur.
All those I know, left school early and started selling. Think Lord Sugar, Richard Branson etc.

How about a vintage watch?

National Trust lifetime membership is a great idea, but would cost nearly £2000.

When DGS was born we put money each month into a fund. When his sister came along we split the amount into two funds and continued to pay money in until we retired. DGS was able to dip into this money to help pay for his first car and GD will probably do the same this year. If I'd had £1,000 I would have started a fund for them. They see that the investment can go up and down and hopefully they choose to use it wisely and not blow the lot on a dream trip to watch Harry Styles