I'd buy silver. It's cheap right now. Not numismatics but 2014 Eagles or Maple Leafs. The Chinese forge older stuff so I'd stay away from them and most so called 90% (yes, they forge those too).
I'd buy a Tavor. Seriously the best combat-focused rifle I've ever used. Easy to point, easy to shoot, easy to maintain, and easy to learn. Comes in RH/LH and 5.56mm, 5.45 (coming soon, I believe), and 9x19.
Everytime one of these threads come up I have a different answer. But right now I'd say a Ruger no 1 in .270 magnum with some fancy scope. Or a BFR, savage 24f-12t, and a savage 24vs.
No hes just young and foolish. He has yet to enjoy quality firearms. Thus has nothing to judge his Russian 15lb boat oars against. One day he'll learn.
I would blow it all on a custom model 70 long range rig chambered in 260. And the rest toward a quality vortex or leupold scope. Good look on taking care of the old lady. That will ensure many new gun related purchases in the future!