Social capital is a difficult concept to define, and the task of defining the social capital of youth is even more complicated. The concept has not only been poorly researched but is also imperfectly understood. This article examines the problems faced in the use of adult indicators in youth social capital research and explores current conceptualisations of youth social capital. It also discusses the problems arising from these, and--in light of a 2008/09 ethnographic study southwest of Sydney--the article suggests a set of indicators that may be used to measure and observe the social capital of young people. (Contains 3 notes.)