Time to sell the Krugerrands (August 21, 2024)

Originally minted in 1967, the 22-karat South African Krugerrand coin is one troy ounce of pure gold. Dad gave one each to Tom and me shortly before he passed away in 2020. Thanks, Dad! 

Because the coins look a lot like Mardi Gras doubloons, I feared that when Tom and I died, the Krugerrands would be thrown out with the Mardi Gras beads. So when gold reached its all-time high of $2,531.70 on August 20, we decided to sell. 

With the end of the gold standard in 1971, the price of gold rose from the set price of $35/ounce to $850/ounce by 1980. The price rose and fell with world events. In 1990, it was $400/ounce and fell to $280/ounce in early 2000. Value spiked to $1,899/ounce following 911, then dropped as low as $555/ounce before spiking again with the onset of the COVID pandemic, to $1,686/ounce.

Very long way of saying it seemed selling at the all time high was a good idea.