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Heirlooms and sentimental value - selling gold and buying art

(8 Posts)
fruitstick Mon 21-Sep-09 11:28:26

I have 2 Krugerrands that my Dad gave to me before he died. I have never really wanted to sell them but the price of gold is very high at the moment.

They have sentimental value as Dad gave them to me but it's not like I can wear them or look at them.

I thought of having them made into jewellery but I'm not that keen on gold hmm.

So my new plan is to sell them and buy a painting or piece of art with the money, which will have more sentimental value than a couple of coins in a drawer.

Or should I keep them and give them and give DS one each when they are older?

What do you think?

Wolfgirl Mon 21-Sep-09 19:11:55

Hi there fruitstick, I guess at the end of the day, it depends how much you need some money. Also, do the coins hold much worth? So, if they do... then again ask the question - do YOU need the money.

Sitting here thinking about if I were in the same position and should I hold on and give them as a hand down investment for my DC's, I would think about what I already have invested for them, and whether the coins would add to the value\total.

The other thing to think on, is what is happening with our current economy and what will happen in the not so long future. It looks like our children and their children will be inheriting a mighty debt and pay through hiked taxes. A few extra bob left by mum could come in very handy and aid their future needs. Just a thought.

If you are only talking a couple of hundred, Id get off and sell them, and have a good couple of days out. wink

morningpaper Mon 21-Sep-09 19:14:53

wow I'd never heard of Krugerrands - they look cool

FWIW, I would keep them for the boys.

hatwoman Mon 21-Sep-09 19:22:10

whether or not they had sentimental value, for me, would depend on whether there was a story attached to them iyswim. if your father had them because he thought they were an astute investment then I can see why you might want to do something with them. if, on the other hand, he bought them because he loved coins/South Africa or thought they were particularly cool and would show them off/tell people about them then I'd attach some value to the objects themselves - they'd be a symbol of something about him that I'd like to pass on. but that's just me - and it's a very personal thing.

fruitstick Mon 21-Sep-09 19:55:57

Thank you all. I don't think they had any sentimental value for him. He had all sorts of investments (premium bonds etc) and this was just another one. He also had Gold sovereigns which he gave me to and I have that on a chain (although I never wear it as it's not really my thing blush.

They are worth about £600 each at the moment as the gold price is so high (they are 1oz each). I would never cash them in and spend the money but thought that spending it on a painting that I can look at every day, maybe that is more pertinent to my childhood, might be a better use.

And it would give DSs something to fight over it after I die grin

hatwoman Mon 21-Sep-09 20:39:27

if he counted them the same as premium bonds then I would probably do as you suggest.if they were premium bonds then you wouldn't even be asking.

HerHonesty Sun 04-Oct-09 16:42:16

as an investment stick with the gold. £600 doesnt get you an awful lot of investable art to be very honest and unless you are an expert you'll probably just end up with a nice painting but thats about it (which is no bad thing, but not if you are hoping to maintain value..)

BiteOfFun Sun 04-Oct-09 17:00:36

I know an investable artist <<innocent>>

wink

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