If the family invested in gold when it was $300/oz...then they did well. But, adjusted for inflation, gold has returned essentially zero percent over the years from 1982 (peak) until now.
There are better long term strategies for investing, though gold does have a place in a portfolio.
But what that family has done right is to fully fund retirement. Most people don't.
Astonishingly, most Americans my age have about $12,000 in retirement savings. A frightening number. $12K will yield about $40/ month in retirement, using a 4% withdrawal rate....and that doesn't even pay my electric bill....much less pay for groceries.
Now, the executives at my airline all left with fully funded pensions and generous benefits, while my pension was liquidated and turned over to the PBGC. I will end up with about 10% of what was originally promised in our contract. You see, contracts with employees are renegotiated in bankruptcy, while contracts with executives are kept in place. After all, their expertise (which led to the bankruptcy on the first place) is vital to the company's future, while my skills, like flying an airplane, aren't important to an airline. (I'll pause to let the sarcasm sink in).
None of it was fair, but that's the hand I was dealt. The real question is: how do you play the hand you were dealt? I suffered a huge loss. To compensate, I poured money into my 401(k), I joined the Navy Reserve (which has a pension), I cut back, to the greatest extent possible, to fund that 401(k) which is solely mine. Now, at 51 years old, 12 years after the bankruptcy, I'm in a pretty good position.
I don't own any gold at the moment, however, the plan, and the discipline to execute the plan, have put me in a good position. The planning and discipline, not the particular investment choice, is the lesson to be learned from your gold coin family example.