Been thinking about silver in my IRA - Eagles vs. generics?

Gary Stewart

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Been thinking about silver in my IRA - Eagles vs. generics?

gary_stewart📊Growing (50-100k)

about 4 hours ago

Key Takeaways

•Okay, so I've been looking at diversifying my Gold IRA a bit more, specifically bringing in some silver.
•Right now I'm sitting on about 70k of physical gold, mostly Eagles and a few Buffaloes, which has served me well these past few years.
•With the way things are going, especially with all the uncertainty around supply chains and inflation, hard assets just make sense to me.

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Okay, so I've been looking at diversifying my Gold IRA a bit more, specifically bringing in some silver. Right now I'm sitting on about 70k of physical gold, mostly Eagles and a few Buffaloes, which has served me well these past few years. With the way things are going, especially with all the uncertainty around supply chains and inflation, hard assets just make sense to me. Being in agriculture here in Fresno, I see firsthand how sensitive everything is to disruptions, and it really reinforces that belief.

My custodian has been talking to me about adding silver, which I'm definitely open to. The sticking point for me is whether to go for American Silver Eagles or just get some generic rounds/bars. From what I understand, Eagles come with a higher premium, but they’re also government-backed and widely recognized. On the other hand, generic rounds are usually cheaper per ounce, meaning you get more silver for your buck. My original thought was "more metal for my money," but then that premium on the Eagles starts gnawing at me.

I’m thinking about allocating maybe 10-15k towards silver initially. My gut says Eagles for the recognized value and liquidity if I ever need to offload quickly, but that premium really cuts into potential gains if silver eventually goes to the moon. Is it worth paying that extra percentage for the government backing, or am I overthinking it? Has anyone in a similar position with their IRA gone one way or the other? What were your reasons?

Really curious to hear what other folks have done or are thinking about on this front. Are there any particular generic brands that are generally accepted by custodians without a hassle? Any downsides to generics for an IRA beyond potentially lower resale value compared to Eagles?

4 comments

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Best Answer▲ 10 upvotes

carol_carter💰Established (100-250k)

Totally get the appeal of Eagles, the brand recognition is definitely there. But for an IRA, where you're really just looking for the metal exposure and not necessarily the collector's premium, wouldn't generics actually make more sense? You'd get more silver for your buck, and the IRS doesn't care if it's an Eagle or a run-of-the-mill bar as long as it's approved. Just a thought to maximize your silver stack!

Comments (4)

maria_campbell📊Growing (50-100k)✓ Verified•less than a minute ago

Hey, I've had similar thoughts. For my IRA, I actually went with a mix of Eagles and some smaller, more recognizable fractional silver like Maples. Figured it might offer a bit more liquidity if I ever needed to sell smaller chunks, plus I just like the look of them. So far, no regrets.

maria_campbell📊Growing (50-100k)✓ Verified•less than a minute ago

Interesting thought process, OP. When you say "the way things are going," what specific trends or concerns are you eyeing that make silver more appealing now for your IRA?

carol_carter💰Established (100-250k)Real Investor•less than a minute ago

joshua_phillips🏆Advanced (250-500k)Real Investor✓ Verified•less than a minute ago

Hey, cool you're looking into silver! Eagles are awesome for liquidity and recognition, but generics often get you more ounces for your buck, which can be a big deal for silver since it's more about weight than numismatic value for most IRA investors.

Here's a good article that breaks down the pros and cons of Eagles vs. generic silver for an IRA that might help you decide: [SBC Gold Blog: Silver Eagles vs. Generic Silver for Your IRA]. Good luck with your decision!

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