Thinking about stacking more silver for when things get rough...

Janet Cook

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Thinking about stacking more silver for when things get rough...

janet_cook📊Growing (50-100k)

about 7 hours ago

Key Takeaways

•My Gold IRA's been doing its job, sitting pretty at around $80k, mostly in gold American Eagles and Canadian Maples, which has been great.
•Silver Eagles fit the bill perfectly because they're legal tender (even if the face value is a joke) and everyone knows what they are.
•I’m not talking about putting all my eggs in one basket, but adding another layer of security to my ~100k overall precious metals portfolio.

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Okay, so I've been running my jewelry store here in Providence for over 20 years, and I've seen enough economic ups and downs to know a looming storm when I feel one. My Gold IRA's been doing its job, sitting pretty at around $80k, mostly in gold American Eagles and Canadian Maples, which has been great. But lately, I’ve been seriously considering diversifying more of my personal savings, outside the IRA, into silver coins, specifically thinking about some monster boxes of Silver Eagles.

My thinking is, with all the talk about interest rate hikes and inflation still being stubbornly high, a recession feels less like a possibility and more like an inevitability at this point. In a truly bad scenario, where the financial system gets really wobbly, I like the idea of having tangible assets that are more accessible than a large Gold Bar, and universally recognized. Silver Eagles fit the bill perfectly because they're legal tender (even if the face value is a joke) and everyone knows what they are. Plus, the premiums on them, while higher than just buying generic silver, still feel justifiable for the liquidity and recognition factor if I ever needed to barter or sell quickly without a dealer involved.

I've got about $15k sitting in a high-yield savings right now that I was planning on putting towards some store upgrades, but honestly, those can wait. The idea of converting that cash into physical silver, especially with spot prices fluctuating, just feels like a smarter play for true recession-proofing. I’m not talking about putting all my eggs in one basket, but adding another layer of security to my ~100k overall precious metals portfolio. My wife thinks I'm being a bit overly cautious, but she didn’t have to liquidate half her 401k during the '08 crisis to keep our lights on, like we almost had to.

Does anyone else feel this pull towards silver coins right now for similar reasons? Am I overthinking the 'liquidity in a crisis' aspect of Silver Eagles versus, say, 100oz bars? I know the premiums bite, but the thought of having that many Eagles on hand for a just in case scenario is pretty comforting. Any other small business owners out there specifically beefing up their silver stack for recession fears?

4 comments

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Best Answer▲ 7 upvotes

maria_campbell📊Growing (50-100k)

Totally feel this! I've been in retail for ages too, and that feeling in your gut about an economic downturn is hard to shake. I had a similar thought a few years back and started slowly building up my silver stack. Nothing crazy, but enough to feel like I've got a little extra something outside the typical investments. It's more of a "just in case" thing for me too, for sure.

Comments (4)

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

david_brown💎Premium (500k-1m)Real Investor•less than a minute ago

Hey, cool to hear about your experience! Just curious, when you say "stacking more silver," are you talking about more physical silver coins/bars, or are you looking at silver ETFs or other paper assets?

ashley_baker💼Starter (0-50k)✓ Verified•less than a minute ago

Hey, I hear you on the "looming storm" feeling. It's definitely wise to be prepared. But given your existing Gold IRA, have you considered diversifying within precious metals rather than just adding more silver?

Your current setup sounds solid, but if you're truly anticipating significant societal disruption, things like platinum or palladium, while more volatile, might offer a different kind of hedge. Or even just thinking about some smaller fractional gold pieces for more transactional flexibility if things get really wild. Just a thought!

donald_nelson💎Premium (500k-1m)Real Investor✓ Verified•less than a minute ago

Hey, that's a smart move thinking ahead like that. With your experience, you've definitely got a good read on things. For anyone looking to diversify beyond just Eagles and Maples, I've found that some online dealers offer silver at slightly lower premiums per ounce for larger increments (like 100oz bars) compared to smaller sovereign coins. Might be worth checking out if you're looking to stack more substantial weight without breaking the bank on premiums. Just something to consider for maximizing your silver acquisition!

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