Eagles vs. Buffalos - My Two Cents as a Gold IRA Regular (Richmond, VA)
- •I've been seeing a lot of buzz lately about American Gold Eagles versus American Gold Buffalos, especially for those of us holding gold in an IRA.
- •I'm a professor at VCU and let's just say, research is kind of my thing.
- •For my IRA, I went with the Eagles, and here's why: the 22-karat gold.
I've been seeing a lot of buzz lately about American Gold Eagles versus American Gold Buffalos, especially for those of us holding gold in an IRA. As someone with roughly $350k diversified across several assets, a good chunk of which is in physical gold (mostly bullion, but some numismatics too), I've definitely done my homework here. I'm a professor at VCU and let's just say, research is kind of my thing.
For my IRA, I went with the Eagles, and here's why: the 22-karat gold. While the Buffalos are 24-karat pure gold, the Eagles' alloy (91.67% gold, 3% silver, 5.33% copper) actually makes them more durable. I'm not planning on carrying these around in my pocket, obviously, but for long-term storage, that extra resilience against scratches or dings just gave me a little more peace of mind. Plus, the legal tender status of Eagles, even if nominal, adds a different layer of security for me. Call me old-fashioned, but that government backing feels significant.
Now, I completely get the appeal of the 24-karat purity of the Buffalo. For some, knowing it's pure gold, unadulterated, is non-negotiable. And aesthetically, they are undeniably beautiful coins. I even considered them for a small portion of my non-IRA holdings just for that reason. But for the core of my IRA, which I view strictly as a hedge against inflation and a store of value for the next 20-30 years until retirement, the Eagles won out. The slight premium over spot with Eagles can be a turn-off for some, but I factored that into my overall cost evaluation. My custodian here in Richmond had a pretty straightforward process for both, so that wasn't a deciding factor.
What are others' thoughts on this? Did anyone else go with Buffalos for their IRA purely for the 24k purity, or did the durability and government backing of the Eagles sway you like it did me? Always curious to hear different perspectives, especially from folks who've been in the game longer than my current 8 years.