Eagles vs. Buffalos - My Two Cents as a Long-Time Holder
- •For me, the premium on the Eagles has always bugged me a bit, even though I understand the legal tender status and the 22k durability argument.
- •Simpler, cleaner, just good honest gold.
- •Whether it's Eagles or Buffalos, the underlying asset has been rock solid.
Been seeing a lot of back and forth lately on the forum about American Gold Eagles versus American Gold Buffalos, and as someone who's been holding a pretty significant chunk of both for a good while now, I figured I'd throw my hat in the ring. I’m sitting on about 250 ounces of gold in my IRA, split almost 50/50 between the two, mostly accumulated during my working years down here in Houston when oil prices were singing.
For me, the premium on the Eagles has always bugged me a bit, even though I understand the legal tender status and the 22k durability argument. Don't get me wrong, they're beautiful coins, but that extra cost for the same amount of actual gold always felt like leaving a few bucks on the table. With Buffalos, it’s pure 24k, and while they might be a touch more prone to dings if you're handling them constantly (which, let's be real, most of us aren't once they're in the vault), the purity is just more appealing to my old energy-sector brain. Simpler, cleaner, just good honest gold.
I’ve been retired for about five years now, and watching my portfolio (which, including other assets, is comfortably in the 7-figure range, though the gold is certainly a hefty portion of that 1-5M target) fluctuate, I've always felt a sense of security from having that gold. Whether it's Eagles or Buffalos, the underlying asset has been rock solid. I remember back in '08, when everything else was going sideways, my modest gold holdings at the time were a bright spot. It’s a peace of mind thing, especially with the way the dollar's been looking lately. My kids try to convince me to get into these newfangled investments, but I'm a tangible asset kind of guy.
So, for those of you just starting out or looking to add to your holdings, what's your primary driver for choosing one over the other? Is it purely premium? Numismatic potential (for those who even consider that for bullion coins)? Or is it, like me, a gut feeling about purity or recognizability? Also, for anyone still trying to wrap their head around how a Gold IRA even works, I found this "Gold IRA Quiz" over at https://quiz.goldirablueprint.com/?forum pretty straightforward when I was initially looking into it years ago. Might clear up some questions for the newbies.