Finally pulled the trigger on adding silver to my Gold IRA

Timothy Reed

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Finally pulled the trigger on adding silver to my Gold IRA

timothy_reed💎Premium (500k-1m)

about 8 hours ago

Key Takeaways

•Well, after kicking the can down the road for a while, I finally diversified my precious metals IRA and added some silver.
•Always been a gold guy, ever since I first started looking into a self-directed IRA a few years back.
•The whole *gold standard* thing, you know?

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Well, after kicking the can down the road for a while, I finally diversified my precious metals IRA and added some silver. Always been a gold guy, ever since I first started looking into a self-directed IRA a few years back. The whole gold standard thing, you know? Just felt solid. Had about $700k in the Gold IRA, mostly American Gold Eagles and some Canadian Maples, and it's been doing its job, especially with all the craziness in the market lately. But lately, I just had this nagging feeling.

My buddy, who worked with me at the creamery for 30 years before he retired, he's always been pushing silver. Says it's the "poor man's gold" but also has more industrial uses, so it's got that going for it. I always thought, "Yeah, yeah, sure Dave." But then I started looking at the gold-to-silver ratio, and it just seemed… off. Like, way out of whack. And with all the talks about green energy and electric vehicles, you gotta wonder if silver is gonna get a bigger push. We're talking about all these new technologies, they need something conductive, right?

So, I called up my company, Birch Gold Group, and talked to my specialist. Explained my thinking, about the ratio and the industrial demand. He agreed it made sense to rebalance a bit. Ended up taking about 15% of my gold holdings and converting it into American Silver Eagles. Feels good to have that extra layer of diversification in there. My wife, Carol, she's happy too. Less of me pacing around the living room going "hmmmmm."

Anyone else here made a similar move recently? Or totally disagree and think gold is the only way to go? Curious to hear what others with a similar portfolio size are thinking about the gold-to-silver ratio right now.

3 comments

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Best Answer▲ 6 upvotes

nancy_hall💰Established (100-250k)

Nice! Always good to diversify. You mentioned the "gold standard" thing being a big draw for you with gold – what was the main factor that pushed you to finally add silver, even though you were initially such a gold guy?

Comments (3)

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

Congrats! That's awesome to hear. I actually just did something similar myself, though on a much smaller scale, haha. Like you, I was 100% gold for ages, just felt like the "safe" bet. But after reading more about the gold/silver ratio and some of the industrial demand for silver, I decided to finally pull the trigger and add some. Feels good to diversify a bit, right?

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

joseph_harris📊Growing (50-100k)•less than a minute ago

Interesting move! I'm curious why silver now, especially if you've always been a "gold guy." While diversification is generally good, silver's volatility can be a bit of a rollercoaster compared to gold's steady climb. Hope it works out for ya, but I'd personally stick to the classic yellow metal for that kind ofIRA chunk.

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