First-timer here - just funded my Gold IRA, now what??

• •Okay, so I finally pulled the trigger and moved about $75k of my old 401k into a Gold IRA.
• •I'm excited but also a total newbie to this whole precious metals thing.
• •I got the accounts set up, found a custodian, and the transfer's complete, so the funds are sitting there.

Okay, so I finally pulled the trigger and moved about $75k of my old 401k into a Gold IRA. As a small business owner here in Denver, I've been super worried about inflation and everything going on, so this felt like a smart diversification move. I'm excited but also a total newbie to this whole precious metals thing. I got the accounts set up, found a custodian, and the transfer's complete, so the funds are sitting there. Now comes the actual choosing of the gold and silver, right?

My advisor helped me get to this point, but I want to hear from real people who've actually done this. What are some of the common pitfalls? Are there specific types of coins or bars that are generally better for an IRA, or even certain ones to avoid? I'm looking at things like American Gold Eagles and Canadian Maples, but also saw some silver options mentioned. For a first-timer with around $75k in there, what's a good strategy? I'm not looking to day-trade this stuff, just want a solid hedge.

Also, on the tax front, this is still a bit fuzzy for me later down the line. I know the initial transfer was non-taxable, but what about when I eventually need to take distributions? I stumbled across this Tax Calculator tool at goldirablueprint.com and it looks helpful for figuring out the tax implications, but I'm curious if anyone else has used it or has other resources they swear by. Any tips or personal experiences, especially from other small business owners or folks in Colorado, would be greatly appreciated!