Gold IRA vs. Direct Physical for Inflation? My thoughts from Greenwich

• •Been thinking a lot about inflation lately, especially with the Fed seemingly in a different universe sometimes.
• •My portfolio's taken a bit of a hit this year, nothing catastrophic, but enough to make me re-evaluate some of my hedges.
• •I've always had a decent allocation to gold, probably around 5% of my ~$3M, maybe a touch more if you count some of the mining stocks.

Been thinking a lot about inflation lately, especially with the Fed seemingly in a different universe sometimes. My portfolio's taken a bit of a hit this year, nothing catastrophic, but enough to make me re-evaluate some of my hedges. I've always had a decent allocation to gold, probably around 5% of my ~$3M, maybe a touch more if you count some of the mining stocks. It’s been split between a Gold IRA and some physical holdings I keep in a vault here in CT.

My initial thought was that the Gold IRA was a pretty elegant solution for tax-deferred growth on a real inflation hedge. But now I'm wondering if the direct physical might be the more pure play when things get really squirrely. The premiums on some of these IRA-eligible coins have been a bit steep, and while I get the convenience and storage benefits, it just feels like there are more layers between me and the actual asset. Is anyone else starting to feel this way, or am I just overthinking it after a few rough quarters?

I mean, the whole point of a solid gold allocation for me is capital preservation and real purchasing power when the dollar starts to really slide. If there's ever a true monetary crisis, what's easier to liquidate or even just hold – bars in a vault or a paper entry in an IRA Custodian's ledger? I know, I know, the IRA structure has its benefits for later in life, but I'm talking about the immediate, tangible protection. What are your thoughts on directly owned physical gold vs. a Gold IRA for maximum inflation tail risk protection?

Thinking about maybe rebalancing some of my Gold IRA holdings into more direct physical if the premiums make sense. Always looking for ways to shore up the fortress, especially when the macroeconomic picture looks so uncertain. Appreciate any insights from you folks who have been in this game longer or have a different perspective on these vehicles.