Inherited IRA to Gold - What's the deal with silver coins?
- •My old man passed a few months back, and while it's still tough, I'm trying to get his affairs in order.
- •He had a decent chunk of change in a traditional IRA – about $300k.
- •Used to work at one of the big mills here in Birmingham for 30 years, so I understand commodities more than I ever will tech stocks.
My old man passed a few months back, and while it's still tough, I'm trying to get his affairs in order. He had a decent chunk of change in a traditional IRA – about $300k. I'm inheriting it, and frankly, I'm not thrilled with the idea of keeping it all in stocks and bonds, especially with all the noise out there these days. Used to work at one of the big mills here in Birmingham for 30 years, so I understand commodities more than I ever will tech stocks. Been thinking about rolling a good portion of it, maybe $100k-$150k, into a Gold IRA.
I've been doing some research, and it seems pretty straightforward for gold bullion and some specific gold coins. But what's the deal with silver coins? I've seen some of these Gold IRA companies pushing silver Eagles or Maples as part of the deal. Is that really a good move for an inherited IRA, or are they just trying to upsell me?
Part of me likes the idea of diversifying beyond just gold, but I don't want to get stuck with something that's a pain to liquidate or has huge premiums. Has anyone here converted part of an inherited IRA into a precious metals IRA, and did you include silver coins? What was your experience? Any hidden fees or tax implications I should be aware of beyond the usual RMDs?
My main goal here is wealth preservation, not necessarily day trading. Just trying to figure out the best way to protect what he worked so hard for. Appreciate any insights folks might have.