Silver Eagles vs. Generic Rounds for IRA - What's your take?
- •I've been thinking a lot lately about diversifying my precious metals IRA more heavily into silver, and the perennial question of Silver Eagles vs.
- •generic rounds keeps popping up.
- •I’m a healthcare admin here in Tampa, so I’m pretty meticulous with numbers, and this decision feels like it has some real implications.
I've been thinking a lot lately about diversifying my precious metals IRA more heavily into silver, and the perennial question of Silver Eagles vs. generic rounds keeps popping up. I've got a decent chunk, maybe $150k-$200k of my retirement portfolio, already in physical gold and some silver, mostly in a vault in Delaware through my IRA custodian. I’m a healthcare admin here in Tampa, so I’m pretty meticulous with numbers, and this decision feels like it has some real implications.
My current silver holdings are mostly 1oz Eagles. I started buying them a few years back, probably around 2020, because I liked the government guarantee and the perceived liquidity. But then you look at the premiums! It’s really hard to stomach paying that much over spot, especially when you're buying a decent quantity. My last purchase felt like I was almost buying gold again with those premiums. I know the argument is that you'll get some of that premium back when you sell, but with generic rounds, you're obviously starting at a much lower entry point.
So, for those of you who have wrestled with this, especially within an IRA context where everything is a bit more rigid, what's your experience? Are the generic rounds like Buffaloes or even just plain bars considered “good enough” for an IRA, and do you feel the lower premium outweighs the lack of government backing? I’m consistently adding to my holdings, usually a few thousand a month when I can, and I’m trying to optimize for long-term growth and protection. Any insights, especially regarding selling generic rounds back to custodians/dealers from an IRA, would be super helpful.