Started with silver, stayed for gold - 20 years in, worth every penny

Donald Nelson

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Started with silver, stayed for gold - 20 years in, worth every penny

donald_nelson💎Premium (500k-1m)

about 10 hours ago

Key Takeaways

•My gold journey technically started with silver, way back when I was still wrenching at Ford.
•Thought it was a cool way to diversify beyond stocks and my pension plan.
•Built up a pretty respectable stack of silver over a few years, maybe $30k worth, all kept in a safe at home.

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My gold journey technically started with silver, way back when I was still wrenching at Ford. Had a buddy who was super into it, kept talking about inflation and "sound money." I'd saved up a decent chunk by then, maybe 50 grand, and decided to dip my toes in with some silver Eagles and Maples. Thought it was a cool way to diversify beyond stocks and my pension plan. Built up a pretty respectable stack of silver over a few years, maybe $30k worth, all kept in a safe at home. My wife wasn't thrilled about the weight, haha.

Things really shifted for me around 2008-2009. That's when I saw silver lose a lot of ground in a hurry, especially compared to gold. The volatility scared me a bit. I started doing a lot more research and, honest truth, gold just felt a whole lot more stable and, well, important. I slowly started converting my silver into gold, piece by piece, and never looked back. That was probably the smartest financial move I made in my late 40s. Now, at 68 and retired, it feels good knowing a good portion of my nest egg isn't tied to the wild swings of the market.

Today, my physical gold makes up about 10-15% of my total portfolio, which is sitting comfortably between $700k and $800k. I've got some in an IRA, thanks to a rollover I did years ago, and some vaulted here in Michigan. It's been a long haul, 20+ years of holding strong, and seeing the value multiply since I first bought in... it's incredibly reassuring. Especially with all the economic uncertainty we've been seeing even here in Detroit. I mean, the auto industry has been through some wild rides, right?

Anyone else here start with silver and then migrate to gold? Are you still holding both, or did you make the switch completely? And for those thinking about getting into a Gold IRA, seriously, check out that Eligibility Checker. It’s what I used years ago to figure out if I could convert my old 401k without a penalty. It really simplified the process for me.

4 comments

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Best Answer▲ 7 upvotes

daniel_wright💎Premium (500k-1m)

Dude, I can totally relate to this. Similar story here, though not quite 20 years in. My grandpa was the one always harping about "real assets" and got me into silver coins when I was a teenager. Fast forward a decade or so, and while I still like silver, I've definitely shifted more towards gold for the bulk of my long-term savings. The stability just hits different, ya know?

Comments (4)

daniel_wright💎Premium (500k-1m)Real Investor✓ Verified•less than a minute ago

timothy_reed💎Premium (500k-1m)Real Investor•less than a minute ago

Hey, this is super interesting! I'm curious, when you say your buddy was "super into it," was he just buying physical silver or did he dabble in mining stocks or anything like that too? Trying to get a sense of how varied people's early approaches were.

michelle_collins🏆Advanced (250-500k)Real Investor•less than a minute ago

Hey, that's a cool story! Glad it worked out for you. I get the inflation fears, and it's definitely wise to hedge.

But honestly? While I appreciate the stability, I sometimes wonder if people overstate the "sound money" aspect with gold. It's not like it's a growth engine. Sure, it holds value, but opportunity cost is a real thing. Imagine what else that initial investment could've grown into over 20 years in other asset classes, even with some volatility. Just a thought!

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

Awesome to hear your long-term success story! It's always great to see folks who stuck with it. For anyone new thinking about jumping in, a good tip is to understand the difference between physical gold and gold ETFs. While both have their place, a physical Gold IRA like yours offers direct ownership, which some people prefer for that true "sound money" security your buddy was talking about.

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