Thinking seriously about silver coins for recession-proofing - anyone else?

Sharon Evans

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🥈 Silver Coins

Thinking seriously about silver coins for recession-proofing - anyone else?

sharon_evans💰Established (100-250k)

about 8 hours ago

Key Takeaways

•The execs are definitely tightening their belts, and it's making me wonder if my Gold IRA is enough.
•My concern is specifically around the idea of tangible assets, and I'm leaning heavily towards silver coins.
•Plus, it's just a lower entry point than gold, and I could accumulate a decent amount without breaking the bank.

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I've been watching the news lately, and combined with some of the chatter I'm hearing at work (I'm a secretary for an oil company here in Tulsa), I'm getting a bad feeling about a potential recession. The execs are definitely tightening their belts, and it's making me wonder if my Gold IRA is enough. I started it a few years back after hearing them talk extensively about portfolio diversification, and it's been a solid performer for me with about $180k in it right now.

My concern is specifically around the idea of tangible assets, and I'm leaning heavily towards silver coins. I already have a bit of physical gold at home, but thinking about smaller denominations, silver seems to make more sense for any potential day-to-day transaction if things really went south. Plus, it's just a lower entry point than gold, and I could accumulate a decent amount without breaking the bank. I'm not talking about replacing my 401k or anything, just adding another layer of security outside of stocks and bonds.

Has anyone here primarily focused on silver coins for their recession-proofing strategy? What types of coins do you prefer – American Eagles, Canadian Maples, or something else? I'm trying to decide between fractional ounces or full one-ounce coins. Also, for storage, I'm thinking about a good home safe for convenience, but also considering a safety deposit box for a portion. What are your thoughts on that?

I actually used that Gold IRA Calculator last week to run some projections and see how a hypothetical silver allocation would look compared to my current gold holdings within an IRA, and it was pretty eye-opening. It made me realize how quickly even smaller amounts can add up. Just curious if others have used it for similar planning. Would love to hear your experiences and any advice you might have on going deeper into silver for this specific purpose.

3 comments

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Best Answer▲ 10 upvotes

robert_thompson💰Established (100-250k)

Hey there! I get the feeling, things are definitely a bit shaky right now. But when it comes to recession-proofing, have you looked beyond just silver coins? While silver has its place, some folks argue that a more diversified approach, maybe even including some of those "less exciting" but historically stable assets, might offer better protection. Just a thought to chew on!

Comments (3)

jason_morgan💰Established (100-250k)Real Investor✓ Verified•less than a minute ago

Totally get where you're coming from! My dad actually did something similar back in '08 with some gold and silver. Said he just had a gut feeling things were gonna get hairy. He ended up selling some of it a few years later when things picked back up and made a decent profit. It wasn't life-changing, but it definitely eased his mind during a stressful time. Good luck with your research!

laura_sanchez💰Established (100-250k)Real Investor✓ Verified•less than a minute ago

Interesting thought process, OP. When you say "silver coins," are you specifically referring to government-minted bullion coins like Eagles or Maples, or are you also considering generic rounds?