Why I decided to add silver coins to my gold IRA

Karen Robinson

Back to forum

🪙 Gold Coins

Why I decided to add silver coins to my gold IRA

karen_robinson💼Starter (0-50k)

about 2 months ago

Key Takeaways

•I’ve been lurking on this sub for a bit, soaking everything in as I started my own gold IRA journey.
•I’m a teacher here in Columbus, and honestly, the thought of retirement has always felt a little… distant.
•But with the way inflation has been chewing into my regular savings, I finally bit the bullet and opened a Gold IRA a few months ago.

See what your 401(k) could look like in gold

I’ve been lurking on this sub for a bit, soaking everything in as I started my own gold IRA journey. I’m a teacher here in Columbus, and honestly, the thought of retirement has always felt a little… distant. But with the way inflation has been chewing into my regular savings, I finally bit the bullet and opened a Gold IRA a few months ago. Started small, just under $20k with American Gold Eagles, mostly because that’s what everyone here seemed to recommend for beginners.

Anyway, I was chatting with a friend who’s much more into precious metals than I am, and she totally opened my eyes to silver. I was so focused on gold, almost to the exclusion of everything else. She made a good point about diversification, even within precious metals, and how silver’s got a lower entry point per ounce, meaning more "bang for your buck" if you're like me with a smaller portfolio. I mean, my entire IRA is under $50k right now, so every dollar counts.

So, after doing some more research (and honestly, playing around with the Eligibility Checker on Gold IRA Blueprint a few times to make sure I even could add silver), I decided to pull the trigger. I recently added about $5k worth of American Silver Eagles to my account. It feels good to have a bit more variety in there, and the idea of silver potentially having more growth potential in the shorter term (even with its volatility) is pretty appealing. Anyone else here started with gold and diversified into silver later? What were your reasons?

143

6 comments

Considering a Gold IRA for your retirement?

Get a free info kit from a top-rated company — trusted by thousands of investors.

Under $100k? Compare options →

514 people viewed this today68 members requested a free kit this week102 investors bookmarked this

Best Answer▲ 9 upvotes

joseph_harris📊Growing (50-100k)

Hey, that's interesting you went with silver coins for your IRA. I was under the impression it was mostly bars or rounds for silver within an IRA. Did your custodian have specific requirements for the coins, or was there a particular reason you opted for coins over bars?

Comments (6)

david_brown💎Premium (500k-1m)Real Investor•about 2 months ago

Hey, I totally get where you're coming from. I did something similar a few years back with my Roth IRA. Had a chunk in gold, but then the silver prices dipped, and I thought, "Why not diversify a bit more?" Felt good spreading it out, especially with all the economic uncertainty floating around. Glad to hear you're thinking proactively about your future!

joseph_harris📊Growing (50-100k)•about 2 months ago

charles_lewis💎Premium (500k-1m)Real Investor•about 2 months ago

Hey, totally get the inflation worry, it's real. But I'm a little surprised you went with silver coins for your IRA. Aren't proof coins or even just bars generally better for an IRA given the spreads and liquidity? With coins, you're often paying a significant premium over spot, and then when you sell, you're hoping to recoup that or more. Just something to consider for long-term growth vs. collectible value.

joshua_phillips🏆Advanced (250-500k)Real Investor✓ Verified•about 2 months ago

That's smart to diversify within your precious metals IRA! Silver definitely has its own unique market dynamics compared to gold. One thing I found super helpful when looking at different silver options was checking out reputable dealer sites that break down the premiums on various coins and bars. It can vary quite a bit, even for the same amount of silver.

For example, APMEX's silver spot price page often has good info on current pricing and premiums for different products. Knowing those premiums helps make sure you're getting the best value for your investment dollar!

mark_adams👑Elite (1m-5m)Real Investor•about 2 months ago

Totally agree with this! I actually did the same thing with my Gold IRA a few months back. My advisor originally just set me up with gold, but after doing some more research and seeing some of the arguments on this sub, I decided to diversify with some silver coins too. It just felt like a more balanced approach, especially with the current economic climate. Glad to see others are thinking similarly!