Worried about a recession - thinking of adding silver to my IRA?

• •I've been watching the economic tea leaves and honestly, things aren't looking great.
• •My portfolio is mostly in diversified ETFs and some individual stocks, and obviously, it's been a wild ride this past year.
• •I'm a professor here in Richmond, so I tend to be pretty research-heavy before making major moves.

I've been watching the economic tea leaves and honestly, things aren't looking great. The whispers of a recession are getting louder than just whispers lately – more like a full-blown conversation amongst my colleagues in the economics department. My portfolio is mostly in diversified ETFs and some individual stocks, and obviously, it's been a wild ride this past year. I'm sitting on about $350k right now in my IRA, and while I’ve got some gold exposure through ETFs, I'm seriously considering directly holding some physical silver within a Silver IRA.

My thinking is that gold is a great hedge, but silver offers a bit more upside potential given its industrial demand, especially with the green energy transition. If we do hit a recession, I imagine inflation could still be a beast, and a tangible asset like silver feels like a more secure bet than just more paper assets. I'm a professor here in Richmond, so I tend to be pretty research-heavy before making major moves. I've been poring over historical data on silver's performance during downturns and it's certainly compelling, though not without its volatility, of course.

Has anyone here gone the route of a dedicated Silver IRA? What was your experience like setting it up? I’m particularly interested in hearing about custodian choices and storage solutions. The idea of having a physical asset sitting there, separate from the banking system, is really appealing given the current climate. I'm looking beyond just a quick speculative play – this is more about long-term wealth preservation and hedging against macro instability.

Are there any pitfalls I'm not considering? I know the premiums and storage fees can eat into returns, especially on smaller allocations, but I'm thinking of dedicating around 5-10% of my IRA to it. Any thoughts on specific types of silver to acquire (e.g., coins vs. bars) or particular dealers that are known for fair pricing and good service for IRA investments? Thanks in advance for any insights – always appreciate the collective wisdom here!