There are many more experienced members here to give you advice but I'll throw my two pence in.
I'm relatively new to precious metals and I initially started out with a view to buying more silver. This was due to thinking there's more potential for a rise in value. I have since changed my view on things and feel gold is a much better proposition, both short and long term. This is mostly down to the VAT we pay on silver, although premiums are much higher too.
Don't get me wrong, I love silver and will continue to buy the odd bit, but I'd rather spend £50(ish) on a gram of gold than 2oz of silver.
Having said that, my recent purchases of silver have been silver shot because I do a bit of pouring.
20oz of silver is a great start, but if it were my money, the next 80oz you want to reach your target would be going on 5 or 6 sovs instead.
This is despite me not particularly liking the colour of sovereigns, however, for the reasons mentioned previously, they're the best bet.
I've tried (and still am) selling a number of odd coins and can have real difficulty doing so.