I'm young and have only had one job (for 8 months before laid off) that offered any benefits like that. I have it in an IRA right now (only like 1k so nothing to crazy). I am making steady income now without 401k, so each month I have been going to a coin store and buying silver "junk" coins (coins that are in non-collector shape) any pre-64 dimes and quarters and half dollars, are 90% silver. This is my current contributions into my retirement, or if the dollar collapses completely then I will still have the silver content.
Not only is it a decent investment, it's fun to see the old coins that my grandparents used to use!
However, if you are getting an employer to match what you contribute, it would be pointless to not contribute the full amount as your employer is giving you a premium. While you might take a hit, if you are getting 6% matched from the employer, the stock or IRA would have to take a greater than 6% hit for it to be worth while in investing in something tangible.
Once again, these are just my thoughts and they might be idiotic but each persons' situation will dictate what they should do.
I would keep investing in the IRA if you are getting an employer to match.