That is still an enormous amount of silver. The GLD currently holds over 39 million ounces of gold valued at $55.5 billion. //
It may therefore take some time before it appears on our website. Copies of the Canadian prospectus related to this Offering may be obtained by contacting RBC Capital Markets, Attention: Distribution Centre, 277 Front St. W., 5th Floor, Toronto, Ontario M5V 2X4 (fax: 416-313-6066) or Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, New York 10014 Attention: Prospectus Department (telephone 866-718-1649 (toll free) or 917-606-8474) or by e-mailing prospectus@morganstanley.com.
Replace the attached chart with a new chart ? He says it took them a year to obtain the $1 billion worth of the physical silver which the basis of the PSLV. This news release does not constitute an offer to sell or a solicitation of an offer to buy the Units, nor shall there be any sale of the Units in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The PHYS fund is managed by Sprott Asset Management based in Toronto, Canada. Your status will be reviewed by our moderators.
The very small discount or premium on the GLD is due to the complex manner in which the fund is structured. The Offering in Canada is only being made by the Canadian prospectus, which includes important detailed information about the Units being offered. Thus, those with physical metal know that they are holding value, while the current paper market in which traders pass back and forth many multiples of paper metal with little physical backing is an absolute farce. Tagged physical gold, physical silver, Sprott Physical Gold Trust, Sprott Physical Silver Trust.
The Canadian PMX expects to have one ounce physical coins including silver American Eagles, Silver Rounds, Maple Leafs, Philharmonics, and bars; and 1 oz gold Maple Leafs, bars, and Philharmonics only by the middle of January. The PHYS holds 99.5% of its assets in physical gold bullion stored at the Royal Canadian Mint in Ottawa, Canada. Gold & Silver > Sprott Physical Gold Trust (PHYS) Sprott Physical Gold Trust (PHYS) + A; A-A; Login or register to post comments 8619 reads 1 posts. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion. Net investment gains on the PHYS could result in a 13% higher return than an equivalent investment in a gold ETF. Premiums or discounts on the GLD, however, are extremely small, typically ranging only plus or minus 0.5%. July 17 (Reuters) - Sprott Physical Silver Trust PSLVu.TO : Send PM. Now this should help explain why investor grade bars and coins are not available at bullion stores–the price is manipulated too low. What is your sentiment on Sprott Physical Silver? Wed, Feb 20, 2013 - 04:09am #1. switters.
The transactions of the Authorized Participants can result in significant changes in gold holdings by the GLD . The PHYS holds over 820,000 ounces of gold valued at $1.18 billion. In the extremely unlikely event that all units were physically redeemed, an investor’s tax rate would still be no higher than the 28% rate that applies to an ETF.
The premium has at times reached a substantial 24%. The GLD has a complex mechanism by which shares can be “created or redeemed” by the GLD Trust via Authorized Participants. The GLD prospectus notes that the gold held by the Trust is specifically allocated to GLD and that the allocated gold bars “are not a part of the bankrupt’s estate in the event of the bankruptcy of the Custodian”. Sprott Physical Silver Trust Prices Follow-on Offering of Trust Units In An Aggregate Amount of US$269,575,000. The Trust does not invest in gold certificates or other paper instruments. Tagged David Morgan, SLV, Sprott Physical Silver Trust, If I am a rich capitalist pig it is my wife's fault.
After witnessing the failure of very large banks in 2008, investors may be more secure with a Government custodian. %USER_NAME% was successfully added to your Block List. * SPROTT PHYSICAL SILVER TRUST - MAY OFFER FROM TIME TO TIME DURING 25 MONTH PERIOD UP TO $1.5 BILLION OF TRANSFERABLE,... June 21 (Reuters) - Sprott Physical Silver Trust PHSu.TO : * Sprott Physical Silver Trust files for shelf of up to $1.5 billion of transferable, redeemable trust units - SEC... We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. TORONTO, Nov. 8, 2012 /CNW/ – Sprott Physical Silver Trust (the “Trust”) (NYSE: PSLV) (TSX: PHS.U), a trust created to invest and hold substantially all of its assets in physical silver bullion and managed by Sprott Asset Management LP, announced today that it has launched a follow-on offering (the “Offering”) of transferable, redeemable units of the Trust (“Units”). Are you sure you want to block %USER_NAME%? The Trust will use the net proceeds of the Offering to acquire physical silver bullion in accordance with the Trust’s objective and subject to the Trust’s investment and operating restrictions described in the prospectus related to the Offering. He stresses, then, that SLV is great for increasing awareness in silver as an investment and it is fine for trading a silver position, but no one should see it as their basic silver position. As with any closed end fund, the net asset value of the PHYS can trade at a discount or premium to the market value of gold held by the trust. When you final came to the front of the line, they might be selling left shoes size ten, and you would buy them, as many as you could, because you never knew when you might have another chance to buy something.
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