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Eric Sprott Gets License for Physical Silver Fund
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Thread: Eric Sprott Gets License for Physical Silver Fund

  1. #1
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    Nov 2009
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    Default Eric Sprott Gets License for Physical Silver Fund

    This came out yesterday (courtesy of Harvey Organ). Once this fund is running it will be needing to buy a whole lot of silver........................

  2. #2
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    Apr 2009
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    Default

    Quote Originally Posted by Edmund Law View Post
    This came out yesterday (courtesy of Harvey Organ). Once this fund is running it will be needing to buy a whole lot of silver........................
    I have a question that I am naive about.....do these metal ETFs need 100% coverage in terms of their inventory:shares?
    Or are they allowed to operate with the same kind of rules as a bank -- a 10% reserve?

    Thanks.
    Caedite eos.

  3. #3
    Join Date
    Apr 2010
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    sprott's gold and silver fund will be 100% backed by gold and silver........there company has already stated this numerous times.........

    Everyone will flock to sprotts gold fund and silver fund, because everyone is scared of all the other crap ETF'S...........

    This is huge, and you can basically chalk up another 100 million ounces off the market, cause this fund will grow like there is no tomorrow........

    (or to put it into layman's terms, one of the hunt brother's just entered the game and bought at least 100 million ounces of silver........)

  4. #4
    Join Date
    Apr 2009
    Posts
    452

    Default eric sprott

    sounds like everyone will move thier investments to him and the crap ETF's will have to change thier models to fit his so they can have thier piece of the pie. Depending on how fat things move this will drive prices up. I do see when the crash happens and housing comes down we will have commodities gold/silver buy time cause prices will come down with the stock markets temporarily before a flight to new highs not seen before.
    of one mine

  5. #5
    Join Date
    Nov 2009
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    Default

    as info, the website for Sprott's physical gold trust has a list of every bar with its serial #

    link to pdf
    http://www.sprottphysicalgoldtrust.c...005-OCT-10.pdf

  6. #6
    Join Date
    Jun 2008
    Location
    Bay Area, CA
    Posts
    1,373

    Default

    My assumption, then, is that the bars PM will need to be from a COMEX approved brand?

  7. #7
    Join Date
    Dec 2009
    Location
    Chicago
    Posts
    4,376

    Default

    Quote Originally Posted by maplesilverbug View Post
    I have a question that I am naive about.....do these metal ETFs need 100% coverage in terms of their inventory:shares?
    Or are they allowed to operate with the same kind of rules as a bank -- a 10% reserve?
    Thanks.
    The answers to this question are all over the place depending on the ETF itself. What is necessary is to read each prospectus with a fine tooth comb to determine what exactly the rules are that they are required to follow regarding specific ownership and allowable variations. From what I have seen, some of the ETFs look like fine investment vehicles, and some look like houses of cards built solely to attract the unwary. I haven't read the Sprott prospectus personally, but from what I have heard it should closely track cash silver as it is supposed to be quite tightly written.

    Matthew C. Shelley
    Commodity Broker

    As always: Trading in futures and options is very high risk investing. You can lose all or more of the money you invest. Only risk capital should be used.

  8. #8
    Join Date
    Jan 2010
    Posts
    737

    Default

    Better LATE to the party than never arriving.
    CEF and SBT.U (US) and SBT.UN (CA) have been doing this. Plus they inventory the bullion twice a year not just annually.
    Sprott appears to be allocating a higher percentage of the total net worth though.

    I am INVESTED CEF. I do like Sprott and listen to him when I have a chance. DYODD.

    One thing I like is the more physical these funds acquire the less paper and digital Au / Ag can be justified. Hopefully, they cut down on creative accounting practices of COMEX and other places.
    Last edited by Goldbrix; 20th October 2010 at 14:24.
    Gb

    LUCK favors the PREPARED darling. - "Edna Mole"

    ATTENTION Liberals and Progressives - The path to HELL is paved with good intentions.
    ( The USA is certainly spiraling in that direction)

    "The future ain't what it used to be". - Yogi Berra

    .

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