Sprott Physical Silver Trust PSLV Shows Us Times Are Changing
The PSLV-NY chart for the Sprott Physical Silver Trust speaks volumes of growing interest in physical silver.
From less than 20 million (M) shares traded per week to 200M shares traded per week in the most recent week.
Note that these shares are redeemable for silver bars in 10,000 oz. tranche increments.
Is PSLV going to become an important source of physical silver when the London spot/cash market for silver seizes up? Post your thoughts below.
Figure 1 - Sprott Physical Silver Trust (PSLV-NY) Weekly Price Chart; source - StockCharts.com
Best regards,
David Jensen
The Sprott physical silver and gold ETF's are by far, the best derivatives. As noted, any investor who has sufficient shares equal to the spot price of a 1000 ounce bar of silver, currently about USD 33k can redeem it in physical. Compare this to the ETF's GLD and SLV where only giant corporation can redeem their shares in physical, which apparently many are actively doing. Furthermore GLD and SLV are run by three of the biggest malefactors on the planet; JP Morgan, HSBC, and Blackrock. Eric Sprott has a long standing reputation in the industry for integrity. The Sprott gold ETF's offer the following advantage over physical for the retail investor of very limited means to avoid the currency debasement as a share is running a lsomewhat over USD 20, while the minimum purchase of physical gold at a price close to spot is for a one ounce coin in the range of USD 3300. However, all that said, there is no substitute for investing in physical when TSHTF.
Seems a logical conclusion.