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el Gallinazo's avatar

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.

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David Jensen's avatar

I suspect large funds are positioning themselves in preparation to take delivery from the PSLV.

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Newsbrain's avatar

David, what could potentially happen to the PSLV price if that is the case? The asset or market price drops if the physical silver gets pulled? Or does Sprott replace it with new scarce physical, driving the price higher? I am not fully understanding this dynamic and would welcome your expertise. Thank you.

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David Jensen's avatar

Best to ask Glen Williams at Sprott - he is very helpful: https://sprott.com/investor-relations/

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Craig Scratchley's avatar

A PSLV owner has already paid money. They can either hold units, sell their units (or whatever that is called), or take their silver if they have enough units. There is a fee to take silver as I recall. If people are pulling silver a lot, probably others are buying their own units in order to pull their own silver. I would guess silver going up in price globally in this scenario.

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Oz HillBilly's avatar

Does Sprott actually have the physical silver or is this more paper??

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Craig Scratchley's avatar

As I recall, the silver ends up at a vault of the Canadian mint. So they have the physical silver.

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Peter Jackson's avatar

Seems a logical conclusion.

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Paul Repstock's avatar

Alistair McLeod touches on the elephant in the room, but does not develop the logical conclusion:

The Trillions of Public Debt at some point become Private Debt. All of the Government Debts are piled on top of the existing Private Debt when the Government Debts are nolonger serviceable. At that point the Currency itself becomes instantly worthless and irrelevant. For some period of time, Government employment, specially in the Police Enforcement sectors will be some security because those maintain Government Power. But, eventually that will diminish when the Looting is complete.

Since 99% of the citizens are either Mortgaged or otherwise Enslaved by debt, the banks have fulfilled the enforcement role up to this point; the best evidence of this power is the number of people who were compelled (against their will) to accept the Covid shots, or lose their jobs.

The Private Debt keeps the system going so far. The moment Currency becomes diluted to worthlessness, and cannot satisfy Debts, then there is no more reason to work. Please don't expect a "Debt Jubilee"! Rather; Expect," You will own nothing and be happy." (If you can find enough food to eat?) A 'Diverse basket' of "Unencumbered assets" may help???

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David Jensen's avatar

When the debt markets have a heart attack so will the debt-based fiat currency.

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Mike Hardwicke's avatar

100% agree. I'm mostly into Gold and Silver having sold my house and left Britain 10 years ago. Thinking of going fully into G&S now the Financial markets are turning. I think we're not far away -12 to 18 months once folk realise that Trump is no saviour. Most of my boomer peer Brits back in yUK seem to be asleep or brainwashed, and ignorant of the historical fact that Marxism kills... millions!

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Linda O's avatar

That's why the criminal banksters couldn't print enough fiat for ludicrous Pandemic accoutrements and the Cares Act or give it way fast enough to the two primary war 'theatres', Ukraine and Israel, which are both connected, of course.

They spend all their time and energy dreaming up ways to launder money - but in the end the dirty debt will be heaped up high on the hapless citizens.

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Paul Repstock's avatar

"but in the end the dirty debt will be heaped up high on the hapless citizens."

We, the citizens, share the guilt. Nobody ever refuses government money, and then seeing it as "Earned" we go out and "Borrow" more???? The Piper will be paid somehow.

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Linda O's avatar

Speak for yourself. I don't receive 'government money'.

I wasn't paid hundreds of millions for PPE - nor did I collect a salary to stay at home and drink wine in the garden. In fact I didn't partake in the Lockdown 'at all' - including wearing a rag over my mouth.

I don't support any war and certainly not those two - which are essentially the same 'team'.

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Nathan's avatar

Its taken me 4 months to slowly move all my silver and gold from my SIPP and ISA ETCs to physical metal stored with bullion dealers and privately.

Not possible to store at my home, next best thing feels much safer than in the ETCs

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Mike Hardwicke's avatar

Midnight gardening - assuming you have a garden?

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Bruce Fox's avatar

Why get dirt and dirty burying your silver? Stuck some large bars under my wooden deck.

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Mike Hardwicke's avatar

Interesting - AJ Bell refused to allow me physical reclamation (PSLV), and it was a substantial amount. I'd be interested to learn more of your experience/process.

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Nathan's avatar

Mine was AJBell funny enough, and the PM (Silver) value of it was by pure chance exactly 25% of the total fund, which I took as my tax free lump sum.

The rest is still sitting in AJBell, invested in various shares, and I intend to draw down a certain amount each year to part fund my retirement.

The rest was done by selling from my ISA and investment accounts, (Where I had accumulated quite a large amount of SSLN and SGLN since 2021) and buying physical £15K at a time, waiting a week for each withdrawal to be received before doing the next £15k lol

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Mike Hardwicke's avatar

That's very interesting. I'm assuming you took the Physical Silver from Sprott (I was told it wasn't allowed)? If so I will raise the issue with AJBell tomorrow since, being an expat with NT status these past 5 years, I wish to clear all of my wealth from the UK before Rachel Reeves steals it! (Sold my house 18 months ago and hope never to return - though I do miss the people & the humour).

I apologize for being so negative about my (our?) homeland :-/

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Nathan's avatar

No, I held Blackrock Ishares physical silver and gold ETCs, sold them, and withdrew the £££. Once it hit my bank I purchased physical silver coins, that are stored with my bullion dealer (Chards in the UK)

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Paul Repstock's avatar

I go round about to avoid casual attention. I don't even know if you will see this? Would you be amenable to exchanging emails? I would like to know more about what is happening in Britain than the Media (or alternative media) would ever tell me?

Paul

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Paul Repstock's avatar

Good move Nathan! Diversified storage gives more security.

Plastic jars are also a good option, and are not subject to confiscation?

Are you also a Prepper?

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David Jensen's avatar

If you own metal, you are are a prepared for a chaotic landscape by definition.

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Mike Hardwicke's avatar

Aren't you, given that it's the ETF and ETCs that governments will raid first?

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Paul Repstock's avatar

LOL David: I sometimes fear that I epitomize the fellow who tries to prepare for everything, and predictably ends up 'unprepared for that thing which eventually lands on my head.....D

However, I theorize that having a bit of everything, means I will never be totally broke?? There are many "Flavours of Chaos."

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David Jensen's avatar

Love and take care of the people around you. We are all going to have to take care of each other in the time ahead. No man is an island.

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Nathan's avatar

Im not a prepper as such, I have a few months food supply stored, but living in London UK if London goes a week without food/water, it will be game over for where I live!

Im lucky enough to have seen the world, travelled loads, if the end comes soon so be it, had a good innings!

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Paul Repstock's avatar

I like your attitude Nathan. btw. I don't think London is much more 'Fragile' than any large urban centre in the modern world; no different in Canada. "Just in time supply chains" and mindsets have doomed us. I'm not a rabid prepper either, I've just lived in remote locations all my life (Without ready access to supermarkets.)

All I suggest to speculators, is that they take their first oz. of gold or their first 100 oz, silver, and put that value towards a stockpile of nonperishable food while that is available and cheap?

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Bruce Fox's avatar

PSLV is the largest paper silver investment I own and it’s held in my JP Morgan Chase investment portfolio. I also have all 5200 shares entered in laddered sale orders from $12 to $18 so hopefully no one or bank can “borrow or use them.” They are taken!

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Pascal Charpentier's avatar

When I entered the fund 4 years ago there was 3 millions a day trading, now

on some good days 12 times more. The thing I can't explain is why is the PSLV silver piles is stuck at 180.6 millions onces for the last 2 months?

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Jochen's avatar

Alisdair McLeod has noticed an interesting phenomenon: if you compare the stood-for-delivery contracts on COMEX with the actual outflows from the COMEX warehouses, the outflows amount to just 50% of the stood-for-deliveries. This could be due to two reasons: 1. the stood-for-deliveries were just changes of ownership and the gold just stayed where it was. 2. Some people who took delivery are still waiting for their gold because it simply wasn't there - which would mean any liquidity entering the market is already spoken for. Silver is the same story.

Maybe someone thinks PSLV is a far safer bet to get physical than the COMEX.

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David Jensen's avatar

Personally, I would take delivery from PSLV as I trust that far more than COMEX warrants.

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Mike Hardwicke's avatar

I have 50/50 in my hand and Kinesis (plus some SPROTT on top).

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Mike Hardwicke's avatar

I understand from Alasdair M's recent podcast that a recent SPROTT PHYS redemption took some 9 months though I'm not sure with whom the physical was vaulted?

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Ol' Doc Skepsis's avatar

"Is PSLV going to become an important source of physical silver when the London spot/cash market for silver seizes up?"

It will, IF they really have the phyz.

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Paul Repstock's avatar

Supposedly, every PSLV unit is matched by physical silver? So when the existing units are redeemed, there should not be much if any, remaining silver in that vault???

Except for 'Daytrading' purposes, I don't see any reason to take the risk?

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David Jensen's avatar

I think it all good and that there is going to be a run on PSLV as the London paper vapor notes show themselves to be what they are. The problem will arise later (but perhaps not much later) when the leveraged debt market infarction hits. Then the asset grab by the banks will be on as David Rogers Webb warns in his video discussions.

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Paul Repstock's avatar

Lets hope we never get to that point. Greed leads to 'very Uncivilized Behaviour'!

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