Overpriced PSLV Is a Negative Portent for Silver’s Price.

Where are the Sprott Physical Silver Trust’s customers yachts?

This investment vehicle, U.S. stock symbol PSLV, is basically a closed-end fund. Its current asset value is $650 million.  PSLV owns physical silver and earns a large guaranteed income for Sprott vehicles that charge somewhere near 1% yearly simply to hold the silver.  Anybody who thinks this at its core is a good deal for investors is mistaken.  Shares in the trust trade actively, with small bid-ask spreads that appeal to day traders.  The Trust is cleverly structured so that long-term gains are taxed at preferential rates in the U.S. under current law, as opposed to “commodity” tax rates that apply to gains in such vehicles as SLV, GLD and CEF.Read more.