I am setting up a (Self Managed Super Fund) SMSF and will probably get into "PMGold" via the ASX. I was just wondering if there was an equivalent option for silver? PMSilver? If not, what is a good way to invest in silver via the ASX?
Oh by the way wats the basic info to set up a SMSF? Is there a minimum investment, can that minimum investment be spread over 4 family members? Im hearing mixed info.
As hiho said, ETPMAG. It is disappointing not to be able to get PM silver via the ASX, but thats how it goes. I held some ZAUWBA for a short time before I liquidated and moved to physical away from the ASX. I know the ASX is convenient and as long as you understand the risks and realise that you will probably never get the physical metal backing it (with the exception of ZAUWBA) then its fine. I still hold some GOLD on the ASX, but it is a trading instrument only and in no way do i ever think I will get the physical. It is a little bit more difficult to get physical, but if you are looking at it from a security point of view, get an allocated account at the Perth mint. If its a shorter term trading position, go for your life.
PMGOLD is backed by the Perth Mint, so if you are comfortable holding an allocated holdings with the Perth Mint than you should be comfortable holding a PMGOLD contract. If SHTF big time and you can't convert your PMGOLD contracts to physical than I'm pretty sure you won't be able to get your hands on an allocated account as well. Holding your own physical gold is the only sure way of knowing that you will actually get to see your gold. But this has security risks as a downside but can be mitigated.
Indeed. If I bought PMGOLD or ETPMAG, it would be for short-term trading purposes only. Plus it would be with cash I'd be prepared to lose in SHTF. Lately the swings have been good for making profits on the small movements, but obviously it's not worthwhile without lots of cash. And using leverage is a no-no
Thanks everyone, that all sounds like good advice. PMGold is just liquid and convenient for short term trading purposes. Gold and silver seem like a no brainers investment for at least the next couple of years. I will go and check out this ETPMAG.
Has anyone done their Homework on ETPMAG and PMGold or any other ETF to see if they actually do hold the Gold and Silver they say and How safe they are Do they show proof they hold what they say Has anyone had their Solicitor go through the "fine print" to see if there are any out for the ETF so they don't have to pay you if they go bankrupt I live offshore so "cannot" have SMSF So the above seem to be my only Option
