Do you trust SLV?

Question

I&#x27;m sure most ppl here are aware of the questions about whether or not the ETF is actually backed by physical silver and I&#x27;m just wondering where you stand on this issue, and if the questions are enough to make you shy away from buying in. Personally I think its pretty concerning given Morgan Chase&#x27;s history of deception.

IronCobra · Answer

I&#x27;m sure most ppl here are aware of the questions about whether or not the ETF is actually backed by physical silver and I&#x27;m just wondering where you stand on this issue, and if the questions are enough to make you shy away from buying in. Personally I think its pretty concerning given Morgan Chase&#x27;s history of deception.

PALLADIUM · Answer

I don&#x27;t completely trust anything paper but if you want a position in Silver then SLV provides convenience and liquidity.  They provide serial numbers to thesupposedly vaulted silver but who knows. I have seen that many Bullion dealer have silver priced above spot price reflected by SLV.  My thing is at roughly 11 bucks if I were to buy physical coins or bars it would have to be a pretty big brick of silver to be worthwhile.  If you see a good deal of coins especially old ones with antique factor trading near spot let me know.

IronCobra · Answer

[Quote: Originally Posted by PALLADIUM] I don&#x27;t completely trust anything paper but if you want a position in Silver then SLV provides convenience and liquidity.  They provide serial numbers to thesupposedly vaulted silver but who knows. I have seen that many Bullion dealer have silver priced above spot price reflected by SLV.  My thing is at roughly 11 bucks if I were to buy physical coins or bars it would have to be a pretty big brick of silver to be worthwhile.  If you see a good deal of coins especially old ones with antique factor trading near spot let me know.&#xD;&#xA;&#xD;&#xA;[/Quote]If you&#x27;re looking for silver coins you should check out "the Silver recycling Company." They produce 1 ounse coins and 100 ounse bars and generally deliver within the month which is rare these days. Prices are pretty close to the spot price. Here&#x27;s a link that highlights some of the potentially misleading statements made in Slv&#x27;s prospectus.&#xD;&#xA;https://www.financialsense.com/editorials/rubino/2007/0410.html

rubberneck · Answer

XSD is better for now

whereismyhat · Answer

I bought some SLV today

TDD · Answer

There is a famous quote among precious metal fans.&#xD;&#xA; &#xD;&#xA;"If you don&#x27;t hold it, you don&#x27;t own it"&#xD;&#xA; &#xD;&#xA; &#xD;&#xA;I&#x27;ll save you the rant about Comex.&#xD;&#xA; &#xD;&#xA;My advice is to buy physical only.

IronCobra · Answer

Obviously physical is better, but I&#x27;m only looking to hold for two years max, hopefully less so buying bars and coins isn&#x27;t really that atractive to me. Not to be an ass but I&#x27;m not looking for a debate between funds or physical, I&#x27;m just interested in how people feel about SLV specifically. Thanks

Do you trust SLV?

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