not sure an ETF will do much since it's been so widely known,... It may lead to some bizarre arbitrage that will make the COT reports more or less a non event.... like the gold ETF is causing a long GLD : short XAU or HUI trading pair...... no other reason the gold equities aren't moving.... watch out what you wish for....................
I bought 500 Silver Eagles last week -- i tell you -- it's a bear to carry 500oz of coins -- the postman was asking me what the heck was in the package. I of course lied that it was an auto body part. Anyway, buying that many silver eagles-- that's probably either the most idiotic thing I did, or the smartest thing I did -- I guess I will find out in 5 yrs -- when either the U.S. Dollar has gone to hell (in which case I'd look smart), or the Dow is at 20,000 (in which case i'd look like an idiot). The U.S. Mint pacakges 500 1 oz. Silver Eagles into a green plastic box. The box would contain 25 tubes of coins. Each tube contains 20 Silver Eagles. It does fell a little weird handling something "real" like silver in your hands -- all those shining metal silver coins. I also started to go long e-mini Silver eCBOT futures in October fully collateralized, which is not too onerous considering the contract spec is 1,000oz per contract. Still, the drawback w/ futures contracts as a way to replicate an ETF is that the unit is just too big -- even w/ a single e-mini Silver contract, it's in excess of $8,000. Advantage is low-cost -- It's only $3.22 round trip every time you roll the near-by to the next.
why not buy a bag of 90 % silver coins ( pre 1964 ) instead of the bullion ? is it because it is easier to sell them bit by bit rather than trying to time selling a whole bag of coins ?
not sure why you'd buy Eagles, unless you need one to buy a loaf of bread or a gallon of gas during "the end time"... plus you pay a hefty premium... silver rounds can be had for much less over spot if you buy volume
not sure why those chart links changed so here are new links http://customer1.barchart.com/custom/vsn/5835.htm http://customer1.barchart.com/custom/vsn/4952.htm
If you take physical delivery of a silver bar, you should check to see if you need to submit it for assaying before it can go back on warrant for re-delivery.
If US dollar goes to hell, DOW may be 100,000. Except 100,000 will have less purchasing power than 10,000 today.
-Silver spikes to 18-1/2-year high on fund buying- rumors of the silver ETF still in the works ? or silver playing catchup to the yellow metal ?
http://www.platts.com/Metals/Resources/ London (Platts)--25Jan2006 The Barclays Global Investors silver trust fund has entered the final furlong of its approval process but has not yet been fully approved, a source close to the company told Platts Wednesday. "The [US] Securities and Exchange Commission has approved it for filing--this means that there is roughly a three-week period where they'll look at it further and then either approve it or not, as the case may be," the source said. On the SEC website the Jan 17 filing reads: "Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 ('Act')1 and Rule 19b-4 thereunder,2 notice is hereby given that on June 30, 2005, the American Stock Exchange LLC ('Amex' or 'Exchange') filed with the Securities and Exchange Commission ('Commission') the proposed rule change as described in Items I, II, and III below, which Items have been prepared by the Amex. On September 15, 2005, the Exchange submitted Amendment No. 1 to the proposed rule change.3 The Commission is publishing this notice to solicit comments on the proposed rule change, as amended, from interested persons." The filing continues: "The Exchange proposes to list and trade the iShares Silver Trust (the 'Silver Trust' or 'Trust') shares that represent beneficial ownership interests in the net assets of the Trust consisting primarily of silver bullion ('silver'). The Exchange states that the Trust will not be actively managed, and therefore, a holder of Silver Shares will not be hedged to protect against the price volatility of the underlying silver." The SEC also noted that the timeline for the final decision was as follows: "Within 35 days of the date of publication of this notice in the Federal Register or within such longer period (i) as the Commission may designate up to 90 days of such date if it finds such longer period to be appropriate and publishes its reasons for so finding, or (ii) as to which the Amex consents, the Commission will: A. by order approve such proposed rule change, as amended; or B. institute proceedings to determine whether the proposed rule change, as amended, should be disapproved." Silver shot higher in whippy London trade Tuesday, several traders told Platts, on the back of rumors that the iShares silver trust had been given final approval by the SEC. Silver was bid at 937cts/oz at 1008 GMT, up on its daily fix Tuesday at 900cts/oz.
I'm long the SIH06 futures. Entered a long time ago and have rolled the position many times. Bumpy ride!