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Precious metals have been a store of wealth for millennia. Owning coins, bars or jewelery used to be the only option to invest in gold, silver or platinum, but today’s investors have a number of alternatives. In addition to bars and coins, they can also hold precious metals certificates, metals-backed exchange traded funds and closed-end funds.
Investors have a number of options to gain exposure to precious metals – coins and bars, certificates, ETFs and closed-end funds. Bars and coins provide direct bullion ownership, but can be costly and inconvenient to buy and sell. Certificates are more convenient to hold but do not guarantee exchange for bullion and carry counterparty risk. ETFs are liquid and cost effective but do not offer beneficial bullion ownership and cannot be redeemed for metal. We believe that closed-end funds with physical redemption features, such as Sprott Physical Bullion Trusts offer a great way to gain exposure to precious metals. They have the liquidity, convenience and cost efficiency of exchange-traded funds along with a number of compelling advantages which include the ability to redeem for physical metal*, the potential for more favorable tax treatment for U.S. investors and lower counterparty risk by not storing the metals with a non-corporate U.S. bullion bank.
1 Source: How Are Collectibles Taxed? | Investopedia
* Subject to certain minimums
** For more information, please see ”Tax Considerations-U.S. Federal Income Tax Considerations” in the Prospectus and always consult your tax accountant regarding your particular situation.