So I'm looking for securities tied to gold/silver for two reasons: 1) for convenient trading to play gold vs. silver ratios, and 2) to invest in gold/silver with retirement dollars, since I have more cash there to invest.
There are a number of ETFs, including GLD, SGOL, AGOL, and SIVR. The downsides include a large ratio of shares to physical holdings and gains taxable at the higher collectible rate rather than long-term capital gains.
In my reading online another option came up: Sprott's trusts PHYS and PSLV, which offer physical holdings in gold and silver with convertibility to metal and potential tax benefits. I'll have to check out the prospectus.
Addition: Regarding how the IRS views ETFs in IRAs, apparently there are two private-letter rulings that state that gold/silver ETF shares in an IRA aren't collectibles for tax purposes.
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