There is also CEF which is both silver and gold. When we retired and sold out after paying Uncle Sam and our debt obligations a large percentage of our net worth went into that (as well as a little PHYS and a bunch of PSLV). About equal to our farm land ownership net worth. I figured half land and half gold/silver was not a bad place to be. I could sleep with that distribution.

The good thing is it is a mutual fund and gains for personal accounts are provided the potential of capital gains taxation (for our corporate accounts it is ordinary income) whereas precious metals are considered collectables and do not gain the taxation benefit of captiol gains.

One thing a person needs to be very aware of with these funds, they can trade above or below net intrinsic value. If they become very popular they can trade above the price of the underlying gold and silver they hold. And definitely the opposite. Many years ago when I was cost averaging my purchases I tried to buy more when the discount was high. Sometimes very high = good buy. But if a person is forced to sell or chooses to sell at a time when the fund is unpopular you can lose significant value to the underlying price of the metals. Buyer beware. For that reason I have always looked at them from the standpoint of ONLY a very long term investment. Not a trading vehicle though I suppose a person could take advantage of that. I did so only once when CEF disount was low but silver was having a horrible time so I sold a bunch of CEF and invested in PSLV. That has not looked like a wise decision till fairly recently. It may still turn out a good thing. Time will tell.

I have in the last couple months been putting open orders to sell some at higher and higher levels. Still have some orders in, quite a few have filled. At 71 I figure having a fiat cash stash is not that bad of deal. Been buying CD's at 3.85-3.9%. IRS will be happy with me this year.

Capital gains tax is nice compared to the two corporate accounts where it is ordinary income. And we get the privelage of paying taxes again on that money as dividends if we ever want it out. Oh well. Easy come, easy go.

One concern of mine is what will tax laws do with the next administration???? Will todays rates look like a bargain??? Or not? Back when I was a kid remember my dad letting me and my brothers take in firewood income that we cut in the winter months. After paying federal tax, state tax and maybe local sales tax he figured he actually got to spend a dime of each additional dollar income he took. Just as well let us kids take it in we all being either in low or no income tax brackets. At that point in his life he had  become a very successful farmer. Cutting winter firewood for the well to do city folks was as much something to keep busy after chores as making money. I just hope I do not see future tax rates like his were at that time in my lifetime. I could see it happening if enoough socialists get elected. Take from the rich and give to the poor so to speak. I would prefer to do that though my church than my government.