Because as a small buyer you don’t have the opportunity to audit “your” silver, nor to verify anyone else’s audit. So your ownership is on paper; your experience owning it is on paper; when you buy it the transaction is on paper; when you sell it it is on paper. You never touch it and you just have to trust that those responsible are trustworthy.
Furthermore if there is a regime change or if our government decides to confiscate it for wrongdoing or if there is a technological breakdown, good fucking luck getting your silver.
I didn’t say it was an etf
I said it was custodial ownership
as in
someone else buys it and acts as custodian
exactly what you just said
but in effect it IS paper silver
Why?
Because as a small buyer you don’t have the opportunity to audit “your” silver, nor to verify anyone else’s audit. So your ownership is on paper; your experience owning it is on paper; when you buy it the transaction is on paper; when you sell it it is on paper. You never touch it and you just have to trust that those responsible are trustworthy.
Furthermore if there is a regime change or if our government decides to confiscate it for wrongdoing or if there is a technological breakdown, good fucking luck getting your silver.