I'm still exactly right. You will lose money on every secondary because PSLV drops everytime they announce a secondary--as it should. So if the premimium to NAV is a scant 3%, let's say, you can most certainly count on PSLV compressing to NAV at the very least. I know this is hard math for you. And I know it's hard for you to look at the facts, such as what PSLV market prices do on secondaries, not the NAV, and exactly what they have done on every secondary announcement. Hint: it has tanked anywhere from 3.5% to 7%!
And to top it off, for PSLV to pay the management fees to the trust for doing nothing other than storing silver bars for trust holders, secondaries will continue into the future as long as the eye can see.
Buy physical silver Peter. It's that simple. Stay away from these ponzi paper schemes. Sprott's trust is no different than all the ponzi's he writes about IMO. And you know, I know becasue you answered me, how much you actually need of PLSV to get physical delivery. Let's face it, we know iwynee doesn't have that kind of money and we know you don't either. So, therefore, you are the ultimate chumps. Like I said, if you're long silver--buy the physial for Pete's sake (pun intended).