Shiny Rocks & Diggers: A Modest Proposal

SLVP, you see, doesn’t actually hold the silver. It holds shares in the companies that do the digging. Which introduces a delightful layer of inefficiency. They have to pay people, maintain equipment, and occasionally deal with geological surprises. IAU, on the other hand, is simpler. It’s essentially a very large, heavily guarded vault.2 This comparison is less about finding the ‘best’ investment and more about understanding the different flavours of hope and despair on offer.








