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If you want to own gold (I don't) then GTU is more tax-wise than GLD b/c GTU is treated as a stock for capital gains purposes (or was the last time I looked), which is not true of GLD.
Yeppers, the basic bullion ETFs are taxed as collectibles at 28%. This is very much an ouch and limits these funds, at best, to deferred or exempt accounts.
For taxable accounts, the Central Fund of Canada CEF is taxed normally. It contains, last I looked, 55/45 gold to silver in real hands on bullion in Canada.
Part of the issue with the bullion ETFs is that the crazy hoarders want hands on physical bullion and even some of the more rational investors prefer CEF or one of the Sprott funds for various reasons. In addition to counterfeit ingots showing up here and there, there is the issue of more paper bullion than has ever been mined and lastly, some folks just don't trust them.
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Yeppers, the basic bullion ETFs are taxed as collectibles at 28%. This is very much an ouch and limits these funds, at best, to deferred or exempt accounts.
For taxable accounts, the Central Fund of Canada CEF is taxed normally. It contains, last I looked, 55/45 gold to silver in real hands on bullion in Canada.
Part of the issue with the bullion ETFs is that the crazy hoarders want hands on physical bullion and even some of the more rational investors prefer CEF or one of the Sprott funds for various reasons. In addition to counterfeit ingots showing up here and there, there is the issue of more paper bullion than has ever been mined and lastly, some folks just don't trust them.
peace,
rono