To: E. Pluribus Unum
Question #4: How did you determine that this meets the standards of a PFIC under U.S. tax law? I'm wondering how they make this determination for someone who invests U.S. dollars in a foreign company that is listed on the AMEX exchange here in the U.S.
Question #5: If you are interested in investing in a gold/silver company and you are investing U.S. dollars, what made you select a Canadian company for this? (I don't mean this wasn't a wise move, just that it seems to add a degree of complexity that may be unnecessary for a simple gold/silver investment strategy.)
10 posted on
03/23/2011 1:37:26 PM PDT by
Alberta's Child
("If you touch my junk, I'm gonna have you arrested.")
To: Alberta's Child
4. CEF's website says it is a PFIC. It is in this
PDF 5. Unlike GLD and other gold/silver ETFs, CEF owns physical metal and is required to be 90% invested at all times. It is the next best thing to owning physical gold, which I have no desire to do, for a number of reason. Plus, it's been around since 1961, much longer than the other precious metal ETFs.
11 posted on
03/23/2011 1:54:36 PM PDT by
E. Pluribus Unum
("If they bring a knife to the fight, we bring a gun." -- Barry Soetoro, June 11, 2008)
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