The biggest short squeeze in the world?, page-994

On that, I'll save you some reading.

ETPMAG gives you an entitlement to buy the physical allocation of silver for 1 cent. As much as it says you can "take delivery" practically you cant. The bars are 1 kilo bullion stacked up together. There isn't a pile for you and a pile for me, but collectively all unit holders own the allocation of silver together. Even if you were looking to redeem a whole kilo bar with the appropriate allocation, you still cant. under the terms and conditions of the fund only an approved dealer at the London metal exchange can request and accept delivery on behalf of a ETPMAG unit holder.

So in essences you can request your physical silver to be transferred to another custodian (like JP Morgan) for $1,000. But we as individuals cant turn up and ask for our bars.

If you're buying silver because you're worried and the financial system and believe there could another financial crises ETPMAG is likely not the right fit. As in the event of complete financial collapse in markets, it would likely be very difficult to realise the true value of your silver allocation under those circumstances.

If you're looking to speculate and trade. ETPMAG will help assist in cornering the silver market and help put upward pressure on prices (due to psychical shortage of bullion).