I've been looking at investing a portion of my savings in silver and as far as I can tell the most cost effective way of doing this is to buy EFTs, no storage fees etc.
On the other hand a lot of people say ETFs are not as attractive option as they appear. They argue that because they are basically a pieces of paper that track the price of silver, and that there is no actual physical silver behind that ETF, then if the monetary systems collapses then all you'll have is a worthless piece of paper. Is there anything to that or is it just fantastical doomsday type nonsense? Because if it is then I can't see any advantage of holding physical gold/silver over ETFs, or am I missing something else?
On the other hand a lot of people say ETFs are not as attractive option as they appear. They argue that because they are basically a pieces of paper that track the price of silver, and that there is no actual physical silver behind that ETF, then if the monetary systems collapses then all you'll have is a worthless piece of paper. Is there anything to that or is it just fantastical doomsday type nonsense? Because if it is then I can't see any advantage of holding physical gold/silver over ETFs, or am I missing something else?