Gyroscopic Investing

Hey,
The Canadian Mint will be offering direct ownership of gold, to be held in its vault in Ottawa.
To buy the gold, you need to buy exchange traded receipts (ETRs) on the Toronto stock exchange.

http://www.mint.ca/store/news/royal-can ... t+the+Mint

Apparently this article is not supposed to be disseminated in the US. oops.

Apparently this article is not supposed to be disseminated in the US. oops.

thanks just the same. I bought a silver coin from them and have subsequently received a slew of paper ads and email, but not this. I feel so naughty just knowing about it.

Is this legal for U.S. citizens??

According to the announcement this will not be sold in the US. That sucks.

Of course Australia's Perth mint has essentially the same thing in PMGOLD which is available to US citizens.

Yes, but I could always take a drive to Canada and collect my gold if I had to.

Canadian Mint probably would be overwhelmed by Americans driving across the border (or adding to Roth IRA's) and don't want to deal with the hassle.  Also, American securities laws are a pain and companies in some countries don't want to deal with them.  I remember a few years ago Canadian companies had so many Americans owing Energy Trusts they were in danger of losing their Canadian tax-favored status.  When the law was tweaked because of it, some of the Energy Trusts collapsed in price (years before the law change was to go into effect).

Still, the statement that the ETRs won't be sold in the USA does not mean that they will be illegal for Americans to hold.  What if you got one as a gift?