Sprott Physical Gold Trust (PHYS)
Just curious what people think of the Sprott Physical Gold Trust as a way of holding gold. It's backed by fully allocated bullion stored in Canada and periodically audieted by an independent third party. Fees are very low (less than one-half percent), buying and selling it is cheap with an online trading account like Options Xpress, and it's taxed at the long-term capital gains rate instead of the 28% rate for physical bullion.
Am I missing something? What's not to like?