US citizens CAN get certificates of PHYS and PSLV! +Direct Registration..CEF
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Direct Registration..CEF apparently successful Scottrade
Submitted by Nick Elway on August 28, 2013 - 4:46pm.
1) Moved my regular account to Scottrade
(It appears Schwab charged me $50 to close and move my account)
(Scottrade promised they would reimburse that charge if the account value exceeded $10K, mine was less.)
2) My Scotttrade transaction ledger had this the next day after the shares arrived from Schwab: TRANSFER OF XXX SHARES OF CEF OUT OF ACCOUNT TO DTC
There was NO CHARGE to move the shares to direct registration! (Schwab would have charged $500)
3) I called www.canstockta.com (5 days later) 1-800-387-0825 hit "0" to talk to a human and they confirmed that the shares were there and in my name. Their normal procedure is to send out a snailmail package (5 to 10 business days) confirming that the account is set up and enough information to be able to log in to canstockta.com (but after you are registered it can still take 48 hours to be able to log in)
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Direct Registration accomplished for CEF
Submitted by Nick Elway on August 30, 2013 - 3:07pm.
The quick summary for those in the US:
1. Open a regular Scottrade account (not a retirement account!)
2. Get the shares of CEF into the account
3. Request a transfer of those shares into Direct Registration
4. Check your account transactions to verify the transfer "to DTC"
5. After a couple of days call www.canstockta.com 1-800-387-0825 hit "0" to talk to a human, describe the transfer and get your account started.
6. After another couple of days check your account at canstockta.com
It took about 3 weeks total to get to this level of protection against Paper Armageddon. CanstockTA said there would not be a charge to convert this holding to certificates should I choose to do so.
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Certificates for PHYS and PSLV
Submitted by Nick Elway on November 15, 2013 - 1:42pm.
US citizens CAN get certificates of PHYS and PSLV!
These steps may not all be necessary, but they worked for me.
1. Get PHYS and PSLV shares into a Scottrade account
2. Download, fill in, green medallion stamp, and send to Registrar & Transfer Company: http://www.rtco.com/forms/DWAC%20Certificate%20Request%20Form.pdf You can request more than one certificate and call DWAC desk 800-525-7686 x2678 if you have questions.
3. Download, fill in, and give to Scottrade https://www.scottrade.com/documents/formscenter/OUTDWAC.pdf
4. I was lucky, Scottrade only charged me $75 for PHYS and $75 for PSLV to do this (have that cash in your account).
Registrar & Transfer Company sent me the certificates as I had requested.
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PHYS
http://sprottphysicalbullion.com/media/6939/PHYS-FAQ.pdf
1. How do I invest? Can I buy Gold Trust units directly from Sprott Asset Management?
Units of the Gold Trust trade in US$ on the TSX and NYSE Arca exchanges and are purchased through a brokerage. Sprott doesn’t sell the Units directly.
Ticker Symbol: PHY.U (TSX)/PHYS (NYSE Arca)
CUSIP number: 85207H104
ISIN: CA85207H1047
13. How do I get physical certificates evidencing ownership of my units?
In the United States, there are two methods:
One, you can direct your broker to request a physical certificate from the Depository Trust Company (DTC). This may be a more expensive option as DTC generally charges ~$500 per certificate.
Two, you can direct your broker to initiate a DWAC certificate request (only a broker can initiate this) with the Trust’s co-Transfer Agent, R&T Co ( www.rtco.com). See their DWAC transfer form here: http://www.rtco.com/forms/DWAC%20Certificate%20Request%20Form.pdfCheck with your brokerage if they offer this service and at what cost.
In Canada, you can direct your broker to withdraw units from CDS Clearing and Depository Services Inc. When the broker puts in the withdrawal, the transfer agent in Canada, Equity Financial Trust, will issue physical certificates to the broker.
PSLV
http://sprottphysicalbullion.com/media/6942/PSLV-FAQ.pdf
1. How do I invest? Can I buy Silver Trust units directly from Sprott Asset Management?
Units of the Silver Trust trade in US$ on the TSX and NYSE Arca exchanges and are purchased through a brokerage. Sprott doesn’t sell the Units directly.
Ticker Symbol: PHS.U (TSX) / PSLV (NYSE Arca)
CUSIP number: 85207K107
ISIN: CA85207K1075
13. How do I get physical certificates evidencing ownership of my units?
In the United States, there are two methods:
One, you can direct your broker to request a physical certificate from the Depository Trust Company (DTC). This may be a more expensive option as DTC generally charges ~$500 per certificate.
Two, you can direct your broker to initiate a DWAC certificate request (only a broker can initiate this) with the Trust’s co-Transfer Agent, R&T Co ( www.rtco.com). See their DWAC transfer form here: http://www.rtco.com/forms/DWAC%20Certificate%20Request%20Form.pdf
Check with your brokerage if they offer this service and at what cost.
In Canada, you can direct your broker to withdraw units from CDS Clearing and Depository Services Inc. When the broker puts in the withdrawal, the transfer agent in Canada, Equity Financial Trust, will issue physical certificates to the broker.
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Direct Registration works for some mining stocks
Submitted by Nick Elway on January 28, 2014 - 8:00pm.
The quick summary for those in the US:
1. Open a regular Scottrade account (not a retirement account!)
2. Get the shares of EXK, NG, PAAS, PPP, SVLC, TRX, into the account
3. Request a transfer of those shares into Direct Registration
4. Check your account transactions to verify the transfer "to DTC"
These particular stocks have Computershare as the transfer agent and I received the paper confirmation from Computershare. Computershare seems to have set up a separate account for each.
The PAAS account sent me a request to fill out form NR301 to cope with Canadian/US withholding or else they will subtract a lot from the 3.9 per cent dividend. My experience with CEF was that Canadian and US withholding took over half of the dividend.
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Also
Submitted by flyinkel on January 29, 2014 - 3:13am.
With your help last time was able to direct register RBY, RGLD, TRX, and GORO.
RTRAF comes in certificate only which they will send to the house.
Still have a couple others waiting to hear about. We moved, life has been nutty, so I sort of forgot about it. Will re-check.
This info just in case you have any other folks trying to direct register. |
