To: TobagoJack who wrote (45121 ) 1/13/2009 7:38:21 AM From: Golconda 1 Recommendation Respond to of 217652 here in switzerland the below etf are backed by physical gold and redemption can payment in kind ie the physical metal, minimum physical redemption in gold is a 12.5kg bar. there are etfs on gold, silver, platinum and palladium. Press Release from 28 April 2008 Zürcher Kantonalbank to split precious metals ETFs Absence of issuer risk, physical cover and daily tradability: these are the main reasons why Zürcher Kantonalbank's precious metals exchange traded funds (ETFs) are highly popular in investor circles. Now, after a 10-for-1 split to be implemented on May 2, 2008, ZKB's precious metals ETFs will also be within the reach of retail clients. Following a 10-for-1 split, Zürcher Kantonalbank's precious metals exchange traded funds (ETFs) (ZKB) will now also be an attractive investment option for retail clients. Whereas at present one unit is worth more than CHF 10,000, making these products largely the preserve of institutional investors and high-net-worth private clients, from May 2, 2008 onward it will be possible to invest in one of the four ZKB precious metals ETFs with sums ranging from CHF 1,500 to 3,500 and share in the performance of the underlying precious metals. However, before taking any decisions ZKB advises clients to take up its offer of investment advice to find out whether an ETF investment would be compatible with their risk capacity and risk preference. So far, the four ZKB ETFs are unique in the market in that their entire capital is backed by corresponding physical precious metals holdings. For the first time, investors can request delivery of the physical precious metal (restricted to standard bars) as an alternative to the sale of units. ZKB's ETFs are listed on the SWX Swiss Exchange and can be bought or sold at current prices. ETFs are an extremely liquid, cost-efficient and transparent form of investment. The unit certificates will be traded on the SWX Swiss Exchange on a split basis from May 2, 2008 onward. After the split, one unit in ZKB Gold ETF will correspond to around 100 grams of gold, one unit in ZKB Silver ETF to 3 kilograms of silver, one unit in ZKB Platinum ETF to 50 grams of platinum, and one unit in ZKB Palladium ETF to 100 grams of palladium. The following securities/ISIN numbers are affected by the split: * 2 439 100 / CH0024391002 ZKB Gold ETF * 2 979 271 / CH0029792717 ZKB Silver ETF * 2,979,268 / CH0029792717 ZKB Palladium ETF * 2,979,270 / CH0029792717 ZKB Platinum ETF