Sprott Physical Gold and Silver Trust (CEF) 40-F 29 Mar 18 2017 FY Annual report (Canada) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2017shares
Document and Entity Information [Abstract]
Entity Registrant Name	Sprott Physical Gold & Silver Trust
Entity Central Index Key	1,726,122
Document Type	40-F
Document Period End Date	Dec. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Common Stock, Shares Outstanding	1
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Trading Symbol	cef

Statements of comprehensive inc

Statements of comprehensive income (loss)	2 Months Ended
	Dec. 31, 2017shares
Statement of comprehensive income [abstract]
Weighted average number of Units	1

Statements of financial positio

Statements of financial position	2 Months Ended
	Dec. 31, 2017USD ($)$ / shares
Current assets [abstract]
Cash	$ 10
Total assets	10
Equity [abstract]
Unitholders' capital	10
Total equity (note 7)	10
Total liabilities and equity	$ 10
Total equity per Unit | $ / shares	$ 10

Statements of changes in equity

Statements of changes in equity - USD ($)	Issued capital [member]	Total
Proceeds from issuance of Units (in number of units)		1
Balance as (in number of units) at Oct. 26, 2017	0
Balance as at Oct. 26, 2017	$ 0	$ 0
Proceeds from issuance of Units	$ 10	10
Balance as (in number of units) at Dec. 31, 2017	1
Balance as at Dec. 31, 2017	$ 10	$ 10
Proceeds from issuance of Units (in number of units)	1

Statements of cash flows

Statements of cash flows	2 Months Ended
	Dec. 31, 2017USD ($)
Cash flows from financing activities [abstract]
Proceeds from issuance of Units	$ 10
Net cash provided by (used in) financing activities	10
Net increase (decrease) in cash during the period	10
Cash at end of period	$ 10

Organization of the Trusts

Organization of the Trusts	12 Months Ended
	Dec. 31, 2017
Organization of the Trusts
Organization of the Trusts	1. Organization of the Trusts Sprott Physical Gold and Silver Trust, (the “Trust”) is a closed-end mutual fund trust established on October 26, 2017 under the laws of the Province of Ontario, Canada. The beneficiaries of the Trust will be holders of Trust Units, which are being offered in connection with the Arrangement announced on October 2, 2017 involving Central Fund of Canada Limited (“CFCL”), the Trust, Sprott Inc., The Central Group Alberta Ltd. and its shareholders, 2070140 Alberta Ltd., the holders (the “Class A Shareholders”) of Class A shares (the “Class A Shares”) of CFCL and the holders (the “Common Shareholders”, and together with the Class A Shareholders, the “CFCL Shareholders”) of common shares (the “Common Shares”) of CFCL. The Trust is authorized to issue an unlimited number of redeemable, transferable units (“Units”). On October 26, 2017 the Trust issued one Unit for $10.00 cash. The Trust’s registered office is located at Suite 2600, South Tower, Royal Bank Plaza, 200 Bay Street, Toronto, Ontario, Canada, M5J 2J1. The financial statements of the Trust are as for the period October 26 to December 31, 2017. These financial statements were authorized for issue by the Manager on March 28, 2018.

Basis of Preparation

Basis of Preparation	12 Months Ended
	Dec. 31, 2017
Basis Of Preparation
Basis of Preparation	2. Basis of Preparation These financial statements have been prepared in compliance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”) and include estimates and assumptions made by the Manager that may affect the reported amounts of assets, liabilities, income, expenses and the reported amounts of changes in Net Assets during the reporting period. Actual results could differ from those estimates. The financial statements have been prepared on a going concern basis using the historical cost convention. The financial statements are presented in U.S. dollars and all values are rounded to the nearest dollar unless otherwise indicated.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2017
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	3. Summary of Significant Accounting Policies The following is a summary of significant accounting policies followed by the Trust: Functional and presentation currency The Trust’s functional and presentation currency is the U.S. Dollar. The Trusts’ performance is evaluated and its liquidity is managed in U.S. Dollars. Therefore, the U.S. Dollar is considered as the currency that most faithfully represents the economic effects of the underlying transactions, events and conditions.

Critical Accounting Estimates a

Critical Accounting Estimates and Judgments	12 Months Ended
	Dec. 31, 2017
Critical Accounting Estimates and Judgments
Critical Accounting Estimates and Judgments	4. Critical Accounting Estimates and Judgments The preparation of financial statements requires management to use judgment in applying its accounting policies and to make estimates and assumptions about the future. Estimation uncertainty The Trust based its assumptions and estimates on parameters available when the financial statements were prepared. However, existing circumstances and assumptions about future developments may change due to market changes or circumstances arising beyond the control of the Trust. Such changes are reflected in the assumptions when they occur.

Financial Risk, Management and

Financial Risk, Management and Objectives	12 Months Ended
	Dec. 31, 2017
Financial Risk, Management and Objectives
Financial Risk, Management and Objectives	5. Financial Risk, Management and Objectives The investment objective of the Trust is to seek to provide a secure, convenient and exchange-traded investment alternative for investors interested in holding physical gold and silver bullion without the inconvenience that is typical of a direct investment in physical gold and silver bullion. The Trust invests and intends to continue to invest primarily in long-term holdings of unencumbered, fully allocated, physical gold and silver bullion and does not speculate with regard to short-term changes in gold and silver prices. For the period from the inception of the trust to December 31, 2017, the Trust had no material risk.

Related Party Disclosures

Related Party Disclosures	12 Months Ended
	Dec. 31, 2017
Related Party Disclosures
Related Party Disclosures	6. Related Party Disclosures The Trust entered in a management services agreement with Sprott Asset Management LP on October 26, 2017. There have been no transactions between the Trust and its related parties during the reporting period.

Personnel

Personnel	12 Months Ended
	Dec. 31, 2017
Personnel
Personnel	7. Personnel The Trusts did not employ any personnel during the period, as their affairs were administered by the personnel of the Manager and/or the Trustee, as applicable.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2017
Subsequent Events
Subsequent Events	8. Subsequent Events On January 16, 2018, Sprott successfully completed the acquisition the common shares of Central Fund of Canada Limited ("CFCL") and the right to administer and manage CFCL's assets, resulting in the exchange CFCL's class A shares for units in the newly-created Sprott Physical Gold and Silver Trust. The transaction was implemented pursuant to a plan of arrangement (the “Arrangement”) under the Business Corporations Act (Alberta), subject to the satisfaction of customary conditions, including receipt of regulatory, securities commission and stock exchange approvals, Alberta court approval and the approval by the class A and common shareholders of CFCL on November 30, 2017. On Januay 16, 2018 the Trust began trading on the New York Stock Exchange and the Toronto Stock Exchange under the symbols “CEF” and “CEF.U”, respectively.

Summary of Significant Accoun14

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2017
Summary of Significant Accounting Policies
Functional and presentation currency	Functional and presentation currency The Trust’s functional and presentation currency is the U.S. Dollar. The Trusts’ performance is evaluated and its liquidity is managed in U.S. Dollars. Therefore, the U.S. Dollar is considered as the currency that most faithfully represents the economic effects of the underlying transactions, events and conditions.

Organization of the Trusts (Det

Organization of the Trusts (Details)	Oct. 26, 2017$ / sharesshares
Organization of the Trusts
Number of trust issued | shares	1
Trust issued per share (in dollars per shares) | $ / shares	$ 10

Related Party Disclosures (Deta

Related Party Disclosures (Details)	2 Months Ended
	Dec. 31, 2017agreement
Related Party Disclosures
Number of transactions between Trust and related parties	0