Pros:
1. You can hold the physical metal in your hand.
2. It will never go to zero.
Cons:
1. Liquidity, unlike the paper market that you can just click a button to sell, with physical metal you will have to find a buyer. Depending on how desperate you want to sell, typically the quickest way is to sell to coin shops. Problem with selling to coin shops is they typically offer you below the spot price and if you are lucky you might get the spot. The alternative will take much longer, example , if you sell to APMEX there's a lengthy process you have to go through before you get your check or your funds deposited to your account.
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