The Merk Gold Trust (NYSEArca: OUNZ), which debuted in mid-May, entered a crowded arena of established gold-backed exchange traded funds.

However, OUNZ stands out from its older rivals in one noticeable way: When investors sell shares of the ETF, they have the option to take delivery of physical gold for their shares. An early OUNZ investor has done just that.

California-based Merck Funds confirmed Wednesday an “individual investor submitted 5,406 shares of OUNZ and requested the delivery of 54 American Buffalo 24-carat gold coins last week. The gold coins was delivered on Tuesday,” Reuters reported.

By giving investors the option to take physical delivery of gold, OUNZ provides tax advantages not available with old physically-backed precious metals ETFs.

“Taking delivery of gold is not a taxable event and investors merely take possession of what they already own: the gold,” according to Merk.