-colorspace RGB will not help. You have not specified any color for the text, so it will be black and white (binary image).
Use
identify -verbose yourimage.tif
to see that it is colorspace RGB, but a bilevel type with 1-bit per channel grayscale and 1-bit per alpha
The example I provided for you to put the character A in the alpha channel works as you asked to make a white character on a transparent (white) background if you use PNG.
for tiff try this
convert \( -background black -fill white -pointsize 50 label:A -alpha off \) \
\( +clone -threshold -1 \) \
-alpha off +swap -compose copy_opacity -composite -depth 8 font.65.tiff
or as png (without the -depth
convert \( -background black -fill white -pointsize 50 label:A -alpha off \) \
\( +clone -threshold -1 \) \
-alpha off +swap -compose copy_opacity -composite font.65.png
Tiff is strange and has a lot of special arguments and different interpretations. Don't recommend using it.
see
http://www.imagemagick.org/Usage/formats/#tiff
If you don't care what the transparent background color is, that is if it can be black rather than white, then this is simpler:
convert -background black -fill white -pointsize 50 label:A -alpha off \
-density 8 -alpha copy font.65.tiff