Subject: File No. SR-Amex-2005-072
From: Eric Nansen
Affiliation: None

January 26, 2006

Silver is legal to own and a user's group with vested interests in keeping the price low for their own personal gain is unfair to the average investor such as myself. I want Silver to reflect the true market price. Restricting a silver ETF has no basis. The market will determine the supply/demand and set the price. An ETF allows the market to work more efficiently by providing a vehicle for small investors to participate.