January 30, 2006
Thank you so much for providing me the opportunity to comment on the proposed proposal to establish a silver EFT,
We, rank and file investors, badly need a simple way to invest in physical silver without the expensive storing and insurance involved in dealer vault storage and without having to resort to cumbersome, and also expensive, personal possession. Not to mention the possible problem with purity and content valuation.
A silver EFT would go a long way toward smoothing demand and production. Of course, much of the recent price increase is because for so long there was little incentive for new mines or exploration as prices were artificially kept low - it was/is too much of a hassle for investors to own the physical metal.
It has always been my assumption that one of the SEC's objectives was to promote fair, safe and smooth trading. Please give Barclay's application for permission to establish a silver EFT a favorable ruling.
I have no interests or connection to the silver market or industry whatsoever beyond being an ordinary investor. Thank you.
William R. Moore