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Message:: [QUOTE="desertgem, post: 1514385, member: 15199"]Not directly unless you have more than 45,000-50,000 shares of SLV to exchange or are an approved participant such as JPMorgan, etc. which I doubt you are , and neither am I . Less than that, you indirectly have the silver backing giving the trust the ability to pay you cash. It is all spelled out in the prospectus, and ignorance of such for an investor in the trust gives no protection.   If you have physical in your hand , you Lose also ( on Paper). If you say , I will hold until it comes back, the same is true on paper for SLV, it is a share, hold as long as you want. It is a trust, not a holding fund. If things do go to -0- for silver, then the supporting banks will be very happy to pay -0- for the shares, as they still have the physical. All there has to be is enough USD in the capital holders to pay off the shares if people turn them in, and the Trust requires there is more than sufficient, according to the SEC reports.  The risk isn't with the Trusts, it is with the action of the commodity. It is a cash play for retail investors, who want the cash from increased price sells. With physical in hand, it can be stolen, expensive to store, slow to exchanged when necessary, and also carries a buy/sell/transport premium.  With SLV, it is recorded in many places, almost no expense to store, except trust fees, can be sold in seconds. IMO. [/QUOTE]