The average price of Silver Eagles recently sold on eBay is $18.30

If a nominal price premium for silver eagles is $3, (or 20%) this implies a real physical buyer-seller price of around $15 for silver. Generic 1oz silver rounds sell for around $17

Given the above prices as the real market price of silver, I look at ECU as an $8 stock. That is what it would take for me to give up my shares today without the opportunity to replace them at the firesale prices quoted on the exchange.

Periodically I have to put on a different set of glasses to view my investments. It helps with the long term perspective. Consider my shares in strong hands!