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SLV Bar Analysis for 18 Mar 2015 (from 11 Mar 2015 )

Quick Links: Warehouse Summary, Refinery Summary, Duplicate Serial Number & Weight, Bars Removed, Bars Added, Serial Number Changes, Statistics, Notes.

Warehouse Summary

Refiner	Start	End	Added	Removed	Serial Only Duplicates	Serial & Weight Duplicates
JPM New York (JPMN)	20851 bars 20,821,221.5 oz	20851 bars 20,821,221.5 oz	0 bars 0.0 oz	0 bars 0.0 oz	0	0
Johnson Matthey UK. Royston (JMUK)	0 bars 0.0 oz	0 bars 0.0 oz	0 bars 0.0 oz	0 bars 0.0 oz	0	0
HSBC London (HSBC)	0 bars 0.0 oz	0 bars 0.0 oz	0 bars 0.0 oz	0 bars 0.0 oz	0	0
Brinks London (BRIU)	155780 bars 151,317,104.2 oz	155780 bars 151,317,104.2 oz	0 bars 0.0 oz	0 bars 0.0 oz	8783	12
Brinks London C (BRIC)	60989 bars 59,123,619.7 oz	60989 bars 59,123,619.7 oz	0 bars 0.0 oz	0 bars 0.0 oz	5528	6
Brinks London A (BRIA)	0 bars 0.0 oz	0 bars 0.0 oz	0 bars 0.0 oz	0 bars 0.0 oz	0	0
Via Mat International (VIAM)	0 bars 0.0 oz	0 bars 0.0 oz	0 bars 0.0 oz	0 bars 0.0 oz	0	0
JPM London V (JPMV)	99251 bars 96,070,277.2 oz	99251 bars 96,070,277.2 oz	0 bars 0.0 oz	0 bars 0.0 oz	11418	11
JPM London A (JPMA)	0 bars 0.0 oz	0 bars 0.0 oz	0 bars 0.0 oz	0 bars 0.0 oz	0	0
Total (n/a)	336871 bars 327,332,222.6 oz	336871 bars 327,332,222.6 oz	0 bars 0.0 oz	0 bars 0.0 oz	51460	60

Refinery Summary

Refiner	# Bars	Ounces	Average Oz	Stand. Dev.	Serial Only Duplicates	Serial & Weight Duplicates	# Weights
AMax Inc. USA (AMA)	165 bars	164,682.6 Oz	998.1	28.0	0	0	151
Allgemeine Germany (ALL)	282 bars	284,665.6 Oz	1009.5	1.9	0	0	69
Almalyk Uzbekistan (ALM)	1157 bars	1,129,070.9 Oz	975.9	18.7	137	1	571
Anhui Tongda Copper Ltd China (ANH)	8 bars	7,662.1 Oz	957.8	5.1	0	0	8
Argor-Heraeus SA Switzerland (ARG)	340 bars	326,523.6 Oz	960.4	25.3	0	0	286
Asahi Pretec Corp Japan (AS1)	2146 bars	2,092,765.3 Oz	975.2	7.8	0	0	352
Asarco Various (AS2)	3 bars	2,964.2 Oz	988.1	22.8	0	0	3
Asarco Inc Amarillo (AS3)	1234 bars	1,226,691.2 Oz	994.1	21.0	2	0	627
Aurubis AG Germany (AUR)	8471 bars	7,377,543.3 Oz	870.9	31.4	0	0	1500
Australian Gold Refineries (AUS)	1393 bars	1,057,244.8 Oz	759.0	31.2	0	0	819
Boliden Mineral Sweden (BOL)	306 bars	315,936.5 Oz	1032.5	31.9	0	0	274
Britannia Refined Metals U.K (BRI)	16660 bars	15,947,310.1 Oz	957.2	48.6	4920	4	2459
Comptoir Lyon-Alemand FRA (COM)	70 bars	67,562.4 Oz	965.2	40.6	0	0	69
Cominco Ltd Tadanac Canada (CO1)	1649 bars	1,735,337.0 Oz	1052.4	18.0	1	0	658
Daye Non-Ferrous Metals China (DAY)	1007 bars	976,081.7 Oz	969.3	26.0	1	0	642
Degussa Frankfurt (DEG)	1717 bars	1,811,379.3 Oz	1055.0	36.9	12	0	968
Doe Run Peru SSL (DOE)	2963 bars	3,092,795.4 Oz	1043.8	27.0	677	0	912
Dowa Mining Japan (DOW)	1740 bars	1,698,435.4 Oz	976.1	19.8	0	0	708
EKATERINBURG (EKA)	9 bars	8,912.4 Oz	990.3	18.0	0	0	9
Engelhard Clal Paris (EN2)	5 bars	5,200.2 Oz	1040.0	73.9	0	0	5
Engelhard UK (EN3)	12 bars	12,343.0 Oz	1028.6	38.7	0	0	12
Engelhard USA (EN4)	92 bars	91,684.1 Oz	996.6	37.1	0	0	90
Great Wall Ref China (GRE)	1270 bars	1,246,179.7 Oz	981.2	17.7	162	0	517
Guangxi Chengyuan Mining China (GUA)	1638 bars	1,583,763.8 Oz	966.9	21.3	0	0	711
Handy Harman USA (HAN)	2437 bars	2,422,660.4 Oz	994.1	36.5	6	0	1162
Henan Yuguang Gold and Lead Co Ltd (HEN)	17499 bars	17,071,563.6 Oz	975.6	25.7	13	0	1425
Hoboken Belgium (HOB)	1496 bars	1,477,438.0 Oz	987.6	32.0	14	0	848
Hunan Zhuzhou China (HUN)	320 bars	320,619.6 Oz	1001.9	17.3	0	0	266
Inco ltd, Canada (INC)	202 bars	211,574.8 Oz	1047.4	27.0	2	0	185
Industrial Minera Mexico (IND)	289 bars	304,989.2 Oz	1055.3	29.6	0	0	244
Inner Mongolia Qiankun Gold & Silver (INN)	16121 bars	15,821,285.7 Oz	981.4	22.7	4842	8	1375
JBR Recovery UK (JBR)	300 bars	314,814.1 Oz	1049.4	80.9	0	0	263
Jiangxi Copper Co Ltd (JIA)	6209 bars	6,338,877.8 Oz	1020.9	31.7	0	0	1384
John Betts UK (JO1)	188 bars	195,251.9 Oz	1038.6	36.2	0	0	164
Johnson Matthey Canada (JO3)	314 bars	317,305.5 Oz	1010.5	32.4	0	0	273
Johnson Matthey UK (JO4)	738 bars	727,410.0 Oz	985.7	44.9	0	0	573
Johnson Matthey USA (JO6)	5749 bars	5,733,579.7 Oz	997.3	33.9	2	0	1411
Johnson Matthey USA (JO5)	14799 bars	14,639,432.3 Oz	989.2	31.0	0	0	1644
JSC Ekaterinburg Non-Ferrous Metals (JSC)	494 bars	483,149.1 Oz	978.0	20.7	0	0	371
KCM SA Bulgaria (KCM)	561 bars	551,551.5 Oz	983.2	13.9	61	0	337
KGHM Poland (KGH)	10781 bars	10,898,205.1 Oz	1010.9	15.5	535	0	906
Kazzinc. Kazakhstan (former) (KAZ)	3721 bars	3,617,890.5 Oz	972.3	22.0	0	0	952
Kazakhmys PLC Kazakhstan (KA2)	13906 bars	13,529,927.2 Oz	973.0	19.9	84	0	1105
Kennecott Copper USA (KEN)	84 bars	84,121.9 Oz	1001.5	49.8	0	0	83
Korea Zinc Co Ltd (KOR)	11386 bars	11,094,612.8 Oz	974.4	18.1	0	0	1001
Krasnoyarsk Russia (KRA)	19492 bars	18,615,033.5 Oz	955.0	19.3	51	0	1051
LS-Nikko Copper Ltd Korea (LSN)	873 bars	838,411.3 Oz	960.4	25.1	0	0	516
Matsuda Sangyo (MAT)	627 bars	605,490.7 Oz	965.7	19.2	0	0	410
Met Precieux Switzerland (ME1)	29 bars	27,533.7 Oz	949.4	32.9	0	0	28
Met-Mex Penoles Mexico (ME4)	5458 bars	5,699,434.9 Oz	1044.2	21.0	24	0	938
Metalor Ref Corp USA (ME3)	66 bars	63,015.3 Oz	954.8	45.6	0	0	66
Mitsui Mining Japan (MI3)	1107 bars	1,061,451.5 Oz	958.9	23.1	0	0	628
Mitsubishi Materials Corporation (MI4)	5073 bars	4,923,114.9 Oz	970.5	20.3	0	0	967
Neimenggu Ref China (NEI)	160 bars	166,603.3 Oz	1041.3	18.8	0	0	142
Nippon Mining Japan (NIP)	4681 bars	4,351,677.7 Oz	929.6	16.3	1	0	777
Noranda Canada (NO1)	1882 bars	1,918,346.9 Oz	1019.3	31.4	5	0	950
Noranda Canada (NO2)	135 bars	135,801.1 Oz	1005.9	25.8	0	0	125
Nordeutsche Germany (NO4)	17443 bars	15,000,724.6 Oz	860.0	33.5	0	0	1801
Novosibrisk Refinery Russia (NO5)	69 bars	65,710.0 Oz	952.3	18.5	0	0	66
OJSC Kolyma (OJS)	8268 bars	7,906,193.2 Oz	956.2	20.8	0	0	1069
Pamp Sa Switzerland (PAM)	1126 bars	1,130,611.1 Oz	1004.1	26.7	0	0	681
Port Pirie(Zinifex,Pasminco,Broken Hill (POR)	153 bars	144,385.7 Oz	943.7	33.5	0	0	144
Prioksky Russia (PRI)	5494 bars	5,300,084.7 Oz	964.7	22.6	61	0	1041
Rand Refinery Ltd (RAN)	2 bars	2,214.3 Oz	1107.2	9.4	0	0	2
Real del Monty Pac'a Mexico (REA)	58 bars	60,439.9 Oz	1042.1	43.3	0	0	56
Royal Canadian Mint (ROY)	22 bars	21,159.1 Oz	961.8	69.6	0	0	22
Russian State Refineries (RUS)	35274 bars	33,804,653.4 Oz	958.3	22.3	3967	2	1253
Sheffield Smelting Co UK (SH1)	37 bars	37,804.3 Oz	1021.7	47.1	0	0	37
Shenzhen Zhongjin Co Ltd China (SH2)	1293 bars	1,278,650.0 Oz	988.9	7.6	1	0	305
Shui Kou Shan Mining China (SH3)	6275 bars	6,347,066.6 Oz	1011.5	28.8	334	0	1309
Shyolkovsky Russia (SH4)	737 bars	700,640.9 Oz	950.7	16.8	0	0	447
Shandong Zhaojin Refinery Ltd (SH5)	108 bars	102,203.3 Oz	946.3	22.4	0	0	101
Solar Applied Materials Corp Taiwan (SOL)	38326 bars	38,133,941.7 Oz	995.0	22.4	2431	2	1311
Sumitomo Corp Japan (SUM)	2059 bars	2,013,835.7 Oz	978.1	16.0	2	0	642
Toho Zinc Japan (TOH)	3025 bars	2,907,600.1 Oz	961.2	20.5	10	0	863
Tongling Nonferrous Metals China (TON)	6875 bars	6,701,453.2 Oz	974.8	22.7	1110	2	1050
Trepca Yugoslavia (TRE)	15 bars	14,038.4 Oz	935.9	26.5	0	0	15
Umicore SA, Precious Metals (UMI)	60 bars	48,399.0 Oz	806.6	2.8	0	0	43
U.S Assay Office (USA)	35 bars	35,978.3 Oz	1028.0	45.2	0	0	35
Uralelectromed Russia. YA (URA)	1722 bars	1,651,350.8 Oz	959.0	19.6	27	0	700
Valcambi Switzerland (VAL)	2611 bars	2,556,646.6 Oz	979.2	24.8	0	0	934
Yunnan Copper Ind' Ltd China (YUN)	12744 bars	13,026,387.9 Oz	1022.2	24.9	6235	11	1322
Zaklady Met Trzebina Poland (ZAK)	141 bars	128,820.7 Oz	913.6	27.5	0	0	130

Duplicate Serial Numbers & Weights

Refiner	Serial	Fineness	Weight	Location
ALM	937	9999	964.6	JPMV, JPMV
BRI	1107	9990	934.3	JPMV, JPMV
BRI	4985	9990	907.7	JPMV, JPMV
BRI	8021	9990	906.5	JPMV, JPMV
BRI	V2029	9990	977.3	BRIU, BRIU
INN	601598	9999	987.0	BRIU, BRIU
INN	602627	9990	977.4	BRIU, BRIC
INN	602877	9990	992.3	BRIU, BRIC
INN	603289	9999	969.1	BRIC, JPMV
INN	603324	9990	963.9	BRIU, JPMV
INN	604680	9990	990.3	JPMV, JPMV
INN	609927	9990	980.8	BRIU, JPMV
INN	610224	9999	1,005.7	BRIU, JPMV
RUS	13411	9999	959.9	BRIU, BRIU
RUS	M1343	9999	944.0	JPMV, JPMV
SOL	10020506	9990	1,011.6	BRIU, BRIU
SOL	3270808	9999	983.8	BRIU, BRIC
TON	2969	9999	945.7	JPMV, JPMV
TON	3404	9999	979.8	BRIU, JPMV
YUN	1441	9999	1,022.3	BRIU, BRIC
YUN	1705	9999	1,015.5	BRIU, BRIC
YUN	2015	9999	1,027.0	BRIU, BRIC
YUN	2516	9999	988.6	BRIC, BRIC
YUN	263	9999	1,036.1	BRIU, BRIU
YUN	2719	9999	1,031.4	BRIC, JPMV
YUN	292	9999	1,040.8	BRIU, BRIU
YUN	375	9999	1,027.8	BRIU, JPMV
YUN	523	9999	1,006.7	BRIU, JPMV
YUN	79	9999	1,025.8	BRIC, JPMV
YUN	823	9999	1,042.7	BRIC, BRIC

Bars Removed (Refinery Summary):

Refiner	# Bars	# Ounces

Bars Removed:

Refiner	Serial	Fineness	Weight	Location	First Seen

The next table shows the dates that bars were first seen, and how many ounces of silver removed were added on those dates.
For example, '19Nov10 86922' means that 86,922 of the ounces removed were bars that were first seen in SLV on November 19, 2010.

Date Ounces

Bars Added (Refinery Summary):

Refiner	# Bars	# Ounces

Bars Added:

Refiner	Serial	Fineness	Weight	Location

Date Ounces

Serial Number Changes:

Refiner	Old Serial	New Serial	Fineness	Weight	Location

Stats

# Bars:	336871
# Ounces:	327332222.6
Average Bar Weight:	971.7 ounces
Lightest bar:	621 ounces.
Heaviest bar:	1215 ounces.
Shortest Serial Length:	1
Longest Serial Length:	11
Duplicate Serial & Weight Count:	60 (about 1 in 5614 bars)
Duplicate Serial Only Count:	51460 (about 1 in 6.5 bars)
Duplicate Bars With Exact Weight:	1 in 857 duplicate bars
Total Weights:	4085
Number of Refiners:	83

General Notes

'Refiner Change' means that there was a change to the refiner of a bar (such as 'Engelhard US' to 'Engelhard UK').
'Serial Change' means that there was a change to the serial number of a bar (such as '2281' to '2008-2281').
'Stand. Dev.' is the standard deviation of the weights of the bars of a manufacturer. The lower the number, the closer the bars are in weight to each other.
LBMA Good Delivery rules prior to 2008 allowed bars weighing 500-1250 troy ounces. Currently, it is 750-1100 ounces, with 900-1050 recommended.
COMEX allows bars from 900 to 1,100 ounces (COMEX rules are not used for SLV, LBMA are).
Silver is added to or removed from SLV in amounts of slightly less than 50,000 ounces in exchange for a 'basket' of exactly 50,000 shares.

Notes on Duplicates

Duplicate Serial Numbers are acceptable per LBMA rules, if the year of manufacture is different.
'Duplicate Serial Only' means that the refiner and serial number of two or more bars match, but are different weights (almost certainly two different years, which is OK).
'Duplicate Serial & Weight' means that the refiner, serial number, and weight of two or more bars match (which is OK if the years are different).
The SLV bar lists do not have a space for the year, unless it is part of the serial number, which accounts for the seemingly duplicate entries.
The proportion of duplicate entries per warehouse does not seem unusual.
The lack of duplicate serials with some refiners, and large amounts at others, helps confirm that many refiners never duplicate serial numbers, even in different years.
The proportion of 'refiner+serial+weight' dupes to 'refiner+serial' dupes appears normal, given the distribution of weights.
With 336871 bars, occasional accounting errors are inevitable.