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SLV Bar Analysis for 20Aug10 (from 13Aug10 )

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
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)	71715 bars 70237094.4 oz	71715 bars 70237094.4 oz	0 bars 0.0 oz	0 bars 0.0 oz	5493	10
Brinks London A (BRIA)	30463 bars 29788240.0 oz	30463 bars 29788240.0 oz	0 bars 0.0 oz	0 bars 0.0 oz	5762	11
Via Mat International (VIAM)	28676 bars 28068329.6 oz	28676 bars 28068329.6 oz	0 bars 0.0 oz	0 bars 0.0 oz	2323	3
JPM London V (JPMV)	61620 bars 59950873.6 oz	61620 bars 59950873.6 oz	0 bars 0.0 oz	0 bars 0.0 oz	9616	13
JPM London A (JPMA)	106938 bars 106166873.6 oz	106938 bars 106166873.6 oz	0 bars 0.0 oz	0 bars 0.0 oz	15492	26
Total (n/a)	299412 bars 294211404.8 oz	299412 bars 294211404.8 oz	0 bars 0.0 oz	0 bars 0.0 oz	77374	126

Refinery Summary

Refiner	# Bars	Ounces	Average Oz	Stand. Dev.	Serial Only Duplicates	Serial & Weight Duplicates	# Weights
AMax Inc. USA (AMA)	1019 bars	1016990.4 Oz	998.0	32.4	1	0	665
Almalyk Uzbekistan (ALM)	2436 bars	2342992.8 Oz	961.8	18.9	90	0	761
Anhui Tongda Copper Ltd China (ANH)	2 bars	1929.4 Oz	964.7	1.8	0	0	2
Argor-Heraeus SA Switzerland (ARG)	2369 bars	2252321.0 Oz	950.7	56.1	0	0	1442
Asahi Pretec Corp Japan (AS1)	745 bars	727427.3 Oz	976.4	8.6	0	0	280
Asarco Various (AS2)	36 bars	35548.8 Oz	987.5	20.3	0	0	35
Asarco Inc Amarillo (AS3)	4733 bars	4710550.8 Oz	995.3	22.0	4	1	978
Australian Gold Refineries (AUS)	3339 bars	2689228.8 Oz	805.4	118.2	14	0	1525
Britannia Refined Metals U.K (BRI)	30680 bars	29653110.4 Oz	966.5	55.9	12668	15	3035
Burma Mines (BUR)	14 bars	16421.5 Oz	1173.0	19.1	0	0	14
Comptoir Lyon-Alemand FRA (COM)	1131 bars	1100109.2 Oz	972.7	41.6	70	0	803
Cominco Ltd Tadanac Canada (CO1)	1046 bars	1098213.7 Oz	1049.9	19.5	6	0	551
Daye Non-Ferrous Metals China (DAY)	274 bars	268411.1 Oz	979.6	24.7	1	0	241
Degussa Frankfurt (DEG)	8330 bars	8787594.4 Oz	1054.9	42.9	1125	0	1853
Dowa Mining Japan (DOW)	1037 bars	1012691.8 Oz	976.6	23.3	0	0	612
ERANDS. Southern Copper Ltd. (ERA)	120 bars	128143.9 Oz	1067.9	17.8	0	0	111
Empresa Minera Peru (EMP)	7881 bars	8220341.6 Oz	1043.1	28.8	1633	6	1267
Engelhard Canada (EN1)	5 bars	4998.4 Oz	999.7	29.8	0	0	5
Engelhard Clal Paris (EN2)	11 bars	11012.7 Oz	1001.2	23.6	0	0	11
Engelhard UK (EN3)	115 bars	115437.5 Oz	1003.8	47.0	0	0	109
Engelhard USA (EN4)	444 bars	443691.8 Oz	999.3	35.0	1	0	369
Espanola Metales Spain (ESP)	368 bars	347329.6 Oz	943.8	46.5	0	0	324
Great Wall Ref China (GRE)	2232 bars	2177261.6 Oz	975.5	14.9	492	0	559
Handy Harman USA (HAN)	14043 bars	13990396.8 Oz	996.3	37.8	31	0	1849
Henan Yuguang Gold and Lead Co Ltd (HEN)	15289 bars	15106374.4 Oz	988.1	23.9	118	0	1141
Heraeus Germany (HER)	245 bars	234056.6 Oz	955.3	40.7	0	0	165
Hoboken Belgium (HOB)	8104 bars	7409648.8 Oz	914.3	100.9	705	0	2303
Hunan Zhuzhou China (HUN)	2636 bars	2654927.4 Oz	1007.2	11.4	0	0	504
Inco ltd, Canada (INC)	1064 bars	1108092.4 Oz	1041.4	26.3	15	0	664
Industrial Minera Mexico (IND)	1973 bars	2073514.8 Oz	1050.9	27.0	15	0	856
Inner Mongolia Qiankun Gold & Silver (INN)	11248 bars	11044180.0 Oz	981.9	25.8	859	4	1402
JBR Recovery UK (JBR)	2123 bars	2298177.6 Oz	1082.5	69.2	0	0	1199
Jiangxi Copper Co Ltd (JIA)	6040 bars	6137224.0 Oz	1016.1	39.7	60	0	1575
John Betts UK (JO1)	396 bars	423189.3 Oz	1068.7	63.1	0	0	343
Johnson Matthey Canada (JO3)	2734 bars	2730586.0 Oz	998.8	34.4	3	0	1186
Johnson Matthey UK (JO4)	2679 bars	2701724.4 Oz	1008.5	34.3	7	0	1123
Johnson Matthey USA (JO5)	8227 bars	8050584.0 Oz	978.6	29.0	7	0	1407
JSC Ekaterinburg Non-Ferrous Metals (JSC)	360 bars	350972.4 Oz	974.9	22.7	0	0	291
KGHM Poland (KGH)	8877 bars	8979456.0 Oz	1011.5	15.7	1598	6	876
Kazzinc. Kazakhstan (KAZ)	1164 bars	1126876.9 Oz	968.1	20.6	0	0	605
Kennecott Copper USA (KEN)	595 bars	607179.4 Oz	1020.5	44.8	0	0	501
Korea Zinc Co Ltd (KOR)	3815 bars	3728304.8 Oz	977.3	23.6	0	0	1014
Krasnoyarsk Russia (KRA)	7626 bars	7190197.6 Oz	942.9	21.4	135	0	1010
Matsuda Sangyo (MAT)	545 bars	524397.7 Oz	962.2	18.9	0	0	374
Met Precieux Switzerland (ME1)	499 bars	485811.8 Oz	973.6	38.9	2	0	423
Met-Mex Penoles Mexico (ME2)	18446 bars	19329820.8 Oz	1047.9	21.0	986	2	1031
Metalor Ref Corp USA (ME3)	4 bars	3935.9 Oz	984.0	44.1	0	0	4
Min Met Penarroya Spain (MI1)	86 bars	81439.6 Oz	947.0	48.6	0	0	83
Mitsubishi Mining Japan (MI2)	4462 bars	4329049.6 Oz	970.2	21.1	1	0	949
Mitsui Mining Japan (MI3)	902 bars	863649.0 Oz	957.5	18.2	0	0	497
Neimenggu Ref China (NEI)	161 bars	166404.7 Oz	1033.6	26.9	0	0	145
Nippon Mining Japan (NIP)	2685 bars	2513172.4 Oz	936.0	13.1	118	1	599
Noranda Canada (NO1)	7716 bars	7817189.6 Oz	1013.1	29.8	245	0	1384
Nordeutsche Germany (NO4)	5157 bars	4579499.2 Oz	888.0	74.1	0	0	1761
Novosibrisk Refinery Russia (NO5)	411 bars	402038.6 Oz	978.2	18.7	0	0	325
OJSC Kolyma (OJS)	3452 bars	3304728.0 Oz	957.3	22.8	0	0	962
Orispania Bilbao (ORI)	124 bars	117668.2 Oz	948.9	37.3	0	0	120
Perth Mint Australia (PER)	3 bars	3164.7 Oz	1054.9	16.3	0	0	3
Port Pirie(Zinifex,Pasminco,Broken Hill (POR)	759 bars	713709.4 Oz	940.3	40.7	0	0	538
Prioksky Russia (PRI)	5389 bars	5203102.0 Oz	965.5	21.7	63	0	1012
Rand Refinery (RAN)	840 bars	841019.5 Oz	1001.2	75.4	2	0	692
Real del Monty Pac'a Mexico (REA)	589 bars	619079.2 Oz	1051.1	38.5	0	0	484
Royal Canadian Mint (ROY)	4 bars	3679.4 Oz	919.9	13.5	0	0	4
Russian State Refineries (RUS)	48439 bars	46371948.8 Oz	957.3	21.3	14514	26	1257
Sheffield Smelting Co UK (SH1)	461 bars	458806.2 Oz	995.2	48.7	1	0	409
Shenzhen Zhongjin Co Ltd China (SH2)	3719 bars	3683477.6 Oz	990.4	6.6	25	0	340
Shui Kou Shan Mining China (SH3)	4748 bars	4806245.6 Oz	1012.3	27.3	138	0	1164
Shyolkovsky Russia (SH4)	1186 bars	1133162.5 Oz	955.4	15.7	0	0	530
Solar Applied Materials Corp Taiwan (SOL)	5681 bars	5584015.2 Oz	982.9	17.6	3	0	847
Sumitomo Corp Japan (SUM)	1794 bars	1754068.8 Oz	977.7	16.3	25	0	617
Tanaka Kikinzoku Japan (TAN)	2 bars	2136.7 Oz	1068.3	13.4	0	0	2
Toho Zinc Japan (TOH)	2394 bars	2315037.2 Oz	967.0	21.3	0	0	825
Tongling Nonferrous Metals China (TON)	1615 bars	1546837.3 Oz	957.8	13.0	0	0	516
Trepca Yugoslavia (TRE)	164 bars	156075.5 Oz	951.7	33.5	0	0	156
U.S Assay Office (USA)	251 bars	264211.6 Oz	1052.6	36.8	0	0	216
Uralelectromed Russia. YA (URA)	694 bars	666146.7 Oz	959.9	18.4	18	0	443
W Canning UK (WCA)	64 bars	69652.7 Oz	1088.3	55.5	0	0	64
Yunnan Copper Ind' Ltd China (YUN)	6219 bars	6354328.0 Oz	1021.8	24.5	2887	2	1164
Zaklady Met Trzebina Poland (ZAK)	1202 bars	1083741.6 Oz	901.6	35.3	1	0	707

Duplicate Serial Numbers & Weights

Refiner	Serial	Fineness	Weight	Location
AS3	146230	9990	997.8	JPMA, JPMA
BRI	1118	9990	999.9	JPMV, JPMV
BRI	1804	9990	1,007.9	BRIA, BRIA
BRI	2247	9990	987.3	BRIA, BRIA
BRI	2318	9990	946.4	BRIA, BRIA
BRI	3491	9990	995.8	BRIA, BRIA
BRI	5351	9990	929.0	JPMV, JPMV
BRI	5394	9990	978.9	JPMA, JPMA
BRI	5668	9990	925.2	JPMV, JPMV
BRI	5764	9990	962.9	JPMA, JPMA
BRI	5785	9990	957.5	JPMV, JPMV
BRI	6996	9990	960.7	JPMA, JPMA
BRI	8021	9990	906.5	JPMV, JPMV
BRI	V2029	9990	977.3	JPMA, JPMA
BRI	W10613	9990	956.3	JPMA, JPMA
BRI	W11430	9990	1,034.0	JPMA, JPMA
EMP	449	9999	1,040.7	BRIU, BRIU
EMP	505	9999	1,070.0	BRIU, BRIU
EMP	544	9999	1,050.4	JPMV, JPMV
EMP	647	9999	1,030.8	VIAM, VIAM
EMP	765	9999	1,020.4	VIAM, VIAM
EMP	873	9999	1,027.4	JPMV, JPMV
INN	26	9990	977.4	BRIU, BRIU
INN	602627	9990	977.4	BRIU, BRIU
INN	607230	9990	987.8	BRIA, BRIA
INN	62	9999	1,056.9	BRIU, BRIU
KGH	1758	9999	1,021.7	BRIU, BRIU
KGH	3107	9999	1,011.7	JPMV, JPMV
KGH	3152	9999	1,009.8	JPMV, JPMV
KGH	3188	9999	1,025.7	JPMV, JPMV
KGH	5447	9999	1,022.6	JPMV, JPMV
KGH	8959	9999	1,015.3	BRIU, BRIU
ME2	15336	9990	1,056.2	VIAM, VIAM
ME2	36860	9999	1,053.2	JPMV, JPMV
NIP	9383	9999	940.8	BRIA, BRIA
RUS	1118	9999	947.3	BRIU, BRIU
RUS	1126	9999	952.4	BRIU, BRIU
RUS	1337	9999	939.1	BRIA, BRIA
RUS	13411	9999	959.9	BRIU, BRIU
RUS	1423	9998	956.2	JPMA, JPMA
RUS	1453	9999	947.8	BRIU, BRIU
RUS	1641	9999	937.8	BRIU, BRIU
RUS	1668	9999	954.4	BRIA, BRIA
RUS	20210	9999	951.5	BRIA, BRIA
RUS	2033	9999	946.9	BRIA, BRIA
RUS	2134	9999	962.7	BRIA, BRIA
RUS	21911	9999	957.7	BRIA, BRIA
RUS	2209	9999	974.5	JPMA, JPMA
RUS	22112	9999	968.1	BRIA, BRIA
RUS	22211	9999	970.5	JPMA, JPMA
RUS	2578	9999	931.7	BRIA, BRIA
RUS	2653	9999	943.2	BRIA, BRIA
RUS	28410	9999	950.5	BRIA, BRIA
RUS	2916	9998	953.4	JPMA, JPMA
RUS	2985	9999	956.3	JPMA, JPMA
RUS	3096	9999	944.9	BRIA, BRIA
RUS	39910	9999	948.0	BRIA, BRIA
RUS	5654	9999	952.6	JPMA, JPMA
RUS	71258	9999	977.6	BRIU, BRIU
RUS	M1343	9999	944.0	JPMV, JPMV
RUS	N2311	9999	950.7	JPMV, JPMV
YUN	2015	9999	1,027.0	BRIU, BRIU
YUN	442	9999	997.7	BRIU, BRIU

Bars Removed:

Refiner	Serial	Fineness	Weight	Location

Bars Added:

Refiner	Serial	Fineness	Weight	Location

Serial Number Changes:

Refiner	Old Serial	New Serial	Fineness	Weight	Location

Stats

# Bars:	299412
# Ounces:	294211413.4
Average Bar Weight:	982.6 ounces
Lightest bar:	516 ounces.
Heaviest bar:	1243 ounces.
Shortest Serial Length:	1
Longest Serial Length:	11
Duplicate Serial & Weight Count:	126 (about 1 in 2376 bars)
Duplicate Serial Only Count:	77374 (about 1 in 3.9 bars)
Duplicate Bars With Exact Weight:	1 in 614 duplicate bars
Total Weights:	5018
Number of Refiners:	79

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 299412 bars, occasional accounting errors are inevitable.