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SLV Bar Analysis for 23 Jul 2014 (from 16 Jul 2014 )

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)	155049 bars 150,904,520.4 oz	155049 bars 150,904,520.4 oz	0 bars 0.0 oz	0 bars 0.0 oz	10737	19
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	5117	5
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)	94955 bars 91,897,007.0 oz	94955 bars 91,897,007.0 oz	0 bars 0.0 oz	0 bars 0.0 oz	11798	9
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)	331844 bars 322,746,368.6 oz	331844 bars 322,746,368.6 oz	0 bars 0.0 oz	0 bars 0.0 oz	55306	68

Refinery Summary

Refiner	# Bars	Ounces	Average Oz	Stand. Dev.	Serial Only Duplicates	Serial & Weight Duplicates	# Weights
AMax Inc. USA (AMA)	521 bars	520,076.2 Oz	998.2	29.2	1	0	403
Almalyk Uzbekistan (ALM)	2323 bars	2,248,960.8 Oz	968.1	20.0	205	1	784
Anhui Tongda Copper Ltd China (ANH)	2 bars	1,929.4 Oz	964.7	1.8	0	0	2
Argor-Heraeus SA Switzerland (ARG)	340 bars	326,523.6 Oz	960.4	25.3	0	0	286
Asahi Pretec Corp Japan (AS1)	1901 bars	1,854,518.1 Oz	975.5	8.0	0	0	350
Asarco Various (AS2)	3 bars	2,964.2 Oz	988.1	22.8	0	0	3
Asarco Inc Amarillo (AS3)	3129 bars	3,112,144.6 Oz	994.6	21.5	2	1	884
Aurubis AG Germany (AUR)	7054 bars	6,148,098.7 Oz	871.6	31.1	0	0	1427
Australian Gold Refineries (AUS)	2240 bars	1,683,604.3 Oz	751.6	29.7	1	0	996
Boliden Mineral Sweden (BOL)	261 bars	269,149.3 Oz	1031.2	33.1	0	0	238
Britannia Refined Metals U.K (BRI)	21573 bars	20,918,852.4 Oz	969.7	56.3	7300	5	2839
Burma Mines (BUR)	11 bars	12,867.4 Oz	1169.8	19.3	0	0	11
Comptoir Lyon-Alemand FRA (COM)	547 bars	528,188.0 Oz	965.6	40.9	11	0	457
Cominco Ltd Tadanac Canada (CO1)	1703 bars	1,792,303.4 Oz	1052.4	18.0	5	0	665
Daye Non-Ferrous Metals China (DAY)	716 bars	695,881.2 Oz	971.9	26.6	1	0	515
Degussa Frankfurt (DEG)	2324 bars	2,457,468.6 Oz	1057.4	42.0	47	0	1197
Doe Run Peru SSL (DOE)	2910 bars	3,042,831.8 Oz	1045.6	24.5	687	0	870
Dowa Mining Japan (DOW)	1816 bars	1,774,961.5 Oz	977.4	20.2	0	0	737
ERANDS. Southern Copper Ltd. (ERA)	120 bars	128,143.9 Oz	1067.9	17.8	0	0	111
Engelhard Clal Paris (EN2)	2 bars	2,235.4 Oz	1117.7	7.9	0	0	2
Engelhard UK (EN3)	82 bars	81,884.6 Oz	998.6	50.0	0	0	81
Engelhard USA (EN4)	211 bars	210,755.9 Oz	998.8	35.9	0	0	195
Espanola Metales Spain (ESP)	368 bars	347,329.6 Oz	943.8	46.5	0	0	324
Great Wall Ref China (GRE)	1118 bars	1,095,314.3 Oz	979.7	17.3	303	0	478
Guangxi Chengyuan Mining China (GUA)	1467 bars	1,416,866.4 Oz	965.8	21.2	0	0	673
Handy Harman USA (HAN)	8153 bars	8,105,384.3 Oz	994.2	37.1	16	0	1683
Henan Yuguang Gold and Lead Co Ltd (HEN)	15858 bars	15,480,701.3 Oz	976.2	25.3	12	0	1394
Heraeus Germany (HER)	155 bars	148,111.5 Oz	955.6	45.5	0	0	112
Hoboken Belgium (HOB)	3080 bars	3,023,312.0 Oz	981.6	32.9	40	0	1194
Hunan Zhuzhou China (HUN)	320 bars	320,619.6 Oz	1001.9	17.3	0	0	266
Inco ltd, Canada (INC)	523 bars	544,057.4 Oz	1040.3	27.1	4	0	415
Industrial Minera Mexico (IND)	637 bars	670,934.1 Oz	1053.3	28.3	1	0	469
Inner Mongolia Qiankun Gold & Silver (INN)	14884 bars	14,603,068.6 Oz	981.1	23.0	4186	7	1367
JBR Recovery UK (JBR)	857 bars	972,252.0 Oz	1134.5	76.1	0	0	636
Jiangxi Copper Co Ltd (JIA)	5982 bars	6,107,323.5 Oz	1021.0	31.9	0	0	1375
John Betts UK (JO1)	249 bars	266,804.4 Oz	1071.5	68.5	0	0	224
Johnson Matthey Canada (JO3)	216 bars	217,490.9 Oz	1006.9	33.7	0	0	197
Johnson Matthey UK (JO4)	1732 bars	1,741,095.7 Oz	1005.3	38.8	0	0	977
Johnson Matthey USA (JO6)	5920 bars	5,901,395.7 Oz	996.9	34.2	3	0	1442
Johnson Matthey USA (JO5)	14799 bars	14,639,432.3 Oz	989.2	31.0	0	0	1644
JSC Ekaterinburg Non-Ferrous Metals (JSC)	573 bars	560,088.6 Oz	977.5	21.2	0	0	410
KCM SA Bulgaria (KCM)	417 bars	410,958.1 Oz	985.5	12.9	46	0	266
KGHM Poland (KGH)	10307 bars	10,420,836.9 Oz	1011.0	15.6	446	0	900
Kazzinc. Kazakhstan (former) (KAZ)	3167 bars	3,077,859.2 Oz	971.9	21.7	0	0	907
Kazakhmys PLC Kazakhstan (KA2)	9210 bars	8,959,485.4 Oz	972.8	19.7	0	0	1036
Kennecott Copper USA (KEN)	197 bars	201,623.3 Oz	1023.5	40.4	0	0	180
Korea Zinc Co Ltd (KOR)	9197 bars	8,962,367.0 Oz	974.5	18.1	0	0	963
Krasnoyarsk Russia (KRA)	17013 bars	16,249,902.0 Oz	955.1	19.5	49	0	1044
LS-Nikko Copper Ltd Korea (LSN)	675 bars	648,372.0 Oz	960.6	26.0	0	0	500
Matsuda Sangyo (MAT)	603 bars	582,736.9 Oz	966.4	19.2	0	0	407
Met Precieux Switzerland (ME1)	12 bars	11,829.1 Oz	985.8	35.0	0	0	12
Met-Mex Penoles Mexico (ME4)	5015 bars	5,233,881.2 Oz	1043.6	21.1	54	0	930
Min Met Penarroya Spain (MI1)	60 bars	57,230.0 Oz	953.8	49.8	0	0	59
Mitsui Mining Japan (MI3)	1022 bars	979,892.6 Oz	958.8	21.9	0	0	590
Mitsubishi Materials Corporation (MI4)	5177 bars	5,025,636.5 Oz	970.8	20.6	0	0	979
Neimenggu Ref China (NEI)	261 bars	271,284.8 Oz	1039.4	19.3	74	1	217
Nippon Mining Japan (NIP)	4092 bars	3,799,193.1 Oz	928.4	13.2	51	0	657
Noranda Canada (NO1)	4302 bars	4,359,716.2 Oz	1013.4	28.5	29	0	1203
Noranda Canada (NO2)	135 bars	135,801.1 Oz	1005.9	25.8	0	0	125
Nordeutsche Germany (NO4)	16784 bars	14,441,742.2 Oz	860.4	35.4	0	0	1839
Novosibrisk Refinery Russia (NO5)	303 bars	295,703.0 Oz	975.9	20.2	0	0	248
OJSC Kolyma (OJS)	8011 bars	7,660,517.7 Oz	956.2	20.8	0	0	1067
Pamp Sa Switzerland (PAM)	1096 bars	1,101,755.1 Oz	1005.3	25.8	0	0	663
Port Pirie(Zinifex,Pasminco,Broken Hill (POR)	153 bars	144,385.7 Oz	943.7	33.5	0	0	144
Prioksky Russia (PRI)	5498 bars	5,304,914.6 Oz	964.9	22.2	50	0	1025
Rand Refinery Ltd (RAN)	5 bars	5,737.1 Oz	1147.4	37.2	0	0	5
Real del Monty Pac'a Mexico (REA)	285 bars	300,382.2 Oz	1054.0	33.8	0	0	247
Royal Canadian Mint (ROY)	22 bars	21,159.1 Oz	961.8	69.6	0	0	22
Russian State Refineries (RUS)	40485 bars	38,786,402.3 Oz	958.0	22.2	6178	8	1257
Sheffield Smelting Co UK (SH1)	399 bars	396,629.6 Oz	994.1	49.7	1	0	365
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)	5178 bars	5,228,406.3 Oz	1009.7	28.6	214	0	1245
Shyolkovsky Russia (SH4)	661 bars	627,922.1 Oz	950.0	16.8	0	0	419
Solar Applied Materials Corp Taiwan (SOL)	25550 bars	25,376,494.3 Oz	993.2	22.6	1058	0	1281
Sumitomo Corp Japan (SUM)	2037 bars	1,991,966.0 Oz	977.9	15.9	17	0	635
Tanaka Kikinzoku Japan (TAN)	1 bars	1,058.9 Oz	1058.9	0.0	0	0	1
Toho Zinc Japan (TOH)	2990 bars	2,877,519.8 Oz	962.4	20.8	10	0	867
Tongling Nonferrous Metals China (TON)	6494 bars	6,328,704.1 Oz	974.5	22.6	1099	2	1036
Trepca Yugoslavia (TRE)	51 bars	48,205.7 Oz	945.2	31.3	0	0	50
U.S Assay Office (USA)	121 bars	127,265.6 Oz	1051.8	38.0	0	0	114
Uralelectromed Russia. YA (URA)	1601 bars	1,536,138.2 Oz	959.5	20.0	26	0	681
Valcambi Switzerland (VAL)	2052 bars	2,016,880.2 Oz	982.9	21.2	0	0	778
W Canning UK (WCA)	64 bars	69,652.7 Oz	1088.3	55.5	0	0	64
Yunnan Copper Ind' Ltd China (YUN)	11814 bars	12,070,791.4 Oz	1021.7	24.9	5424	9	1307
Zaklady Met Trzebina Poland (ZAK)	213 bars	199,016.2 Oz	934.3	22.1	1	0	191

Duplicate Serial Numbers & Weights

Refiner	Serial	Fineness	Weight	Location
ALM	937	9999	964.6	JPMV, JPMV
AS3	146230	9990	997.8	BRIU, BRIU
BRI	1107	9990	934.3	JPMV, JPMV
BRI	5394	9990	978.9	BRIU, BRIU
BRI	8021	9990	906.5	JPMV, JPMV
BRI	V2029	9990	977.3	BRIU, BRIU
BRI	W10613	9990	956.3	BRIU, BRIU
INN	601598	9999	987.0	BRIU, BRIU
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
NEI	67	9999	1,038.1	BRIU, BRIU
RUS	13411	9999	959.9	BRIU, BRIU
RUS	1423	9998	956.2	BRIU, BRIU
RUS	1453	9999	947.8	BRIU, BRIU
RUS	1641	9999	937.8	BRIU, BRIU
RUS	2209	9999	974.5	BRIU, BRIU
RUS	2916	9998	953.4	BRIU, BRIU
RUS	5654	9999	952.6	BRIU, BRIU
RUS	M1343	9999	944.0	JPMV, JPMV
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	2708	9999	1,007.7	BRIU, BRIC
YUN	375	9999	1,027.8	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:	331844
# Ounces:	322746368.6
Average Bar Weight:	972.6 ounces
Lightest bar:	580 ounces.
Heaviest bar:	1243 ounces.
Shortest Serial Length:	1
Longest Serial Length:	11
Duplicate Serial & Weight Count:	68 (about 1 in 4880 bars)
Duplicate Serial Only Count:	55306 (about 1 in 6.0 bars)
Duplicate Bars With Exact Weight:	1 in 813 duplicate bars
Total Weights:	4796
Number of Refiners:	85

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 331844 bars, occasional accounting errors are inevitable.