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SLV Bar Analysis for 23 Dec 2013 (from 18 Dec 2013 )

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)	20871 bars 20,841,456.5 oz	20871 bars 20,841,456.5 oz	0 bars 0.0 oz	0 bars 0.0 oz	158	7
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)	166112 bars 162,227,118.4 oz	166112 bars 162,227,118.4 oz	0 bars 0.0 oz	0 bars 0.0 oz	15315	26
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	5464	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)	86672 bars 83,810,164.9 oz	86672 bars 83,810,164.9 oz	0 bars 0.0 oz	0 bars 0.0 oz	12616	12
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)	334644 bars 326,002,359.5 oz	334644 bars 326,002,359.5 oz	0 bars 0.0 oz	0 bars 0.0 oz	67108	102

Refinery Summary

Refiner	# Bars	Ounces	Average Oz	Stand. Dev.	Serial Only Duplicates	Serial & Weight Duplicates	# Weights
AMax Inc. USA (AMA)	666 bars	664,541.9 Oz	997.8	30.6	1	0	477
Almalyk Uzbekistan (ALM)	2737 bars	2,646,181.9 Oz	966.8	20.1	224	1	825
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)	1611 bars	1,572,397.0 Oz	976.0	8.4	0	0	347
Asarco Various (AS2)	3 bars	2,964.2 Oz	988.1	22.8	0	0	3
Asarco Inc Amarillo (AS3)	3897 bars	3,873,381.1 Oz	993.9	22.0	3	1	940
Aurubis AG Germany (AUR)	7120 bars	6,206,310.2 Oz	871.7	31.1	0	0	1431
Australian Gold Refineries (AUS)	2618 bars	1,964,645.3 Oz	750.4	29.1	4	0	1038
Boliden Mineral Sweden (BOL)	261 bars	269,149.3 Oz	1031.2	33.1	0	0	238
Britannia Refined Metals U.K (BRI)	22880 bars	22,194,887.8 Oz	970.1	57.5	8167	7	2895
Burma Mines (BUR)	14 bars	16,421.5 Oz	1173.0	19.1	0	0	14
Comptoir Lyon-Alemand FRA (COM)	621 bars	600,553.1 Oz	967.1	40.7	15	0	507
Cominco Ltd Tadanac Canada (CO1)	2006 bars	2,110,765.5 Oz	1052.2	18.0	12	0	701
Daye Non-Ferrous Metals China (DAY)	650 bars	632,158.4 Oz	972.6	26.6	1	0	475
Degussa Frankfurt (DEG)	4882 bars	5,140,644.3 Oz	1053.0	42.6	311	0	1615
Doe Run Peru SSL (DOE)	3882 bars	4,044,325.3 Oz	1041.8	32.4	962	0	1094
Dowa Mining Japan (DOW)	999 bars	978,883.8 Oz	979.9	19.6	0	0	538
ERANDS. Southern Copper Ltd. (ERA)	120 bars	128,143.9 Oz	1067.9	17.8	0	0	111
Engelhard Clal Paris (EN2)	5 bars	5,193.2 Oz	1038.6	72.4	0	0	5
Engelhard UK (EN3)	94 bars	94,156.0 Oz	1001.7	50.2	0	0	93
Engelhard USA (EN4)	300 bars	299,771.8 Oz	999.2	36.5	0	0	271
Espanola Metales Spain (ESP)	368 bars	347,329.6 Oz	943.8	46.5	0	0	324
Great Wall Ref China (GRE)	1298 bars	1,269,940.8 Oz	978.4	17.2	483	0	496
Guangxi Chengyuan Mining China (GUA)	1467 bars	1,416,866.4 Oz	965.8	21.2	0	0	673
Handy Harman USA (HAN)	12733 bars	12,706,822.2 Oz	997.9	37.3	30	0	1822
Henan Yuguang Gold and Lead Co Ltd (HEN)	16271 bars	15,912,647.2 Oz	978.0	25.0	35	0	1376
Heraeus Germany (HER)	185 bars	176,705.3 Oz	955.2	42.1	0	0	137
Hoboken Belgium (HOB)	4037 bars	3,972,975.5 Oz	984.1	32.7	103	0	1279
Hunan Zhuzhou China (HUN)	320 bars	320,619.6 Oz	1001.9	17.3	0	0	266
Inco ltd, Canada (INC)	661 bars	688,506.2 Oz	1041.6	27.4	6	0	492
Industrial Minera Mexico (IND)	765 bars	805,980.9 Oz	1053.6	29.2	2	0	536
Inner Mongolia Qiankun Gold & Silver (INN)	15591 bars	15,298,212.3 Oz	981.2	22.8	4498	7	1368
JBR Recovery UK (JBR)	883 bars	1,002,477.0 Oz	1135.3	75.5	0	0	648
Jiangxi Copper Co Ltd (JIA)	5974 bars	6,114,738.1 Oz	1023.6	31.0	0	0	1348
John Betts UK (JO1)	273 bars	294,853.5 Oz	1080.0	71.4	0	0	244
Johnson Matthey Canada (JO3)	216 bars	217,490.9 Oz	1006.9	33.7	0	0	197
Johnson Matthey UK (JO4)	1995 bars	2,007,141.7 Oz	1006.1	37.4	0	0	1037
Johnson Matthey USA (JO6)	6910 bars	6,865,613.5 Oz	993.6	35.4	4	0	1537
Johnson Matthey USA (JO5)	14964 bars	14,801,601.3 Oz	989.1	31.1	158	7	1651
JSC Ekaterinburg Non-Ferrous Metals (JSC)	361 bars	351,900.6 Oz	974.8	22.8	0	0	292
KGHM Poland (KGH)	9278 bars	9,386,297.3 Oz	1011.7	15.7	1162	3	881
Kazzinc. Kazakhstan (former) (KAZ)	1164 bars	1,126,876.9 Oz	968.1	20.6	0	0	605
Kazakhmys PLC Kazakhstan (KA2)	3058 bars	2,968,420.2 Oz	970.7	20.1	0	0	827
Kennecott Copper USA (KEN)	348 bars	356,186.7 Oz	1023.5	42.9	0	0	311
Korea Zinc Co Ltd (KOR)	7463 bars	7,277,025.6 Oz	975.1	19.2	0	0	981
Krasnoyarsk Russia (KRA)	14665 bars	13,998,629.9 Oz	954.6	19.5	69	0	1035
LS-Nikko Copper Ltd Korea (LSN)	675 bars	648,372.0 Oz	960.6	26.0	0	0	500
Matsuda Sangyo (MAT)	543 bars	524,598.1 Oz	966.1	19.3	0	0	380
Met Precieux Switzerland (ME1)	422 bars	412,937.1 Oz	978.5	37.9	1	0	366
Met-Mex Penoles Mexico (ME4)	10547 bars	11,042,013.4 Oz	1046.9	21.3	601	1	1015
Min Met Penarroya Spain (MI1)	86 bars	81,439.6 Oz	947.0	48.6	0	0	83
Mitsui Mining Japan (MI3)	923 bars	883,323.8 Oz	957.0	21.8	0	0	563
Mitsubishi Materials Corporation (MI4)	5230 bars	5,076,884.0 Oz	970.7	20.8	0	0	986
Neimenggu Ref China (NEI)	321 bars	333,008.0 Oz	1037.4	23.5	94	2	255
Nippon Mining Japan (NIP)	3539 bars	3,297,971.7 Oz	931.9	12.6	62	0	613
Noranda Canada (NO1)	5925 bars	6,008,878.5 Oz	1014.2	30.1	72	0	1330
Noranda Canada (NO2)	135 bars	135,801.1 Oz	1005.9	25.8	0	0	125
Nordeutsche Germany (NO4)	19489 bars	16,880,115.6 Oz	866.1	45.7	0	0	2183
Novosibrisk Refinery Russia (NO5)	342 bars	334,889.8 Oz	979.2	18.7	0	0	277
OJSC Kolyma (OJS)	7413 bars	7,089,597.8 Oz	956.4	20.8	0	0	1059
Port Pirie(Zinifex,Pasminco,Broken Hill (POR)	153 bars	144,385.7 Oz	943.7	33.5	0	0	144
Prioksky Russia (PRI)	5567 bars	5,374,474.2 Oz	965.4	22.2	23	0	1031
Rand Refinery Ltd (RAN)	144 bars	163,750.6 Oz	1137.2	37.0	0	0	140
Real del Monty Pac'a Mexico (REA)	378 bars	398,328.6 Oz	1053.8	34.8	0	0	317
Royal Canadian Mint (ROY)	26 bars	24,838.5 Oz	955.3	65.8	0	0	26
Russian State Refineries (RUS)	43509 bars	41,658,962.9 Oz	957.5	21.9	8673	11	1258
Sheffield Smelting Co UK (SH1)	423 bars	420,783.6 Oz	994.8	49.1	1	0	379
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)	4077 bars	4,107,171.4 Oz	1007.4	28.6	214	0	1175
Shyolkovsky Russia (SH4)	593 bars	563,973.1 Oz	951.1	16.5	0	0	388
Solar Applied Materials Corp Taiwan (SOL)	19726 bars	19,551,576.1 Oz	991.2	22.3	687	0	1247
Sumitomo Corp Japan (SUM)	1953 bars	1,909,472.4 Oz	977.7	16.1	24	0	633
Sunshine (SUN)	14 bars	14,040.9 Oz	1002.9	21.4	0	0	14
Tanaka Kikinzoku Japan (TAN)	2 bars	2,136.7 Oz	1068.3	13.4	0	0	2
Toho Zinc Japan (TOH)	2924 bars	2,814,471.2 Oz	962.5	21.0	10	0	860
Tongling Nonferrous Metals China (TON)	6475 bars	6,309,998.5 Oz	974.5	22.6	1099	2	1038
Trepca Yugoslavia (TRE)	89 bars	84,761.7 Oz	952.4	31.3	0	0	87
U.S Assay Office (USA)	186 bars	196,414.8 Oz	1056.0	37.8	0	0	167
Uralelectromed Russia. YA (URA)	858 bars	821,435.7 Oz	957.4	18.2	0	0	495
W Canning UK (WCA)	64 bars	69,652.7 Oz	1088.3	55.5	0	0	64
Yunnan Copper Ind' Ltd China (YUN)	12142 bars	12,404,682.6 Oz	1021.6	24.9	5741	9	1308
Zaklady Met Trzebina Poland (ZAK)	361 bars	334,941.8 Oz	927.8	26.9	1	0	304

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	5668	9990	925.2	BRIU, JPMV
BRI	8021	9990	906.5	JPMV, JPMV
BRI	V2029	9990	977.3	BRIU, BRIU
BRI	W10613	9990	956.3	BRIU, BRIU
BRI	W11430	9990	1,034.0	BRIU, BRIU
INN	601598	9990	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
JO5	CL279990		1,028.6	JPMN, JPMN
JO5	CL279990		953.0	JPMN, JPMN
JO5	CL279990		959.0	JPMN, JPMN
JO5	CL279990		982.6	JPMN, JPMN
JO5	CL299990		953.1	JPMN, JPMN
JO5	CL299990		954.3	JPMN, JPMN
JO5	CL299990		974.0	JPMN, JPMN
KGH	1758	9999	1,021.7	BRIU, BRIC
KGH	3152	9999	1,009.8	BRIU, JPMV
KGH	3188	9999	1,025.7	BRIU, JPMV
ME4	36860	9999	1,053.2	BRIU, JPMV
NEI	24	9999	1,054.1	BRIU, BRIU
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	22211	9999	970.5	BRIU, BRIU
RUS	2916	9998	953.4	BRIU, BRIU
RUS	2985	9999	956.3	BRIU, BRIU
RUS	5654	9999	952.6	BRIU, BRIU
RUS	M1343	9999	944.0	JPMV, JPMV
RUS	N2311	9999	950.7	BRIU, 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:	334644
# Ounces:	326002359.5
Average Bar Weight:	974.2 ounces
Lightest bar:	516 ounces.
Heaviest bar:	1243 ounces.
Shortest Serial Length:	1
Longest Serial Length:	11
Duplicate Serial & Weight Count:	102 (about 1 in 3280 bars)
Duplicate Serial Only Count:	67108 (about 1 in 5.0 bars)
Duplicate Bars With Exact Weight:	1 in 657 duplicate bars
Total Weights:	4928
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 334644 bars, occasional accounting errors are inevitable.