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SLV Bar Analysis for 27 May 2015 (from 20 May 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)	25169 bars 25,123,441.5 oz	25169 bars 25,123,441.5 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)	141849 bars 137,779,561.0 oz	141849 bars 137,779,561.0 oz	0 bars 0.0 oz	0 bars 0.0 oz	8127	20
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	5498	7
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)	99084 bars 95,904,785.1 oz	99084 bars 95,904,785.1 oz	0 bars 0.0 oz	0 bars 0.0 oz	11255	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)	327091 bars 317,931,407.3 oz	327091 bars 317,931,407.3 oz	0 bars 0.0 oz	0 bars 0.0 oz	49762	78

Refinery Summary

Refiner	# Bars	Ounces	Average Oz	Stand. Dev.	Serial Only Duplicates	Serial & Weight Duplicates	# Weights
AMax Inc. USA (AMA)	85 bars	84,576.1 Oz	995.0	25.7	0	0	82
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)	3317 bars	3,255,307.9 Oz	981.4	22.6	0	0	878
Asarco Various (AS2)	3 bars	2,964.2 Oz	988.1	22.8	0	0	3
Asarco Inc Amarillo (AS3)	375 bars	375,188.1 Oz	1000.5	21.6	1	0	292
Aurubis AG Germany (AUR)	8590 bars	7,483,447.5 Oz	871.2	31.4	0	0	1505
Australian Gold Refineries (AUS)	41 bars	30,405.0 Oz	741.6	14.9	0	0	41
Boliden Mineral Sweden (BOL)	306 bars	315,936.5 Oz	1032.5	31.9	0	0	274
Britannia Refined Metals U.K (BRI)	15812 bars	15,121,551.9 Oz	956.3	48.4	4633	3	2440
Comptoir Lyon-Alemand FRA (COM)	37 bars	36,068.8 Oz	974.8	33.5	0	0	37
Cominco Ltd Tadanac Canada (CO1)	1442 bars	1,517,336.5 Oz	1052.2	17.6	1	0	616
Daye Non-Ferrous Metals China (DAY)	922 bars	892,238.6 Oz	967.7	25.5	1	0	603
Degussa Frankfurt (DEG)	53 bars	56,478.0 Oz	1065.6	34.8	0	0	52
Doe Run Peru SSL (DOE)	2944 bars	3,072,651.1 Oz	1043.7	27.0	677	0	909
Dowa Mining Japan (DOW)	1739 bars	1,697,435.6 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)	9 bars	9,252.1 Oz	1028.0	43.2	0	0	9
Engelhard USA (EN4)	30 bars	29,798.1 Oz	993.3	43.2	0	0	30
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)	310 bars	310,268.2 Oz	1000.9	42.8	0	0	271
Henan Yuguang Gold and Lead Co Ltd (HEN)	15824 bars	15,432,727.7 Oz	975.3	26.1	13	0	1422
Hoboken Belgium (HOB)	1362 bars	1,345,766.7 Oz	988.1	32.1	9	0	804
Hunan Zhuzhou China (HUN)	320 bars	320,619.6 Oz	1001.9	17.3	0	0	266
Inco ltd, Canada (INC)	143 bars	150,760.3 Oz	1054.3	22.7	1	0	135
Industrial Minera Mexico (IND)	250 bars	263,787.1 Oz	1055.1	30.8	0	0	215
Inner Mongolia Qiankun Gold & Silver (INN)	15250 bars	14,962,902.6 Oz	981.2	22.9	4434	8	1369
JBR Recovery UK (JBR)	300 bars	314,814.1 Oz	1049.4	80.9	0	0	263
Jiangxi Copper Co Ltd (JIA)	6166 bars	6,294,574.8 Oz	1020.9	31.7	0	0	1382
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)	631 bars	619,705.1 Oz	982.1	46.0	0	0	504
Johnson Matthey USA (JO6)	5283 bars	5,276,139.5 Oz	998.7	34.1	1	0	1393
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)	10725 bars	10,841,395.4 Oz	1010.9	15.6	509	0	904
Kazzinc. Kazakhstan (former) (KAZ)	3404 bars	3,304,106.9 Oz	970.7	22.2	0	0	950
Kazakhmys PLC Kazakhstan (KA2)	13478 bars	13,116,486.4 Oz	973.2	19.9	84	0	1096
Kennecott Copper USA (KEN)	52 bars	51,468.0 Oz	989.8	47.1	0	0	52
Korea Zinc Co Ltd (KOR)	11381 bars	11,095,174.4 Oz	974.9	18.3	0	0	996
Krasnoyarsk Russia (KRA)	18380 bars	17,556,609.6 Oz	955.2	19.2	54	0	1049
LS-Nikko Copper Ltd Korea (LSN)	675 bars	648,372.0 Oz	960.6	26.0	0	0	500
Matsuda Sangyo (MAT)	627 bars	605,490.7 Oz	965.7	19.2	0	0	410
Met Precieux Switzerland (ME1)	18 bars	16,971.2 Oz	942.8	32.8	0	0	18
Met-Mex Penoles Mexico (ME4)	5458 bars	5,699,434.9 Oz	1044.2	21.0	24	0	938
Mitsui Mining Japan (MI3)	1107 bars	1,061,451.5 Oz	958.9	23.1	0	0	628
Mitsubishi Materials Corporation (MI4)	5325 bars	5,167,026.3 Oz	970.3	20.5	0	0	982
Neimenggu Ref China (NEI)	160 bars	166,603.3 Oz	1041.3	18.8	0	0	142
Nippon Mining Japan (NIP)	4390 bars	4,070,491.4 Oz	927.2	12.3	0	0	620
Noranda Canada (NO1)	487 bars	493,652.6 Oz	1013.7	26.4	0	0	379
Noranda Canada (NO2)	216 bars	217,774.7 Oz	1008.2	29.0	0	0	197
Nordeutsche Germany (NO4)	17465 bars	15,020,511.0 Oz	860.0	33.5	0	0	1801
Novosibrisk Refinery Russia (NO5)	57 bars	54,287.1 Oz	952.4	16.9	0	0	54
Nyrstar (NYR)	144 bars	136,928.1 Oz	950.9	32.9	143	9	135
OJSC Kolyma (OJS)	8248 bars	7,887,145.0 Oz	956.2	20.8	0	0	1069
Pamp Sa Switzerland (PAM)	1112 bars	1,117,022.7 Oz	1004.5	26.6	0	0	673
Port Pirie(Zinifex,Pasminco,Broken Hill (POR)	153 bars	144,385.7 Oz	943.7	33.5	0	0	144
Prioksky Russia (PRI)	5256 bars	5,069,572.2 Oz	964.5	22.5	65	0	1027
Rand Refinery Ltd (RAN)	2 bars	2,214.3 Oz	1107.2	9.4	0	0	2
Real del Monty Pac'a Mexico (REA)	14 bars	14,993.0 Oz	1070.9	31.1	0	0	14
Royal Canadian Mint (ROY)	22 bars	21,159.1 Oz	961.8	69.6	0	0	22
Russian State Refineries (RUS)	34939 bars	33,488,282.8 Oz	958.5	22.3	3797	2	1253
Sheffield Smelting Co UK (SH1)	19 bars	19,307.9 Oz	1016.2	51.2	0	0	19
Shenzhen Zhongjin Co Ltd China (SH2)	1233 bars	1,219,220.6 Oz	988.8	6.7	0	0	275
Shui Kou Shan Mining China (SH3)	6033 bars	6,097,292.3 Oz	1010.7	28.7	333	0	1296
Shyolkovsky Russia (SH4)	667 bars	633,551.2 Oz	949.9	16.8	0	0	420
Shandong Zhaojin Refinery Ltd (SH5)	108 bars	102,203.3 Oz	946.3	22.4	0	0	101
Solar Applied Materials Corp Taiwan (SOL)	39740 bars	39,545,092.6 Oz	995.1	22.4	2457	3	1311
Solar Metals (SO2)	3037 bars	3,029,489.0 Oz	997.5	19.7	0	0	809
Sumitomo Corp Japan (SUM)	2055 bars	2,009,959.8 Oz	978.1	16.0	0	0	642
Toho Zinc Japan (TOH)	3120 bars	2,998,481.1 Oz	961.1	20.5	16	0	866
Tongling Nonferrous Metals China (TON)	6856 bars	6,682,661.8 Oz	974.7	22.7	1110	2	1050
Trepca Yugoslavia (TRE)	2 bars	1,926.4 Oz	963.2	6.2	0	0	2
U.S Assay Office (USA)	8 bars	7,883.8 Oz	985.5	35.4	0	0	8
Uralelectromed Russia. YA (URA)	1752 bars	1,679,757.5 Oz	958.8	19.6	27	0	705
Valcambi Switzerland (VAL)	2484 bars	2,431,982.0 Oz	979.1	24.9	0	0	921
Yunnan Copper Ind' Ltd China (YUN)	12640 bars	12,921,284.8 Oz	1022.3	24.9	6131	11	1322
Zaklady Met Trzebina Poland (ZAK)	48 bars	44,613.6 Oz	929.5	25.4	0	0	46

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
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
NYR	PPLA9999		935.7	BRIU, BRIU
NYR	PPLA9999		940.7	BRIU, BRIU
NYR	PPLA9999		949.5	BRIU, BRIU
NYR	PPLA9999		964.5	BRIU, BRIU
NYR	PPLA9999		965.3	BRIU, BRIU
NYR	PPLA9999		965.3	BRIU, BRIU
NYR	PPLA9999		965.9	BRIU, BRIU
NYR	PPLA9999		967.0	BRIU, BRIU
NYR	PPLA9999		968.6	BRIU, BRIU
RUS	13411	9999	959.9	BRIU, BRIU
RUS	M1343	9999	944.0	JPMV, JPMV
SOL	10020506	9990	1,011.6	BRIU, BRIU
SOL	3226201	9998	978.5	BRIU, BRIC
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:	327091
# Ounces:	317931407.3
Average Bar Weight:	972.0 ounces
Lightest bar:	711 ounces.
Heaviest bar:	1215 ounces.
Shortest Serial Length:	1
Longest Serial Length:	11
Duplicate Serial & Weight Count:	78 (about 1 in 4193 bars)
Duplicate Serial Only Count:	49762 (about 1 in 6.6 bars)
Duplicate Bars With Exact Weight:	1 in 637 duplicate bars
Total Weights:	3531
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 327091 bars, occasional accounting errors are inevitable.