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SLV Bar Analysis for 29Oct10 (from 22Oct10 )

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)	90877 bars 88345612.8 oz	90877 bars 88345612.8 oz	0 bars 0.0 oz	0 bars 0.0 oz	7166	13
Brinks London A (BRIA)	31594 bars 30884457.6 oz	31594 bars 30884457.6 oz	0 bars 0.0 oz	0 bars 0.0 oz	6629	15
Via Mat International (VIAM)	32821 bars 32099414.4 oz	32821 bars 32099414.4 oz	0 bars 0.0 oz	0 bars 0.0 oz	2933	4
JPM London V (JPMV)	73003 bars 71047174.4 oz	73003 bars 71047174.4 oz	0 bars 0.0 oz	0 bars 0.0 oz	12478	16
JPM London A (JPMA)	106938 bars 106166873.6 oz	106938 bars 106166873.6 oz	0 bars 0.0 oz	0 bars 0.0 oz	16210	30
Total (n/a)	335233 bars 328543539.2 oz	335233 bars 328543539.2 oz	0 bars 0.0 oz	0 bars 0.0 oz	90836	160

Refinery Summary

Refiner	# Bars	Ounces	Average Oz	Stand. Dev.	Serial Only Duplicates	Serial & Weight Duplicates	# Weights
AMax Inc. USA (AMA)	1079 bars	1076486.8 Oz	997.7	32.2	1	0	691
Almalyk Uzbekistan (ALM)	2682 bars	2585481.2 Oz	964.0	20.0	115	0	808
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)	1131 bars	1104695.0 Oz	976.7	8.6	0	0	324
Asarco Various (AS2)	63 bars	62933.5 Oz	998.9	35.0	2	0	61
Asarco Inc Amarillo (AS3)	4779 bars	4756715.2 Oz	995.3	22.0	4	1	980
Australian Gold Refineries (AUS)	3380 bars	2719633.8 Oz	804.6	117.7	14	0	1528
Britannia Refined Metals U.K (BRI)	33714 bars	32589372.8 Oz	966.6	55.5	15337	19	3063
Burma Mines (BUR)	14 bars	16421.5 Oz	1173.0	19.1	0	0	14
Comptoir Lyon-Alemand FRA (COM)	1151 bars	1119754.9 Oz	972.9	41.5	73	0	812
Cominco Ltd Tadanac Canada (CO1)	1091 bars	1145214.9 Oz	1049.7	19.4	6	0	558
Daye Non-Ferrous Metals China (DAY)	612 bars	595520.8 Oz	973.1	26.4	1	0	455
Degussa Frankfurt (DEG)	8346 bars	8804504.0 Oz	1054.9	42.9	1132	0	1856
Dowa Mining Japan (DOW)	1200 bars	1172243.3 Oz	976.9	23.0	0	0	658
ERANDS. Southern Copper Ltd. (ERA)	120 bars	128143.9 Oz	1067.9	17.8	0	0	111
Empresa Minera Peru (EMP)	7949 bars	8291344.0 Oz	1043.1	28.8	1633	6	1272
Engelhard Canada (EN1)	5 bars	4998.4 Oz	999.7	29.8	0	0	5
Engelhard Clal Paris (EN2)	13 bars	13248.1 Oz	1019.1	48.8	0	0	13
Engelhard UK (EN3)	123 bars	123622.5 Oz	1005.1	46.8	0	0	116
Engelhard USA (EN4)	478 bars	477973.0 Oz	999.9	35.3	1	0	391
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)	14150 bars	14097936.0 Oz	996.3	37.9	31	0	1855
Henan Yuguang Gold and Lead Co Ltd (HEN)	17564 bars	17316084.8 Oz	985.9	24.0	118	0	1160
Heraeus Germany (HER)	245 bars	234056.6 Oz	955.3	40.7	0	0	165
Hoboken Belgium (HOB)	8366 bars	7665792.8 Oz	916.3	100.1	743	0	2316
Hunan Zhuzhou China (HUN)	2636 bars	2654927.4 Oz	1007.2	11.4	0	0	504
Inco ltd, Canada (INC)	1112 bars	1158708.7 Oz	1042.0	26.5	15	0	684
Industrial Minera Mexico (IND)	2075 bars	2180995.6 Oz	1051.1	27.6	19	1	881
Inner Mongolia Qiankun Gold & Silver (INN)	14128 bars	13859232.0 Oz	981.0	24.4	3035	9	1415
JBR Recovery UK (JBR)	2206 bars	2395768.4 Oz	1086.0	70.3	0	0	1230
Jiangxi Copper Co Ltd (JIA)	7820 bars	7971325.6 Oz	1019.4	37.9	60	0	1615
John Betts UK (JO1)	396 bars	423189.3 Oz	1068.7	63.1	0	0	343
Johnson Matthey Canada (JO3)	2778 bars	2774424.8 Oz	998.7	34.4	3	0	1192
Johnson Matthey UK (JO4)	2803 bars	2825789.2 Oz	1008.1	34.4	7	0	1144
Johnson Matthey USA (JO5)	8334 bars	8154951.2 Oz	978.5	28.9	7	0	1407
JSC Ekaterinburg Non-Ferrous Metals (JSC)	360 bars	350972.4 Oz	974.9	22.7	0	0	291
KGHM Poland (KGH)	9510 bars	9622060.8 Oz	1011.8	15.6	1598	6	884
Kazzinc. Kazakhstan (KAZ)	1164 bars	1126876.9 Oz	968.1	20.6	0	0	605
Kennecott Copper USA (KEN)	615 bars	628004.9 Oz	1021.1	44.8	0	0	514
Korea Zinc Co Ltd (KOR)	4470 bars	4371227.2 Oz	977.9	22.7	0	0	1024
Krasnoyarsk Russia (KRA)	10463 bars	9903504.0 Oz	946.5	21.5	144	0	1044
Matsuda Sangyo (MAT)	602 bars	579366.8 Oz	962.4	19.1	0	0	405
Met Precieux Switzerland (ME1)	499 bars	485811.8 Oz	973.6	38.9	2	0	423
Met-Mex Penoles Mexico (ME2)	18492 bars	19378692.8 Oz	1048.0	21.0	987	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)	4522 bars	4387272.0 Oz	970.2	21.1	1	0	951
Mitsui Mining Japan (MI3)	1177 bars	1125758.4 Oz	956.5	20.0	0	0	604
Neimenggu Ref China (NEI)	161 bars	166404.7 Oz	1033.6	26.9	0	0	145
Nippon Mining Japan (NIP)	2785 bars	2606156.2 Oz	935.8	13.1	118	1	605
Noranda Canada (NO1)	7813 bars	7915090.4 Oz	1013.1	29.8	251	0	1388
Nordeutsche Germany (NO4)	10950 bars	9535043.2 Oz	870.8	58.5	0	0	2058
Novosibrisk Refinery Russia (NO5)	411 bars	402038.6 Oz	978.2	18.7	0	0	325
OJSC Kolyma (OJS)	4689 bars	4485488.0 Oz	956.6	21.6	0	0	1002
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)	6199 bars	5983050.0 Oz	965.2	22.0	63	0	1039
Rand Refinery (RAN)	842 bars	843233.8 Oz	1001.5	75.5	2	0	694
Real del Monty Pac'a Mexico (REA)	599 bars	629846.3 Oz	1051.5	38.4	0	0	490
Royal Canadian Mint (ROY)	26 bars	24838.5 Oz	955.3	65.8	0	0	26
Russian State Refineries (RUS)	51290 bars	49071772.8 Oz	956.8	21.5	15548	32	1258
Sheffield Smelting Co UK (SH1)	476 bars	474053.0 Oz	995.9	48.9	1	0	421
Shenzhen Zhongjin Co Ltd China (SH2)	3719 bars	3683477.6 Oz	990.4	6.6	25	0	340
Shui Kou Shan Mining China (SH3)	5203 bars	5263562.0 Oz	1011.6	27.6	351	0	1201
Shyolkovsky Russia (SH4)	1186 bars	1133162.5 Oz	955.4	15.7	0	0	530
Solar Applied Materials Corp Taiwan (SOL)	10272 bars	10111226.4 Oz	984.3	17.9	3	0	915
Sumitomo Corp Japan (SUM)	1837 bars	1796243.4 Oz	977.8	16.3	25	0	623
Tanaka Kikinzoku Japan (TAN)	7 bars	7310.7 Oz	1044.4	23.5	0	0	7
Toho Zinc Japan (TOH)	2674 bars	2584773.6 Oz	966.6	21.3	0	0	860
Tongling Nonferrous Metals China (TON)	2256 bars	2163248.0 Oz	958.9	13.7	35	0	585
Trepca Yugoslavia (TRE)	165 bars	157034.3 Oz	951.7	33.4	0	0	157
U.S Assay Office (USA)	252 bars	265141.5 Oz	1052.1	37.6	0	0	217
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)	7448 bars	7605997.6 Oz	1021.2	24.2	3362	3	1190
Zaklady Met Trzebina Poland (ZAK)	1272 bars	1148716.4 Oz	903.1	35.3	1	0	725

Duplicate Serial Numbers & Weights

Refiner	Serial	Fineness	Weight	Location
AS3	146230	9990	997.8	JPMA, JPMA
BRI	1118	9990	999.9	JPMV, JPMA
BRI	1804	9990	1,007.9	BRIA, VIAM
BRI	2247	9990	987.3	BRIA, JPMV
BRI	2278	9990	949.4	BRIA, JPMV
BRI	2318	9990	946.4	BRIA, JPMA
BRI	2943	9990	997.4	JPMV, JPMA
BRI	3491	9990	995.8	BRIA, JPMA
BRI	5351	9990	929.0	JPMV, JPMA
BRI	5394	9990	978.9	JPMA, JPMA
BRI	5668	9990	925.2	JPMV, JPMA
BRI	5764	9990	962.9	JPMA, JPMA
BRI	5785	9990	957.5	JPMV, JPMA
BRI	6996	9990	960.7	JPMA, JPMA
BRI	8021	9990	906.5	JPMV, JPMV
BRI	942	9990	947.0	BRIA, JPMV
BRI	V2029	9990	977.3	JPMA, JPMA
BRI	W10613	9990	956.3	JPMA, JPMA
BRI	W11430	9990	1,034.0	JPMA, JPMA
BRI	W11436	9990	1,001.8	JPMV, JPMA
EMP	449	9999	1,040.7	BRIU, JPMV
EMP	505	9999	1,070.0	BRIU, VIAM
EMP	544	9999	1,050.4	JPMV, JPMA
EMP	647	9999	1,030.8	VIAM, JPMV
EMP	765	9999	1,020.4	VIAM, JPMV
EMP	873	9999	1,027.4	JPMV, JPMA
IND	JM445	9990	1,036.5	JPMV, JPMA
INN	26	9990	977.4	BRIU, BRIU
INN	601080	9990	993.9	BRIU, VIAM
INN	602627	9990	977.4	BRIU, BRIU
INN	602877	9999	992.3	BRIU, BRIU
INN	602917	9999	971.1	BRIU, BRIU
INN	603289	9999	969.1	BRIU, JPMV
INN	603324	9990	963.9	BRIU, JPMV
INN	607230	9990	987.8	BRIA, JPMV
INN	62	9999	1,056.9	BRIU, BRIU
KGH	1758	9999	1,021.7	BRIU, JPMA
KGH	3107	9999	1,011.7	JPMV, JPMA
KGH	3152	9999	1,009.8	JPMV, JPMA
KGH	3188	9999	1,025.7	JPMV, JPMA
KGH	5447	9999	1,022.6	JPMV, JPMA
KGH	8959	9999	1,015.3	BRIU, JPMA
ME2	15336	9990	1,056.2	VIAM, VIAM
ME2	36860	9999	1,053.2	JPMV, JPMA
NIP	9383	9999	940.8	BRIA, JPMA
RUS	1118	9999	947.3	BRIU, BRIA
RUS	1126	9999	952.4	BRIU, BRIA
RUS	1337	9999	939.1	BRIA, BRIA
RUS	13411	9999	959.9	BRIU, JPMA
RUS	1423	9998	956.2	JPMA, JPMA
RUS	1453	9999	947.8	BRIU, JPMA
RUS	16311	9999	948.8	BRIA, BRIA
RUS	1641	9999	937.8	BRIU, JPMA
RUS	1643	9999	965.0	BRIA, JPMA
RUS	1668	9999	954.4	BRIA, JPMA
RUS	1941	9999	952.2	BRIA, JPMA
RUS	19411	9999	947.6	BRIA, JPMA
RUS	20210	9999	951.5	BRIA, BRIA
RUS	2033	9999	946.9	BRIA, JPMA
RUS	2044	9999	976.8	BRIA, JPMA
RUS	2134	9999	962.7	BRIA, JPMA
RUS	21911	9999	957.7	BRIA, JPMA
RUS	2209	9999	974.5	JPMA, JPMA
RUS	22112	9999	968.1	BRIA, JPMV
RUS	22211	9998	970.5	JPMA, JPMA
RUS	2578	9999	931.7	BRIA, JPMV
RUS	2653	9999	943.2	BRIA, JPMA
RUS	28410	9999	950.5	BRIA, JPMV
RUS	2916	9998	953.4	JPMA, JPMA
RUS	2985	9999	956.3	JPMA, JPMA
RUS	3096	9999	944.9	BRIA, JPMV
RUS	39910	9999	948.0	BRIA, JPMA
RUS	5654	9999	952.6	JPMA, JPMA
RUS	71258	9999	977.6	BRIU, BRIU
RUS	B2307	9999	949.4	VIAM, JPMA
RUS	M1343	9999	944.0	JPMV, JPMV
RUS	N2311	9999	950.7	JPMV, JPMA
YUN	2015	9999	1,027.0	BRIU, BRIU
YUN	2569	9999	1,035.9	BRIA, JPMA
YUN	442	9999	997.7	BRIU, JPMV

Bars Removed:

Refiner	Serial	Fineness	Weight	Location

Bars Added (Refinery Summary):

Refiner	# Bars	# Ounces

Bars Added:

Refiner	Serial	Fineness	Weight	Location

Serial Number Changes:

Refiner	Old Serial	New Serial	Fineness	Weight	Location

Stats

# Bars:	335233
# Ounces:	328543539.2
Average Bar Weight:	980.0 ounces
Lightest bar:	516 ounces.
Heaviest bar:	1243 ounces.
Shortest Serial Length:	1
Longest Serial Length:	11
Duplicate Serial & Weight Count:	160 (about 1 in 2095 bars)
Duplicate Serial Only Count:	90836 (about 1 in 3.7 bars)
Duplicate Bars With Exact Weight:	1 in 567 duplicate bars
Total Weights:	5040
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 335233 bars, occasional accounting errors are inevitable.