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SLV Bar Analysis for 29 Oct 2014 (from 22 Oct 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)	176159 bars 171,573,725.5 oz	176159 bars 171,573,725.5 oz	0 bars 0.0 oz	0 bars 0.0 oz	12333	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	5557	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)	94955 bars 91,897,007.0 oz	94955 bars 91,897,007.0 oz	0 bars 0.0 oz	0 bars 0.0 oz	11676	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)	352954 bars 343,415,573.7 oz	352954 bars 343,415,573.7 oz	0 bars 0.0 oz	0 bars 0.0 oz	59134	72

Refinery Summary

Refiner	# Bars	Ounces	Average Oz	Stand. Dev.	Serial Only Duplicates	Serial & Weight Duplicates	# Weights
AMax Inc. USA (AMA)	464 bars	463,080.4 Oz	998.0	29.0	1	0	368
Allgemeine Germany (ALL)	282 bars	284,665.6 Oz	1009.5	1.9	0	0	69
Almalyk Uzbekistan (ALM)	2146 bars	2,079,002.5 Oz	968.8	20.0	159	1	767
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)	1934 bars	1,886,654.7 Oz	975.5	7.9	0	0	350
Asarco Various (AS2)	3 bars	2,964.2 Oz	988.1	22.8	0	0	3
Asarco Inc Amarillo (AS3)	3237 bars	3,220,347.3 Oz	994.9	21.5	3	1	888
Aurubis AG Germany (AUR)	8471 bars	7,377,543.3 Oz	870.9	31.4	0	0	1500
Australian Gold Refineries (AUS)	2170 bars	1,633,107.3 Oz	752.6	29.4	1	0	974
Boliden Mineral Sweden (BOL)	284 bars	292,821.4 Oz	1031.1	32.5	0	0	255
Britannia Refined Metals U.K (BRI)	20738 bars	20,081,455.1 Oz	968.3	56.4	6971	4	2814
Burma Mines (BUR)	8 bars	9,379.2 Oz	1172.4	19.8	0	0	8
Comptoir Lyon-Alemand FRA (COM)	467 bars	451,516.8 Oz	966.8	40.7	9	0	403
Cominco Ltd Tadanac Canada (CO1)	1702 bars	1,791,259.7 Oz	1052.4	18.0	4	0	665
Daye Non-Ferrous Metals China (DAY)	876 bars	849,208.4 Oz	969.4	26.2	1	0	587
Degussa Frankfurt (DEG)	2164 bars	2,288,922.0 Oz	1057.7	41.9	43	0	1146
Doe Run Peru SSL (DOE)	2893 bars	3,025,127.3 Oz	1045.7	24.4	687	0	866
Dowa Mining Japan (DOW)	1780 bars	1,739,352.6 Oz	977.2	20.2	0	0	730
ERANDS. Southern Copper Ltd. (ERA)	120 bars	128,143.9 Oz	1067.9	17.8	0	0	111
Engelhard Clal Paris (EN2)	5 bars	5,200.2 Oz	1040.0	73.9	0	0	5
Engelhard UK (EN3)	79 bars	78,915.6 Oz	998.9	50.8	0	0	78
Engelhard USA (EN4)	208 bars	207,848.7 Oz	999.3	36.0	0	0	192
Espanola Metales Spain (ESP)	368 bars	347,329.6 Oz	943.8	46.5	0	0	324
Great Wall Ref China (GRE)	1411 bars	1,383,137.3 Oz	980.3	17.5	303	0	534
Guangxi Chengyuan Mining China (GUA)	1641 bars	1,586,700.9 Oz	966.9	21.3	0	0	711
Handy Harman USA (HAN)	7859 bars	7,810,040.0 Oz	993.8	37.0	16	0	1673
Henan Yuguang Gold and Lead Co Ltd (HEN)	17436 bars	17,015,228.4 Oz	975.9	25.7	23	0	1421
Heraeus Germany (HER)	95 bars	91,350.3 Oz	961.6	44.7	0	0	67
Hoboken Belgium (HOB)	3036 bars	2,980,210.1 Oz	981.6	33.0	40	0	1193
Hunan Zhuzhou China (HUN)	320 bars	320,619.6 Oz	1001.9	17.3	0	0	266
Inco ltd, Canada (INC)	512 bars	532,909.6 Oz	1040.8	27.1	4	0	406
Industrial Minera Mexico (IND)	638 bars	671,888.6 Oz	1053.1	28.2	1	0	468
Inner Mongolia Qiankun Gold & Silver (INN)	16070 bars	15,770,982.1 Oz	981.4	22.7	4807	8	1375
JBR Recovery UK (JBR)	894 bars	1,010,308.6 Oz	1130.1	77.6	0	0	670
Jiangxi Copper Co Ltd (JIA)	6080 bars	6,205,663.7 Oz	1020.7	31.8	0	0	1382
John Betts UK (JO1)	248 bars	265,790.9 Oz	1071.7	68.5	0	0	223
Johnson Matthey Canada (JO3)	314 bars	317,305.5 Oz	1010.5	32.4	0	0	273
Johnson Matthey UK (JO4)	1693 bars	1,699,925.0 Oz	1004.1	43.2	0	0	1000
Johnson Matthey USA (JO6)	5967 bars	5,947,643.3 Oz	996.8	34.1	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)	539 bars	527,075.2 Oz	977.9	20.9	0	0	395
KCM SA Bulgaria (KCM)	417 bars	410,958.1 Oz	985.5	12.9	46	0	266
KGHM Poland (KGH)	10607 bars	10,723,268.2 Oz	1011.0	15.5	502	0	903
Kazzinc. Kazakhstan (former) (KAZ)	2986 bars	2,902,202.4 Oz	971.9	22.0	0	0	900
Kazakhmys PLC Kazakhstan (KA2)	10626 bars	10,345,314.8 Oz	973.6	19.8	0	0	1058
Kennecott Copper USA (KEN)	225 bars	228,546.7 Oz	1015.8	44.1	0	0	205
Korea Zinc Co Ltd (KOR)	10339 bars	10,077,307.3 Oz	974.7	18.0	0	0	976
Krasnoyarsk Russia (KRA)	17096 bars	16,329,816.4 Oz	955.2	19.4	49	0	1041
LS-Nikko Copper Ltd Korea (LSN)	735 bars	706,090.6 Oz	960.7	25.3	0	0	500
Matsuda Sangyo (MAT)	639 bars	617,549.2 Oz	966.4	19.1	0	0	419
Met Precieux Switzerland (ME1)	18 bars	17,468.7 Oz	970.5	36.8	0	0	18
Met-Mex Penoles Mexico (ME4)	4980 bars	5,196,970.4 Oz	1043.6	21.1	44	0	928
Metalor Ref Corp USA (ME3)	66 bars	63,015.3 Oz	954.8	45.6	0	0	66
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)	5160 bars	5,008,027.4 Oz	970.5	20.2	0	0	968
Neimenggu Ref China (NEI)	220 bars	229,108.2 Oz	1041.4	18.9	33	1	191
Nippon Mining Japan (NIP)	4831 bars	4,494,572.5 Oz	930.4	16.7	51	0	808
Noranda Canada (NO1)	4166 bars	4,221,970.9 Oz	1013.4	28.5	29	0	1187
Noranda Canada (NO2)	135 bars	135,801.1 Oz	1005.9	25.8	0	0	125
Nordeutsche Germany (NO4)	17451 bars	15,017,350.4 Oz	860.5	35.1	0	0	1844
Novosibrisk Refinery Russia (NO5)	303 bars	295,703.0 Oz	975.9	20.2	0	0	248
OJSC Kolyma (OJS)	8061 bars	7,708,406.7 Oz	956.3	20.8	0	0	1067
Pamp Sa Switzerland (PAM)	1126 bars	1,130,611.1 Oz	1004.1	26.7	0	0	681
Port Pirie(Zinifex,Pasminco,Broken Hill (POR)	153 bars	144,385.7 Oz	943.7	33.5	0	0	144
Prioksky Russia (PRI)	5679 bars	5,481,454.1 Oz	965.2	22.3	61	0	1037
Rand Refinery Ltd (RAN)	5 bars	5,737.1 Oz	1147.4	37.2	0	0	5
Real del Monty Pac'a Mexico (REA)	282 bars	297,093.6 Oz	1053.5	33.6	0	0	244
Royal Canadian Mint (ROY)	22 bars	21,159.1 Oz	961.8	69.6	0	0	22
Russian State Refineries (RUS)	40003 bars	38,329,439.3 Oz	958.2	22.2	6026	9	1256
Sheffield Smelting Co UK (SH1)	355 bars	352,112.4 Oz	991.9	50.6	1	0	330
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)	5657 bars	5,716,133.3 Oz	1010.5	28.8	403	0	1276
Shyolkovsky Russia (SH4)	661 bars	627,922.1 Oz	950.0	16.8	0	0	419
Shandong Zhaojin Refinery Ltd (SH5)	108 bars	102,203.3 Oz	946.3	22.4	0	0	101
Solar Applied Materials Corp Taiwan (SOL)	37117 bars	36,942,644.8 Oz	995.3	22.6	2283	2	1306
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)	3169 bars	3,048,133.5 Oz	961.9	20.8	10	0	880
Tongling Nonferrous Metals China (TON)	6639 bars	6,469,864.0 Oz	974.5	22.6	1106	2	1040
Trepca Yugoslavia (TRE)	43 bars	40,595.1 Oz	944.1	33.7	0	0	42
U.S Assay Office (USA)	106 bars	111,250.3 Oz	1049.5	39.9	0	0	101
Uralelectromed Russia. YA (URA)	1421 bars	1,363,777.0 Oz	959.7	20.1	26	0	649
Valcambi Switzerland (VAL)	2611 bars	2,556,646.6 Oz	979.2	24.8	0	0	934
W Canning UK (WCA)	64 bars	69,652.7 Oz	1088.3	55.5	0	0	64
Yunnan Copper Ind' Ltd China (YUN)	12311 bars	12,583,841.4 Oz	1022.2	24.9	5802	8	1314
Zaklady Met Trzebina Poland (ZAK)	298 bars	275,705.5 Oz	925.2	26.5	1	0	260

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
INN	601598	9990	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
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	71258	9999	977.6	BRIU, BRIU
RUS	M1343	9999	944.0	JPMV, JPMV
SOL	10020506	9990	1,011.6	BRIU, BRIU
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	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:	352954
# Ounces:	343415573.7
Average Bar Weight:	973.0 ounces
Lightest bar:	580 ounces.
Heaviest bar:	1243 ounces.
Shortest Serial Length:	1
Longest Serial Length:	11
Duplicate Serial & Weight Count:	72 (about 1 in 4902 bars)
Duplicate Serial Only Count:	59134 (about 1 in 6.0 bars)
Duplicate Bars With Exact Weight:	1 in 821 duplicate bars
Total Weights:	4765
Number of Refiners:	88

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 352954 bars, occasional accounting errors are inevitable.