Stock Research for Bilito

[Mr. Bill]

Silver above ground 4.5 TIMES the GOLD above GROUND

Note: Silver used extensively in SOLAR which is heating up (as well as elsewhere)

http://www.tfmetalsreport.com/forum/4591/silver-above-ground

Conclusion:
1.Silver is NOT scarcer than gold. If we use the consensus Gold-above-ground number of 166000 Tonnes and our number of 748000 Tonnes, then the ratio is 4.5 silver ounces above ground for every gold ounce above ground. For those that disagree with including silver jewelry and silverware in the silver total, please be reminded gold jewelry IS in the gold total.

2. There is no significant amount of silver in government or banker hands.

3. The more we looked for silver in coins, the more we found.


Typos in Silver Above Ground


Zurbuchen’s Overview was misquoted, should have been:

Total Silver Mined 3000BC-2005AD (22)
45 Billion ounces or 1384000 Tonnes
Irretrievably lost 3000BC-2005AD:
24 Billion ounces or 789000 Tonnes
Silver above ground end of 2005AD:
21 Billion ounces or 748000 Tonnes

I'll fix the original post when editing is enabled.


Silver Above Ground at end of 2012 Overview:
Total Silver Mined 3000BC-2012AD:
49 Billion ounces or 1537000 Tonnes
Irretrievably lost 3000BC-2012AD:
25 Billion ounces or 789000 Tonnes
Silver above ground end of 2012AD:
24 Billion ounces or 748000 Tonnes
Nick Elway, Hagarth, and Byzantium helped create this report

Silver above ground is:
Industrial recoverable at high enough price.
3 Billion ounces or 93000 Tonnes
Note 1
Silver in coins.
2.5 Billion Ounces or 79000 Tonnes
Note 2
Silver in bars and rounds
1.4 Billion Ounces or 43500 Tonnes
Note 3
Silver in jewelry and silverware
17.1 Billion Ounces or 532500 Tonnes
Note 4

The best work we could find on Silver Above Ground (through 2005) was David Zurbuchen’s 2006 article (22) Zurbuchen’s Overview was

Total Silver Mined 3000BC-2005AD:
49 Billion ounces or 1537000 Tonnes
Irretrievably lost 3000BC-2005AD:
25 Billion ounces or 789000 Tonnes
Silver above ground end of 2005AD:
24 Billion ounces or 748000 Tonnes

Silver above ground 2005 is:
2005 Industrial recoverable at high enough price.
4 Billion ounces or 124000 Tonnes
Note 1
 2005 Silver in coins and medallions
1.2 Billion Ounces or 81000 Tonnes
Note 2
2005 Silver in bars and rounds
1.4 Billion Ounces or 43500 Tonnes
Note 3
2005 Silver in jewelry and silverware
17 Billion Ounces or 499500 Tonnes
Note 4

Conclusion:
1.Silver is NOT scarcer than gold. If we use the consensus Gold-above-ground number of 166000 Tonnes and our number of 748000 Tonnes, then the ratio is 4.5 silver ounces above ground for every gold ounce above ground. For those that disagree with including silver jewelry and silverware in the silver total, please be reminded gold jewelry IS in the gold total.

2. There is no significant amount of silver in government or banker hands.

3. The more we looked for silver in coins, the more we found.

Note 1) Industrial recoverable at high enough price
Zurbuchen’s estimate in 2005 was 4 billion ounces
This report’s estimate of 3 billion ounces is a guess that higher prices since 2005 made recycling more profitable and reduced the industrial recoverable by 1 billion ounces.

Note 2) This report counts 2.5 billion ounces in coins based on the belief that coins since 1990 have not been melted and that circulated coins from before 1964
In general suffered a 50 per cent melt. The guess of melt is based on asking around at the coin club, where the most common guess was 35 per cent so 50 per cent was chosen to be conservative.
These coins are counted here:
Canadian Circulating 1940-1967(14)
3208 Tonnes minted assume 50% melted 1604 Tonnes
Canadian Silver Maple, Olympic, Wildlife 1988-2012 2788 Tonnes
Indian Rupees(17) 1912-1945
Minted Rupee - 24,400 Tonnes
1/2 Rupee - 1,909 Tonnes
1/4 Rupee - 1,849 Tonnes
Total 28,158 assume 50% melted 14076 Tonnes
US 90 percent non-dollar Coins
Morgan 1878-1921 657 million minted
-270 million melted Pittman act 1918
= 387 unmelted
Peace + 190 million = 577 million @24.057 gms
= 13880 Tonnes assume 50% melted 6940 Tonnes

Dimes, Quarters, Halves 1916-1964, + state proofs
Minted 2628 Million face @22.5 silver grams/dollar
59000 Tonnes minted assume 50% melted 29500 Tonnes
US 40 percent Coins
Kennedy Halves 65-70 and Eisenhower dollars 71-74
Minted 819 Million face @avg 9.5 grams per dollar
7500 Tonnes minted assume 50 percent melted 3750 Tonnes
US Silver Eagles and ATB 1986-Feb 2013 10844 Tonnes
Mexican Libertads 897 Tonnes
Mexican Olympic 25 Peso 436 Tonnes
Mexican Circulating coins 1918-1987
10684 Tonnes minted assume 50 percent melted 5342 Tonnes
Philharmonics 2008-2011 +2012 est 1519 Tonnes
Britannia 1997-2012 42 Tonnes
Perth Silver coins 1990-2012 1164 Tonnes
TOTAL IDENTIFIED SILVER COIN ABOVE GROUND SO FAR 78900 Tonnes
THIS DOES NOT INCLUDE ANY ONCE-CIRCULATING SILVER COINS FROM
EUROPE, ASIA ex-India, AFRICA, PHILIPPINES, AUSTRALIA,
CENTRAL AMERICA, or SOUTH AMERICA

Note 3) Silver in Bar and bullion form was not really countable. The number in this report is left at Zurbuchen’s 43500 Tonnes
This may be broken out at the end of 2012 as
Silver ETP holding(2) 19000 Tonnes
Comex holding(10) 5000 Tonnes
LBMA Holdings 2300 Tonnes
Shanghai holding(10) 34 Tonnes
Perth Mint allocated good-delivery storage(8) 194 Tonnes
US Mint storage 19(3) or 220(7) or 489(24) Tonnes
Identified Total approx 26600 Tonnes
Unidentified bullion 43500 – 26600 = 16900 Tonnes

Note 4) Silver in Jewelry and silverware is “everything else”, including industrial stocks and any other meltable silver we couldn’t locate.
The USGS Silver statistics table (23) Last updated November 30, 2010 shows industrial stock of 3550 Tonnes at the end of 2009

(1) http://www.cmegroup.com/education/files/cpm-silver-market-lacks-legs-2013-01-28.pdf
(2) http://www.goldcore.com/goldcore_blog/silver-investment-demand-surges-30-silver-etf-holdings-robust
(3) http://www.usmint.gov/downloads/about/annual_report/2012AnnualReport.pdf
(4) http://www.coincommunity.com/us_coin_facts/ and
"2012 North American Coins & Prices" 21st edition Krause Publications
(5) http://www.usmint.gov/mint_programs/atb/?action=mintageTotals
(6) http://www.usmint.gov/mint_programs/american_eagles/?action=sales&year=2012
(7) http://minerals.usgs.gov/minerals/pubs/commodity/silver/mcs-2013-silve.pdf
(8) http://www.perthmint.com.au/pool_allocated_bar_listing.aspx
(9) http://www.perthmint.com.au/investment-bullion-bars-and-coins-mintages.aspx
(10) http://www.investmenttools.com/futures/metals/Base_Metals_Inventory_London_and_Shanghai.htm#comex_silver
(11) http://www.free-bullion-investment-guide.com/austrian_philharmonic_silver.html and http://www.muenzeoesterreich.at/eng/download/annual-reports
(12) http://silverbullionworld.com/britanniamintage.html and
https://www.kitcomm.com/showthread.php?t=108363
(13) http://en.wikipedia.org/wiki/Canadian_Silver_Maple_Leaf
(14) "Charlton Standard Catalogue: Canadian Coins" 67th edition 2013.
(15) http://silveragecoins.com/en/details.php?item=2086
(16) http://typesets.wikidot.com/coin-library-mexico
(17) "Collecting World Coins" 13th edition. Circulating Issues 1901-Present by Krause Publications.
(18) http://www.gold-eagle.com/editorials_05/zurbuchen011506.html
(19) http://minerals.usgs.gov/ds/2005/140/ds140-silve.pdf
(20) http://pubs.usgs.gov/of/2004/1251/2004-1251.pdf
(21) http://demonocracy.info/infographics/world/silver/silver.html
(22) http://www.gold-eagle.com/editorials_05/zurbuchen052006.html
(23) http://minerals.usgs.gov/ds/2005/140/silver.pdf
(24) http://minerals.usgs.gov/minerals/pubs/commodity/silver/myb1-2011-silve.xls

Edited by admin on 11/08/2014 - 06:08