The Comex (NASDAQ:CME) has been experiencing a dwindling supply of silver due to reclassifying of holdings from Registered (physical) to Eligible (non-deliverable). For example, last week Scotia Mocatta reclassified more than 1.4 million ounces of silver from Registered to Eligible. Now, the silver drain at the Comex continues with HSBC (NYSE:HBC) reclassifying 438k ounces of silver from Registered to Eligible status. The total physical supply (Registered) of silver at the Comex is about 28.7 million ounces. This is a 30% decrease when compared to the silver holdings during April. To add insult to injury, the U.S. Mint has reported all-time record Silver Eagle coin sales through May this year.