JPMorgan and its affiliates* own and/or control** between approximately 432 million- 582 million ounces of silver.
Estimated value of physical silver and silver mining shares owned and/or controlled by JPMorgan is between approximately $9-$11 billion.
How Much Silver Does JPMorgan Chase Have?
JPM and/or its investment affiliates own or control silver in the following forms:
- silver mining shares;
- silver ETFs including SLV;
- a COMEX approved vault;
- possibly silver coins
and
.
JPMorgan Silver Mining Shares Held on Behalf of Clients
As of June 30, 2016, according to a Form 13-F filing by JPMorgan Chase & Co (JPM) with the United States Securities and Exchange Commission, it or its investment affiliates owned and/or controlled interests in approximately one dozen silver mining companies.
Value of Holdings: $122,174,155
Franco Nevada is the largest silver mining share holding of JPMorgan and/or its investment affiliates.
JPM also noted in its filing, holdings in three silver ETFs:
ishares Silver Trust (SLV) 282,219 shares
Sprott Physical Silver Trust (PSLV) 12,940 shares
ETF Securities Physical Silver (SIVR) 6,540 shares
iShares Silver Trust (SLV)
JPMorgan ChaseBank N.A., London branch is the custodian of the SLV Trust.
Ounces of Silver in Trust as of 26-Aug-2016: 356,894,478.60
Value of Holdings: $6,656,082,033
Shares outstanding: 375,650,000
SLV is the largest silver ETF in the world with over 350 million ounces.
Compare American Silver Eagles for sale at:
Golden Eagle Coins
SD Bullion
Money Metals Exchange
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COMEX Vault Silver Holdings
JP Morgan Chase Bank NA became a COMEX approved depository in 2011.
Ounces of silver in COMEX Vault as of August 25, 2016: 75,897,385
Value: $1,414,486,230
The COMEX approved JP Morgan Chase Bank NA vault held nearly 76 million ouunce of silver as of August 26, 2016.
Updated June 22 2018
Silver Eagles and Silver Canadian Maple Leaf Coins
Famed silver expert Ted Butler wrote in 2014’s “The Perfect Crime” that he believed JPM bought 70 million Silver Eagles.
In email correspondence to me, Mr. Butler writes: “Today, I would up that to over 100 million oz and add 50 million Canadian Maple Leafs as well”
Global silver mining production in 2015 was estimated to be 886 million ounces.
JPMorgan Chase Affiliated Investment Entities
*J.P. Morgan Trust Co of Delaware, JPMorgan Chase Bank, N.A., J.P. Morgan Investment Management Inc., J.P. Morgan Securities LLC, J.P. Morgan Securities plc, J.P. Morgan Whitefriars Inc., JPMorgan Asset Management (UK) Ltd, JPMorgan Asset Management (Canada) Inc., J.P. Morgan Private Investments Inc., Isolieren Holding Corp, J.P. Morgan (Suisse) SA, J.P. Morgan GT Corp, JF Asset Management Ltd, JPMorgan Asset Management (Japan) Ltd, JPMorgan Asset Management (Singapore) Ltd, JPMorgan Asset Management (Taiwan) Ltd, JPMorgan Funds (Asia) Ltd, MLP Investment Holdings, Inc., J.P. Morgan International Bank Ltd
Share holdings are as at June 30, 2016, and valuations as at August 5, 2016. JPM current holdings of silver mining shares may not include any of the shares included in the table above or any silver mining shares at all.
**JPM and or its affiliates may not hold any direct beneficial ownership in any of the mining shares or any of the ETFs listed above. Further, JPM and or its affiliates may not have any direct ownership interest in any of the silver held at the JP Morgan Chase Bank NA depository. Finally, JPM and or its affiliates may not have any direct ownership interest in any American Silver Eagles or any Canadian Silver Maple Leaf coins.
Note: the share amounts filed with the Securities and Exchange Commission on Form 13-F by JPM are subject to the following caveat by the SEC: “The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. The reader should not assume that the information is accurate and complete.”
JPM share data from sec.gov, share prices from Yahoo Finance.
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Further Reading
THE SWISS NATIONAL BANK’S $1 BILLION GOLD AND SILVER MINING SHARE PORTFOLIO
HOW THE SWISS NATIONAL BANK BUILT A $1 BILLION MINING SHARE PORTFOLIO
NORWAY’S CENTRAL BANK FILES FOR CONFIDENTIAL TREATMENT OF ITS US EQUITY HOLDINGS
DEUTSCHE BANK DISCLOSES $2 BILLION GOLD AND SILVER MINING SHARE PORTFOLIO
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