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Income Statements (Unaudited) (USD $) In Thousands, except Share data, unless otherwise specified | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013
Revenue |  |  |  |  |  |  |  |
Proceeds from sales of silver bullion inventory to pay expenses |  |  | $ 8,642 |  |  |  | $ 32,245 |
Cost of silver bullion inventory sold to pay expenses |  |  | (10,397) |  |  |  | (32,389) |
Loss on sales of silver bullion inventory to pay expenses | 256 |  | (1,755) |  | 364 |  | (144) |
Loss on silver bullion distributed for the redemption of Shares |  |  | (15,209) |  |  |  | (13,590) |
Total loss on sales and distributions of silver bullion |  |  | (16,964) |  |  |  | (13,734) |
Adjustment to silver bullion inventory(a)(b) |  | [1],[2] | 950,686 | [1],[2],[3] |  | [1],[2],[4] | (1,170,758) | [1],[2],[4],[5]
Total gain (loss) on silver bullion |  |  | 933,722 |  |  |  | (1,184,492) |
Expenses |  |  |  |  |  |  |  |
Sponsor’s fees | 8,199 |  | 8,992 |  | 24,443 |  | 31,087 |
Total expenses(b) | 8,199 | [2] | 8,992 | [2] | 24,443 | [2] | 31,087 | [2]
Net investment loss(c) | (8,199) | [6] |  |  | (24,443) | [6] |  |
Net Realized and Unrealized Gain (Loss) |  |  |  |  |  |  |  |
Net realized gain from investment in silver bullion sold to pay expenses | 256 |  | (1,755) |  | 364 |  | (144) |
Net realized gain from silver bullion distributed for the redemption of Shares | 1,649 |  |  |  | 16,953 |  | (13,590) |
Net change in unrealized appreciation/depreciation on investment in silver bullion | (1,261,329) |  |  |  | (833,667) |  |  |
Net realized and unrealized loss | (1,259,424) |  |  |  | (816,350) |  |  |
NET INCOME (LOSS) | $ (1,267,623) |  | $ 924,730 |  | $ (840,793) |  | $ (1,215,579) |
Net income (loss) per Share (in Dollars per share) | $ (3.69) |  | $ 2.66 |  | $ (2.46) |  | $ (3.51) |
Weighted-average Shares outstanding (in Shares) | 343,780,435 |  | 347,510,870 |  | 341,477,289 |  | 345,899,634 |
[1] | In connection with the lower of cost or market valuation standard for inventory, at September 30, 2013 a market value recovery was recorded to partially offset the previously recorded market value reserve. Please refer to Note 2C for accounting policy.
[2] | In connection with the annual reporting close for the year ended December 31, 2013, management determined the manner in which it had previously reported the market value reserve on the Trust's silver bullion inventory within previously issued interim financial statements was incorrect. The recognition of a market value reserve to the Trust's inventory at September 30, 2013, which represents the adjustment necessary to reflect the carrying value of silver bullion inventory to the lower of cost or market value, was incorrectly reported as an expense of the Trust in the previously issued interim financial statements. Management determined that, according to U.S. GAAP, adjustments to the carrying value of the Trust's silver bullion inventory should be reflected against the revenues such inventory generates. For the nine months ended September 30, 2013, total loss on silver was overstated by $2,121,444,013 and total expenses were overstated by the same amount in the previously issued interim financial statements. Management evaluated the impact of this correction to the previously issued financial statements and determined that the historical presentation of the inventory reserves did not materially misstate the previously issued interim financial statements; however, because of the amount involved with this adjustment, the presentation has been corrected, and the previously filed financial statements for the nine months ended September 30, 2013 have been revised accordingly.
[3] | Previously reported as "market value recovery."
[4] | Net value of amounts previously reported as "market value reserve" and "market value recovery." Please refer to Note 2C for accounting policy.
[5] | Net value of amounts previously reported as "market value reserve" and "market value recovery."
[6] | Effective January 1, 2014, the Trust qualifies as an investment company for accounting purposes. Net investment loss is applicable to investment companies. Please refer to Note 2B.

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