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Statements of Financial Condition (USD $)
Dec. 31, 2011
Dec. 31, 2010
ASSETS    
Investment in silver (1) $ 524,562,808 [1] $ 329,357,195 [1]
Silver receivable 0 6,099,633
Total assets 524,562,808 335,456,828
LIABILITIES    
Accounts payable to Sponsor, net of waiver 140,160 124,332
Silver payable 8,392,292 0
Total liabilities 8,532,452 124,332
REDEEMABLE SHARES    
Shares at redemption value to investors (2) 534,304,845 [2] 509,311,012 [2]
Shareholders’ deficit (18,274,489) (173,978,516)
Total liabilities, redeemable Shares & shareholders’ deficit $ 524,562,808 $ 335,456,828
[1] The market value of investment in silver at December 31, 2011 was $542,837,297 and at December 31, 2010 was $503,335,711.
[2] Authorized share capital is unlimited and no par value per Share. Shares issued and outstanding at December 31, 2011 were 19,100,000 and at December 31, 2010 were 16,700,000.