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Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

The categorization of the Trust’s assets is as shown below:

The categorization of the Trust’s assets is as shown below:

(Amounts in 000's of US$)		December 31, 2020				December 31, 2019
Level 1
Investment in silver		$	863,884			$	418,938

Changes in ounces of silver and their respective values for the years ended December 31, 2020 and 2019 are set out below:

Changes in ounces of silver and their respective values for the years ended December 31, 2020 and 2019 are set out below:

		Year Ended December 31, 2020				Year Ended December 31, 2019
(Amounts in 000's of US$, except for ounces data)
Ounces of silver
Opening balance			23,216,266.6				21,973,640.6
Creations			11,129,847.0				2,183,968.2
Redemptions			(1,645,663.9	)			(874,529.4	)
Transfers of silver to pay expenses			(82,587.7	)			(66,812.8	)
Closing balance			32,617,862.0				23,216,266.6
Investment in silver
Opening balance		$	418,938			$	339,822
Creations			218,306				36,430
Redemptions			(34,601	)			(13,838	)
Realized gain on silver distributed for the redemption of Shares			4,746				(2,249	)
Transfers of silver to pay expenses			(1,674	)			(1,068	)
Realized gain on silver transferred to pay expenses			174				(150	)
Change in unrealized gain on investment in silver			258,079				59,907
Change in unrealized gain on unsettled creations or redemptions			(84	)			84
Closing balance		$	863,884			$	418,938

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Tabular disclosure of movement in the investment in bullion in the Trust.

+ References

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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