iShares Silver Trust (SLV) 10-K 16 Feb 24 2023 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2023	Jan. 31, 2024	Jun. 30, 2023
Document Information [Line Items]
Entity Central Index Key	0001330568
Entity Registrant Name	iShares Silver Trust
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	001-32863
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	13-7474456
Entity Address, Address Line One	400 Howard Street
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94105
City Area Code	415
Local Phone Number	670-2000
Title of 12(b) Security	Shares
Trading Symbol	SLV
Security Exchange Name	NYSEArca
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 10,513,107,000
Entity Common Stock, Shares Outstanding		479,450,000
Auditor Firm ID	238
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Philadelphia, Pennsylvania

Statements of Assets and Liabil

Statements of Assets and Liabilities - USD ($)		Dec. 31, 2023	Dec. 31, 2022
Assets
Investment in silver bullion, at fair value	[1]	$ 10,393,666,180	$ 11,164,718,926
Total Assets		10,393,666,180	11,164,718,926
Liabilities
Sponsor’s fees payable		4,488,405	4,633,955
Total Liabilities		4,488,405	4,633,955
Commitments and contingent liabilities (Note 6)
Net Assets		$ 10,389,177,775	$ 11,160,084,971
Shares issued and outstanding (in shares)	[2]	477,000,000	506,550,000
Net asset value per Share (Note 2C) (in dollars per share)		$ 21.78	$ 22.03
[1]Cost of investment in silver bullion: $9,616,427,847 and $10,025,562,224, respectively.[2]No par value, unlimited amount authorized.

Statements of Assets and Liab_2

Statements of Assets and Liabilities (Parentheticals) - USD ($) $ / shares in Thousands	Dec. 31, 2023	Dec. 31, 2022
Investment in silver bullion, cost	$ 9,616,427,847	$ 10,025,562,224
Shares, par value (in dollars per share)	$ 0	$ 0
Shares issued (in shares)	477,000,000	506,550,000

Statements of Operations

Statements of Operations - USD ($)		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Expenses
Sponsor's fees		$ 53,561,823	$ 56,435,296	$ 71,208,965
Total expenses		53,561,823	56,435,296	71,208,965
Net investment loss		(53,561,823)	(56,435,296)	(71,208,965)
Net Realized and Unrealized Gain (Loss)
Silver bullion sold to pay expenses		3,873,057	(38,589)	13,262,117
Silver bullion distributed for the redemption of Shares		282,624,263	(176,990,635)	1,349,023,048
Net realized gain (loss)		286,497,320	(177,029,224)	1,362,285,165
Net change in unrealized appreciation/depreciation		(361,918,369)	215,447,290	(3,401,406,431)
Net realized and unrealized gain (loss)		(75,421,049)	38,418,066	(2,039,121,266)
Net decrease in net assets resulting from operations		$ (128,982,872)	$ (18,017,230)	$ (2,110,330,231)
Net decrease in net assets per Share(a) (in dollars per share)	[1]	$ (0.26)	$ (0.03)	$ (3.46)
[1]Net increase (decrease) in net assets per Share based on average shares outstanding during the year.

Statements of Changes in Net As

Statements of Changes in Net Assets - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net Assets, Beginning of Year	$ 11,160,084,971	$ 12,249,234,223	$ 14,791,792,720
Operations:
Net investment loss	(53,561,823)	(56,435,296)	(71,208,965)
Net realized gain (loss)	286,497,320	(177,029,224)	1,362,285,165
Net change in unrealized appreciation/depreciation	(361,918,369)	215,447,290	(3,401,406,431)
Net decrease in net assets resulting from operations	(128,982,872)	(18,017,230)	(2,110,330,231)
Capital Share Transactions:
Contributions for Shares issued	3,580,116,083	3,608,993,778	6,742,609,430
Distributions for Shares redeemed	(4,222,040,407)	(4,680,125,800)	(7,174,837,696)
Net decrease in net assets from capital share transactions	(641,924,324)	(1,071,132,022)	(432,228,266)
Decrease in net assets	(770,907,196)	(1,089,149,252)	(2,542,558,497)
Net Assets, End of Year	$ 10,389,177,775	$ 11,160,084,971	$ 12,249,234,223
Shares issued and redeemed
Shares issued (in shares)	167,250,000	175,900,000	275,950,000
Shares redeemed (in shares)	(196,800,000)	(243,150,000)	(303,100,000)
Net decrease in Shares issued and outstanding (in shares)	(29,550,000)	(67,250,000)	(27,150,000)

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash Flows from Operating Activities
Proceeds from silver bullion sold to pay expenses	$ 53,707,373	$ 56,964,663	$ 71,843,069
Expenses – Sponsor’s fees paid	(53,707,373)	(56,964,663)	(71,843,069)
Net cash provided by (used in) operating activities	0	0	0
Increase (decrease) in cash	0	0	0
Cash, beginning of year	0	0	0
Cash, end of year	0	0	0
Reconciliation of Net Increase (Decrease) in Net Assets Resulting from Operations to Net Cash Provided by (Used in) Operating Activities
Net decrease in net assets resulting from operations	(128,982,872)	(18,017,230)	(2,110,330,231)
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by (used in) operating activities:
Proceeds from silver bullion sold to pay expenses	53,707,373	56,964,663	71,843,069
Net realized (gain) loss	(286,497,320)	177,029,224	(1,362,285,165)
Net change in unrealized appreciation/depreciation	361,918,369	(215,447,290)	3,401,406,431
Change in operating assets and liabilities:
Sponsor’s fees payable	(145,550)	(529,367)	(634,104)
Net cash provided by (used in) operating activities	0	0	0
Supplemental disclosure of non-cash information:
Silver bullion contributed for Shares issued	3,580,116,083	3,608,993,778	6,742,609,430
Silver bullion distributed for Shares redeemed	$ (4,222,040,407)	$ (4,680,125,800)	$ (7,174,837,696)

Insider Trading Arrangements

Insider Trading Arrangements	12 Months Ended
	Dec. 31, 2023
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	9B. Not
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Schedules of Investments

Schedules of Investments	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Schedule of Investments [Text Block]	iShares ® Schedules of Investments At December 31, 2023 2022 December 31, 2023 Description Ounces Cost Fair Value Silver bullion 436,892,231 $ 9,616,427,847 $ 10,393,666,180 Total Investments – 100.04 10,393,666,180 Less Liabilities – (0.04) (4,488,405 ) Net Assets – 100.00 $ 10,389,177,775 December 31, 2022 Description Ounces Cost Fair Value Silver bullion 466,265,146 $ 10,025,562,224 $ 11,164,718,926 Total Investments – 100.04 11,164,718,926 Less Liabilities – (0.04) (4,633,955 ) Net Assets – 100.00 $ 11,160,084,971 See notes to financial statements.

Note 1 - Organization

Note 1 - Organization	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	1 The iShares Silver Trust (the “Trust”) was organized on April 21, 2006 January 31, 2022. The Trust seeks to reflect generally the performance of the price of silver. The Trust seeks to reflect such performance before payment of the Trust’s expenses and liabilities. The Trust is designed to provide a vehicle for investors to make an investment similar to an investment in silver. The Trust qualifies as an investment company solely for accounting purposes and not 946, Financial Services - Investment Companies, not not 1940,

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2 A. Basis of Accounting The following significant accounting policies are consistently followed by the Trust in the preparation of its financial statements in conformity with generally accepted accounting principles in the United States of America (“U.S. GAAP”). The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Certain statements and captions in the financial statements for the prior periods have been changed to conform to the current financial statement presentation. B. Silver Bullion JPMorgan Chase Bank N.A., London branch (the “Custodian”), is responsible for the safekeeping of silver bullion owned by the Trust. Fair value of the silver bullion held by the Trust is based on the price per ounce of silver determined in an electronic auction consisting of one 30‑second 12:00 no Gain or loss on sales of silver bullion is calculated on a trade date basis using the average cost method. The following tables summarize activity in silver bullion for the years ended December 31, 2023, 2022 2021: Year Ended December 31, 2023 Ounces Cost Fair Realized Beginning balance 466,265,146 $ 10,025,562,224 $ 11,164,718,926 $ — Silver bullion contributed 153,556,215 3,580,116,083 3,580,116,083 — Silver bullion distributed (180,643,461 ) (3,939,416,144 ) (4,222,040,407 ) 282,624,263 Silver bullion sold to pay expenses (2,285,669 ) (49,834,316 ) (53,707,373 ) 3,873,057 Net realized gain — — 286,497,320 — Net change in unrealized appreciation/depreciation — — (361,918,369 ) — Ending balance 436,892,231 $ 9,616,427,847 $ 10,393,666,180 $ 286,497,320 Year Ended December 31, 2022 Ounces Cost Fair Realized Beginning balance 530,838,100 $ 11,330,688,133 $ 12,254,397,545 $ — Silver bullion contributed 162,289,256 3,608,993,778 3,608,993,778 — Silver bullion distributed (224,224,243 ) (4,857,116,435 ) (4,680,125,800 ) (176,990,635 ) Silver bullion sold to pay expenses (2,637,967 ) (57,003,252 ) (56,964,663 ) (38,589 ) Net realized loss — — (177,029,224 ) — Net change in unrealized appreciation/depreciation — — 215,447,290 — Ending balance 466,265,146 $ 10,025,562,224 $ 11,164,718,926 $ (177,029,224 ) Year Ended December 31, 2021 Ounces Cost Fair Realized Beginning balance 558,715,882 $ 10,472,474,303 $ 14,797,590,146 $ — Silver bullion contributed 256,106,607 6,742,609,430 6,742,609,430 — Silver bullion distributed (281,173,891 ) (5,825,814,648 ) (7,174,837,696 ) 1,349,023,048 Silver bullion sold to pay expenses (2,810,498 ) (58,580,952 ) (71,843,069 ) 13,262,117 Net realized gain — — 1,362,285,165 — Net change in unrealized appreciation/depreciation — — (3,401,406,431 ) — Ending balance 530,838,100 $ 11,330,688,133 $ 12,254,397,545 $ 1,362,285,165 C. Calculation of Net Asset Value On each business day, as soon as practicable after 4:00 D. Offering of the Shares Trust Shares are issued and redeemed continuously in aggregations of 50,000 Shares in exchange for silver bullion rather than cash. Individual investors cannot purchase or redeem Shares in direct transactions with the Trust. The Trust only transacts with registered broker-dealers that are eligible to settle securities transactions through the book-entry facilities of the Depository Trust Company and that have entered into a contractual arrangement with the Trustee and the Sponsor governing, among other matters, the creation and redemption of Shares (such broker-dealers, the “Authorized Participants”). Holders of Shares of the Trust may provided may not The per Share amount of silver exchanged for a purchase or redemption represents the per Share amount of silver held by the Trust, after giving effect to its liabilities. When silver bullion is exchanged in settlement of a redemption, it is considered a sale of silver bullion for accounting purposes. Share activities for the years ended December 31, 2023, 2022 2021 December 31, 2023 2022 2021 Shares Amount Shares Amount Shares Amount Shares issued 167,250,000 $ 3,580,116,083 175,900,000 $ 3,608,993,778 275,950,000 $ 6,742,609,430 Shares redeemed (196,800,000 ) (4,222,040,407 ) (243,150,000 ) (4,680,125,800 ) (303,100,000 ) (7,174,837,696 ) Net decrease (29,550,000 ) $ (641,924,324 ) (67,250,000 ) $ (1,071,132,022 ) (27,150,000 ) $ (432,228,266 ) E. Federal Income Taxes The Trust is treated as a grantor trust for federal income tax purposes and, therefore, no The Sponsor has analyzed applicable tax laws and regulations and their application to the Trust as of December 31, 2023 not

Note 3 - Trust Expenses

Note 3 - Trust Expenses	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Trust Expenses [Text Block]	3 The Sponsor’s fee is accrued daily at an annualized rate equal to 0.50% of the net asset value of the Trust, paid monthly in arrears. The Sponsor has agreed to assume the following administrative and marketing expenses incurred by the Trust: the Trustee’s fee and reimbursement for its reasonable out‑of‑pocket expenses, the Custodian’s fee, NYSE Arca listing fees, SEC registration fees, printing and mailing costs, audit fees and expenses, and, effective January 31, 2022, may not

Note 4 - Related Parties

Note 4 - Related Parties	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	4 The Sponsor and the Trustee are considered to be related parties to the Trust. The Trustee’s fee is paid by the Sponsor and is not

Note 5 - Indemnification

Note 5 - Indemnification	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Indemnification [Text Block]	5 The Trust Agreement provides that the Trustee shall indemnify the Sponsor, its directors, employees and agents against, and hold each of them harmless from, any loss, liability, cost, expense or judgment (including reasonable fees and expenses of counsel) (i) caused by the negligence or bad faith of the Trustee or (ii) arising out of any information furnished in writing to the Sponsor by the Trustee expressly for use in the registration statement, or any amendment thereto or periodic or other report filed with the SEC relating to the Shares that is not The Trust Agreement provides that the Sponsor and its shareholders, directors, officers, employees, affiliates (as such term is defined under the Securities Act of 1933, 1 2 The Trust has agreed that the Custodian will only be responsible for any loss or damage suffered by the Trust as a direct result of the Custodian’s negligence, fraud or willful default in the performance of its duties.

Note 6 - Commitments and Contin

Note 6 - Commitments and Contingent Liabilities	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	6 In the normal course of business, the Trust may may not

Note 7 - Concentration Risk

Note 7 - Concentration Risk	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	7 Substantially all of the Trust’s assets are holdings of silver bullion, which creates a concentration risk associated with fluctuations in the price of silver. Accordingly, a decline in the price of silver will have an adverse effect on the value of the Shares of the Trust. Factors that may

Note 8 - Financial Highlights

Note 8 - Financial Highlights	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Financial Highlights [Text Block]	8 The following financial highlights relate to investment performance and operations for a Share outstanding for the years ended December 31, 2023, 2022 2021. December 31, 2023 2022 2021 Net asset value per Share, beginning of year $ 22.03 $ 21.35 $ 24.61 Net investment loss (a) (0.11 ) (0.10 ) (0.12 ) Net realized and unrealized gain (loss) (b) (0.14 ) 0.78 (3.14 ) Net increase (decrease) in net assets from operations (0.25 ) 0.68 (3.26 ) Net asset value per Share, end of year $ 21.78 $ 22.03 $ 21.35 Total return, at net asset value (c) (1.13 )%  3.19 %  (13.25 )%  Ratio to average net assets: Net investment loss (0.50 )%  (0.50 )%  (0.50 )%  Expenses 0.50 %  0.50 %  0.50 %  (a) Based on average Shares outstanding during the year. (b) The amounts reported for a Share outstanding may not (c) Based on the change in net asset value of a Share during the year.

Note 9 - Investment Valuation

Note 9 - Investment Valuation	12 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Fair Value Disclosures [Text Block]	9 U.S. GAAP defines fair value as the price the Trust would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The Trust’s policy is to value its investment at fair value. Various inputs are used in determining the fair value of assets and liabilities. Inputs may may three three Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities; Level 2 Inputs other than quoted prices included within Level 1 not Level 3 Unobservable inputs that are unobservable for the asset or liability, including the Trust’s assumptions used in determining the fair value of investments. At December 31, 2023 December 31, 2022, 1.

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	A. Basis of Accounting The following significant accounting policies are consistently followed by the Trust in the preparation of its financial statements in conformity with generally accepted accounting principles in the United States of America (“U.S. GAAP”). The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Certain statements and captions in the financial statements for the prior periods have been changed to conform to the current financial statement presentation.
Investment, Policy [Policy Text Block]	B. Silver Bullion JPMorgan Chase Bank N.A., London branch (the “Custodian”), is responsible for the safekeeping of silver bullion owned by the Trust. Fair value of the silver bullion held by the Trust is based on the price per ounce of silver determined in an electronic auction consisting of one 30‑second 12:00 no Gain or loss on sales of silver bullion is calculated on a trade date basis using the average cost method. The following tables summarize activity in silver bullion for the years ended December 31, 2023, 2022 2021: Year Ended December 31, 2023 Ounces Cost Fair Realized Beginning balance 466,265,146 $ 10,025,562,224 $ 11,164,718,926 $ — Silver bullion contributed 153,556,215 3,580,116,083 3,580,116,083 — Silver bullion distributed (180,643,461 ) (3,939,416,144 ) (4,222,040,407 ) 282,624,263 Silver bullion sold to pay expenses (2,285,669 ) (49,834,316 ) (53,707,373 ) 3,873,057 Net realized gain — — 286,497,320 — Net change in unrealized appreciation/depreciation — — (361,918,369 ) — Ending balance 436,892,231 $ 9,616,427,847 $ 10,393,666,180 $ 286,497,320 Year Ended December 31, 2022 Ounces Cost Fair Realized Beginning balance 530,838,100 $ 11,330,688,133 $ 12,254,397,545 $ — Silver bullion contributed 162,289,256 3,608,993,778 3,608,993,778 — Silver bullion distributed (224,224,243 ) (4,857,116,435 ) (4,680,125,800 ) (176,990,635 ) Silver bullion sold to pay expenses (2,637,967 ) (57,003,252 ) (56,964,663 ) (38,589 ) Net realized loss — — (177,029,224 ) — Net change in unrealized appreciation/depreciation — — 215,447,290 — Ending balance 466,265,146 $ 10,025,562,224 $ 11,164,718,926 $ (177,029,224 ) Year Ended December 31, 2021 Ounces Cost Fair Realized Beginning balance 558,715,882 $ 10,472,474,303 $ 14,797,590,146 $ — Silver bullion contributed 256,106,607 6,742,609,430 6,742,609,430 — Silver bullion distributed (281,173,891 ) (5,825,814,648 ) (7,174,837,696 ) 1,349,023,048 Silver bullion sold to pay expenses (2,810,498 ) (58,580,952 ) (71,843,069 ) 13,262,117 Net realized gain — — 1,362,285,165 — Net change in unrealized appreciation/depreciation — — (3,401,406,431 ) — Ending balance 530,838,100 $ 11,330,688,133 $ 12,254,397,545 $ 1,362,285,165
Calculation of Net Asset Value [Policy Text Block]	C. Calculation of Net Asset Value On each business day, as soon as practicable after 4:00
Offering of the Shares [Policy Text Block]	D. Offering of the Shares Trust Shares are issued and redeemed continuously in aggregations of 50,000 Shares in exchange for silver bullion rather than cash. Individual investors cannot purchase or redeem Shares in direct transactions with the Trust. The Trust only transacts with registered broker-dealers that are eligible to settle securities transactions through the book-entry facilities of the Depository Trust Company and that have entered into a contractual arrangement with the Trustee and the Sponsor governing, among other matters, the creation and redemption of Shares (such broker-dealers, the “Authorized Participants”). Holders of Shares of the Trust may provided may not The per Share amount of silver exchanged for a purchase or redemption represents the per Share amount of silver held by the Trust, after giving effect to its liabilities. When silver bullion is exchanged in settlement of a redemption, it is considered a sale of silver bullion for accounting purposes. Share activities for the years ended December 31, 2023, 2022 2021 December 31, 2023 2022 2021 Shares Amount Shares Amount Shares Amount Shares issued 167,250,000 $ 3,580,116,083 175,900,000 $ 3,608,993,778 275,950,000 $ 6,742,609,430 Shares redeemed (196,800,000 ) (4,222,040,407 ) (243,150,000 ) (4,680,125,800 ) (303,100,000 ) (7,174,837,696 ) Net decrease (29,550,000 ) $ (641,924,324 ) (67,250,000 ) $ (1,071,132,022 ) (27,150,000 ) $ (432,228,266 )
Income Tax, Policy [Policy Text Block]	E. Federal Income Taxes The Trust is treated as a grantor trust for federal income tax purposes and, therefore, no The Sponsor has analyzed applicable tax laws and regulations and their application to the Trust as of December 31, 2023 not

Schedules of Investments (Table

Schedules of Investments (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Investment [Table Text Block]	Description Ounces Cost Fair Value Silver bullion 436,892,231 $ 9,616,427,847 $ 10,393,666,180 Total Investments – 100.04 10,393,666,180 Less Liabilities – (0.04) (4,488,405 ) Net Assets – 100.00 $ 10,389,177,775 Description Ounces Cost Fair Value Silver bullion 466,265,146 $ 10,025,562,224 $ 11,164,718,926 Total Investments – 100.04 11,164,718,926 Less Liabilities – (0.04) (4,633,955 ) Net Assets – 100.00 $ 11,160,084,971

Note 2 - Significant Accounti_2

Note 2 - Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Activity in Silver Bullion [Table Text Block]	Year Ended December 31, 2023 Ounces Cost Fair Realized Beginning balance 466,265,146 $ 10,025,562,224 $ 11,164,718,926 $ — Silver bullion contributed 153,556,215 3,580,116,083 3,580,116,083 — Silver bullion distributed (180,643,461 ) (3,939,416,144 ) (4,222,040,407 ) 282,624,263 Silver bullion sold to pay expenses (2,285,669 ) (49,834,316 ) (53,707,373 ) 3,873,057 Net realized gain — — 286,497,320 — Net change in unrealized appreciation/depreciation — — (361,918,369 ) — Ending balance 436,892,231 $ 9,616,427,847 $ 10,393,666,180 $ 286,497,320 Year Ended December 31, 2022 Ounces Cost Fair Realized Beginning balance 530,838,100 $ 11,330,688,133 $ 12,254,397,545 $ — Silver bullion contributed 162,289,256 3,608,993,778 3,608,993,778 — Silver bullion distributed (224,224,243 ) (4,857,116,435 ) (4,680,125,800 ) (176,990,635 ) Silver bullion sold to pay expenses (2,637,967 ) (57,003,252 ) (56,964,663 ) (38,589 ) Net realized loss — — (177,029,224 ) — Net change in unrealized appreciation/depreciation — — 215,447,290 — Ending balance 466,265,146 $ 10,025,562,224 $ 11,164,718,926 $ (177,029,224 ) Year Ended December 31, 2021 Ounces Cost Fair Realized Beginning balance 558,715,882 $ 10,472,474,303 $ 14,797,590,146 $ — Silver bullion contributed 256,106,607 6,742,609,430 6,742,609,430 — Silver bullion distributed (281,173,891 ) (5,825,814,648 ) (7,174,837,696 ) 1,349,023,048 Silver bullion sold to pay expenses (2,810,498 ) (58,580,952 ) (71,843,069 ) 13,262,117 Net realized gain — — 1,362,285,165 — Net change in unrealized appreciation/depreciation — — (3,401,406,431 ) — Ending balance 530,838,100 $ 11,330,688,133 $ 12,254,397,545 $ 1,362,285,165
Schedule of Capital Units [Table Text Block]	December 31, 2023 2022 2021 Shares Amount Shares Amount Shares Amount Shares issued 167,250,000 $ 3,580,116,083 175,900,000 $ 3,608,993,778 275,950,000 $ 6,742,609,430 Shares redeemed (196,800,000 ) (4,222,040,407 ) (243,150,000 ) (4,680,125,800 ) (303,100,000 ) (7,174,837,696 ) Net decrease (29,550,000 ) $ (641,924,324 ) (67,250,000 ) $ (1,071,132,022 ) (27,150,000 ) $ (432,228,266 )

Note 8 - Financial Highlights (

Note 8 - Financial Highlights (Tables)	12 Months Ended
	Dec. 31, 2023
Notes Tables
Financial Highlights [Table Text Block]	December 31, 2023 2022 2021 Net asset value per Share, beginning of year $ 22.03 $ 21.35 $ 24.61 Net investment loss (a) (0.11 ) (0.10 ) (0.12 ) Net realized and unrealized gain (loss) (b) (0.14 ) 0.78 (3.14 ) Net increase (decrease) in net assets from operations (0.25 ) 0.68 (3.26 ) Net asset value per Share, end of year $ 21.78 $ 22.03 $ 21.35 Total return, at net asset value (c) (1.13 )%  3.19 %  (13.25 )%  Ratio to average net assets: Net investment loss (0.50 )%  (0.50 )%  (0.50 )%  Expenses 0.50 %  0.50 %  0.50 %

Schedules of Investments - Inve

Schedules of Investments - Investments (Details)	Dec. 31, 2023 USD ($) oz	Dec. 31, 2022 USD ($) oz	Dec. 31, 2021 USD ($) oz	Dec. 31, 2020 USD ($) oz
Silver bullion (Ounce) | oz	436,892,231	466,265,146	530,838,100	558,715,882
Investment in silver bullion, cost	$ 9,616,427,847	$ 10,025,562,224	$ 11,330,688,133	$ 10,472,474,303
Silver bullion fair value	10,393,666,180	11,164,718,926
Less Liabilities	(4,488,405)	(4,633,955)
Net Assets	$ 10,389,177,775	$ 11,160,084,971	$ 12,249,234,223	$ 14,791,792,720

Schedules of Investments - In_2

Schedules of Investments - Investments (Details) (Parentheticals)	Dec. 31, 2023	Dec. 31, 2022
Total investment, percentage of net asset value	100.04%	100.04%
Less liabilities, percentage of net asset value	(0.04%)	(0.04%)
Net assets, percentage of net asset value	100%	100%

Note 2 - Significant Accounti_3

Note 2 - Significant Accounting Policies (Details Textual)	Dec. 31, 2023 shares
Shares Prescribed Aggregation (in shares)	50,000

Note 2 - Significant Accounti_4

Note 2 - Significant Accounting Policies - Activity in Silver Bullion (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) oz		Dec. 31, 2022 USD ($) oz		Dec. 31, 2021 USD ($) oz
Beginning balance (Ounce) | oz	466,265,146		530,838,100		558,715,882
Beginning balance, average cost	$ 10,025,562,224		$ 11,330,688,133		$ 10,472,474,303
Beginning balance, fair value	$ 11,164,718,926	[1]	$ 12,254,397,545		$ 14,797,590,146
Silver bullion contributed (Ounce) | oz	153,556,215		162,289,256		256,106,607
Silver bullion contributed, average cost	$ 3,580,116,083		$ 3,608,993,778		$ 6,742,609,430
Silver bullion contributed, fair value	$ 3,580,116,083		$ 3,608,993,778		$ 6,742,609,430
Silver bullion distributed (Ounce) | oz	(180,643,461)		(224,224,243)		(281,173,891)
Silver bullion distributed, average cost	$ (3,939,416,144)		$ (4,857,116,435)		$ (5,825,814,648)
Silver bullion distributed, fair value	(4,222,040,407)		(4,680,125,800)		(7,174,837,696)
Silver bullion distributed, realized gain (loss)	$ 282,624,263		$ (176,990,635)		$ 1,349,023,048
Silver bullion sold to pay expenses (Ounce) | oz	(2,285,669)		(2,637,967)		(2,810,498)
Silver bullion sold to pay expenses, average cost	$ (49,834,316)		$ (57,003,252)		$ (58,580,952)
Silver bullion sold to pay expenses, fair value	(53,707,373)		(56,964,663)		(71,843,069)
Silver bullion sold to pay expenses, realized gain (loss)	3,873,057		(38,589)		13,262,117
Net realized gain (loss), fair value	286,497,320		(177,029,224)		1,362,285,165
Net change in unrealized appreciation/depreciation, fair value	$ (361,918,369)		$ 215,447,290		$ (3,401,406,431)
Ending balance (Ounce) | oz	436,892,231		466,265,146		530,838,100
Ending balance, average cost	$ 9,616,427,847		$ 10,025,562,224		$ 11,330,688,133
Ending balance, fair value	10,393,666,180	[1]	11,164,718,926	[1]	12,254,397,545
Ending balance, realized gain (loss)	$ 286,497,320		$ (177,029,224)		$ 1,362,285,165
[1]Cost of investment in silver bullion: $9,616,427,847 and $10,025,562,224, respectively.

Note 2 - Significant Accounti_5

Note 2 - Significant Accounting Policies - Share Activity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Shares issued (in shares)	167,250,000	175,900,000	275,950,000
Shares issued	$ 3,580,116,083	$ 3,608,993,778	$ 6,742,609,430
Shares redeemed (in shares)	(196,800,000)	(243,150,000)	(303,100,000)
Distributions for Shares redeemed	$ (4,222,040,407)	$ (4,680,125,800)	$ (7,174,837,696)
Net decrease in Shares issued and outstanding (in shares)	(29,550,000)	(67,250,000)	(27,150,000)
Net decrease in net assets from capital share transactions	$ (641,924,324)	$ (1,071,132,022)	$ (432,228,266)

Note 3 - Trust Expenses (Detail

Note 3 - Trust Expenses (Details Textual) - USD ($)		12 Months Ended
	Jan. 31, 2022	Dec. 31, 2023
Sponsor's Fee Annualized Accrual Rate Based on Daily Net Asset Value		0.50%
Maximum [Member]
Legal Fees Per Year	$ 500,000

Note 8 - Financial Highlights -

Note 8 - Financial Highlights - Financial Highlights (Details) - $ / shares		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net asset value per Share, beginning of year (in dollars per share)		$ 22.03	$ 21.35	$ 24.61
Net investment loss (in dollars per share)	[1]	(0.11)	(0.1)	(0.12)
Net realized and unrealized gain (loss) (in dollars per share)	[2]	(0.14)	0.78	(3.14)
Net increase (decrease) in net assets from operations (in dollars per share)		(0.25)	0.68	(3.26)
Net asset value per Share, end of year (in dollars per share)		$ 21.78	$ 22.03	$ 21.35
Total return, at net asset value	[3]	(1.13%)	3.19%	(13.25%)
Ratio to average net assets:
Net investment loss		(0.50%)	(0.50%)	(0.50%)
Expenses		0.50%	0.50%	0.50%
[1]Based on average Shares outstanding during the year.[2]The amounts reported for a Share outstanding may not accord with the change in aggregate gains and losses on investment for the period due to the timing of Trust Share transactions in relation to the fluctuating fair values of the Trust’s underlying investment.[3]Based on the change in net asset value of a Share during the year.