abrdn Silver ETF Trust (SIVR) 10-K 28 Feb 14 2013 FY Annual report Financial data

Document_And_Entity_Informatio

Document And Entity Information (USD $)	12 Months Ended
	Dec. 31, 2013	Feb. 26, 2014	Jun. 30, 2013
Document And Entity Information [Abstract]	'	'	'
Document Type	'10-K	'	'
Amendment Flag	'false	'	'
Entity Filer Category	'Accelerated Filer	'	'
Document Period End Date	31-Dec-13	'	'
Document Fiscal Year Focus	'2013	'	'
Document Fiscal Period Focus	'FY	'	'
Entity Registrant Name	'ETFS SILVER TRUST	'	'
Entity Central Index Key	'0001450922	'	'
Current Fiscal Year End Date	'--12-31	'	'
Entity Common Stock, Shares Outstanding	'	18,300,000	'
Entity Current Reporting Status	'Yes	'	'
Entity Public Float	'	'	$357,328,000
Entity Voluntary Filers	'No	'	'
Entity Well-known Seasoned Issuer	'No	'	'

Statements_of_Financial_Condit

Statements of Financial Condition (USD $)	Dec. 31, 2013		Dec. 31, 2012
ASSETS	'		'
Investment in silver	$346,436,000	[1]	$509,601,000	[1]
Total assets	346,436,000		509,601,000
LIABILITIES	'		'
Fees payable to Sponsor, net of waiver	88,391		140,323
Total liabilities	88,000		140,000
REDEEMABLE SHARES AND SHAREHOLDERS’ DEFICIT	'		'
Shares at redemption value to investors	346,348,000	[2]	551,340,000	[2]
Shareholders’ deficit	0		-41,879,000
Total liabilities, redeemable Shares and shareholders’ deficit	$346,436,000		$509,601,000
[1]	The investment in silver is valued at the lower of cost or market value. Refer to note 2.1 for a breakdown of cost and market value of the investment in silver.
[2]	Authorized share capital is unlimited and no par value per Share. Shares issued and outstanding at December 31, 2013 were 18,000,000 and at December 31, 2012 were 18,600,000.

Statements_of_Financial_Condit1

Statements of Financial Condition (Parenthetical)	Dec. 31, 2013	Dec. 31, 2012
Statements of Financial Condition [Abstract]	'	'
Common stock, shares authorized	'unlimited	'unlimited
Common stock, shares issued	18,000,000	18,600,000
Common stock, shares outstanding	18,000,000	18,600,000

Statements_of_Operations

Statements of Operations (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
REVENUES	'	'	'
Value of silver transferred to pay expenses	$1,360,000	$1,708,000	$1,929,000
Cost of silver transferred to pay expenses	-1,523,000	-1,512,000	-1,319,000
(Loss) / gain on silver transferred to pay expenses	-163,000	196,000	610,000
(Loss) / gain on silver distributed for the redemption of Shares	-8,241,000	5,448,000	78,822,000
Realized loss on investment in silver	-144,644,000	0	0
Total (loss) / gain on silver	-153,048,000	5,644,000	79,432,000
EXPENSES	'	'	'
Sponsor’s Fee, net of waiver (Note 2.7)	1,308,257	1,707,955	1,955,837
Total expenses	1,308,000	1,708,000	1,956,000
Net (loss) / gain from operations	($154,356,000)	$3,936,000	$77,476,000
Net (loss) / gain per Share (in Dollars per share)	($8.36)	$0.21	$4.18
Weighted average number of Shares (in Shares)	18,464,658	18,425,410	18,526,027

Statements_of_Cash_Flows

Statements of Cash Flows (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
INCREASE IN CASH FROM OPERATIONS:	'	'	'
Cash proceeds received from transfer of silver	$0	$0	$0
Cash expenses paid	0	0	0
Increase in cash resulting from operations	0	0	0
Cash and cash equivalents at beginning of year	0	0	0
Cash and cash equivalents at end of year	0	0	0
SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES:	'	'	'
Value of silver received for creation of Shares	24,087	54,303	348,315
Value of silver distributed for redemption of Shares - at average cost	41,085	67,753	151,790
RECONCILIATION OF NET (LOSS) / GAIN TO NET CASH PROVIDED BY OPERATING ACTIVITIES:	'	'	'
Net (loss) / gain from operations	-154,356	3,936	77,476
Adjustments to reconcile net (loss) / gain to net cash provided by operating activities:	'	'	'
Decrease / (increase) in investment in silver	163,165	14,962	-195,206
Decrease in silver receivable	0	0	6,100
(Decrease) / increase in silver payable	0	-8,392	8,392
(Decrease) / increase in fees payable to Sponsor	-52	0	16
Increase / (decrease) in redeemable Shares:	'	'	'
Creations	24,087	54,303	342,215
Redemptions	-32,844	-64,809	-238,993
Net cash provided by operating activities	0	0	0
SUPPLEMENTAL DISCLOSURE OF NON-CASH ITEM:	'	'	'
Value of silver transferred to pay expenses	$1,360	$1,708	$1,929

Statement_of_Changes_in_Shareh

Statement of Changes in Shareholders' Deficit (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Statement of Changes in Shareholders' Deficit [Abstract]	'	'	'
Shareholders’ deficit - opening balance	($41,879)	($18,274)	($173,978)
Net (loss) / gain from operations	-154,356	3,936	77,476
Adjustment of redeemable Shares to redemption value	196,235	-27,541	78,228
Shareholders’ deficit - closing balance	$0	($41,879)	($18,274)

Organization

Organization	12 Months Ended
	Dec. 31, 2013
Organization [Abstract]	'
Organization	'
	1. Organization
	The ETFS Silver Trust (the “Trust”) is an investment trust formed on July 20, 2009 under New York law pursuant to a depositary trust agreement (the “Trust Agreement”) executed by ETF Securities USA LLC (the “Sponsor”) and the Bank of New York Mellon (the “Trustee”) at the time of the Trust’s organization. The Trust holds silver bullion and issues ETFS Physical Silver Shares (the “Shares”) (in minimum blocks of 100,000 Shares, also referred to as “Baskets”) in exchange for deposits of silver and distributes silver in connection with redemption of Baskets. Shares represent units of fractional undivided beneficial interest in and ownership of the Trust which are issued by the Trust. The Sponsor is a Delaware limited liability company that is a wholly-owned subsidiary of ETF Securities Limited, a Jersey, Channel Islands based company. The Trust is governed by the Trust Agreement.
	The investment objective of the Trust is for the Shares to reflect the performance of the price of silver, less the Trust’s expenses and liabilities. The Trust is designed to provide an individual owner of beneficial interests in the Shares (a “Shareholder”) an opportunity to participate in the silver market through an investment in securities.

Significant_Accounting_Policie

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2013
Significant Accounting Policies [Abstract]	'
Significant Accounting Policies	'
	2. Significant Accounting Policies
	The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires those responsible for preparing financial statements to make estimates and assumptions that affect the reported amounts and disclosures. Actual results could differ from those estimates. The following is a summary of significant accounting policies followed by the Trust.
	2.1. Valuation of Silver
	Silver is held by HSBC Bank USA, National Association (the “Custodian”), on behalf of the Trust and is valued, for financial statement purposes, at the lower of cost or market. The cost of silver is determined according to the average cost method and the market value is based on the London Fix used to determine the net asset value (“NAV”) of the Trust. Realized gains and losses on transfers of silver to pay the remuneration due to the Sponsor (“Sponsor’s Fee”), or silver distributed for the redemption of Shares, are calculated on a trade date basis using average cost. The price for an ounce of silver is set by three market making members of the London Bullion Market Association at approximately 12:00 noon London time on each working day.
	Once the value of silver has been determined, the NAV is computed by the Trustee by deducting all accrued fees and other liabilities of the Trust, including the Sponsor’s Fee, from the fair value of the silver and all other assets held by the Trust.
	The table below summarizes the unrealized gains or realized losses on the Trust’s silver holdings as of December 31, 2013 and 2012:
		31-Dec-13		31-Dec-12
	(Amounts in 000's of US$)
	Investment in silver - average cost	$	491,080	$	509,601
	Realized loss on investment in silver		-144,644		-
	Investment in silver - lower of cost or market value		346,436		509,601
	Unrealized gain on investment in silver		-		41,879
	Investment in silver - market value	$	346,436	$	551,480
	The Trust recognizes the diminution in value of the investment in silver which arises from market declines on an interim basis. Increases in the value of the investment in silver through market price recoveries in later interim periods of the same fiscal year are recognized in the later interim period. Increases in value recognized on an interim basis may not exceed the previously recognized diminution in value. At December 31, 2013 the market value of silver had fallen below the average cost, therefore a loss of $144,644,320 was realized on the silver.
	The per Share amount of silver exchanged for a purchase or redemption is calculated daily by the Trustee, using the London Fix to calculate the silver amount in respect of any liabilities for which covering silver sales have not yet been made, and represents the per-Share amount of silver held by the Trust, after giving effect to its liabilities, to cover expenses and liabilities and any losses that may have occurred.
	2.2. Silver Receivable and Payable
	Silver receivable or payable represents the quantity of silver covered by contractually binding orders for the creation or redemption of Shares respectively, where the silver has not yet been transferred to or from the Trust’s account. Generally, ownership of the silver is transferred within three days of trade date. There was no silver receivable or payable at December 31, 2013 and 2012.
	2.3. Creations and Redemptions of Shares
	The Trust expects to create and redeem Shares from time to time, but only in one or more Baskets (a Basket equals a block of 100,000 Shares). The Trust issues Shares in Baskets to Authorized Participants on an ongoing basis. Individual investors cannot purchase or redeem Shares in direct transactions with the Trust. An Authorized Participant is a person who (1) is a registered broker-dealer or other securities market participant such as a bank or other financial institution which is not required to register as a broker-dealer to engage in securities transactions, (2) is a participant in The Depository Trust Company, (3) has entered into an Authorized Participant Agreement with the Trustee and the Sponsor and (4) has established an Authorized Participant Unallocated Account with the Custodian or another silver bullion clearing bank to effect transactions in silver bullion. An Authorized Participant Agreement is an agreement entered into by each Authorized Participant, the Sponsor and the Trustee which provides the procedures for the creation and redemption of Baskets and for the delivery of the silver required for such creations and redemptions. An Authorized Participant Unallocated Account is an unallocated silver account established with the Custodian by an Authorized Participant.
	The creation and redemption of Baskets is only made in exchange for the delivery to the Trust or the distribution by the Trust of the amount of silver represented by the Baskets being created or redeemed, the amount of which is based on the combined NAV of the number of Shares included in the Baskets being created or redeemed determined on the day the order to create or redeem Baskets is properly received.
	Authorized Participants may, on any business day, place an order with the Trustee to create or redeem one or more Baskets. The typical settlement period for Shares is three business days. In the event of a trade date at period end, where a settlement is pending, a respective account receivable and/or payable will be recorded. When silver is exchanged in settlement of redemption, it is considered a sale of silver for financial statement purposes.
	The amount of bullion represented by the Baskets created or redeemed can only be settled to the nearest 1/1000th of an ounce. As a result, the value attributed to the creation or redemption of Shares may differ from the value of bullion to be delivered or distributed by the Trust. In order to ensure that the correct metal is available at all times to back the Shares, the Sponsor accepts an adjustment to its management fees in the event of any shortfall or excess. For each transaction, this amount is not more than 1/1000th of an ounce.
	The Shares of the Trust are classified as “Redeemable Capital Shares” for financial statement purposes, since they are subject to redemption at the option of Authorized Participants. Outstanding Shares are reflected at redemption value, which represents the maximum obligation (based on NAV per Share) with the difference from historical cost recorded as an offsetting amount to retained earnings.
	Changes in the Shares for the years ended December 31, 2013, 2012 and 2011 are as follows:
		Year		Year		Year
		Ended		Ended		Ended
		31-Dec-13		31-Dec-12		31-Dec-11
	(Amounts in 000's of US$, except for Share and per Share data)
	Number of redeemable Shares
	Opening balance		18,600,000		19,100,000		16,700,000
	Creations		900,000		1,700,000		8,900,000
	Redemptions		-1,500,000		-2,200,000		-6,500,000
	Closing balance		18,000,000		18,600,000		19,100,000
	Redeemable Shares:
	Opening balance	$	551,340	$	534,305	$	509,311
	Creations		24,087		54,303		342,215
	Redemptions		-32,844		-64,809		-238,993
	Adjustment to redemption value		-196,235		27,541		-78,228
	Closing balance	$	346,348	$	551,340	$	534,305
	Redemption value per Share at year end	$	19.24	$	29.64	$	27.97
	2.4. Revenue Recognition Policy
	Revenue consists of realized gains / losses resulting from the transfer of silver for Share redemptions and / or to pay expenses.  Realized gains / losses are recognized on a trade date basis.
	The primary expense of the Trust is the Sponsor’s Fee, which is paid by the Trust through in-kind transfers of silver to the Sponsor. With respect to expenses not otherwise assumed by the Sponsor, the Trustee will, at the direction of the Sponsor or in its own discretion, sell the Trust’s silver as necessary to pay these expenses. When selling silver to pay expenses, the Trustee will endeavor to sell the smallest amounts of silver needed to pay these expenses in order to minimize the Trust’s holdings of assets other than silver.
	Unless otherwise directed by the Sponsor, when selling silver the Trustee will endeavor to sell at the price established by the London Fix. The Trustee will place orders with dealers (which may include the Custodian) through which the Trustee expects to receive the most favorable price and execution of orders. The Custodian may be the purchaser of such silver only if the sale transaction is made at the next London PM Fix used by the Trustees to value the Trust’s silver. Following the sale order, a gain or loss is recognized based on the difference between the selling price and the average cost of the silver sold. Neither the Trustee nor the Sponsor is liable for depreciation or loss incurred by reason of any sale.
	2.5. Income Taxes
	The Trust is classified as a “grantor trust” for U.S. federal income tax purposes. As a result, the Trust itself will not be subject to U.S. federal income tax. Instead, the Trust’s income and expenses will “flow through” to the Shareholders, and the Trustee will report the Trust’s proceeds, income, deductions, gains, and losses to the Internal Revenue Service on that basis.
	The Trust has adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 740-10, Income Taxes. The Sponsor has evaluated the application of ASC 740-10 to the Trust, to determine whether or not there are uncertain tax positions that require financial statement recognition. Based on this evaluation, the Sponsor has determined no reserves for uncertain tax positions are required to be recorded as a result of the application of ASC 740. As a result, no income tax liability or expense has been recorded in the accompanying financial statement.
	2.6 Investment in Silver
	Changes in ounces of silver and the respective values for the years ended December 31, 2013, 2012 and 2011 are as follows:
		Year		Year		Year
		Ended		Ended		Ended
		31-Dec-13		31-Dec-12		31-Dec-11
	(Amounts in 000's of US$, except for ounces data)
	Ounces of silver
	Opening balance		18,413,374.2		19,263,211.3		16,432,768.8
	Creations		890,077.9		1,684,899.6		9,048,980.8
	Redemptions		-1,482,521.10		-2,479,571.60		-6,164,137.00
	Transfers of silver		-54,982.20		-55,165.10		-54,401.30
	Closing balance		17,765,948.8		18,413,374.2		19,263,211.3
	Investment in silver (lower of cost or market value)
	Opening balance	$	509,601		524,563	$	329,357
	Creations		24,087		54,303		348,315
	Redemptions		-41,085		-67,753		-151,790
Transfers of silver		-1,523		-1,512		-1,319
Realized loss on investment in silver		-144,644		-		-
Closing balance	$	346,436	$	509,601	$	524,563
At December 31, 2011, 297,810.213 oz of silver relating to unsettled redemptions were payable. The cost of silver payable at December 31, 2011 was $8,109,767 and its market value at December 31, 2011 was $8,392,292.
These balances have been excluded from the December 31, 2011 balances in the table above.
2.7. Expenses
The Trust will transfer silver to the Sponsor to pay the Sponsor’s Fee that will accrue daily at an annualized rate equal to 0.45% of the adjusted daily NAV of the Trust, paid monthly in arrears. Presently, the Sponsor is continuing to waive a portion of its fee and reduce the Sponsor’s Fee to 0.30% (which it has done since the Date of Inception).
The Sponsor has agreed to assume administrative and marketing expenses incurred by the Trust, including the Trustee’s monthly fee and out-of-pocket expenses, the Custodian’s fee and the reimbursement of the Custodian’s expenses, exchange listing fees, United States Securities and Exchange Commission (the “SEC”) registration fees, printing and mailing costs, audit fees and certain legal expenses.
For the year ended December 31, 2013, the Sponsor’s Fee, net of waiver, was $1,308,257  (December 31, 2012: $1,707,955;  December 31, 2011: $1,955,837).
As a result of the waiver, fees waived for the year ending December 31, 2013 were $654,129  (December 31, 2012: $853,978;  December 31, 2011: $977,919).
At December 31, 2013, $88,391 was payable to the Sponsor (December 31, 2012: $140,323).
2.8. Recent Accounting Pronouncements
In June 2013, the Financial Accounting Standards Board issued ASU 2013-08, Financial Services –Investment Companies (Topic 946): Amendments to the Scope, Measurement and Disclosure Requirements. ASU 2013-08 changes the approach to the investment company assessment, requires non-controlling ownership interests in other investment companies to be measured at fair value, and requires additional disclosures about the investment company's status as an investment company. The amendments are effective for interim and annual reporting periods beginning after December 15, 2013. The Trust is currently evaluating the impact, if any, this pronouncement will have on the financial statements.
2.9. Subsequent Events
In accordance with the provisions set forth in FASB ASC 855-10, Subsequent Events, the Trust’s management has evaluated the possibility of subsequent events existing in the Trust’s financial statements through the issuance date. Management has determined that there are no material events that would require adjustment to or disclosure in the Trust’s financial statements through this date.

Related_Parties

Related Parties	12 Months Ended
	Dec. 31, 2013
Related Parties [Abstract]	'
Related Parties	'
	3. Related Parties
	The Sponsor and the Trustee are considered to be related parties to the Trust. The Trustee’s and Custodian’s fees are paid by the Sponsor and are not separate expenses of the Trust. The Trustee and the Custodian and their affiliates may from time to time act as Authorized Participants or purchase or sell silver or Shares for their own account, as agent for their customers and for accounts over which they exercise investment discretion.

Concentration_Of_Risk

Concentration Of Risk	12 Months Ended
	Dec. 31, 2013
Concentration Of Risk [Abstract]	'
Concentration Of Risk	'
	4. Concentration of Risk
	The Trust’s sole business activity is the investment in silver, and substantially all the Trust’s assets are holdings of silver which creates a concentration risk associated with fluctuations in the price of silver. Several factors could affect the price of silver, including: (i) global silver supply and demand, which is influenced by factors such as forward selling by silver producers, purchases made by silver producers to unwind silver hedge positions, central bank purchases and sales, and production and cost levels in major silver-producing countries; (ii) investors’ expectations with respect to the rate of inflation; (iii) currency exchange rates; (iv) interest rates; (v) investment and trading activities of hedge funds and commodity funds; and (vi) global or regional political, economic or financial events and situations. In addition, there is no assurance that silver will maintain its long-term value in terms of purchasing power in the future. In the event that the price of silver declines, the Sponsor expects the value of an investment in the Shares to decline proportionately. Each of these events could have a material effect on the Trust’s financial position and results of operations.

Indemnification

Indemnification	12 Months Ended
	Dec. 31, 2013
Indemnification [Abstract]	'
Indemnification	'
	5. Indemnification
	Under the Trust’s organizational documents, each of the Trustee (and its directors, employees and agents) and the Sponsor (and its members, managers, directors, officers, employees, and affiliates) is indemnified by the Trust against any liability, cost or expense it incurs without gross negligence, bad faith or willful misconduct on its part and without reckless disregard on its part of its obligations and duties under the Trust’s organizational documents.
	The Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust that have not yet occurred.

Significant_Accounting_Policie1

Significant Accounting Policies (Policy)	12 Months Ended
	Dec. 31, 2013
Significant Accounting Policies [Abstract]	'
Valuation Of Silver	'
	2.1. Valuation of Silver
	Silver is held by HSBC Bank USA, National Association (the “Custodian”), on behalf of the Trust and is valued, for financial statement purposes, at the lower of cost or market. The cost of silver is determined according to the average cost method and the market value is based on the London Fix used to determine the net asset value (“NAV”) of the Trust. Realized gains and losses on transfers of silver to pay the remuneration due to the Sponsor (“Sponsor’s Fee”), or silver distributed for the redemption of Shares, are calculated on a trade date basis using average cost. The price for an ounce of silver is set by three market making members of the London Bullion Market Association at approximately 12:00 noon London time on each working day.
	Once the value of silver has been determined, the NAV is computed by the Trustee by deducting all accrued fees and other liabilities of the Trust, including the Sponsor’s Fee, from the fair value of the silver and all other assets held by the Trust.
	The table below summarizes the unrealized gains or realized losses on the Trust’s silver holdings as of December 31, 2013 and 2012:
		31-Dec-13		31-Dec-12
	(Amounts in 000's of US$)
	Investment in silver - average cost	$	491,080	$	509,601
	Realized loss on investment in silver		-144,644		-
	Investment in silver - lower of cost or market value		346,436		509,601
	Unrealized gain on investment in silver		-		41,879
	Investment in silver - market value	$	346,436	$	551,480
	The Trust recognizes the diminution in value of the investment in silver which arises from market declines on an interim basis. Increases in the value of the investment in silver through market price recoveries in later interim periods of the same fiscal year are recognized in the later interim period. Increases in value recognized on an interim basis may not exceed the previously recognized diminution in value. At December 31, 2013 the market value of silver had fallen below the average cost, therefore a loss of $144,644,320 was realized on the silver.
	The per Share amount of silver exchanged for a purchase or redemption is calculated daily by the Trustee, using the London Fix to calculate the silver amount in respect of any liabilities for which covering silver sales have not yet been made, and represents the per-Share amount of silver held by the Trust, after giving effect to its liabilities, to cover expenses and liabilities and any losses that may have occurred.
Silver Receivable And Payable	'
	2.2. Silver Receivable and Payable
	Silver receivable or payable represents the quantity of silver covered by contractually binding orders for the creation or redemption of Shares respectively, where the silver has not yet been transferred to or from the Trust’s account. Generally, ownership of the silver is transferred within three days of trade date. There was no silver receivable or payable at December 31, 2013 and 2012.
Creations And Redemptions Of Shares	'
	2.3. Creations and Redemptions of Shares
	The Trust expects to create and redeem Shares from time to time, but only in one or more Baskets (a Basket equals a block of 100,000 Shares). The Trust issues Shares in Baskets to Authorized Participants on an ongoing basis. Individual investors cannot purchase or redeem Shares in direct transactions with the Trust. An Authorized Participant is a person who (1) is a registered broker-dealer or other securities market participant such as a bank or other financial institution which is not required to register as a broker-dealer to engage in securities transactions, (2) is a participant in The Depository Trust Company, (3) has entered into an Authorized Participant Agreement with the Trustee and the Sponsor and (4) has established an Authorized Participant Unallocated Account with the Custodian or another silver bullion clearing bank to effect transactions in silver bullion. An Authorized Participant Agreement is an agreement entered into by each Authorized Participant, the Sponsor and the Trustee which provides the procedures for the creation and redemption of Baskets and for the delivery of the silver required for such creations and redemptions. An Authorized Participant Unallocated Account is an unallocated silver account established with the Custodian by an Authorized Participant.
	The creation and redemption of Baskets is only made in exchange for the delivery to the Trust or the distribution by the Trust of the amount of silver represented by the Baskets being created or redeemed, the amount of which is based on the combined NAV of the number of Shares included in the Baskets being created or redeemed determined on the day the order to create or redeem Baskets is properly received.
	Authorized Participants may, on any business day, place an order with the Trustee to create or redeem one or more Baskets. The typical settlement period for Shares is three business days. In the event of a trade date at period end, where a settlement is pending, a respective account receivable and/or payable will be recorded. When silver is exchanged in settlement of redemption, it is considered a sale of silver for financial statement purposes.
	The amount of bullion represented by the Baskets created or redeemed can only be settled to the nearest 1/1000th of an ounce. As a result, the value attributed to the creation or redemption of Shares may differ from the value of bullion to be delivered or distributed by the Trust. In order to ensure that the correct metal is available at all times to back the Shares, the Sponsor accepts an adjustment to its management fees in the event of any shortfall or excess. For each transaction, this amount is not more than 1/1000th of an ounce.
	The Shares of the Trust are classified as “Redeemable Capital Shares” for financial statement purposes, since they are subject to redemption at the option of Authorized Participants. Outstanding Shares are reflected at redemption value, which represents the maximum obligation (based on NAV per Share) with the difference from historical cost recorded as an offsetting amount to retained earnings.
	Changes in the Shares for the years ended December 31, 2013, 2012 and 2011 are as follows:
		Year		Year		Year
		Ended		Ended		Ended
		31-Dec-13		31-Dec-12		31-Dec-11
	(Amounts in 000's of US$, except for Share and per Share data)
	Number of redeemable Shares
	Opening balance		18,600,000		19,100,000		16,700,000
	Creations		900,000		1,700,000		8,900,000
	Redemptions		-1,500,000		-2,200,000		-6,500,000
	Closing balance		18,000,000		18,600,000		19,100,000
	Redeemable Shares:
	Opening balance	$	551,340	$	534,305	$	509,311
	Creations		24,087		54,303		342,215
	Redemptions		-32,844		-64,809		-238,993
	Adjustment to redemption value		-196,235		27,541		-78,228
	Closing balance	$	346,348	$	551,340	$	534,305
	Redemption value per Share at year end	$	19.24	$	29.64	$	27.97
Revenue Recognition Policy	'
	2.4. Revenue Recognition Policy
	Revenue consists of realized gains / losses resulting from the transfer of silver for Share redemptions and / or to pay expenses.  Realized gains / losses are recognized on a trade date basis.
	The primary expense of the Trust is the Sponsor’s Fee, which is paid by the Trust through in-kind transfers of silver to the Sponsor. With respect to expenses not otherwise assumed by the Sponsor, the Trustee will, at the direction of the Sponsor or in its own discretion, sell the Trust’s silver as necessary to pay these expenses. When selling silver to pay expenses, the Trustee will endeavor to sell the smallest amounts of silver needed to pay these expenses in order to minimize the Trust’s holdings of assets other than silver.
	Unless otherwise directed by the Sponsor, when selling silver the Trustee will endeavor to sell at the price established by the London Fix. The Trustee will place orders with dealers (which may include the Custodian) through which the Trustee expects to receive the most favorable price and execution of orders. The Custodian may be the purchaser of such silver only if the sale transaction is made at the next London PM Fix used by the Trustees to value the Trust’s silver. Following the sale order, a gain or loss is recognized based on the difference between the selling price and the average cost of the silver sold. Neither the Trustee nor the Sponsor is liable for depreciation or loss incurred by reason of any sale.
Income Taxes	'
	2.5. Income Taxes
	The Trust is classified as a “grantor trust” for U.S. federal income tax purposes. As a result, the Trust itself will not be subject to U.S. federal income tax. Instead, the Trust’s income and expenses will “flow through” to the Shareholders, and the Trustee will report the Trust’s proceeds, income, deductions, gains, and losses to the Internal Revenue Service on that basis.
	The Trust has adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 740-10, Income Taxes. The Sponsor has evaluated the application of ASC 740-10 to the Trust, to determine whether or not there are uncertain tax positions that require financial statement recognition. Based on this evaluation, the Sponsor has determined no reserves for uncertain tax positions are required to be recorded as a result of the application of ASC 740. As a result, no income tax liability or expense has been recorded in the accompanying financial statement.
Investment In Silver	'
	2.6 Investment in Silver
	Changes in ounces of silver and the respective values for the years ended December 31, 2013, 2012 and 2011 are as follows:
		Year		Year		Year
		Ended		Ended		Ended
		31-Dec-13		31-Dec-12		31-Dec-11
	(Amounts in 000's of US$, except for ounces data)
	Ounces of silver
	Opening balance		18,413,374.2		19,263,211.3		16,432,768.8
	Creations		890,077.9		1,684,899.6		9,048,980.8
	Redemptions		-1,482,521.10		-2,479,571.60		-6,164,137.00
	Transfers of silver		-54,982.20		-55,165.10		-54,401.30
	Closing balance		17,765,948.8		18,413,374.2		19,263,211.3
	Investment in silver (lower of cost or market value)
	Opening balance	$	509,601		524,563	$	329,357
	Creations		24,087		54,303		348,315
	Redemptions		-41,085		-67,753		-151,790
	Transfers of silver		-1,523		-1,512		-1,319
	Realized loss on investment in silver		-144,644		-		-
	Closing balance	$	346,436	$	509,601	$	524,563
	At December 31, 2011, 297,810.213 oz of silver relating to unsettled redemptions were payable. The cost of silver payable at December 31, 2011 was $8,109,767 and its market value at December 31, 2011 was $8,392,292.
	These balances have been excluded from the December 31, 2011 balances in the table above.
Expenses	'
	2.7. Expenses
	The Trust will transfer silver to the Sponsor to pay the Sponsor’s Fee that will accrue daily at an annualized rate equal to 0.45% of the adjusted daily NAV of the Trust, paid monthly in arrears. Presently, the Sponsor is continuing to waive a portion of its fee and reduce the Sponsor’s Fee to 0.30% (which it has done since the Date of Inception).
	The Sponsor has agreed to assume administrative and marketing expenses incurred by the Trust, including the Trustee’s monthly fee and out-of-pocket expenses, the Custodian’s fee and the reimbursement of the Custodian’s expenses, exchange listing fees, United States Securities and Exchange Commission (the “SEC”) registration fees, printing and mailing costs, audit fees and certain legal expenses.
	For the year ended December 31, 2013, the Sponsor’s Fee, net of waiver, was $1,308,257  (December 31, 2012: $1,707,955;  December 31, 2011: $1,955,837).
	As a result of the waiver, fees waived for the year ending December 31, 2013 were $654,129  (December 31, 2012: $853,978;  December 31, 2011: $977,919).
	At December 31, 2013, $88,391 was payable to the Sponsor (December 31, 2012: $140,323).
Recent Accounting Pronouncements	'
	2.8. Recent Accounting Pronouncements
	In June 2013, the Financial Accounting Standards Board issued ASU 2013-08, Financial Services –Investment Companies (Topic 946): Amendments to the Scope, Measurement and Disclosure Requirements. ASU 2013-08 changes the approach to the investment company assessment, requires non-controlling ownership interests in other investment companies to be measured at fair value, and requires additional disclosures about the investment company's status as an investment company. The amendments are effective for interim and annual reporting periods beginning after December 15, 2013. The Trust is currently evaluating the impact, if any, this pronouncement will have on the financial statements.
Subsequent Events	'
	2.9. Subsequent Events
	In accordance with the provisions set forth in FASB ASC 855-10, Subsequent Events, the Trust’s management has evaluated the possibility of subsequent events existing in the Trust’s financial statements through the issuance date. Management has determined that there are no material events that would require adjustment to or disclosure in the Trust’s financial statements through this date.

Significant_Accounting_Policie2

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2013
Significant Accounting Policies [Abstract]	'
Schedule Of Unrealized Gains Or Losses On The Trust's Silver Holdings	'
		31-Dec-13		31-Dec-12
	(Amounts in 000's of US$)
	Investment in silver - average cost	$	491,080	$	509,601
	Realized loss on investment in silver		-144,644		-
	Investment in silver - lower of cost or market value		346,436		509,601
	Unrealized gain on investment in silver		-		41,879
	Investment in silver - market value	$	346,436	$	551,480
Schedule Of Redeemable Capital Shares	'
		Year		Year		Year
		Ended		Ended		Ended
		31-Dec-13		31-Dec-12		31-Dec-11
	(Amounts in 000's of US$, except for Share and per Share data)
	Number of redeemable Shares
	Opening balance		18,600,000		19,100,000		16,700,000
	Creations		900,000		1,700,000		8,900,000
	Redemptions		-1,500,000		-2,200,000		-6,500,000
	Closing balance		18,000,000		18,600,000		19,100,000
	Redeemable Shares:
	Opening balance	$	551,340	$	534,305	$	509,311
	Creations		24,087		54,303		342,215
	Redemptions		-32,844		-64,809		-238,993
	Adjustment to redemption value		-196,235		27,541		-78,228
	Closing balance	$	346,348	$	551,340	$	534,305
	Redemption value per Share at year end	$	19.24	$	29.64	$	27.97
Schedule Of Investment In Silver	'
		Year		Year		Year
		Ended		Ended		Ended
		31-Dec-13		31-Dec-12		31-Dec-11
	(Amounts in 000's of US$, except for ounces data)
	Ounces of silver
	Opening balance		18,413,374.2		19,263,211.3		16,432,768.8
	Creations		890,077.9		1,684,899.6		9,048,980.8
	Redemptions		-1,482,521.10		-2,479,571.60		-6,164,137.00
	Transfers of silver		-54,982.20		-55,165.10		-54,401.30
	Closing balance		17,765,948.8		18,413,374.2		19,263,211.3
	Investment in silver (lower of cost or market value)
	Opening balance	$	509,601		524,563	$	329,357
	Creations		24,087		54,303		348,315
	Redemptions		-41,085		-67,753		-151,790
	Transfers of silver		-1,523		-1,512		-1,319
	Realized loss on investment in silver		-144,644		-		-
	Closing balance	$	346,436	$	509,601	$	524,563

Organization_Details

Organization (Details)	12 Months Ended
	Dec. 31, 2013
Organization [Abstract]	'
Minimum block of shares issued redeemed against silver	100,000

Significant_Accounting_Policie3

Significant Accounting Policies (Narrative) (Details) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Significant Accounting Policies [Abstract]	'	'	'
Realized loss on silver	$144,644,320	'	'
Annualized rate of Sponsors Fee	0.45%	'	'
Annualized rate of Sponsors Fee after waiver	0.30%	'	'
Sponsor Fees	1,308,257	1,707,955	1,955,837
Sponsor fees waived	654,129	853,978	977,919
Fees payable to the Sponsor	$88,391	$140,323	'

Significant_Accounting_Policie4

Significant Accounting Policies (Schedule Of Unrealized Gains Or Losses On The Trust's Silver Holdings) (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
Significant Accounting Policies [Abstract]	'	'
Investment in silver - average cost	$491,080,000	$509,601,000
Realized loss on investment in silver	144,644,320	'
Investment in silver - lower of cost or market value	346,436,000	509,601,000
Unrealized gain on investment in silver	0	41,879,000
Investment in silver - market value	$346,436,000	$551,480,000

Significant_Accounting_Policie5

Significant Accounting Policies (Schedule Of Silver Receivable And Payable) (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Significant Accounting Policies [Abstract]	'	'	'
Silver receivable	$0	$0	'
Silver payable	$0	$0	$8,392,292

Significant_Accounting_Policie6

Significant Accounting Policies (Schedule Of Redeemable Capital Shares) (Details) (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2013		Dec. 31, 2012		Dec. 31, 2011
Significant Accounting Policies [Abstract]	'		'		'
Opening balance (in Shares)	18,600,000		19,100,000		16,700,000
Creations (in Shares)	900,000		1,700,000		8,900,000
Redemptions (in Shares)	-1,500,000		-2,200,000		-6,500,000
Closing balance (in Shares)	18,000,000		18,600,000		19,100,000
Opening balance	$551,340	[1]	$534,305		$509,311
Creations	24,087		54,303		342,215
Redemptions	-32,844		-64,809		-238,993
Adjustment to redemption value	-196,235		27,541		-78,228
Closing balance	$346,348	[1]	$551,340	[1]	$534,305
Redemption value per Share at period end (in Dollars per share)	$19.24		$29.64		$27.97
[1]	Authorized share capital is unlimited and no par value per Share. Shares issued and outstanding at December 31, 2013 were 18,000,000 and at December 31, 2012 were 18,600,000.

Significant_Accounting_Policie7

Significant Accounting Policies (Schedule Of Investment In Silver) (Details) (USD $)	12 Months Ended
	Dec. 31, 2013		Dec. 31, 2012		Dec. 31, 2011
	oz		oz		oz
Significant Accounting Policies [Abstract]	'		'		'
Opening balance (in Ounces)	18,413,374.20		19,263,211.30		16,432,768.80
Creations (in Ounces)	890,077.90		1,684,899.60		9,048,980.80
Redemptions (in Ounces)	-1,482,521.10		-2,479,571.60		-6,164,137
Transfers of silver (in Ounces)	-54,982.20		-55,165.10		-54,401.30
Closing balance (in Ounces)	17,765,948.80		18,413,374.20		19,263,211.30
Opening balance	$509,601,000	[1]	$524,563,000		$329,357,000
Creations	24,087,000		54,303,000		348,315,000
Redemptions	-41,085,000		-67,753,000		-151,790,000
Transfers of silver	-1,523,000		-1,512,000		-1,319,000
Realized loss on investment in silver	144,644,000		0		0
Closing balance	346,436,000	[1]	509,601,000	[1]	524,563,000
Silver payable ounces of silver	'		'		297,810.21
Silver payable at lower of cost or market value	'		'		8,109,767
Silver Payable At Market Value	$0		$0		$8,392,292
[1]	The investment in silver is valued at the lower of cost or market value. Refer to note 2.1 for a breakdown of cost and market value of the investment in silver.