As of 2026-10-12, COMEX-approved vaults held 332.01M oz of silver in total. Of that, 103.35M oz was registered (31.1% of the total) and 228.66M oz was eligible (CME Group daily warehouse report, via The Vault Report). Registered silver changed by +593.8K oz versus 2026-10-09. October month-to-date silver deliveries were 3,250 contracts, about 16.25M oz, as of 2026-10-13 (Heavy Metal Stats). The cards below load the latest figures from our data file.
COMEX warehouse stocks (gold & silver)
Report date: 2026-10-12. Source: CME Group daily warehouse reports via The Vault Report.
Silver
Gold
Gas tank: registered stock vs. deliveries
Each tank is filled to COMEX registered ounces; the dark band is month-to-date delivered ounces, on the same scale.
Silver: registered 103.35M oz (2026-10-12); October deliveries so far ≈16.25M oz (2026-10-13).
Registered vs eligible, in plain English
Every business day, CME Group publishes how much metal sits in each COMEX-approved depository, such as Brink's, JPMorgan, HSBC and Loomis. Each depository's silver is split into two buckets.
Registered silver has a warehouse warrant attached. A warrant is the paperwork that makes a bar deliverable against a COMEX futures contract, so registered metal is what can be handed over when someone holding a contract asks for delivery. A standard COMEX silver contract (SI) is 5,000 troy ounces, usually met with roughly 1,000-ounce bars.
Eligible silver meets COMEX's bar and purity standards and sits in the same vaults, but has no warrant. It belongs to someone who is simply storing it. The owner can turn it into registered metal by having a warrant issued, and registered metal can be moved back to eligible. Silver can also leave the system entirely when an owner withdraws it.
Total vault silver
Total is registered plus eligible: every ounce of silver sitting in COMEX-approved vaults on the report date. On 2026-10-12 that was 332.01M oz. Total is the widest measure of the metal physically in the system. It moves only when silver is deposited into or withdrawn from the vaults, while shifts between registered and eligible are paperwork inside the same buildings. Over the 30 days to 2026-10-12, registered silver went from 96.45M oz (2026-09-14) to 103.35M oz, a change of +7.2%. Watching total and registered together tells you whether a move is metal arriving or leaving, or just being reclassified.
Paper-to-silver ratio (vs total vault silver)
The paper-to-silver ratio compares open futures contracts with metal in the vaults. Silver open interest was 104,389 contracts, about 521.9M oz (CME Group Daily Bulletin, 2026-10-13 (CME Daily Bulletin fetched 2026-10-14; trade date assumed)). Measured against total vault silver (332.01M oz, 2026-10-12), that is about 1.57 ounces of paper per ounce in the vaults. Measured against registered silver only, it is about 5.05 to 1.
We lead with the total figure because eligible silver can be registered with paperwork, so it is the broadest reference. Neither number means contracts "can't be delivered": most futures are closed or rolled before expiry and never ask for metal. The ratio is context about the market's structure, not a forecast.
Delivery notices: issues and stops
During a delivery month, a short who wants to deliver files a notice. CME's daily delivery report shows issues (contracts where a clearing firm delivered metal) and stops (contracts where a firm received it), split into house and customer accounts. Each SI contract that is issued and stopped moves 5,000 ounces of registered silver from one owner to another. The metal usually stays in the vault; only the warrant changes hands. Month-to-date October silver deliveries were 3,250 contracts as of 2026-10-13. See the silver squeeze tracker and the deliveries tracker for daily entries.
How to read the CME report
- Find the date. The warehouse stocks report ("Silver Stocks") is dated with the activity date; it is published the next business day.
- Read by depository. Each vault has a row for registered and one for eligible, with the previous total, receipts (deposits), withdrawals, net change and adjustments.
- Check adjustments. A transfer between registered and eligible shows up as an adjustment, not a receipt or withdrawal.
- Sum the totals. The bottom lines give combined registered, eligible and total ounces, which is what we show here.
- Pair with deliveries. The separate delivery notices report shows issues and stops by firm. Compare it with registered stock to see how much of the deliverable cushion is being used.
Cautions
Moves between registered and eligible are often paperwork, not metal arriving or leaving. A falling registered number doesn't by itself mean a shortage, and a rising one doesn't mean a glut. Aggregator sites round eligible and total figures to 0.01M oz, and CME can revise reports. CME blocks automated downloads of its spreadsheets, so we take the figures from sites that republish them (The Vault Report, MetalCharts, Heavy Metal Stats) and cross-check where we can. A weekday routine refreshes latest.json and tank.json.
Related: Silver squeeze tracker · Silver & gold premiums · COMEX gold inventory · COMEX force majeure · Paper to metal (M1/M2) · Deliveries tracker
Sources
FAQ
What is the difference between registered and eligible silver?
Registered silver carries a warehouse warrant and can be delivered against a COMEX futures contract. Eligible silver meets COMEX standards and sits in the same vaults but has no warrant, so it is not deliverable until its owner registers it.
How much silver is in COMEX vaults?
As of 2026-10-12, 332.01M oz in total: 103.35M oz registered and 228.66M oz eligible (CME Group data via The Vault Report).
What is the COMEX paper-to-silver ratio?
Open interest in ounces divided by vault silver. With 521.9M oz of open interest and 332.01M oz total vault silver, it was about 1.57 to 1 (2026-10-12); against registered only, about 5.05 to 1.
What are issues and stops?
On CME delivery reports, issues are contracts where a firm delivered metal and stops are contracts where a firm received it.
How often is COMEX silver inventory updated?
CME Group publishes warehouse stocks each business day. VaultPulse refreshes its figures on weekdays and shows the report date next to every number.
How big is a COMEX silver contract?
The standard COMEX silver futures contract (SI) is 5,000 troy ounces.