"Silver squeeze" talk usually comes down to a few public numbers: how much deliverable silver is in COMEX vaults, how much is being delivered, how many paper contracts are open against it, and what physical coins cost over spot. This page puts them side by side, each with its date and source. It is a dashboard, not a forecast: nothing here says a squeeze is coming or not.
Snapshot
Registered vs total
October deliveries
Paper-to-silver
Silver Eagle premium
Registered vs total silver
Registered silver (103.35M oz) is the part that can be delivered against futures right now. Total (332.01M oz) adds eligible silver, which is stored in the same vaults and can be registered with paperwork. Over the 30 days to 2026-10-12, registered went from 96.45M oz to 103.35M oz (+7.2%). The live cards and gas tank below update 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).
Recent silver deliveries, stops and stock moves
- 2026-10-13: Silver deliveries pick back up: 120 contracts on Oct 13. About 600,000 oz (120 × 5,000 oz). October month-to-date: 3,250 contracts, about 16.25M oz. Source: Heavy Metal Stats (CME Group daily delivery notices)
- 2026-10-12: Registered silver climbs to 103.35M oz. 103.35M oz registered, up about 7.8% over 30 days (from about 96.5M oz in mid-September). Source: The Vault Report (CME Group daily warehouse stocks)
- 2026-10-12: Eligible silver down about 7.8M oz in a week and a half. About -7.8M oz (-3.3%). Total COMEX silver fell from 338.17M to 332.01M oz. Source: The Vault Report (CME Group daily warehouse stocks)
- 2026-10-08: Two-day silver delivery burst: 688 contracts on Oct 7–8. About 3.44M oz over two sessions. Source: Arc Research (CME Group delivery notices)
- 2026-09-29: Registered silver jumps 5.3M oz in two days. 96.28M → 101.56M oz (+5.28M oz, about +5.5%). Source: The Vault Report (CME Group daily warehouse stocks)
Issues are contracts delivered; stops are contracts received. Full daily log: deliveries tracker.
Paper-to-silver ratio
Silver open interest of 104,389 contracts is about 521.9M oz. Against total vault silver (332.01M oz) that is about 1.57 to 1; against registered it is about 5.05 to 1. Most contracts are closed or rolled before delivery, so this is a measure of market structure, not of unmet claims.
Premiums snapshot
1 oz American Silver Eagle, checked 2026-10-14 (bullion-compare.com (hourly dealer comparison; premium measured vs its independent spot floor)):
- SD Bullion: $66.16 (13.3% over $58.39 spot ref.)
- APMEX: $66.94 (14.6% over $58.39 spot ref.)
- JM Bullion: $75.26 (28.9% over $58.39 spot ref.)
Live dealer table below. Rising premiums can reflect retail demand; they are not a price signal.
How to use this page
Look at the numbers together rather than alone. Registered falling while deliveries rise and premiums climb tells a different story from registered falling because metal was simply reclassified to eligible. Every figure has a date; when dates differ, compare carefully. For the full explanation of each figure, read COMEX silver inventory, silver premiums and paper to metal.
Related: COMEX silver inventory · Silver & gold premiums · Gold/silver ratio · COMEX force majeure · Paper to metal (M1/M2) · Deliveries tracker
Sources
FAQ
Is there a silver squeeze right now?
VaultPulse does not make that call. This page shows dated public data (COMEX stock, deliveries, open interest, premiums) so you can judge for yourself. It is not financial advice.
What does registered vs total silver show?
Registered is the deliverable part of COMEX vault silver; total adds eligible silver stored in the same vaults. Comparing them shows how much is immediately deliverable.
Where does the delivery data come from?
CME Group daily delivery notices (issues and stops), republished by Heavy Metal Stats.