Silver: Stocks
Watching silver pile up in New York vaults
What this tab covers How much is left and how much is held. For minerals and energy: reserves, current output, years of supply and recycling for the top five countries. For farm commodities: production, ending stocks and stocks-to-use for the top five producers (USDA, October 2026). It also covers inventories and stockpiles.Top five countries: reserves, output and years of supply
| Country | Reserves t Ag content | Current output t Ag content (mine, 2025e) | Years of supply | Recycling |
|---|---|---|---|---|
| Mexico | 37,000 | 6,300 | 6 | n/a |
| Peru | 110,000 | 3,600 | 31 | n/a |
| China | 67,000 | 3,400 | 20 | n/a |
| Bolivia | 22,000 | 1,500 | 15 | n/a |
| Chile | 33,000 | 1,400 | 24 | n/a |
Recycling
World recycling was 197.6 Moz (about 6,150 t) in 2025, about 19% of mine plus recycled supply (Silver Institute). The US recovered about 1,000 t, 11% of apparent consumption (USGS MCS 2026). The EU end-of-life recycling input rate is 4% (EU CRM 2023), low because much silver is dissipated in electronics and solar panels. No official India figure was found. World reserves are 610,000 t, about 23 years of output; Australia's JORC-compliant reserves are 22,000 t against 91,000 t reported.
USGS puts world reserves at 610,000 tons, about 23 years of 2025 mine output, led by Peru, Russia and Australia. Exchange inventories are unusually visible. COMEX warehouse stocks rose from 9,910 tons at end-2024 to about 15,000 tons at end-2025, and the US Treasury holds 498 tons. Recycling supplied about 1,000 tons, or 11% of US apparent consumption, in 2025. The EU's end-of-life recycling input rate is just 4%. Silver in solar paste, electronics and antimicrobial products is spread very thinly, which makes it hard to recover.
Reserves
World reserves 610,000 metric tons Reserve life 23 years at 2025 production Peru 18% Russia 15% Australia 15% China 11% Poland 10% Largest reserve holders, share of world reserves (USGS MCS 2026). Reserves are what is economic to extract today, not what exists.Recycling
End-of-life recycling input rate in the EU: 4% of demand met from post-consumer scrap (EU CRM study 2023).In 2025 about 1,000 tons of silver was recovered in the US from new and old scrap, about 11% of apparent consumption.