5 oz US Assay Strategic Stockpile Silver Bar Type 2 U.S. Assay
- Source: eBay
U. S. Strategic Stockpile SilverFormerly stored at U. S. Assay Office San Francisco Double your traffic.
Here's the historic story of this old limited silver minting:In the early 70's Nelson and William Hunt (Brothers) from Texas oil wealth along with some wealthy Arab friends, hatched a plan to corner the worlds Silver supply. By the later 70's this group had cornered over 200 million ozs of the metal. That was half the worlds available supply. A monopoly would mean they could ask whatever they wanted for their silver holdings. In 1979 the US government determined that silver was no longer a necessary strategic metal. With the new threat of the Hunt Brothers developing, sending the price of silver over 50 Dollars an oz. (hitting $54), a plan to deflate the threat was developed by the Government. First new rules were imposed at the NY stock exchange. The second part involved releasing millions of ounces of Stockpile Silver into the open market. In 1981 that silver was minted into coins and bars by Continental Coin. It was a relatively small amount (about 25 million ounces) compared to the Hunt holdings, yet it was enough to stabilize the spiraling price and send the Hunt Brothers into bankruptcy. Beginning in 1986 the remaining silver from this stockpile was made into ... read more