3 Tons Of Silver! - Coin Community Forum

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Author	Replies: 6 / Views: 1,390
coinut Valued Member United States 362 Posts	Posted 09/09/2011 7:34 pm Wish I was this guy! So, I am at my coin/Silver dealer today and while I was waiting I was talking to the prior owner. He said that when they sold the shop they did not sell any of the sterling silver with it and they melted 3 TONS of silver, and, they still have it at the smelter being held for them after 3 years. I don't think I can imagine having 3 tons of silver. I told her to sell all of it except 10 Kilo bars, you know so you could amaze your friends with your hoard. lol Report this Post to the Staff

Namachieli Pillar of the Community United States 2120 Posts	Posted 09/09/2011 8:29 pm I cant remember for sure, but when talking PMs we would use Troy ounces in a Short Ton right? Not a Long Ton or Metric Tonne, right? If its a short Ton that's 29,166.6667 ounces per ton X 3 = 87,500 Troy ounces 87,500 X 41.50 (spot right now) = $3,631,250 USD Report this Post to the Staff
JackB Pillar of the Community United States 1064 Posts	Posted 09/09/2011 9:07 pm How would you even store something like that? In the city where I live (watch the movie 'The Fighter'), it would have all been carried off as soon as word got out! Report this Post to the Staff
ronpacheco4 New Member United States 41 Posts	Posted 09/09/2011 9:49 pm Buffet bought 100 million ounces when silver was at $6.50 Report this Post to the Staff
mmerlinn Valued Member United States 302 Posts	Posted 09/09/2011 11:08 pm Quote: How would you even store something like that? Put your silver in 2,000 pound sows. No one will walk off with it. However, someone would find a way if they knew about them, so you would still need to have someplace relatively inaccessible. Report this Post to the Staff
biggfredd Rest in Peace United States 9104 Posts	Posted 09/10/2011 2:49 pm You store it at the smelter....which is what the OP says they did. Report this Post to the Staff
Ed_B Pillar of the Community United States 4008 Posts	Posted 09/10/2011 6:34 pm Quote: Buffet bought 100 million ounces when silver was at $6.50 Yep... and sold it all MUCH too soon, as he readily admits now. Report this Post to the Staff
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