Posted 01/03/2008 12:14 pm
I remember well the days the Hunt brothers tried to corner the silver market. Prices were out of sight. I was lucky because the coin store I did business with allowed me to look through as many of the tens of thousands of dimes, quarters, half dollars and dollars they took in at the time to cherry-pick coins for my collection. They, of course, always looked out for the key dates when taking coins from customers, but I found a lot of nice semi-keys and other dates.
I have no idea how much was melted down, but the dealer said they sold over $100,000 face value worth of silver coins to their buyer over a three or four week period. The lines at the store were out the door and down the hall (it was in a mall). People had the family silverware, teapots, etc. Gold was also over $800 at the time, and people were selling their wedding bands, class rings, and so forth.
I hope we never see such a thing again!
I have no idea how much was melted down, but the dealer said they sold over $100,000 face value worth of silver coins to their buyer over a three or four week period. The lines at the store were out the door and down the hall (it was in a mall). People had the family silverware, teapots, etc. Gold was also over $800 at the time, and people were selling their wedding bands, class rings, and so forth.
I hope we never see such a thing again!
