In January of 1980, the price of silver skyrocketed to nearly $50. Adjusted for inflation that’s more than $160 an ounce for silver. Before this, the Hunt Brothers had been stockpiling silver as a hedge against the market. What followed was known as Silver Thursday, an attempt to rapidly drop the price of silver as the government dumped its stockpile of silver into the open market. Among these was the 1 oz U.S. Assay Office Vintage Art Silver Round, available now at JM Bullion.
- Arrives in protective plastic flips!
- Contains 1 Troy oz of .999 silver.
- The obverse field shows the American flag with an eagle.
- The reverse side features identifying marks of the round.
The Hunt Brothers, Nelson, Lamar, and William, attempted to corner the market on silver. Before 1979, to hedge against the market, these brothers accumulated as much silver as they possibly could. At their peak, it was estimated they owned around 1/3 of all non-government silver. On January 1, 1979, silver was trading at a little over $6 an ounce. A year later, the price of silver had skyrocketed to a record high of $49.45 an ounce, a 713% increase. As a result, the government dumped the 165 million ounces of silver they had into the open market to quickly drop the price down. As a result, the Hunt Brothers lost over a billion dollars.
Each order of the 1 oz U.S. Assay Office Vintage Art Silver Round will arrive in protective plastic flips to preserve the condition of your silver round. These coins display a “CC” mint mark; however, these coins were not minted at the Carson City Mint. Instead, the “CC” mint mark relates to the Continental Coin & Jewelry Company which bought a large amount of silver and produced the rounds in question.
The obverse of each 1 oz U.S. Assay Office Vintage Art Silver Round showcases an American flag and eagle design. This image is located front and center on the obverse and shows an eagle swooping in with the American flag waving in the background. A wreath is pictured on either side of this image while identifying marks of the round are located at the top and bottom of the round.
The reverse field of the 1 oz U.S. Assay Office Vintage Art Silver Round showcases further identifying marks. “U.S. Assay Office San Francisco” is displayed front and center, while six stars along with the year of issue are shown on the bottom.
The customer service team at JM Bullion is available for any inquiries you have. Give our team a call today at 800-276-6508. We can also be contacted via email as well as our online chat feature.