101.62 pz Tri-State Refining Company Hand Pour Bar.

TriAdX

I am curious if anyone has some insight into this hand poured bar from Tri-State Refining Company. I have searched and searched and only found sub 30oz odd weight pours and those claim to be fairly rare and collectible... I can not find ANYTHING above 30oz from this company (which no longer exists) in old hand poured form.

Any insight into its collectibility would be appreciated.

https://i.imgur.com/yCli5Vx.jpg
https://i.imgur.com/yhGZ9Uw.jpg
https://i.imgur.com/CViyEYs.jpg

DrBuster

No help but that's a nice chunk.

ricko

@TriAdX.... Welcome aboard.... Have not seen that one before...and it is a big bar for sure. Thanks for the pictures. Cheers, RickO

TriAdX

Thanks a ton. I just didnt know if there was a level of collect-ability with something like this. or if anyone has seen anything over 101 oz..

1630Boston

@TriAdX

Not much info but found this

Tri-State Refining v. Apaloosa Company
State Civil LawsuitSouth Dakota Supreme Court, Case No. 15841 to 15845

Facts
In 1973, Robert Hoff (Hoff) married Linda Opdahl (Linda) and began working with Linda's father, Opdahl, at Sioux Fertilizer Company in Hawarden, Iowa. That same year Opdahl started a small business extracting silver from X-ray and other film products (Tri-State). The business prospered. In 1976, Opdahl purchased a gas-fired smelting unit and moved it to his farm near Hudson, South Dakota. Hoff managed Tri-State throughout this time.

In 1978, at the urging of several associates,[1] Opdahl placed his property into three trusts, with Opdahl named as trustee on each. The first trust, Sioux Enterprises (Sioux), consisted of the fertilizer business in Hawarden. Opdahl placed the refining business into a second trust known as Tri-State Refining Company. Finally, Opdahl placed the Hudson farm into a third trust, the Apaloosa Company (Apaloosa).

In November of 1979, Tri-State leased the Hudson farm from Apaloosa. The lease provided for a rental term of one year at $200 per month. Tri-State purchased equipment to mint the refined silver into bars at this farm.

Opdahl approached Hoff in 1980 concerning the purchase of Tri-State. In April of 1980, Opdahl and Hoff agreed upon a proposal, drawn up by Opdahl, for the sale of Tri-State. Opdahl was to receive 13,750 ounces of silver, valued at $275,000. In addition, Hoff agreed to pay a bank note owed by Tri-State before May 1, 1980. Finally, the proposal provided that Hoff was to make monthly payments over a period of ten years, beginning September 1, 1980. The proposal indicated that these payments would cover one-half the equity of Tri-State, plus certain other equipment.

A purchase and sale agreement, modeled after the proposal, was signed by Opdahl and Hoff on August 28, 1980. The sales agreement additionally provided that Hoff would continue to pay $200 per month rent for the lease of Apaloosa and that this rent was to be included in each monthly payment over ten years.

In December 1980, Hoff moved much of the Tri-State business to Sioux Falls. In February 1981, Hoff incorporated the Tri-State business. Tri-State continued to make monthly rental payments as some of the business remained on the leased property. Shortly thereafter, Opdahl made several attempts to evict Tri-State from the Apaloosa property. Opdahl sent a notice purporting to terminate the lease agreement and engaged in numerous physical interferences with Tri-State's use of the property. When Opdahl took possession of 75% of the property in October 1981, Tri-State reduced its monthly rental payments by $100. Eventually, Tri-State abandoned the remaining equipment on the property in 1983.

Tri-State experienced financial difficulties in 1981. Hoff suspected these difficulties stemmed from internal problems and hired a private investigator. This investigation led to a 1982 confession by an employee, *313 Nathan Clary (Clary), that he had stolen silver from Tri-State. Clary also admitted that he assisted Opdahl in removing excessive silver during 1980. It was undisputed that Opdahl received silver from Tri-State several times during the first six months of 1980. However, there was conflicting testimony concerning the amount of silver Opdahl received. Opdahl claimed that he did not even receive the amount he was entitled to under the sales agreement. In contrast, Tri-State, through its witnesses Clary and Paul East (East), a certified public accountant who reviewed Tri-State's financial records, claimed the amount received by Opdahl greatly exceeded what he was entitled to under the contract. This testimony indicated Opdahl received nearly $1,000,000 in silver.

Tri-State sued Apaloosa and Opdahl in 1984. The complaint alleged damages for breach of the lease contract and willful interference with Tri-State's use of the leased property. In 1986, Tri-State amended its complaint to include a claim for conversion of silver by Opdahl and his agents. After the close of the evidence at trial, the trial court permitted Tri-State to again amend its complaint to include an action for fraud and deceit. The trial court awarded Tri-State damages of $210,000 for fraud, $544,682.14 in prejudgment interest, and $13,400 for breach of the Apaloosa lease. The trial court also imposed sanctions of $5,500 on Opdahl.

more info here https://www.plainsite.org/dockets/20dyfj0ov/south-dakota-supreme-court/tristate-refining-v-apaloosa-company/

TriAdX

Yep, that's about all I could find on it too.

1630Boston

I'm pretty good at searching......so I'm not sure what else we will find.