Can some one tell me if and when silver was sold at $3 per oz.

Casman

Hi there:

First post in the pm forum...working on a case wherein a claim has been made that a large quantity of silver was purchased years ago for exactly $3 per oz.

I am confident I know where the purchase was made but doubt the dealer would keep any sort of records back that far. Client guestimated 25 years ago?

Thanks

derryb

Had to be before 1984 Scroll down to YEARLY SILVER CHARTS. Check each box for the years 1984 through 2014. Then click the "view data" button.

There was a 1984-2014 low of $3.56 on 3/9/93.

rawteam1

silver yearly

go here then click yearly 1883-1999

rawteam1

<< <i>Had to be before 1984 Scroll down to YEARLY SILVER CHARTS. Check each box for the years 1984 through 2014. Then click the "view data" button.

There was a 1984-2014 low of $3.56 on 3/9/93. >>



also if a dealer then .50 or so behind spot would be a true purchase at that time period...
see 1990 -1994 5 year silver chart at same link as above...

derryb

based on yearly averages from rawteams link looks like sometime in 1972 or 1973. Since these are yearly averages it is possible that a later year saw a daily dip to $3 but without daily data before 1984 no way to tell. Daily data that is availabe after 1983 tells us there was no three dollar silver spot price. Dealer prices are a different story.

Jinx86

I have receipts from 1991 stating $3.15 / ounce. The bar was gifted to me by my grandfather, still have it.

Timbuk3

Since the Ag market collapsed in 1980,
silver has stayed in the range of about
$3.00+ to $6.00+ for 20 years. I remember
purchasing Ag bars in the early 1970's for
$2.00 +.

roadrunner

I have Coin World clippings from the early days 30-40 yrs ago) with the lowest listed price at $3.40/oz. Silver rallied from around $1.20 to $2.40/oz from 1962 to 1967. And if you go back to the lows during the 1930's I think it was as low as 25c/oz. $4/oz was the cheapest it was in the last 15 years. It's quite possible a dealer buying in the 1999-2001 period could have paid $3/oz while silver was worth $4/oz. At the bottom of that market there were probably people trying to give it away figuring it was dead forever after that 20 year collapse/consolidation 1980-2001.

VanHalen

I remember selling some of my dad's 90% in the late 1970's for 3X face and that was under melt ($4) at that time. This website might help you out: Silver Institute

My guess would be 1972 as the last time silver was widely available <$3.

Cut and paste this if the link doesn't work: https://www.silverinstitute.org/site/silver-price/silver-price-history/1971-1978/

roadrunner

<< <i>Since the Ag market collapsed in 1980,
silver has stayed in the range of about
$3.00+ to $6.00+ for 30 years. I remember
purchasing Ag bars in the early 1970's for
$2.00 +. >>



30 years is 1980-2010. What ever happened to silver from $6 to $50 from 2004 to 2011?

Timbuk3

Your right roadrunner, should have been 20 years.

cohodk

<< <i>Your right roadrunner, should have been 20 years. >>



Yeah, buts whats 20-30 years for a stacker?

I remember selling a 100oz bar in the early 90s for about $4.50/oz. That was after holding it for about 6 years--and a 40% loss. Sure glad history doesnt repeat.

DeepCoin

Before it was allowed to float, I do believe silver was $1.29 in the 60s, so there has to be a $3.00 point in there somewhere.

Casman

The purchase would have been made at Abbott's in Birmingham Michigan. I suppose we could call them but what are the odds they would keep and or have any sort of records from so long ago?

derryb

<< <i>

<< <i>Your right roadrunner, should have been 20 years. >>



Yeah, buts whats 20-30 years for a stacker?

I remember selling a 100oz bar in the early 90s for about $4.50/oz. That was after holding it for about 6 years--and a 40% loss. Sure glad history doesnt repeat. >>


It will as long as the same mistakes repeat.

gsa1fan

How large of a buy? more you buy cheaper it is sometimes. Especially if someone is motivated.