Lot of (4) Rare Vintage 1oz Troy Fine 999 Silver Bache & Co Securities Bars

Description: Hello, this is a pre-owned Lot of (4) Rare Vintage 1oz Troy Fine 999 Silver Bache & Co Securities Discontinued Bars (READ THE HISTORY BELOW!!)These 1 Troy oz .999 fine silver bars were minted for the storied Bache and Company securities firm. Bache and Company were looking for a White Knight in 1979 to fend off a takeover attempt by the Belzberg family, and ended up in business with Bunker and Herbert Hunt. As we all know, the Hunts attempted to corner the silver market, which they ran up to more than $50 an ounce, from less than $10. Unfortunately, Bache extended a quarter of a billion dollars of margin to the Hunts without establishing whether they could produce the cash if it were ever needed. On Jan. 20, 1980, the Commodity Exchange torpedoed the Hunts by forbidding new orders in silver futures except to liquidate existing positions. On Thursday, March 27th 1980 (Silver Thursday) Bache issued a $100 million margin call to the Hunts, which they could not meet. As the price of silver slid to $11, Bache had to dump some of their silver, depressing prices further. Outside speculators began dumping too. In fact, a general panic in the commodities and futures markets ensued. A consortium of US banks provided a $1.1 billion line of credit to the brothers which allowed them to pay Bache which, in turn, survived the ordeal. However, the beleaguered Hunts sold their Bache stock to the Belzbergs, whose holdings thus reached 14 percent. In desperation, Bache sold out to Prudential (do you remember Prudential-Bache, don't you?), consoling the Belzbergs with a $40 million profit. These bars have all that history behind them, one of the greatest stories in the history of commodities trading. They are rare and were made in limited quantities.Each bar weighs about 31.1 grams and the pieces were acid-tested to ensure the presence of silver. Classy and elegant; add this to your vintage and antique bullion collection, or make this a gift to a friend or family member. Item will ship via USPS Ground Advantage or UPS Ground (buyer's choice). International shipping is only available using the Ebay Global shipping program. No returns accepted- all sales are final. Please conduct all due diligence prior to purchase. (Se habla Espanol tambien.) Check out my other listings for similar items available for purchase. Thank you for visiting my listing.

Price: 300 USD

Location: Fresno, California

End Time: 2024-12-03T04:45:48.000Z

Shipping Cost: 0 USD