Photo Credit: Treasure-Island-Coins
9.99 Troy Ounce Homestake Mining Company Vintage Poured Loaf Style Silver Bar Dated 1979
Buy It Now Price: $950 (price as of 2016; item no longer available)
Pros:
-This is an almost 10 troy ounce vintage silver bar produced by the Homestake Mining Company in 1979. The bar is hand poured in the traditional way from silver that is 99.9% pure.
-The Homestake Mining Company took its name from its famous namesake mine located in South Dakota.
-The Homestake Mine was one of the world's most prolific and longest operating gold mines. It produced an estimated 39.8 million troy ounces of gold and 9 million troy ounces of silver during its 123 years of operation, from 1878 to 2001.
-The Homestake Mining Company was listed on the New York Stock Exchange longer than any other company. Shares were traded on that exchange from 1879 until the company was delisted after being acquired by Canadian gold producer Barrick Gold Corporation in 2002.
-This vintage silver bar is unusual because it is dated. Most bullion bars produced are not dated.
-This old silver bar was fabricated during the infamous Silver Bubble of 1979/1980. Two Texas oil billionaire's - the Hunt brothers - attempt to corner the silver market, coupled with fears of imminent U.S. dollar hyperinflation, catapulted the price of silver to almost $50 a troy ounce (about $146 in inflation-adjusted 2016 dollars).
-This vintage silver bar's chunky "loaf" shape, substantial size and wonderful patina give it a lot of eye appeal. This eye appeal, along with the fact that it was produced by one of the world's most famous mining companies at the height of the Silver Bubble make it a very desirable piece.
Other Poured Vintage Silver Bars
Cons:
-With silver currently trading at $19.68 per troy ounce, this Homestake Mining Company silver bar contains $196.60 worth of silver. That means the $950 ask price is over 4.8 times its bullion value. This is a massive premium for an old silver bar, but may be justified given its excellent pedigree and historical interest to collectors.
