Posted on April 20, 2011 at 6:18pm
The number says it all- today Silver prices shot up over $45 dollars an ounce. I've never seen it so high- well, never have been really tuned in when it was high before...
In late 1979 I was in 8th grade, in Durham New Hampshire. We had just moved there from Newark Delaware a few months before. One of my memories of that time was a discussion that happened in one of my classes about the rising cost of silver- This was the time when "the Hunt brothers" (Nelson and William Hunt) attempted to corner the world market in silver. Prices from Sept 1979 to January 1980 silver prices rose from $11.00 and ounce to $50 an ounce.(and then subsequently dropped back down under $11, where it remained for many years..)
I recall one of my classmates very excited by this because he and his brothers had been given silver stock as a confirmation gift earlier that year. At the time- the rise in prices didn't mean much to me- it only left me with a pang… Continue