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Adam Sharp: The story behind silver's 30x move
By Adam Sharp
Daily Reckoning, Baltimore
Monday, July 21, 2025
In 1970 silver traded at around $1.60 per ounce. By its peak in 1980, it reached $49.45. A handsome 30x return.
The story of how it got there is full of intrigue and conspiracy. We’ll get to that. But first, a little background is in order.
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Monetary demand for silver had collapsed after the U.S. and other countries stopped using it in coins in 1965. Before that, America’s dimes and quarters were 90% silver. Other countries soon followed suit.
After governments ended their silver coinage, the market was flooded with stockpiles of the metal. Savvy collectors also bought up silver coins and melted them down. This temporarily boosted supply and depressed the price.
But inflation, and demand for hard money, were quietly building. In 1971 Nixon terminated the gold standard. From that point on, fiat money was completely free from the restraints of hard assets.
The dollar was no longer convertible to gold by foreign governments, and our coins were now made of copper and nickel rather than valuable silver.
Enter three brothers: William, Lamar, and Nelson Hunt. The three were sons of oil tycoon H.L. Hunt. ...
... For the remainder of the commentary:
https://dailyreckoning.com/the-untold-story-behind-silvers-30x-move/
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