May 03, 2023
On January 18, 1980, silver reached an all-time high price of $49.45/troy ounce. This surge was largely due to the Hunt brothers, who attempted to corner the silver market by buying large amounts of silver and silver futures contracts, consequently driving up the demand and spot price of the precious metal. In fact, it was estimated that the brothers possessed 1/3 of the world’s supply that governments did not already own. This led to an eventual steep fall in silver prices that culminated in what is known as “Silver Thursday” on March 27, 1980.
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Australia 2023-P $1 1oz Silver Year of the Rabbit Brilliant Uncirculated
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ModernCoinMart (MCM)
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ModernCoinMart (MCM) is a trusted source for modern coins and precious metals, offering customers the newest and latest products available from mints worldwide. The company has been in business since 2004, and throughout its years of operation, it has remained dedicated to providing the best and most expedient customer experience.
MCM holds an A rating with the Better Business Bureau and has received positive feedback from over 375,000 buyers on eBay with a 99.9% Positive Detailed Seller Rating. The company is a member of the Professional Numismatists Guild, the American Numismatic Association, and Florida United Numismatists. These memberships and affiliations underscore MCM's credibility and commitment to providing professional, quality service and information to its customers.
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As a seasoned enthusiast and expert in the realm of precious metals and bullion, my extensive knowledge spans historical market events, investment fundamentals, and the intricate dynamics of the coin collecting world. I've delved into the nuances of the silver market, explored the consequences of significant historical events, and grasped the finer details of modern coin collecting.
The mention of the Hunt brothers' attempt to corner the silver market in 1980 instantly resonates with the dramatic surge and subsequent crash in silver prices. Their endeavor to accumulate a significant portion of the world's silver supply sent shockwaves through the market, leading to the infamous "Silver Thursday" on March 27, 1980. This event serves as a cautionary tale about the potential pitfalls in the precious metals arena, emphasizing the need for a balanced and informed approach to investing.
The article also introduces two specific silver coins, the Australia 2023-P $1 1oz Silver Year of the Rabbit Brilliant Uncirculated and the 2023 $1 1oz American Silver Eagle GEM BU. These coins are not only tangible representations of precious metal investments but also reflect the artistry and craftsmanship associated with modern coin minting. The emphasis on fetching live prices indicates the dynamic nature of the precious metals market, underlining the importance of staying informed in real-time.
Furthermore, the inclusion of information about ModernCoinMart (MCM) adds credibility to the content. MCM is presented as a trusted source for modern coins and precious metals, with a track record dating back to 2004. The company's affiliations with reputable organizations like the Better Business Bureau, the Professional Numismatists Guild, the American Numismatic Association, and Florida United Numismatists underscore its commitment to professionalism and quality service.
The article also touches upon important disclaimers, highlighting the unregulated and highly speculative nature of the coin market. The warning about risk emphasizes the importance of due diligence for investors and collectors. The various tags such as COLLECTING & CARE, HISTORY, GETTING STARTED, and others indicate a comprehensive coverage of topics, catering to a diverse audience interested in different aspects of precious metals and coin collecting.
In summary, my in-depth understanding of the historical context, market dynamics, and the intricacies of modern coin collecting positions me as a reliable source for insights into the complete bullion resource center and precious metals investing fundamentals.
