| | | The US had a stockpile of silver..... .at peak it was 3.3 Billion ozs....now zero.
Now that silver is to be added to critical mineral list how much will the US purchase?
The U.S. Treasury's silver stockpile varied significantly over time, with historical records indicating substantial holdings at different points. Based on available information:
Peak Stockpile (1942): The Treasury amassed a massive stockpile of up to 3.3 billion troy ounces of silver by 1942, accumulated through various Silver Purchase Acts from the 1870s to the 1960s, primarily to support the mining industry and back silver certificates.
1968 Transfer: In June 1968, the Treasury transferred 165 million troy ounces of silver to the Strategic and Critical Materials Stockpile under the Defense Department, as silver was phased out of U.S. currency. This marked the end of significant Treasury silver holdings for monetary purposes.
Depletion by 2002: The Strategic Stockpile, which started with 165 million ounces in 1968, had 25.5 million ounces removed in 1970, leaving 139.5 million ounces. This remained stable until 1985, after which it was gradually sold off, primarily to mint American Silver Eagle coins, and was fully depleted by 2002 |
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