On March 27, 1980 (later known as “Thursday of Money”), the price of a money ounce on one trading day dropped by about 50%- which is a lot. The price of metal, and especially a metal that should be stable and which has been used for centuries as a means of exchange, should not fall sharply.
The fall marked the end of the global silver market spin, which was largely the experience of three brothers: Nelson Bankar, William Herbert and said Hunt to purchase all the global money inventory and become a monopoly. They were unable to purchase everything, but were able to store about 200 million ounces-about a third of the world’s most marketable silver mapers.
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