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<p>[QUOTE=&quot;harrync, post: 2127414, member: 58588&quot;]Actually, $49.45 was the top per ounce price of something called a &quot;good delivery bar&quot;, not for silver per se.&nbsp; These bars were approx. 1000 oz from one of three or four refiners that the Chicago Board of Trade designated as acceptable for delivery in satisfaction of a short contract.&nbsp; No other silver could satisfy your legal obligation, not even US coins. One major refiner was on strike, the other major stopped refining other people&#039;s silver and only refined its own - because it could buy junk silver (including 900 fine coins) for about $35 per oz or less, refine them at minimal cost, and get much more selling (and then delivering) on the exchange.&nbsp; I was there; I know that I could never even get $35 per oz for my junk silver, and that the dealers would always have gladly sold junk silver to me for that amount.&nbsp; It was a shortage of good delivery bars, not of silver itself, that drove the price up.[/QUOTE]</p><p><br /></p>

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