As one General Services Administration official put it: "This wasn't any 5 and 10¢-store trade. These were Tiffany items." On the block in what must have been one of the most widely watched auctions ever held was a small chunk of the U.S.'s 276 million-oz. gold stockpile, offered for sale to the public in minimum lots of 400 oz.worth $70,000 at pre-sale prices. But when the 209 bids submitted last week were opened, it looked like the great gold sale had drawn a strictly Woolworth's crowd.
European Buyers. The Government threw out 56 bids, among them a number of frivolous ones...
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