Sunshine's silver standard
Although the nation does not seem ready to return to the gold standard, the soaring prices of precious metals are encouraging one company to have a go at using silver in lieu of money. Sunshine Mining Co., owner of the country's largest silver mine, the Sunshine in the Coeur d'Alene mining district of Idaho, plans to raise $50 million to expand mining operations by issuing silver-backed bonds. In the 19th century bonds were redeemable in gold, but American companies have not offered securities supported by precious metals since 1933.
Sunshine's 15-year bonds will be sold in $1,000 denominations next March,...
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