In the late 1970s, the billionaire Hunts of Texas used all their wiles and much of their wealth in what appeared to be a daring and nearly successful attempt to corner the silver market. The family accumulated some 200 million oz. of the precious metal in a series of purchases that helped drive silver prices from $11 per oz. in 1979 to $50 per oz. in January 1980, when the market finally crashed.
Last week the family revealed that it has completed the sale of 90% of its remaining silver hoard, amounting to some 53 million oz., for $320 million. The...
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