Zeev's Turnips Patch-No Politics (ZEEV)

[basserdan]

Dan,

While you are looking, checkout the US strategic stockpile of silver and how it has changed during the last 3 years. (g)
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Hi Bruce,

I think you are foolin' with me.
<gg>
Two questions, if I may...
1) What am supposedly I looking for, and,
2) Pray tell what "US strategic stockpile of silver" you are referring to?

Last I heard, that particular item was little more than a memory...

I tried to find a table or graph on Google that would show me the actual rate of drawdown, but all I could find was some anecdotal evidence of vault being empty:
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13 June, 2002
Strategic silver stockpile -- And speaking of Dave Bond, the Associated Press picked up another recent story of his that stirred considerable interest. The item covered a new bill before Congress that was sponsored by Idaho Sen. Mike Crapo, Colorado Sen. Wayne Allard, and Nevada Sen. Harry Reid. The legislation would permit the government (including the U.S. Mint) to buy silver on the open market for the first time in around 40 years. The Defense Logistics Agency’s 730 million-ounce strategic stockpile of silver that was accumulated after WWII has now dwindled to the point that Crapo says it will be gone by the end of July. If passed, the law could give a nice boost for silver demand.

http://www.pennaluna.com/prospector.htm?news_item=316

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As a precious metal, silver is also used in coinage programs in many countries. The US Strategic Defence Stockpile contained approximately 2 billion ounces of silver after World War II. The last of this silver was delivered to the US Mint in 2001. Silver for future US coinage programs will be sourced from open market purchases.

http://www.panamericansilver.com/s/SilverUses.asp

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The four bills approved by Congress and signed into law are: a congressional gold medal bill to honor former Chairman of the Joint Chiefs of Staff Gen. Henry H. Shelton; establishment of a Franklin Tercentenary Commission to examine options, including commemorative coins, to celebrate the 300th anniversary of Benjamin Franklin's birth Jan. 17, 2006; the Fiscal Year 2002 Treasury appropriations; and legislation authorizing the Treasury to purchase silver on the open market to strike silver American Eagle bullion coins.

http://www.coinworld.com/ebay/news/120902/News-1.asp

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HISTORY: Some time before 1986 the US Government decided that most of their strategic stockpilesof metal, including silver, were no
longer needed. Rather than sell the millions of ounces stockpiled in bullion form, it was decided to mint and sell one ounce silver coins which would be a profitable and practical way to get rid of the stockpile. It was decided to mint coins with a nominal value of one dollar, which made them legal tender and exempt from the state sales tax that was charged in certain states. The coins would be a composition of 99.93% silver and .07 copper, weigh 31.101 grams of pure silver, which is almost exactly one troy ounce. Mintages of the coins and the approximate "dealer's buy" according to the year 2002 "Blue Book" are listed as follows:
YEAR QUANTITY ISSUED UNCIRCULATED PROOF
1986.........5,393,005 $7.00
1986S........1,446,778 $14.00
1987........11,442,335 $5.75
1987S..........904,732 $14.00
1988.........5,004,500 $5.75
1988S.........557,370 $20.00
1989.........5,203,327 $5.75
1989S.........617,694 $14.00
1990.........5,840,210 $5.75
1990S.........695,510 $14.00
1991.........7,191,066 $5.75
1991S.........511,925 $20.00
1992.........5,540,068 $5.75
1992S.........498,654 $15.00
1993.........6,763,762 $5.75
1993P.........403,025 $30.00
1994.........4,227,319 $6.00
1994P.........372,168 $42.00
1995.........4,672,051 $5.75
1995P.........395,400 $35.00
1995W..........30,125 $500.00
1996.........3,603,386 $8.00
1996P.........473,021 $20.00
1997.........4,295,004 $5.75
1997P.........429,682 $20.00
1998.........4,847,549 $5.75
1998P.........422,319 $20.00
1999.........9,133,000 $5.75
1999P.........549,769 $20.00
2000...................O $5.50
2000P.................O $15.00
2001...................P $5.50
2001P.................S! $15.00
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The OOPS! is mine for emphasis.... <VBG>