History of silver price from 1960 to 1965

For decades, the Treasury had been a net buyer of silver. By 1960, it had become a net seller. In 1960, the Treasury sold 22 million ounces of silver in bullion form, and used another 46 million ounces in coinage. The next year the Treasury had to sell 63 million ounces of bullion and use another 56 million ounces to replace silver coins that had been taken out of circulation by investors. That year, 1961, the Treasury realized that it would run out of silver for use in coinage and as a reserve against silver certificates unless it took drastic measures to begin phasing silver out of currency. In 1961, the Treasury ordered $5 and $10 silver certificates out of circulation, freeing silver reserves held against these bills and reducing the public’s call on Treasury silver. In November 1961 the government also suspended silver bullion sales by the Treasury at the formerly fixed price of 91 cents.


Once the Treasury stopped selling at that price, market quotes for silver quickly rose. In June 1963 the Treasury also replaced the $1 silver certificate with Federal Reserve notes. By 1963, silver prices reached $1.29, the monetary value of silver in coinage. At prices above this level, holders of silver certificates would have been able to redeem them for more valuable silver, under the now-defunct silver certificate legislation. (The other trigger price the Treasury worried about was $1.38, at which level it was profitable to recycle coinage for its silver content.)

During this transition period, the U.S. Treasury still had to keep the silver market well supplied, in order to keep the silver market relatively calm until it had completed the withdrawal of silver form its currency. In late 1963 the Treasury resumed its silver bullion sales, as part of this effort. Over the six years between 1960 and 1965, the Treasury sold a total of 342 million ounces of silver bullion. It used another 814 million ounces of silver in coinage during this same time. In total, the Treasury used 1,156,000,000 ounces of its silver reserves. Much of this silver, especially the bulk of it used in coins, found its way quickly into the hands of investors. Government steps to remove silver from the currency led investors to conclude that the price of silver would rise sharply once the Treasury no longer was supplying the market with such large volumes of the metal.

Fabrication demand continued to rise sharply. Industrial use, excluding coinage, rose at a 9 percent per annum pace, from 212.9 million ounces in 1959 to 355.8 million ounces in 1965. Including coinage, which grew rapidly during this same time due to the investor run on coins, total fabrication demand rose 16% per annum. Mine production, in contrast rose only 1.9% per year from 195.6 million ounces in 1959 to 218.4 million ounces in 1965.

Secondary recovery of silver was starting to expand, in part spurred by the realization that with the passing of Treasury silver sales and coinage programs the market would need to recover increasing amounts of silver from scrapped items. It was clear to market participants that silver prices had been restrained by the Treasury’s willingness to fill the gap between market supplies and industrial demand, and that once the Treasury’s silver was gone, additional supplies would have to be found elsewhere. Coin melt rose from 10 million ounces in 1960 to 30 million ounces in 1965. Silver recycling from other items rose from 40 million ounces in 1960 to 57 million ounces in 1965.

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History of silver price from 1950 to 1960

From the end of World War II until the early 1960s, fabrication demand for silver rose strongly. This period witnessed the rebuilding of Europe and Japan, and a tremendous push worldwide toward electrification, housing construction, and consumer durables. Many electrical appliances, as well as electrical generation and transmission systems, use silver, which was one of the major factors behind this extended boom in industrial silver usage. At least as important was the advent of mass market photographic products, which sharply increased the use of silver in photographic films and papers.

There was another reason why fabricators were eagerly turning to silver during this period. The U.S. Treasury had a silver inventory that, as of 1950, stood at 2 billion ounces. Furthermore, Treasury policy was to buy domestically mined silver at 90.5 cents per ounce and sell silver at 91 cents, effectively putting a cap on the United States market price of silver.

In this way, the U.S. Treasury was the buyer or seller of last resort in the silver market, by virtue of the Silver Purchase Act of 1934 (itself one of a series of such laws extending back to the 1870s). The 1934 law authorized the Treasury to buy silver either until:

•the market price reached $1.29 (the monetary value of silver) or

•the monetary value of Treasury silver stocks reached one-third of the monetary value of the Treasury’s gold stocks

This purchase program remained in effect, in essence, until 1961. During the intervening 28 years, the Treasury acquired 3.2 billion ounces of silver. About half was acquired in the first four years, from 1934 through 1937, and the other half between 1937 and 1955.

A good portion of this silver was acquired from U.S. mines: 880 million ounces, or nearly all domestic production from 1937 to 1955. About 110 million ounces were purchased during the first three months following passage of this legislation in 1934. The law prohibited Americans from owning non-monetary silver, and directed them to sell it to the Treasury. A great deal of silver was also imported. Between 1934 and 1939, nearly 2 billion ounces of silver came from other countries. Market prices ranged between 25 cents and the ceiling created by the Treasury’s set price of 90.5 cents during these years, but spent most of the time below 75 cents. U.S. fabrication demand (excluding coinage), which totaled 1.8 billion ounces from 1935 through 1955, was met by imported silver.

By 1955, the demand for silver was great enough to push market prices above the Treasury’s 90.5 cents purchase price. Since the Treasury was a seller at 91 cents, the price remained around this level for several more years, as the Treasury’s reserves were depleted. While the 1934 law directed the Treasury to buy silver with an eye on boosting the silver price to $1.29, the Treasury’s policy during the late 1950s was designed to keep silver prices below the point at which coins would be melted down, to allow time for the Treasury to extricate itself from the silver market.

Treasury reserves peaked in 1959, when the U.S. Treasury had 2,060,000,000 ounces on hand, and another 1,331,000,000 ounces were outside the Treasury in circulating coinage, for a total of 3,391,000,000 ounces.

In summary, the post-war period saw silver demand rise sharply, while mine production and other supplies were relatively stable. The U.S. Treasury sold tremendous amounts of stockpiled silver during the years after 1955, in order to keep the price of silver below its "monetary value." Additionally, the actual growth of the overall economy increased the need for circulating coinage. One reason for the Treasury’s sales was straightforward: if silver’s market value rose above its monetary value, $1.29 per ounce, holders of U.S. silver certificates, one form of currency in circulation at the time, could trade in these $1, $5, and $10 bills in exchange for silver bullion. Also, there would be an enormous incentive for individuals to melt down the silver coins in circulation.
Had the Treasury not been present as a seller of silver, market supplies from other sources would have been hard pressed to keep pace with the growth of fabrication demand, and the price of silver most likely would have risen sharply during the late 1950s and early 1960s

Menyimpan 1 kg Perak bagi setiap seorang anak

Antara produk awal DGE

Tajuk kali ini agak keterlaluan, tapi ada maksud tersirat jika di kaji. Jika kita mengambil contoh graf pada posting yg lepas ( di sini ), kita akan mendapati bahawa peningkatan perak ini, tidak dapat tidak akan berlaku juga. Bahawasanya, org yg baru berjinak2 dgn perak dalam setahun dua ni juga terpaksa mengakui ianya berlaku dan terjadi. Ia betul dlm jangka masa hanya 1 1/2 sahaja kenaikan per kg ialah lebih kurang rm 700 ( bagi harga semasa silver raw di pasaran )

 

Sebagai contoh, jika dilihat daripada graf di atas, katakan pada tahun 1991 bapa kita telah  membuat simpanan 1 kg perak pada umur 1 tahun dan pada tahun 2007 pada ketika itu umur kita sudah mencapai 16 tahun.

Data bagi tahun 1991 : harga perak purata tahun tersebut ialah 4.05 usd/ oz = rm 0.46 / gm

Data bagi tahun 2007: harga perak purata tahun tersebut ialah 13.38 usd/ oz = rm 1.51 / gm
Nota: ambil sbg 1USD fixed = RM 3.5 

Sebagai pengiraan:
tahun 1991 : 1 kg = RM 460
tahun 2007:  1 kg = RM 1510
kenaikan:   RM 1050 dlm masa 16 tahun =  328 % kenaikan (purata 20.5 % kenaikan dlm setahun)
Tetapi jika dibandingkan dgn harga sekarang: nilainya telah menjadi lebih tinggi
Tahun 2010  (13 oct ):  RM 2640
kenaikan :  RM 2180 = (473 % )
Dari contoh pengiraan di atas, adalah berbaloi utk kita membuat sedikit simpanan utk anak2 di mana ianya akan menampakkan hasil jika dibuat utk simpanan jangka masa panjang. Adalah tidak keterlaluan, 1 kg silver utk seorang anak. Kita perlu membuat perkiraan awal kerana harga perak kian meningkat dan modal utk 1 kg juga akan semakin tinggi.
Sekian utk posting kali ini. Terima kasih kpd saudara Ujangs yg membuat satu kempen yg amat berkesan kpd rakan2 kita di Blog tokei emas. Hubungi rakan2 kita yg ada menjual pelbagai produk perak selain kami di DGE dan SGE Group spt Silver Ray, Cikgu Azrul, Hazzyati, Adam,  dan lain2 yg tidak di sebut di sini.


Nota: harga di atas adalah berpandukan harga spot, bukan harga pasaran

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