100 oz. Hunt silver bar, the real story

- February 15, 2016 -

A blast from the past.

Many of our wholesale and retail customers are unaware that Jack Hunt Coin Broker once produced and marketed of 100 oz. silver bars. It’s come to our attention recently that there are some who mistakenly believe that these bars are a rare collectors item, produced by the infamous Hunt brothers (no relation to Jack).

A little history

The brothers, Nelson Bunker Hunt and William Herbert Hunt, were the sons of oil tycoon Haroldson Lafayette “H. L.” Hunt, Jr. In addition, they were also brothers to Lamar Hunt, founder of the American Football League and the Kansas City Chiefs.

Nelson and William used their vast wealth in an attempt to corner the silver market in the late 1970s. They acquired over 195 million ounces (estimated to be 1/3 of the world’s liquid, non-government held, supply of silver). At silver’s peak in early 1980 their ‘stash’ was worth nearly $10 billion (at $48.70/oz). In March of 1980 the silver market collapsed, loosing an astonishing 80% of its value. As a result both the brothers went bankrupt but ultimately regained their wealth years later.

The real story

Now while it would be a far more interesting story if the the Hunt brothers had minted the 100 oz. Hunt silver bars they were actually produced by Jack Hunt Coin Broker. Their were two versions of the Hunt bar.

The stamp for original Hunt bar now serves as a paperweight in Jack Hunt Coin Broker’s offices.

The first was produced at a manufacturing facility Jack Hunt setup in Upstate New York. The second was produced by Leach Garner in Toronto, Ontario, Canada (just a 90 minute drive north of Jack Hunt’s home office in Kenmore, NY).  Peter Sherlock, Jack Hunt’s former VP of Precious Metals Trading, recalled when Jack Hunt first started production of Hunt bars.

“The fact that the bar said ‘Hunt’ on them didn’t mean anything. There was a shortage of generic silver bars at the time and the Hunt bars were produced in response to the shortage. Eventually the silver market caught up and it was no longer profitable for Jack Hunt to produce its own bars.”

The original 100 oz Hunt bar. Rare but not a collector’s item.

The Original Hunt Bar

Weight: 100 Troy oz.
Fineness: .999+
Dimensions: 155 x 78 x 28 mm
Number Manufactured: Approximately 5000
Manufacturer: Jack Hunt Coin Broker 1981-1982

Hunt Bar Version 2. Also rare and not a collectors item.

Second Version of Hunt Bar

Weight: 100 Troy ozs.
Fineness: .999
Dimensions: 160 x 80 x 25 mm
Number Manufactured: Approximately 5000
Manufacturer: Leach Garner 1982-1983

Hunt to Hunt

On a side note, Jack Hunt was once in contact with Nelson Bunker Hunt. In 1981 they corresponded regarding the sale of US90%. Nothing resulted from their communication but it was a great source of pride the Nelson personally responded to Jack’s inquiry.

Hunt to Hunt letter dated August 5th, 1981.

Where are they now?

On rare occasion a retail customer returns to sell Hunt bars they originally purchased over 30 years ago. To those customers who still hold their original purchase receipt, we continue to honor the 97% of spot buy back guarantee they were offered at time of purchase. Yet we believe have overwhelming majority of the Hunt bars have since been melted or are buried treasure for future generations to find.