So the story behind the strategic stockpile starts in the early 1940’s. During this time the University of California working on the Manhattan Project (unlimited amounts of conspiracy theories behind this) was trying new methods of enriching uranium. They asked the then Treasury Secretary, Daniel Bell, for 430 Million Troy ounces of silver. With the borrowed silver they made 1,000-troy-ounce (31 kg) silver bars that then was extruded into strips .625in thick, 3in wide and 40ft long. They sent the newly made strips to Allis-Chalmers to be wound onto magnetic coils used in the enrichment process. When the project was completed in the 1970’s, they returned the Silver to the treasury with a loss of only 1/3,600,000.
In 1971 the precious metals would no longer be used in US coinage under Nixon (it ended in 1964 but dollars were not allowed to be redeemed for PM’s anymore). In 1980 Carter abolished the Assay Commission. This caused the US to sell some of it’s strategic silver stockpile on the open market. It’s also said they sold to help stabilize the silver market after being cornered by the Hunt brothers.
Bar and Rounds
If you notice on the bar you see a CC on the front. This stands for the Continental Coin Co. and not Carson City. They are the company who bought a good deal of the Silver Stockpile from the US. They then started stamping these 1oz, 10oz and 100oz rounds and bars. Wanting everyone to know where they got the silver from they proudly displayed that it was “MINTED FROM THE US STRATEGIC STOCKPILE” and many people thought it was a US mint porduct, but it is not.
I hope you liked my condensed history of the US Strategic stockpile along with a short history of this bar and round. Really cool history behind these pieces. The more you read about them, the more interesting it gets.
The company has been out of business for many years, but the coins are very common to find at coin shops. They had multiple variations of the feature or front of the coin but always has the US Strategic Stockpile stamp.
As always I hope you found this interesting and informative. If you have any questions feel free to ask in the comments.