Photo Credit: hrcpm
1970s 10 Ounce CMI USS Constitution Silver Bar
Buy It Now Price: $220 each (price as of 2019; item no longer available)
Pros:
-Each vintage 1970s USS Constitution silver bar contains 10 troy ounces of .999 fine silver and bears a logo depicting the famous U.S. Naval vessel.
-This USS Constitution silver bar has been extruded into a classic kit-kat shape. Struck and extruded silver bars were first produced in the 1970s as a response to overwhelming consumer demand for precious metal investments as a hedge against inflation. Extruded bars were faster and cheaper to produce than hand-poured bars. As a result, by the early 1980s poured silver bars were no longer commonly made.
-The USS Constitution, also known by the nickname Old Ironsides due to its stellar performance in the War of 1812, is a three-mast U.S. Navy frigate built from live oak. The ship was launched in 1797 and, after a gallant career, retired from active service in 1881. She is currently open to the public as a museum ship in Massachusetts’ Charlestown Naval Yard.
-The Constitution Mint Inc., or CMI for short, was a silver fabricator that operated out of Provo, Utah during the 1970s. It was known for producing 1 ounce silver rounds and extruded, kit-kat style silver bars in 10, 25, 50 and 100 troy ounce sizes.
-CMI silver bars are some of the more readily available vintage ingots in the marketplace today. They were produced in quantity during the 1970s and a fair number have escaped the melting pot over the past 40-odd years. This means they generally command modest premiums over the spot price of silver, making them a great choice for novice antique silver bar collectors.
-This USS Constitution silver bar comes in its original shrink-wrap plastic! The snug factory plastic has kept most of the bar shiny and bright over the decades, while allowing its unprotected ends to tarnish.
-Vintage ingots – like this USS Constitution silver bar – are an economical way to stack silver while also providing some numismatic investment exposure to the desirable antique silver bar market.
-Vintage poured and extruded silver bars are currently trading at some of their lowest premiums over spot in the last several years. With spot at around $17.50 an ounce right now, this USS Constitution silver bar is selling for a premium of only 25.7%. At an asking price of $220, this CMI silver bar is quite a bargain – with as low a premium as you could realistically hope to get.
Cons:
-If you’re really lucky, you might be able to pick up one of these wonderful old silver bars in your local coin store’s junk silver bin for only 50 cents or $1 over spot. Sadly, this is becoming a rarer and rarer occurrence as word gets out about the insatiable collector demand for these unique pieces.
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