Market Manipulation - Silver Timeline

Hunt Brothers Silver Corner

Texas oil billionaires Nelson Bunker Hunt and William Herbert Hunt attempted to corner the silver market, accumulating over 100 million ounces. Combined with rampant inflation, silver prices skyrocketed from $6/oz in 1979 to an all-time high of $50.36/oz on January 18, 1980. The scheme collapsed on March 27, 1980 ("Silver Thursday") when COMEX margin requirements forced liquidation, causing prices to crash from $21 to $10.80 in a single day and bankrupting the Hunt brothers.