Officials want better price for ‘windfall’ silver
Published: December 8,2011
OXFORD — The city of Oxford and Lafayette County will look for better prices on 42 bars of silver that were discovered this past summer in a safety deposit box.
Officials told the Oxford Eagle this week’s bids were too low.
The 42 bars of 100 ounces each and a couple of smaller pieces were found in a safety deposit box rented before the local hospital was leased to Baptist Memorial Health Care in 1989. Officials say the silver came from recycled x-rays.
The city and county agreed to sell the silver and split the proceeds.
The highest bid was $27 per ounce for the entire lot. There was one bid at $28 an ounce for 10 bars. The bids weren’t high enough for both boards.
“I don’t think I could vote for anything less than $28 an ounce for all of it,” Supervisor Johnny Morgan said.
Supervisor Mike Pickens said he wants to get $30 an ounce.
Mayor Pat Patterson and the board of aldermen also rejected the bids.
“I don’t think we want to approve anything less than $29 an ounce,” Patterson said.
One bid was accepted. Patty Simmons bid $250 for the 7-ounce bar, which is about $35 an ounce. Both boards accepted the bid for the one bar.
The two boards will advertise again for bids after the new year.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Host families prepare for Mississippi Braves’ season
- Ridgeland property rights tussle is expected to have wide impact
- JOSH MABUS — Mississippi’s Healthcare: Not a quality problem, a marketing problem
- HUNTER ARNOLD: Mississippi, Gulf Coast states focus on global business markets
- Mississippi takes an incentives licking, keeps on ticking
- Investors in Northbrook complex say Ridgeland targeting its own collateral for demolition
- AWAITING ITS FATE: Gables complex may have to shrink to meet law
- PHIL HARDWICK: When will Mississippi change its culture?
- Mississippi furniture makers on rebound with more exports