Officials want better price for ‘windfall’ silver

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Published: December 8,2011

Tags: county government, municipal government, silver

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.

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