SILVERTOWNE L.P.

ALL ENGELHARD is pleased to welcome visitors to our SilverTowne L.P. Definitive Page.  While our focus is clearly Engelhard, we recognize that many Engelhard bullion collectors also collect other bars and ingots. As such, we appreciate the opportunity to present important bullion information and look forward to your thoughts and input. SilverTowne LP was founded in 1949 by Leon Hendrickson, and grew from a small coin shop to become one of the largest retail bullion and precious metals dealers in the country. What most folks don’t realize, however, is that SilverTowne produced a very limited and relatively short-lived run of poured silver ingots beginning in 1973, mostly serialized, that are just now gaining attention in the collector world. Based on our extensive serial number database, we have conclusive evidence that SilverTowne used a single serial number run that was shared by all ingot sizes without duplication, with a total of only approximately 75,000 ingots produced nearly 50 years ago. Without doubt, a high percentage of these ingots have been melted over the years. Please note that the serial ranges below are shared between multiple sizes of ingots, so actual mintage numbers will be less than the span of the range, and to be sure, many did not survive the great melts so actual surviving examples are likely far less. Today, SilverTowne Mint produces what we call “retro” ingots in 5oz, 10oz, and kilo weight class that in many ways resemble the vintage ingots shown below, but without serial numbers.  We often field inquiries from collectors regarding these newer examples, as they often confuse them with vintage pieces. The giveaways to us are the newly poured complexion, cooling bubbles and uncharacteristic surface texture compared to vintage ingots, and the lack of a serial number.  Examples can be found on the SilverTowne.com website and often on Ebay.    

EXAMPLE	OBVERSE	REVERSE	COMMENTARY	SAMPLE SERIAL NUMBERS	ESTIMATED MINTAGE
	[SilverTowne Hallmark] [5 OZ.] [.999 FINE]	[Serial Number Assignment]	1st series 5oz class ingot produced by SilverTowne.  Ingots of early serial number assignment demonstrate a plain reverse while ingot 10068 demonstrates a lined reverse.  The serial number assignments for these 1st series ingots were random throughout the range.  This 1st series ingot measures approximately 52.39mm x 19.05mm.  Size differences between all three series are demonstrated in the photo below, with 1st series being decidedly more wide than the others.	00050 00068 01369 08473 10068	<100
	[Inadvertent Serial Assignment]  [SilverTowne Hallmark] [5 OZ.] [.999 FINE]	[Inverted Serial Number Assignment]	1st series 5oz class ingot produced by SilverTowne.  This example is an ultimate example of error bars in that the obverse hallmark was stamped over an inadvertently applied ‘13296’ serial number assignment, then struck with an inverted ‘13297’ serial number assignment on the reverse.	13297	1
	[SilverTowne Hallmark] [5 OZ.] [.999 FINE]	[Serial Number Assignment]	2nd series 5oz class ingot produced by SilverTowne.  These ingots were produced in both lined-reverse and flat-reverse throughout the serial number range, both pictured.  This 2nd series ingot measures slightly narrower than the 1st series, at approximately 49.21mm x 19.05mm.  SilverTowne used many slightly different casting moulds and cooling trays in their production of these ingots.  In an All Engelhard case study of 100 2nd series ingots, we found 30 examples with inverted serial numbers of random serial range assignment.  This suggests the inverted serial assignment was perhaps a production oversight, though not terribly uncommon.  Mintage estimate on these inverted serial number examples is <2,250 of the total <7,500 produced.It is rumored that three [3] 5oz class ingots were erroneously stamped with serial number on the obverse, while the hallmark, weight class and purity stamps were placed on the reverse.  This is demonstrated in the photo of ingot 00052, below.  Ingot 04813 has also been documented to show this reverse stamping anomaly.  It is also rumored that a few 10oz class ingots were stamped in similar variation, though we have not yet observed such an example.	00001 00052 00245 00547 01896 03689 04813 06340 08826 10494 12731 14847 17516	<7,500
	[SilverTowne Hallmark] [5 OZ.] [.999 FINE]	Cast Finish	2nd series 5oz class ingot produced by SilverTowne in serial absent variation.  We have been informed by a collector that perhaps 15 of these ingots were reportedly produced.  To date, we have documented five examples.  Please note these examples are not to be confused with SilverTowne’s current production 5oz Serial Absent ingots that are referenced in the above introductory narrative.	Serial Absent	<15
	[SilverTowne Hallmark] [5 OZ.] [.999 FINE]	[Serial Number Assignment]	3rd series 5oz ingot produced by SilverTowne.  Demonstrates a plain reverse with serial number assignment and is the most narrow of all three series.  Estimated serial run of 18000-29999 with a 4,000+ gap of unassigned serial numbers between the approiximate range of 24403 to 28405.	18312 19718 21531 22761 23025 24264 24403 28405 28752	<5,000
	[SilverTowne Hallmark] [5 OZ.] [.999 FINE]	Cast Finish	3rd series 5oz ingot produced by SilverTowne.  Similar to our above example though lacks a serial number assignment.	Serial Absent	<25
	[SilverTowne Hallmark] [Serial Number] [10 OZ.] [.999 FINE]	Cast Finish	1st series 10oz class ingot produced by SilverTowne.  Demonstrates a waffle pattern reverse, which varied throughout the production run.  Estimated serial run of 00001-65999.  Ingot 36275 in photo shows stampings on reverse of bar.  This error has been noted in several examples to date. Our serial number database has revealed one pair of 10oz ingots with identical 04138 serial number assignment, pictured below.	00005 00069 00873 01426 01584 03587 04138 05259 06089 07571 09693 11661 13079 15390 18420 23218 34945 46952 55316 55287 60971 65010 65846	<50,000
	[SilverTowne Hallmark] [10 OZ.] [.999 FINE]	[Serial Number]	1st series 10oz class ingot produced by SilverTowne. Similar to our examples above, though demonstrates serial number assignment stamping on the reverse of the ingot.	04511	<5
	[SilverTowne Hallmark] [10 OZ.] [.999 FINE]	Cast Finish	2nd series 10oz class ingot produced by Jackson Precious Metals for SilverTowne.  Serial absent variety and demonstrates a plain reverse.	Serial Absent	<10,000
	[SilverTowne Hallmark] [50 OZ] [Serial Number] [999 FINE]	Cast Finish	1st series 50oz class ingot produced by SilverTowne.  Demonstrates a plain reverse and a larger format mould than our 2nd series listed below.	Serial Absent	<250
	[SilverTowne Hallmark] [50 OZ.] [SERIAL NUMBER] [.999 FINE]	Cast Finish	2nd series 50oz class ingot produced by SilverTowne.  Demonstrates a waffle pattern reverse.  Estimated serial run of 00001-05000.	00072 00115 00146 00346 00427 00984 01570 01750 02864 03048 04605 04930	<1,000
	Mid SilverTowne Hallmark	[Custom ‘SilverTowne’ Hallmark]  [100 oz.] .999 FS.]	1st series 100oz class ingot produced by SilverTowne.  These are believed to be newer “retro” bars produced by Silvertown in the early 2000’s.  The FS (Fine Silver) stamp was standard with the newer evolution bar. Earliest known variety,  observed in serial absent variation.	Serial Absent	<100
	[SilverTowne Hallmark] [100 OZ] [Serial Number] [999 FINE]	Cast Finish	100oz class ingot produced by SilverTowne.	02687 07458 09320 10730 13455 18544 23427 27325 28146 55757	<1,000
	Mid Hallmark	[99.9+ FINE SILVER]  [Custom ‘SilverTowne’ Hallmark]  [100 TR. OZ.]  [Serial Number]	100oz class SilverTowne ingot produced by Engelhard.  It is of interest to note the casting mould of this variety is identical to the Engelhard 4th series ‘P’ example as demonstrated in the photos presented below.  Bar P000285 sold via eBay auction for $3,250.00 on March 19, 2016.  Bar P000351 sold privately on January 9, 2017 for $3,750.00.	P000219 P000285 P000321 P000351	<50