Hudson Street in Tribeca, with its exchange Commodity Exchange (COMEX) in New York City, 1994 by merging four existing New York exchanges. It was not built as a physical mint, but rather as a
The Commodity Exchange (COMEX) in New York City, a major venue for silver trading, was founded in 1933 by merging four existing New York exchanges. It was not built as a physical mint, but rather as an exchange for futures and options trading. It was located on Hudson Street in Tribeca, with its exchange operations later moving to Battery Park City in 1994. Hudson Street in Tribeca, with its exchange operations later moving to Battery Park City in 1994
Founded: 1933
Merger: Formed by merging the National Metal Exchange, Rubber Exchange of New York, National Raw Silk Exchange, and New York Hide Exchange.
Headquarters/Location: Historically located at 4 World Trade Center, and later moved to One North End Avenue.
Status: Now part of the CME Group
Vaulted bullion
In the days following the destruction of the towers, rescuers found scorch marks, likely made by a cutting torch on a basement doorway underneath 4 WTC; this was thought to be the result of looters. Further exploration of the building's basement revealed that the vault contained large amounts of gold and silver in the form of coins, as well as gold and silver bars.[50] An armored truck operated by COMEX was also located below the World Trade Center among the other vehicles, which was fully loaded with gold and silver bars. In order to retrieve the bullion from the vault, electricity had to be supplied to its doors, which had withstood the force of the destruction above them.[51]
Over the subsequent months, much of the bullion was recovered. Approximately 560,000 dollars' worth of coins and bars were stored in the vault by the Bank of Nova Scotia prior to September 11, 2001, with the bank having stored a total of 379,036 troy ounces of gold and 29,942,619 troy ounces of silver inside the vault.[52] Many of these coins were purchased by Lee S. Minshull of Palos Verdes, California, who then sent them to PCGS for grading in 2002.[53] These coins were then sold to collectors. Coins salvaged from 4 WTC's vault included American Silver Eagles,[54] Canadian Gold Maple Leafs, South African Krugerrands and British Gold Britannias.
The Commodity Exchange (COMEX) in New York City, a major venue for silver trading, was founded in 1933 by merging four existing New York exchanges. It was not built as a physical mint, but rather as an exchange for futures and options trading. It was located on Hudson Street in Tribeca, with its exchange operations later moving to Battery Park City in 1994. Hudson Street in Tribeca, with its exchange operations later moving to Battery Park City in 1994
Founded: 1933
Merger: Formed by merging the National Metal Exchange, Rubber Exchange of New York, National Raw Silk Exchange, and New York Hide Exchange.
Headquarters/Location: Historically located at 4 World Trade Center, and later moved to One North End Avenue.
Status: Now part of the CME Group
Vaulted bullion
In the days following the destruction of the towers, rescuers found scorch marks, likely made by a cutting torch on a basement doorway underneath 4 WTC; this was thought to be the result of looters. Further exploration of the building's basement revealed that the vault contained large amounts of gold and silver in the form of coins, as well as gold and silver bars.[50] An armored truck operated by COMEX was also located below the World Trade Center among the other vehicles, which was fully loaded with gold and silver bars. In order to retrieve the bullion from the vault, electricity had to be supplied to its doors, which had withstood the force of the destruction above them.[51]
Over the subsequent months, much of the bullion was recovered. Approximately 560,000 dollars' worth of coins and bars were stored in the vault by the Bank of Nova Scotia prior to September 11, 2001, with the bank having stored a total of 379,036 troy ounces of gold and 29,942,619 troy ounces of silver inside the vault.[52] Many of these coins were purchased by Lee S. Minshull of Palos Verdes, California, who then sent them to PCGS for grading in 2002.[53] These coins were then sold to collectors. Coins salvaged from 4 WTC's vault included American Silver Eagles,[54] Canadian Gold Maple Leafs, South African Krugerrands and British Gold Britannias.