The Coinage Act of 1965
Remarks from President Lyndon B. Johnson

"Now, all of you know these changes are necessary for a very simple reason--silver is a scarce material. Our uses of silver are growing as our population and our economy grows. The hard fact is that silver consumption is now more than double new silver production each year. So, in the face of this worldwide shortage of silver, and our rapidly growing need for coins, the only really prudent course was to reduce our dependence upon silver for making our coins."

"If we had not done so, we would have risked chronic coin shortages in the very near future.

National Security Agency
U.S. Department of Defense
The NSA's Silver Recovery Program is created

"National Security Agency responded to U.S. silver shortage in the 1960s by starting the NSA Silver Recovery Program to reclaim silver from scrap and waste."

United States Treasury Department
Washington D.C.
Transfer of Silver to DLA's Strategic and Critical Stockpiles

The Treasury Department executed the transfer of 165,000,000 fine troy ounces of silver to the Strategic and Critical Stockpiles under the management of the Defense Logistics Agency (DLA). This transfer, mandated by the Strategic and Critical Materials Stockpiling Act, signifies a significant milestone in ensuring national preparedness and security. The silver, sourced from Treasury reserves, was meticulously allocated to bolster the nation's critical material reserves.

In compliance with the Act, which traces its origins back to legislation passed in 1939, the Treasury Department coordinated closely with the General Services Administration to facilitate the seamless transfer of resources. This move underscores the government's proactive approach to safeguarding essential materials vital for national defense and strategic purposes.

U.S. Geological Survey
Minerals Yearbook
The Salient Silver Statistics

"U.S. Defense Department stocks totaled 8.9 million ounces."

This marks the first instance of when the Bureau of Mines disclosed the silver stock numbers by the Department of Defense.

Naval Surface Warfare Center
Electrochemistry Branch

"The power source needs of the new "brilliant" weapons will have to be satisfied by new battery technology. In addition to the stricter requirements (energy density, etc.), many of the materials currently used in batteries (such as silver, zirconium, nickel, etc.) will have to be replaced in future batteries because critical shortages are predicted if current use patterns persist."

U.S. Geological Survey
Minerals Yearbook
The Salient Silver Statistics

This marks the last time the U.S. Geological Survey (Bureau of Mines) reports the silver stock numbers by the Department of Defense. In 1995 the DOD silver stock dwindled down to 13 metric tons and by 1996, the DOD silver stock was listed as "N/A" Not Avaiilable.

U.S. Geological Survey
Minerals Yearbook
The Salient Silver Statistics

This marks the last time the U.S. Geological Survey (Bureau of Mines) reports the number of silver ounces in the National Defense Stockpile. The National Defense Stockpile goes to zero. No reports on Defense silver stocks have been released since this report in 2002.

United States Senate
Congressional Record
Support of American Silver Eagle Bullion Program Act is introduced

"It is my hope that the Senate will move expeditiously to consider and pass this legislation before the stockpile is deleted."

The US Senate addressed concerns regarding the imminent depletion of the US Government's silver stockpile, as highlighted in the Congressional Record. Senators Crapo and Reid introduced the Support of American Silver Eagle Bullion Program Act in response to these concerns, aiming to preserve the American Silver Eagle Bullion Program.

PUBLIC LAW 107–201
107th Congress
Support of American Silver Eagle Bullion Program Act is passed

Congress finds that:

"(4) with the depletion of silver reserves in the Defense Logistic Agency’s Strategic and Critical Materials Stockpile, it is necessary for the Department of the Treasury to acquire silver from other sources in order to preserve the American Eagle Silver Bullion Program"

Selling Out the U.S.
Christopher Tappin arrested.

In 2005, U.S. Immigration and Customs Enforcement agents established a front company, Mercury Global Enterprises (MGE). A business acquaintance of Tappin contacted the company initially to buy surveillance equipment. They later enquired about exporting other military hardware without the proper licenses. Shortly before the man was arrested for trying to buy zinc/silver oxide batteries to power MIM-23 Hawk surface-to-air missiles for a customer in Tehran, Tappin was named as an exporter.

US federal authorities allege Tappin tried to buy 50 Eagle-Picher P/N GAP 4328 zinc/silver oxide batteries (National Stock Number: 1420-00-484-8556) between December 2005 and January 2007. The batteries, which were to be exported from the United States to Iran via the Netherlands, are part of the electronics of the Hawk surface-to-air missile. In November 1985, 18 Hawk missiles were shipped to Iran during the Reagan Administration. Tappin maintains as the exporter he thought he was buying car batteries. The US maintains that the batteries were to be exported to Tehran without the necessary US government approval.

United States Government Accountability Office
Report to Congressional Committees
DOD Electronic Waste

"According to Defense Logistics Agency (DLA) officials, requisitions for silver have increased since the end of fiscal year 2015 raising some concerns about the how long the program will be able to provide this precious metal."

Department of Defense
Fiscal Year 2022 Budget Estimates
NAVY Sonobuoy Procurement

"As of FY21 AN/SSQ-101B unit cost increases as a result of a silver shortage at the Defense Logistics Agency (DLA) Precious Metal Recovery Program. Historically, the program procured silver through DLA for the AN/SSQ-101B sonobuoy variant at $3.97 per troy ounce. In FY21, DLA's surplus was exhausted. Due to the silver scarcity, program is procuring silver at market rate $30 per troy ounce. Program is pursuing mitigation strategies with vendors to replace silver requirement with a lithium battery for incorporation into the buoy in FY24."

Department of Defense
Fiscal Year 2024 Budget Estimates
NAVY Submarine Acoustic Warfare System

"MK3 increased from 115 to 120, MK 3 SLEP qtys to 80, and no MK 4 qtys in FY 2022. Quantity increases for new and SLEP MK3 units are to mitigate the MK3 inventory shortages. Realignment was required to address MK 3 and MK4 inventory shortages. This impacts unit costs and also includes Government support (ISEA, TDA), Launch Tubes (salvage), containers (CNU 488), Silver, anodes, and contract service fees."

Analysis of budget data reveals efforts to alleviate shortages of Acoustic Device, Countermeasure (ADC) units within the Submarine Acoustic Warfare System, particularly the MK3 variants. NAVSEA updates underscore the significance of ongoing production and development activities for ADC units within the Submarine Acoustic Warfare System. Notably, silver is identified as among the costs impacted by these efforts, hinting at its crucial role in production or maintenance. The need for more ADC units due to shortages suggests increased demand for silver, a crucial component in their production within the Submarine Acoustic Warfare System. Efforts to address shortages imply an insufficient supply of silver, indicating a potential silver shortage in the supply chain of the Submarine Acoustic Warfare System.

EaglePicher reveals National Security of U.S.A. in jeopardy
Camie Platner blows the whistle on D.O.D. silver shortage

EaglePicher, the leading manufacturer of batteries crucial for missile and space applications admit to a significant supply shortage of silver within the United States. They disclose that acquiring silver from alternative sources has become notably difficult, due its diminishing availability.

Where did the silver come from that was mined for use in those batteries?

"We do have some local silver mines initially, yeah it wasn't as prevalent, but we did have some. Of course we had to outsource most of that, for quite awhile, but we do have some history, just wasn't as prevalent as the lead and the zinc. I'm being honest, I'm not sure all of the sources right now, but silver is very hard to come by right now, so it is very much a diminishing supply, so it is a growing concern, on how much longer that is going to be available. Sources are limited. I know, just in general we've had supply chain issues since the pandemic, we're still talking about it. People are really trying to ramp up production, but in getting that sourced has been pretty difficult in terms of any silver, so it's a diminishing resource that has to be looked at. But I don't know where else we got it to be specific."