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In 1980 an unsuccessful attempt by two of his sons, N. Bunker and W. Herbert, to corner the world silver market nearly resulted in the collapse of silver prices.
Today, most of the original mines are closed — brought down by revolution, silicosis and the collapse of silver prices — and it produces more poignancy than awe to pick silver-specked shards from mounds of slate-colored tailings, peer nearly 2,000 feet down the vertiginous shafts, hear the lumbering whine of old winches and gaze up at the once-busy pyramid-shaped ovens.
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The city also experienced a depression in 1893 after the crash of silver prices.
Take a look at a historical graph of silver prices.
The Texas connections led to Khalid's involvement with the Hunt brothers' attempt to corner the silver market, which collapsed along with silver prices in 1980.
After the collapse of the price of silver in 1893, most of the silver miners left, and the town gradually slid into a sort of coma that continued through the '30s.
Founded by prospectors c. 1878 and named for the local stands of aspen trees, it became a booming silver-mining town of 15,000 by 1887 but declined rapidly after silver prices collapsed in the early 1890s.
Silver prices started their collapse in early May, as did crude oil.
The collapse of oil prices has left a hole.
While the share price began high, it has dropped considerably following the collapse of commodity prices.
And hardly anyone is predicting a long-term collapse of oil prices.
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