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International Vaults Refining had a short run of operation between 1978 – 1981 before declaring bankruptcy in 1982. The founders ended up being indicted for fraud! With such a short run of silver production, these bars are going to continue to increase in value over time!
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International Vaults Refining: International Vaults was founded by Gary Wayne Anderson and his wife Georgie in 1978 as a gold and diamond trading firm. The firm went into bankruptcy in 1981 when it couldn’t pay dividends to investors. The Andersons and business associate Leslie Thomas Robinson the Vice-president of Bullion Traders were all indicated in September 1982 on 15 counts involving mail fraud and securities violations.
International Vaults would attract investors by promise of buying gold directly from Alaskan mines, then refine it and sell it at profit. Another person involved with International Vaults was Gerald Lee Eastman of Utah. Eastman was accused of providing cash from International Vaults to make surreptitious gold purchases in a remote area of Imperial County. They defrauded 900 Northern California investors out of $8 Million.
CREDIT: Research and content provided by Chris Fleming
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