New Hope Gold & Silver was based out of New Hope, PA in the 1970’s. During the Hunt Brothers’ effort to corner the silver market, the owners got caught up in a major ponzi scam. Essentially, they were taking customer’s cash and “holding” physical silver on their behalf. However, they didn’t actually have the physical silver to back the deposits (similar to Dugan & Helterbrand). Thank you to Mark H. for the hallmark image!
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