By NEMS Daily Journal
OXFORD – With advice from a precious metals consultant, the Oxford Board of Aldermen voted Tuesday to re-advertise for bids on the city’s share of a stash of silver found last year.
The city and Lafayette County jointly own 4,209 ounces of silver smelted from X-rays from 1989 and before, before the two entities leased their jointly owned hospital to Baptist Memorial Health Care Corp. of Memphis. The 44 metal bars – the smallest of which was sold late last year – were found in a safety deposit box rented by the hospital for many years.
Oxford and Lafayette County staged an auction in December to sell the surplus silver, but bids were several dollars per ounce below market value.
Aldermen voted to advertise a 120-day window for someone to buy the silver and agreed to invite Lafayette County officials to join the effort.