I don't believe I've encountered this piece before. I came across it while compiling this week's Numismatic Nuggets article. It's not a U.S. government product despite the large "U.S. ASSAY OFFICE" lettering. It's "minted from U.S. strategic stockpile silver formerly stored at U.S. Assay Office San Francisco." -Editor

I found two types listed on the Numista site. On type 2 the flag carried by the eagle waves in a different direction. -Editor

More online digging found references to a related 10oz bar. The Token Catalog has a little more information: "CC is the mint mark for Continental Coin Corp., the firm that actually made these silver rounds, and they may (or may not) have been in California.*** USA X #126 in the 2005 edition of "Unusual World Coins" by Michael & Cuhaj."

Interesting souvenirs of the early 1980s silver boom and bust. The silver was sold off from the Defense Logistics Agency's stock to drive down prices after the Hunt brothers tried to corner the silver market. -Editor