🔥AAO - Arizona Assay Office🔥

I enjoy discussing what is 'hot' in the vintage silver ingot market. The past few years the heat has really picked up for Arizona production based silver ingots. Collectors have been targeting the Western United States ingots for decades. BUT WHY NOW ARIZONA ?!

When it comes to Arizona related silver ingots. There is only one king of the hill. Arizona Assay Office Ingots! Also referred to as AAO. There is not a lot of documented information on this maker. However, the little known information is significant and can be seen below..

Arizona Assay Office ingots were reportedly produced for Paul Franklin by Jack Stone in 1969 out of his North First Street location in Phoenix, Arizona.

In November of 1969, he had just returned to the US and was getting back with his family. Whatever amount was made by Stone, he distributed as part of his new venture - the Arizona Silver Co.

AAO ingots were produced in varying fineness of .720, .900, .925, .963, .999 and .9995 purity. The .725 and .925 examples are similar to each other in casting size, but are distinctly different than the other examples. Additionally, the .995 and .999/.9995 examples were produced using two different casting molds. All of the assay reports we have completed show that AAO ingots are true to their purity stamps. Aside from silver, there are a few unique copper examples that were also produced.

The variety of weight classes of AAO ingots:

1oz, 3oz, 5oz ,10oz, and 20oz. Majority of the known ingots are in the 3oz and 5oz weight class. To my knowledge all examples are odd weight to the second decimal. On rare occasions there is a letter stamped before or after the serial number. The only noted letters this far are "B", "M", and "S". There is no information on what these letters represent.

At this time there are around 50 known Arizona Assay Office examples. Twelve of which demonstrate a single border ring hallmark stamp. As opposed to the more common double ring hallmark.


Single vs. Double ring hallmark

A comparison photo demonstrating the differences in mold size been the 3oz and 5oz class.

Unique mixed metal ingot(top). A possible prototype pure copper ingot(bottom).

.925 fine example. The reverse side demonstrates the fine total weight

It is always important to note recent auction sales. The ingot above featured on allengelhard.com had a hammer price of $3643.95. It is a very unique/rare horizontal example with outstanding patina. Recently, a more common 5oz class example serial no.1114 sold on 6/28/19 with a hammer price of $2001.00.

The recorded sales prices seen above demonstrate some of the highest premiums paid for silver ingots that are out of the same era. I can certainly see why! They have a direct connection to the infamous Paul Franklin. The ingots themselves are ALL unique to each other. The slight differences in variations is what draws in the collectors. The roughly 50 known AAO ingots is the result of logging serial numbers from over a decade of known private and auction sales. A very slim inventory tends to yield a strong demand!

References used for this article:

allengelhard.com/arizona-assay-office/ see for more details
John J. Ford Jr and The Franklin Hoard by Karl Moulton

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