Approved for Release: 2017 /01 /25 C05096186 

1111111111111111111111111111111111111111111111111111111 14 000782070 

l April 1966 

MEMORANDUM FOR RECORD 

SUBJECT: Request for Platinum 

We received two calls from a Mr. Russell Richards, GSA, 

regarding our request for platinum. I was able to call GSA back at 

HAl..ct\) 1715 hours and talked with Mr. Jameson (in 1VIro Richard's absence) 

' on the GSA calls. Mr. Jameson indicated that they had been studying the request of our l\1arch 28 letter, but, unfortunately, were not 

able to satisfy either of our requirements -- the one for platinum or 

the one for rhodium. Mr. Jameson indicated that there appeared a 

good possibility for us to satisfy our requirement for platinun1 by 

contacting the Bureau of the l\1:int since he had just a few days ago 

received a "Declaration to the Stockpile 11 from the Mint on 4500 troy 

ounces of r·efined platinum (in bars or shot). Mr. Jameson suggested 

that I contact immediately Mr. Roger Reed in the Bureau of the Mint 

and attempt to arrange an inter-agency transfer of that surplus 

platinum which he indicated GSA planned to turn down as excess to 

the stockpile since GSA had already placed platinum on the surplus 

list and planned to offer some 316, 000 ounces from the stockpile for 

sale early next week" 

Mr. Jameson explained as regards our request for rhodium 

that he was in an even less favorable position to satisfy our requirement since they had available only 378 ounces total vs our require -

ment for 1278 troy ounces of rhodium. 

On l April, I called ML Roger Reed at the Mint, explained our 

problem and related Mr. Jameson 1s suggestion. Mr. Reed imme diatl 

contacted Mr. G. C. Wiggen who had been handling this particular 

Declaration for the Mint and put him on the telephone, Mr. Wiggen 

explained that, since they had prepared the 11Declaration to the Stock-

. pile 11 on the 4500 troy ounces of platinum, he was riot sure whether fh~ 

Mint could now negotiate with us on the transfer, or whether we woulC 

have to deal with GSA since the Declaration had officially been made 

to GSA. Mr. Wiggen suggested that I check this deal with GSA before 

proceeding further. 

Approved for Release: 2017 /01 /25 C05096186 
Approved for Release: 2017 /01 /25 C05096186 

I then called Mr. Jameson and related to him my discussion 

with Mr. 'Wiggen and asked if it would not be appropriate for us to 

deal with GSA since they did, in fact, receive the Declaration from 

the Mint. Mr. Jameson explained that, although they had received 

the Declaration, they had, in fact, decided officially to turn down 

this Declaration as excess to the stockpile and that it would automatically revert to the l\1int for their disposition. I then suggested 

to Mr. Jameson the possibility of his interceding on our behalf and 

arranging this transfer in light of the current status of the Declaratioi 

Mr. Jameson declined, saying that they would now have to continue 

to process the "turn downll and while he would be happy to help us, 

he was sorry that this action had already been initiated. 

I thanked J'viro Jameson for his help and called Mro Wiggen 

once again indicating that GSA could not arrange the trans fer and 

would definitely be turning down the Declaration as excess to the 

stockpile. I mentioned to Mr. Wiggen that Mr. Jameson indicated 

that the platinum would automatically revert to Ivlint ownership. I 

then suggested to Mr. Wiggen that I approach the l\/Iint with our 

request to discuss arrangements for an interagency transfer between 

the Mint and us. J\/Ir. Wiggen felt that there was a good possibility 

for such a transfer and advised that we prepare such a request to the: 

Director of the Mint 

Treasury Department 

Washington, D. C. 

') 

W. R. [ OST 

Majori SAF 

v 

Approved for Release: 2017 /01 /25 C05096186 
OFFIC.E OF THE SECRETARY 

Approved for Release: 2017 /01 /25 C05096186 

DEPARTMENT OF THE AIR FORCE 

WASHINGTON 

4 April 1966 

MEMORANDUM FOR GENERAL STEWART 

SUBJECT: Request for Platinum 

llllllllllllllllilllllllllllllll 111111111111 14000 

The attached MFR relates the latest activity on the request 

for platinum. 

As noted in the last paragraph, we are now at the point of 

attempting to arrange an interagency transfer of a quantity of platinum which has just been declared to the stockpile by the Bureau of 

the MinL This possibility was suggested by GSA in light of the 

present "excess to the stockpile 11 situation. 

Attached at Tab B is a proposed letter to the Director of the 

l\/l:int which attempts to arrange for the necessary discussions. 

Recomrnendation: That you sign the letter at Tab B. 

Approved for Release: 2017 /01 /25 C05096186 
Approved for Release: 2017 /01 /25 C05096186 l_' 

11111111111111111111111111111111111111111111111111111111 14 000781980 

GENERAL SERVICES ADMINISTRATION 

Lto Colonel William Yost 

Office of Space Systems 

Property Management and Disposal Servit 

Washington, D.C. 204( 

IN REPLY REFER TO: DDSMM 

Office of the Secretary of the Air Force 

The Pentagon 

Washington, DoCo 20330 

Dear Colonel Yost: 

General Services Administration entered into an agreement with the Office 1 

Space Systems, signed by General James T., Stewart, US.AF on September 3, 19t 

whereby 2,202.334 troy ounces of platinum were placed in the custody of th1 

Department of the Air Force., This is to advise you that GSA is making plai 

to recall the platinum presently in the custody of the Department., 

After a recent revision of the stockpile objective :for platinum, the Offic1 

of Emergency Planning issued. a d.irecti ve to GSA that all platinum held by 

other Government agencies under special custody agreements was to be consi1 

as part of the excess to the objective., Proposed legislation has been 

introduced into the Congress to authorize the release of all excess platini 

from the stockpile., When authorization of disposal is received, we shall 1 

obliged to terminate the existing custodial agreements and. either to trans: 

the platinum to the custod.ial agency or to recall it for sale to ind.ustry .. 

If the Office of Space Systems has a continuing requirement for the 2,202.: 

troy ounces of platinum, we suggest you request a transfer of that materia: 

to your agency on an interagency transfer agreement when d.isposal is autho: 

Your agency would be invoiced. at the published producers t price per troy oc 

L,o.,b. the present storage location, in effect on the date of transfer of -

If you wish, a commercial type of invoice may be utilized which would. perm: 

your contractors t.o submit payment to GSA on what.ever ar::rangement- with thei 

that you might d.esire .. 

An early reply expressing your wish in this matter will be appreciated.. I: 

you require further information, please do not hesitate to call upon us., 

Sincerely 

~:.-. 

son 

oject Manager, 

Industry Materials Div sion 

Strategic and. Critical Materials Di 

Approved for Release: 2017 /01 /25 C05096186 
( 

Approved for Release: 2017 /01 /25 C05096186 

·1111111111111111111111111111111111111111111111111111111111m111 14 000781B6D. 

27 April 1967 

Memo to: LtColonel William R. Yost 

Subject: Reimbursement For Platinum On Loan From GSA 

1. Heference your memo of 25 April 1967 on subject loan and. GSA 

letter on same subject dated 21 April 1967. 

2. This area has been researched by this office and it appears the 

only practical course of action is to have your of'fice request a 

transfer of the platinum to the Air Force on an interagency transfer 

agree" nt when di sal is authorized by Congress • 

• SLENTZ, 

Director for Pro 

Approved for Release: 2017 /01 /25 C05096186 
· 1111111111111111111111 

/; " ' 

; ,-<. 

' ", ,,, -

. I 

· I .. ,,,1'\.t.l·'"t. 

0 

!

. . ... ,,. .· ,/ ··'. ' ,I . c.. ... - --· i 

v. 

\ 

"_......,· fl?i""'t:::'{:C:t;:z~-:-) ;' / I 0 ,,. 

. - /"'LI, 

I VC; 

Approved for Release: 2017 /01 /25 C05096186