It attracts high prices both because it is aged spirits, and because of its historical significance. Because of the wax seal the alcohol concentration is similar to when it was bottled. Some of this rum still pops up in premium auction houses. The barrelled rum was decanted into litre bottles and sold primarily to RN, RAF and Army messes and selected local pubs. It was found that over the years some of the contents in each wood barrel had evaporated, lowering the alcohol concentration somewhat. When the individual gallon jars were finally sold, the large wooden barrels were tapped. As each visiting Royal Navy ship visited Gibraltar, it was the task of Cornford and his general manager, John Kania, to supply individual, wax-dated, corked, wicker-covered demijohns containing full strength (approx 110 proof) to the ships. They were bought by Brian Cornford, shipped to Gibraltar and held in a secure bonded warehouse. Since then, this has been known in Royal Naval Slang as " Black Tot Day." The remaining rum stocks were put up for auction. The Royal Navy issued the last tot (ration) to "the fleet" on 31 July 1970. Thus the word came to connote "one hundred per cent Service," as in "pusser's issue." "Pusser's issue" applies to anything supplied by the Royal Navy, such as a "pusser's grip", a canvas bag that sailors may use instead of a suitcase (it folds flat and is thus easy to stow on board ship). "Pusser" is Royal Navy slang for a purser, a ship's supply officer, now called a Logistics Officer.
Nine years after the Royal Navy discontinued the daily rum ration in 1970, the company was founded to produce the rum from the original Royal Navy recipe, using a blend of five West Indian rums. Pusser's Rum is a brand name of rum produced by Pusser's Rum Ltd., based in the British Virgin Islands.
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