Salvors return to shipwreck|
More gold is being retrieved from the sunken wreckage of the S.S. Central America, a ship that sank in 1857 off the East Coast.
A new expedition is being led by Odyssey Marine Exploration, Inc., of Tampa, Fla.
The current effort will cost between $5 million and $10 million. The firm hopes its new finds will cover that plus add large profits besides.
So far the firm reports nearly 1,000 ounces of gold have been recovered.
An April 15 “dive and gold recovery confirms that the site has remained untouched since 1991,” a statement on the the firm’s website reported.
The possibility of more gold coins from the San Francisco Mint and its private mint predecessors entering numismatic channels is now a very real one.
The original treasure was disbursed in numismatic channels 14 years ago in a brilliant marketing campaign centered on calling the wreck the “Ship of Gold.”
Those coins and gold bars were worth an estimated $100 million to $150 million. They still bring big money and find eager new owners when they come up for sale at auction.
Leader of the original 1988 recovery effort was Tommy Thompson of Columbus-America Discovery Group. His firm is now bankrupt and Odyssey Marine Exploration, Inc., has been commissioned by the receiver to begin new recovery work on the wreck.
The S.S. Central America sank in a hurricane in 1857 while sailing to New York City with a rich cargo of gold from California.
One of the most exciting discoveries of the 1980s mission to locate and retrieve sunken treasure from the “S.S. Central America” was the remains of a wooden cargo box still filled with more than 100 double eagle gold coins displayed in Long Beach in 2010. (Photo by Donn Pearlman)
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• Build an impressive collection with Coin Collecting 101.
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On May 9, 2014 Pirate
On May 9, 2014 mateyyarrr
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