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Salvors return to shipwreck
May 08, 2014

This article was originally printed in Numismatic News.
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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 said
From Meson Capital?s March report that fully and without question debunked the SS Central America:
After extensive analysis of the SS Central America and the seeded claims of a secret Army gold cache, I conclusively know that no secret cache exists.
1. I spoke with credible deep sea archaeology experts directly involved with the SS Central America case for over two decades and they universally dismissed the notion of a secret Army cache.
2. Tommy Thompson?s best friend and expedition ship mate stated without question: there was never a secret army treasure on board.
3. Multiple Judges and official court documents conclusively dismiss the possibility of a secret cache.
4. Direct source materials from 1857 we obtained also clearly prove there is no secret Army cache.
5. SS Central America estate?s own internal expert analysts show the SS Central America has no Army cache.
6. Eyewitness direct quotes from 1857 of Captain Herndon of SS Central America also clearly demonstrate there is no Army cache.
7. SS Central America tried to both raise their own money to excavate this treasure with their own crew directly experienced on the site and were not successful. They also explored selling the project outright with no success as well.
8. Even if there was anything of value left below, it would have been long ago stolen by other salvors the SS Central America estate knows have been going after the treasure while their insolvency has left the site defenseless and without oversight for over 5 years.
9. Even if an army gold cache existed, it would lead to a repeat of the ?Black Swan? fiasco as there is no statute of limitations on government property under maritime law and the shipment would be forfeit like in the ?Black Swan? case.
On May 9, 2014 mateyyarrr said
"Want to learn more about Odyssey Marine Exploration?"

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