1 reply to this topic

[MKsnowangel]

A TREASURE trove of silver worth more $200 million is believed to have been found in the northern Atlantic Ocean after lying dormant for 70 years.



A US salvage company believes it has found the 218-tonne haul inside a former British merchant ship that was sunk by a Nazi German submarine 480km south-west of Ireland in 1941, reported


The ship, S.S. Gairsoppa, was traveling to Britain from India laden with the treasure when it was hit by a torpedo.
The company, Odyssey Marine Exploration, was contracted by the British government to find the wreckage and, earlier this month, it claimed to have found the ship. Odyssey is set to make an official announcement, the Times reported.

The recovery, which is planned for this spring, would be the deepest in history and make it the largest retrieval of sunken treasure.
"We were fortunate to find the shipwreck sitting upright, with the holds open and easily accessible," Odyssey CEO Greg Stemm told the paper.
"This should enable to us to unload cargo through the hatches, as would happen with a ship alongside a cargo terminal."
Odyssey would get 80 per cent of the treasure's value and the British Government 20 percent if the silver is recovered.


For more on this story, go to http://www.nytimes.c...smid=tw-nytimes

The New York Times.

Edited by MKsnowangel, 26 September 2011 - 15:11 .

[Coast]

I wonder what will happen to market values if they do recover a substitutional haul of silver?