Nearly 1,000 Oz. Of Gold Recovered From 1857 Shipwreck

[psycopk]

Odyssey Marine Exploration

Odyssey Marine Exploration Inc.  OMEX +1.28% said Monday that it recovered nearly 1,000 ounces gold from its first reconnaissance dive to the SS Central America shipwreck site last month, which shipwreck hunter refers to as one of the largest documented cargoes of gold ever lost at sea.

The five gold ingots weighing a total of nearly 1,000 ounces were recovered. Just based on weight, at today’s prices  GCM4 -0.14% of around $1,309 on Comex, they’d be worth roughly $1.3 million. Two $20 Double Eagle coins were also found.

According to an article from Bloomberg, Odyssey has said that based on certain assumptions, including that the remaining items are in the form of Double Eagle coins, there may still be $86 million of gold at the site.

The SS Central America was a sidewheel steamship that got caught in a hurricane and sank on Sept. 12, 1857, off the South Carolina coast. The 477 passengers were mostly miners and businessman returning east from California with personal possessions and fortunes in gold accumulated after years of prospecting during the Gold Rush. The shipwreck was first discovered in 1988.

Experts estimate the shipwreck still holds a commercial shipment of gold that was valued at about $93,000 in 1857 and that a substantial amount of passenger gold remains, with an 1857 value of between $250,000 and $1.28 million.

Shares of Odyssey Marine Exploration climbed 5.2% to $2.22 on Monday afternoon.

[riashli]

:3D_Smiles: 

[joblessjack]

gold rate effect avthadaaa 

[BillMarkSteve]

1,000 oz * 28.3495 = 28349.5 grams = 28.3495 KGS.....

 

1,000 oz * $1500 = $15,00,000

 

Vammo...emanna GOLD aa...