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The Most Valuable Treasure Recovery? A Brief History

 
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bayerle



Joined: 10 Oct 2004
Posts: 2
Location: New York

PostPosted: Thu Oct 21, 2004 8:45 pm    Post subject: The Most Valuable Treasure Recovery? A Brief History Reply with quote

There have been more than a few statements that the SS Republic/Tennessee (1865) will be the largest recovery of all time, better than white bread.

There's a good deal of, to be polite, puffery in this business, but to give you some perspective, here are just a few noteworthy, true treasure ships:

- SS Egypt
Loss:
about 10-tons of silver and 5-tons of gold bars as well as a large amount of sovereigns! In 1922 a fortune estimated at 1,054,000
that's approximately $5 million when gold was $20/ounce, about $100 million today.

- SS Laurentic (WWI), 5 million pounds sterling, $25 million, when gold was $20/ounce, $500 million today.

- SS Niagara (WWII)
In June, 1940, when the 13,415-ton S.S. Niagara, on passage from New Zealand to Vancouver, hit a mine thirty miles from Whangarei she took with her to the bottom 2,500,000 worth of gold bars (8 tons) destined to pay for war material from the United States. The marine salvage men brought up from a record depth 2,360,000.
That's $12,500,000 when gold was $35/ounce, $142 million today.

- SS Edinburgh (WWII) - 5 tons of gold, $64 million today.

- SS Central America (1857) - $1.9 million, $20/ounce, that's $38 million in today's gold value. Coin value (as you know), would be higher, but is DIRECTLY comparable to SS Tennessee.

- SS Republic/Tennessee (1865)
$400,000 face value, $20/ounce, $8 million (coin values much higher)

- RMS Republic (OUR 1909 Republic, the BIG unknown)
$3 million eagles, $20 ounce, $60 million today (coin values much higher)
$265,000 Payroll, $20/ounce, $5.3 million (coin values much higher)
15 tons gold bars, " , $192 million
304 thousand troy ounces silver, $1.5 million
Relief Shipment, passenger valuables, unknown ...

Of course, nothing succeeds like success. RMS Republic's treasure is illusive ...
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