Posted on 05/18/2007 7:23:38 AM PDT by Red Badger
TAMPA, Florida (AP) -- Deep-sea explorers said Friday they have mined what could be the richest shipwreck treasure in history, bringing home 17 tons of colonial-era silver and gold coins from an undisclosed site in the Atlantic Ocean.
Estimated value: $500 million.
A jet chartered by Tampa-based Odyssey Marine Exploration landed in the United States recently with hundreds of plastic containers brimming with coins raised from the ocean floor, Odyssey co-chairman Greg Stemm said. The more than 500,000 pieces are expected to fetch an average of $1,000 each from collectors and investors.
"For this colonial era, I think (the find) is unprecedented," said rare coin expert Nick Bruyer, who examined a batch of coins from the wreck. "I don't know of anything equal or comparable to it."
Citing security concerns, the company declined to release any details about the ship or the wreck site Friday. Stemm said a formal announcement will come later, but court records indicate the coins might come from a 400-year-old ship found off England.
Because the shipwreck was found in a lane where many colonial-era vessels went down, there is still some uncertainty about its nationality, size and age, Stemm said, although evidence points to a specific known shipwreck. The site is beyond the territorial waters or legal jurisdiction of any country, he said.
(Excerpt) Read more at cnn.com ...
I found a dollar once.
I lost a dollar once...
You should see the video of them unloading literally PALLETS full of buckets of these coins. Just amazing.
Arrrr, matey.
}:-)4
Ping!
ARRR! That be a lot of booty, mateys.
I ate a dollar once.
George W. Bush wants it all handed over to the U.N., post haste.
I still go to the beach with my metal detector. Hopefully one day...........
In the immortal words of the late Mel Fisher: “Today’s the day!”
Well then, in that case,
Thank You
After the gubmint gets their cut, how much will they have left?
More than I could make for the rest of my life...........
Odyssey Marine Exploration (OMR)
7.04 +2.44 (+53.04%)
The wreck was discovered in international waters, so no governments can claim jurisdiction over the bounty.
However, the parties involved will still have to declare the proceeds as income.
Surrender the booty!
I really doubt that they will bet $1,000 apiece when they flood the market with 500,000 pieces. I doubt there are 500,000 serious collectors willing and able to fork over that much. If “supply and demand” mean anything, this will drop prices.
All tax men all over the world are gnashing their teeth! Ha!
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