Seven to ten million dollars in bullion, before expenses.
17 tons * 32000 ounces * $13 per ounce => $7,000,000 and change. Assume the gold is one or two million.
More if they can sell to collectors with a premium but then their marketing costs will expand. The more they market, the less rare it is.
freaky looking volume pattern for announcement day.........if I sold short, I’d be thinking seriously about shorting this one, and spend the weekend trying to learn how much gold is with it......all of those buckets were NOT full of coins, they were mostly empty, if you noticed them being moved by hand and even the pallets-full-of-buckets on that teeny little hi-lo couldn’t have been full of silver.....
I heard this story mentioned on TV this afternoon. They said the find could be worth $500 million.
the melt value is immaterial. What is material is the value established by other recoveries like the Republic or the Atocha. Collectors pay a premium over numismatic value.
They expect to get several hundred dollars per coin, above and beyond any bullion value as they are colonial era coins.
Some will probably exceed 1k individually. The group also has plans to sell them in dribs and drabs so as not to tank the market for these type of coins.