World's richest treasure ship, with a cargo worth £100m, found in Atlantic

The Independent (U.K.) ^ | 08/18/03 | Danielle Demetriou

[Major_Risktaker]

Maybe Greg Stemm can find WMD's. To bad they can't keep all of the gold, they should.

[Major_Risktaker]

I must remind myself sometimes event are never what they appear to be after at few...Well he to the guy's who found the treasure. May they keep what they found.

[Freedom4US]

The article I read in todays newspaper said 20,000 $20 gold pieces, not 200,000. Makes a difference I guess.

[Freedom4US]

Yeah, I don't understand where they are coming from on this - SS Central America makes this haul look pretty minor. 20k coins equals seven million dollars worth at bullion prices, most of the "value" today is because of numismatic interest, not the intrinsic value of the gold.

[Freedom4US]

No, I think they gave bogus figures here. The dollar has lost a lot of its value relative to gold of course - but they were $20 gold pieces afaik, which were worth, well, $20.

Currently, they are worth (bullion that is) around $350 spot. The collector or numismatic premium can't be accounted into the relative inflation rate. Technically, they are worth a bit less than 350 spot since they weigh under an oz. and are 90 per cent gold w/ 10 per cent copper.

[WoofDog123]

"The article I read in todays newspaper said 20,000 $20 gold pieces, not 200,000. Makes a difference I guess.:"

That makes a lot more sense, since 200000 gold coins valued at only 400000 was clearly a wrong number. 20,000 double eagles fits exactly. Of course MELT value for these is only around 7 million bucks. I do not know where this 160Million number is being calculated from, I cannot imagine these coins are worth 8000 apiece, espeically given that they will be similar and will flood the market.