Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Shipwreck yields historic riches -- $500M worth
AP via cnn.com ^ | 05/18/2007 | Staff

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 ...


TOPICS: Business/Economy; News/Current Events; United Kingdom
KEYWORDS: godsgravesglyphs; wreck
Navigation: use the links below to view more comments.
first 1-5051-60 next last
That's a lot of booty........just in time for Pirates of the Carribean III....
1 posted on 05/18/2007 7:23:40 AM PDT by Red Badger
[ Post Reply | Private Reply | View Replies]

To: Red Badger

I found a dollar once.


2 posted on 05/18/2007 7:28:03 AM PDT by HEY4QDEMS (Sarchasm: The gulf between the author of sarcastic wit and the person who doesn't get it.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: HEY4QDEMS

I lost a dollar once...


3 posted on 05/18/2007 7:29:20 AM PDT by P-40 (Al Qaeda was working in Iraq. They were just undocumented.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Red Badger

You should see the video of them unloading literally PALLETS full of buckets of these coins. Just amazing.


4 posted on 05/18/2007 7:29:45 AM PDT by Constitution Day
[ Post Reply | Private Reply | To 1 | View Replies]

To: Red Badger

Arrrr, matey.

}:-)4


5 posted on 05/18/2007 7:29:49 AM PDT by Moose4 (Deport 'em. I don't need landscaping and I'll pay more for lettuce.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SunkenCiv

Ping!


6 posted on 05/18/2007 7:30:27 AM PDT by NYer ("Where the bishop is present, there is the Catholic Church" - Ignatius of Antioch)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Tijeras_Slim; martin_fierro
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...

ARRR! That be a lot of booty, mateys.

7 posted on 05/18/2007 7:31:00 AM PDT by Constitution Day
[ Post Reply | Private Reply | To 1 | View Replies]

To: P-40

I ate a dollar once.


8 posted on 05/18/2007 7:32:12 AM PDT by Clint N. Suhks ( FREE DARFUR)
[ Post Reply | Private Reply | To 3 | View Replies]

To: Red Badger
The site is beyond the territorial waters or legal jurisdiction of any country

George W. Bush wants it all handed over to the U.N., post haste.

9 posted on 05/18/2007 7:32:21 AM PDT by EternalVigilance (Since yesterday morning the manpower for another army division has crossed the southern border)
[ Post Reply | Private Reply | To 1 | View Replies]

To: HEY4QDEMS

I still go to the beach with my metal detector. Hopefully one day...........


10 posted on 05/18/2007 7:32:43 AM PDT by Red Badger (My gerund got caught in my diphthong, and now I have a dangling participle...............)
[ Post Reply | Private Reply | To 2 | View Replies]

To: All

In the immortal words of the late Mel Fisher: “Today’s the day!”


11 posted on 05/18/2007 7:34:14 AM PDT by abb (The Dinosaur Media: A One-Way Medium in a Two-Way World)
[ Post Reply | Private Reply | To 10 | View Replies]

To: P-40

Well then, in that case,

Thank You


12 posted on 05/18/2007 7:34:20 AM PDT by HEY4QDEMS (Sarchasm: The gulf between the author of sarcastic wit and the person who doesn't get it.)
[ Post Reply | Private Reply | To 3 | View Replies]

To: Red Badger

After the gubmint gets their cut, how much will they have left?


13 posted on 05/18/2007 7:34:41 AM PDT by dfwgator (The University of Florida - Still Championship U)
[ Post Reply | Private Reply | To 1 | View Replies]

To: dfwgator

More than I could make for the rest of my life...........


14 posted on 05/18/2007 7:36:33 AM PDT by Red Badger (My gerund got caught in my diphthong, and now I have a dangling participle...............)
[ Post Reply | Private Reply | To 13 | View Replies]

To: Red Badger

Odyssey Marine Exploration (OMR)

7.04 +2.44 (+53.04%)


15 posted on 05/18/2007 7:36:44 AM PDT by Slicksadick (Go out on a limb........Its where the fruit is.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: dfwgator

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.


16 posted on 05/18/2007 7:42:21 AM PDT by HEY4QDEMS (Sarchasm: The gulf between the author of sarcastic wit and the person who doesn't get it.)
[ Post Reply | Private Reply | To 13 | View Replies]

To: Constitution Day; Tijeras_Slim; martin_fierro

Surrender the booty!


17 posted on 05/18/2007 7:43:52 AM PDT by stainlessbanner
[ Post Reply | Private Reply | To 7 | View Replies]

To: Red Badger

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.


18 posted on 05/18/2007 7:44:13 AM PDT by jim_trent
[ Post Reply | Private Reply | To 1 | View Replies]

To: Clint N. Suhks
I ate a dollar once.

Lemmi guess... A couple days later you had "money coming out the wahzoo"
19 posted on 05/18/2007 7:48:31 AM PDT by HEY4QDEMS (Sarchasm: The gulf between the author of sarcastic wit and the person who doesn't get it.)
[ Post Reply | Private Reply | To 8 | View Replies]

To: Red Badger

All tax men all over the world are gnashing their teeth! Ha!


20 posted on 05/18/2007 7:51:24 AM PDT by Sunshine Sister
[ Post Reply | Private Reply | To 1 | View Replies]

To: Red Badger

Wow that is pretty awesome.


21 posted on 05/18/2007 8:00:07 AM PDT by rjp2005 (Lord have mercy on us)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Constitution Day

22 posted on 05/18/2007 8:01:48 AM PDT by Bommer (Global Warming: The only warming phenomena that occurs in the Summer and ends in the Winter!)
[ Post Reply | Private Reply | To 4 | View Replies]

To: Bommer

Remarkable, isn’t it?


23 posted on 05/18/2007 8:03:35 AM PDT by Constitution Day
[ Post Reply | Private Reply | To 22 | View Replies]

To: rjp2005

They have to be careful what they say. Once you find a treasure, everyone else, from the local state, to the feds, to the UN, to foreign countries, will be demanding a piece of it (or more).

So you risk your neck, and your cash, and do the work, only in order to be required to hand it all over to some government agency, or else go to jail.

The result of this is that nobody will tell where they found anything or just exactly which ship it came from—and so history is the loser.


24 posted on 05/18/2007 8:04:35 AM PDT by CondorFlight (I)
[ Post Reply | Private Reply | To 21 | View Replies]

To: Bommer

From now on they will sit in their treasure room, startled by every sound, gradually turning into long-tooth, big-eyed rats saying ‘gollum’ to each other.


25 posted on 05/18/2007 8:06:03 AM PDT by RightWhale (Repeal the Treaty)
[ Post Reply | Private Reply | To 22 | View Replies]

To: Clint N. Suhks

I had a dollar that was worth a dollar once.


26 posted on 05/18/2007 8:08:22 AM PDT by depressed in 06 (Bolshecrat, the despicable party of what if and whine.)
[ Post Reply | Private Reply | To 8 | View Replies]

To: Bommer

Kind of reminds me of the warehouse scene at the end of “Raider of the Lost Ark.”


27 posted on 05/18/2007 8:21:45 AM PDT by hc87
[ Post Reply | Private Reply | To 22 | View Replies]

To: Bommer

Bad news day for people who already own prime speciments of those coins, the value of their investment is going to go down, down, down.


28 posted on 05/18/2007 8:27:00 AM PDT by Sundog (envision whirled peas.)
[ Post Reply | Private Reply | To 22 | View Replies]

To: Red Badger

Probably HMS Sussex, 80 guns 2d rate ship of the line, lost in 1694.

From http://www.treasurelore.com/florida/treasure_news3.htm

The American ship, belonging to the Florida-based Odyssey Marine exploration company, has been scanning the sea bed off Gibraltar for almost a decade. The 400 square miles of Mediterranean sea bed have turned up what appear to be dozens of ancient and modern wrecks, including some believed to date back 2,000 years to Phoenician and Roman times. But one wreck in particular, lying some 2,500ft (760 metres) down and with the cannons still clearly visible to robot cameras despatched by the company, is thought most likely to be the HMS Sussex. The 80-gun warship, supposedly laden with gold and silver, had been on a secret mission to ensure the support of the Duke of Savoy in the war of the League of Augsburg against Louis XIV of France.

Admiral Sir Francis Wheeler, with HMS Sussex as his flagship, had led a fleet of some 80 vessels to the mouth of the Mediterranean at Gibraltar. “Historical records suggest a million pounds sterling was destined for Savoy,” Odyssey Marine says. “Other court records show that just as Wheeler’s fleet was assembling to sail for the Mediterranean, a million pounds was being collected at the exchequer ... and that an order was sent to the exchequer to issue ‘a million pounds in money for the use of the fleet’.”

In mid-February 1694, after a stop-off in Gibraltar, the Sussex found itself caught in a terrible storm. Admiral Wheeler eventually agreed to cut down the main mast to increase its stability. But, according to the two Muslim sailors who were the only survivors from the crew, the mast smashed to pieces while the vessel drifted, took on water and, eventually, plunged to the bottom of the ocean. Some 560 Sussex crew members were among the 1,253 sailors to die that night. Admiral Wheeler’s body, dressed in his night-shirt, was discovered later by Spanish fishermen.

The HMS Sussex has long been a treasure hunter’s dream. Odyssey Marine, which recovered more than $75m (£38m) of gold and silver coins from the wreck of the SS Republic off Georgia in 2003, began its hunt for the Sussex in 1997. In what was hailed as a ground-breaking agreement between a government and a treasure-hunting company, the UK has signed a deal with Odyssey Marine Exploration to allow it to seek out the Sussex.

Under the terms of the deal, any treasure discovered will be divided between the government and the company. The Spanish government initially tried to block the search, but Spain now agrees that - if it can be proved that this is the Sussex - the cargo belongs to Britain.


29 posted on 05/18/2007 8:44:08 AM PDT by centurion316 (Democrats - Supporting Al Qaida Worldwide)
[ Post Reply | Private Reply | To 1 | View Replies]

To: CondorFlight

Yup.

“Citing security concerns, the company declined to release any details about the ship or the wreck site Friday.”

Security concerns, ha ha. How bout taxman concerns he he.


30 posted on 05/18/2007 8:45:04 AM PDT by rjp2005 (Lord have mercy on us)
[ Post Reply | Private Reply | To 24 | View Replies]

To: Red Badger

In a few years, after the high quality coins have been removed for collectors, the junk coins, destined to be melted down into bullion, will be bought by some enterprising group and offered through magazine advertisements for sale at higher than junk coin prices to unsuspecting people as “Own a piece of pirate treasure”.


31 posted on 05/18/2007 8:51:38 AM PDT by Ruy Dias de Bivar (When someone burns a cross on your lawn the best firehose is an AK-47.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: centurion316
But, according to the two Muslim sailors who were the only survivors from the crew, the mast smashed to pieces while the vessel drifted, took on water and, eventually, plunged to the bottom of the ocean. Some 560 Sussex crew members were among the 1,253 sailors to die that night.

Al-Queerda operatives, no doubt........

32 posted on 05/18/2007 8:53:31 AM PDT by Red Badger (My gerund got caught in my diphthong, and now I have a dangling participle...............)
[ Post Reply | Private Reply | To 29 | View Replies]

To: Red Badger

Must have been from The Howells on “The Minnow”


33 posted on 05/18/2007 9:02:19 AM PDT by rod1 (uake)
[ Post Reply | Private Reply | To 1 | View Replies]

To: NYer; centurion316; blam; FairOpinion; StayAt HomeMother; Ernest_at_the_Beach; 1ofmanyfree; ...
Thanks NYer for the ping!

And thanks centurion316 for this:
centurion316: The 400 square miles of Mediterranean sea bed have turned up what appear to be dozens of ancient and modern wrecks, including some believed to date back 2,000 years to Phoenician and Roman times.
To all -- please ping me to other topics which are appropriate for the GGG list. Thanks.
Please FREEPMAIL me if you want on or off the
"Gods, Graves, Glyphs" PING list or GGG weekly digest
-- Archaeology/Anthropology/Ancient Cultures/Artifacts/Antiquities, etc.
Gods, Graves, Glyphs (alpha order)

34 posted on 05/18/2007 9:17:28 AM PDT by SunkenCiv (Time heals all wounds, particularly when they're not yours. Profile updated May 18, 2007.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Red Badger

Wow. Somebody got a booty call.


35 posted on 05/18/2007 9:22:15 AM PDT by reagan_fanatic (I have a big carbon footprint and I'm not afraid to use it.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: SunkenCiv
Amazing, a million pounds sterling at 17th Century values. Now that's what I call "supporting the troops"!
36 posted on 05/18/2007 9:25:28 AM PDT by colorado tanker
[ Post Reply | Private Reply | To 34 | View Replies]

To: HEY4QDEMS
"Lemmi guess... A couple days later you had "money coming out the wahzoo".

HYSTERICAL!!!

37 posted on 05/18/2007 9:28:01 AM PDT by albee (The best thing you can do for the poor is.....not be one of them. - Eric Hoffer)
[ Post Reply | Private Reply | To 19 | View Replies]

To: SunkenCiv

Fair winds, a following sea, and never a lee shore. Unfortunately this prayer was not always answered for those in peril on the sea.


38 posted on 05/18/2007 9:31:14 AM PDT by centurion316 (Democrats - Supporting Al Qaida Worldwide)
[ Post Reply | Private Reply | To 34 | View Replies]

To: SunkenCiv

Fair winds, a following sea, and never a lee shore. Unfortunately this prayer was not always answered for those in peril on the sea.


39 posted on 05/18/2007 9:36:36 AM PDT by centurion316 (Democrats - Supporting Al Qaida Worldwide)
[ Post Reply | Private Reply | To 34 | View Replies]

To: Red Badger

Wow !!!!!!


40 posted on 05/18/2007 10:29:29 AM PDT by Dustbunny (The BIBLE - Basic Instructions Before Leaving Earth)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Dustbunny

I was wondering where I’d lost my stuff.........


41 posted on 05/18/2007 10:32:05 AM PDT by Red Badger (My gerund got caught in my diphthong, and now I have a dangling participle...............)
[ Post Reply | Private Reply | To 40 | View Replies]

To: SunkenCiv
"The site is beyond the territorial waters or legal jurisdiction of any country, he said."

Excellent news.

42 posted on 05/18/2007 11:07:17 AM PDT by blam
[ Post Reply | Private Reply | To 34 | View Replies]

To: hc87
Kind of reminds me of the warehouse scene at the end of “Raiders of the Lost Ark.”

Everything in that scene except for one crate was a painting.

43 posted on 05/18/2007 11:14:18 AM PDT by wideminded
[ Post Reply | Private Reply | To 27 | View Replies]

To: Red Badger
Hello esteemed friend,
Most recently I have come into possession of many rare coins valued at over $500 Million USD.

Alas, I find myself unable to take them back to my native Nigeria and am most desirous of your help in moving the coins to America and selling them to investors.

Please let me know if this is something in which you might be able to assist me and earn a rather handosme 25% commission for your troubles?

The utmost secrecy and confidentiality is of most importance.

Please reply at yopur earliest convenience.

Yours in Christ

Attorney, Solicitor, President for Life of Nigerian 25th National Bank - Njim Nbaker.

44 posted on 05/18/2007 11:21:46 AM PDT by N. Theknow (Kennedys - Can't drive, can't fly, can't ski, can't skipper a boat - But they know what's best.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Clint N. Suhks

I spent a dollar once.


45 posted on 05/18/2007 11:24:28 AM PDT by BigIsleGal (Love to all on Rainbow Bridge and Luck to Us Who Aren't)
[ Post Reply | Private Reply | To 8 | View Replies]

To: N. Theknow

LOL!!!........I wish I were smart enough to create a “virtual” bank and an account that I could send to these guys. When they opened it up to access the funds, instead of sucking out all my “money” it would suck out all theirs instead!..........


46 posted on 05/18/2007 11:30:59 AM PDT by Red Badger (My gerund got caught in my diphthong, and now I have a dangling participle...............)
[ Post Reply | Private Reply | To 44 | View Replies]

To: HEY4QDEMS
The wreck was discovered in international waters, so no governments can claim jurisdiction over the bounty.

Unless it was a warship, in which case I strongly suspect the booty will be claimed by the country's government.

47 posted on 05/18/2007 11:32:48 AM PDT by pierrem15 (Charles Martel: past and future of France)
[ Post Reply | Private Reply | To 16 | View Replies]

To: CondorFlight
The result of this is that nobody will tell where they found anything or just exactly which ship it came from—and so history is the loser

Yes, history loses, but even deeper than that, government policies which take the finds teach kids not to even dream of finding treasure that might be in their area, just because there would be no point.

48 posted on 05/18/2007 11:36:05 AM PDT by Smokin' Joe (How often God must weep at humans' folly.)
[ Post Reply | Private Reply | To 24 | View Replies]

To: Red Badger

Great. We will soon have millions of “new” citizens living below the poverty level. They can use the gold.


49 posted on 05/18/2007 12:21:05 PM PDT by Sam Ketcham (Amnesty means vote dilution, & increased taxes to bring us down to the world poverty level.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: pierrem15

You can bet that multiple governments will enter their ‘claims’ any time there is a find of this magnitude. Vultures.


50 posted on 05/18/2007 12:51:18 PM PDT by Tallguy (Climate is what you plan for, weather is what you get.)
[ Post Reply | Private Reply | To 47 | View Replies]


Navigation: use the links below to view more comments.
first 1-5051-60 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson