Arrrrrrrrrrr me hearties.......

[PartTimePongo]

Wreck yields record treasure haul

Gold and silver coins reported to be worth hundreds of millions of dollars have been recovered from a colonial-era shipwreck in the Atlantic ocean.

The Odyssey Marine Exploration company said on Friday that half a million silver coins and hundreds of gold ones were found but declined to give the exact location citing security reasons.

The US company said the first 6,000 silver coins recovered were in remarkable condition while "The gold coins are almost all dazzling mint state specimens."

A statement from Odyssey said the coins were legally imported to the US but did not give any details of their origin and the wreck was only referred to by its codename of "Black Swan".

The haul is believed to be the largest ever of its kind.

http://english.aljazeera.net/NR/exeres/47A63629-7BC0-40E9-B5FA-603210E4DBF8.htm

 

[PartTimePongo]

More on this, ship now identified as HMS Sussex lost off Gibraltar in 1694.

And of course, as there is so much booty involved, the rows have started.

http://www.gibfocus.gi/details_headlines.php?id=1322

Amongst the details provided to stakeholders includes claims that Odyssey is currently waiting for the archaeological staff to be selected and scheduled before resuming operations on the site believed to be HMS Sussex.

The claims came hours before the Spanish Government has ordered the Guardia Civil to start and investigation against the companies latest finding.

Surprisingly in its question and answers to stakeholders the company has admitted that the $4 billion value which has been tagged on the HMS Sussex treasure value could be an overestimation. The company admitting that the actual value is likely to be of some $500 million. The estimated figure is similar to that provided for the value of the Black Swan Project, which has been valued at $500 million by the company as it disclosed details over the findings.

If the wreck is only a km off Gib, and it is a British Warship , don't the Treasury get a nice little earner off this?

Not sure what the rules are concerning RN vessels , but I know for a fact that USN vessels and artifacts remain on charge of USN forever.

 

[NZ_Bootneck]

Bonus, might get a few more toys to play with...once the 10 year legal battle to determine ownership is settled. This sounds like a nice little earner for Rosie of the Bailey.