Wednesday, December 03, 2003

A Tremendous Sunken Treasure of Coins Found

The Odyssey Marine Exploration Company, after a ten year search, has found the wreck of the S.S. Republic. The Republic was a ship that was carrying over 20,000 gold coins when it was sunk by a hurricane in 1865. The ship lies about 100 miles off the Georgia Coast.

The Republic was a Union steamship carrying money and supplies from New York to New Orleans.

The value of the find is estimated at 120-180 million dollars today in collector value.

The discoverers have already recovered 1,750 coins, both gold and silver.

Shipwreck coins tend to have a vast collector interest and appeal, especially if from a famous ship or discovery. I expect the collector interest and thus the value of these coins to be very high as this seems to be a massive discovery.

More on the find can be found here, here, and here. The news of the great discovery has been picked up in places as far away as Israel and Australia.

Congrats to the Odyssey Marine Exploration Company after their ten year effort!

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