S.S. Central America discoverer has been arrested

FredF · January 28, 2015 2:47AM

Saw this randomly on the news. I often use the SS Central America sinking in 1857 and the ensuing bank problems that followed to explain to non-numismatists how you can learn a bunch about history of a society by looking at the history of money. That you can buy the 1857-S $20's and such with provenance tied to the shipwreck also impresses folks who don't collect coins. That said, I had no idea about the problems associated with the investors and that the guy who found the ship had been a fugitive for many years.

Fugitive Treasure Hunter Arrested in Florida

OriginalDan · January 28, 2015 3:16AM

Wow, that's big news.

DaveWcoins · January 28, 2015 3:52AM

Finally!

I'm glad they nabbed that crook.

CaptHenway · January 28, 2015 3:55AM

Isn't it amazing how gold can wreck a person's life?

ChiSao · January 28, 2015 4:04AM

U.S. Marshals Service tracked him down. This announcement right before the release of the comm. coin.

Timbuk3 · January 28, 2015 4:20AM

What !!!

Mark · January 28, 2015 4:21AM

Re U.S. Marshals Service tracked him down. : Someone ought to buy Thompson one of the gold coins and then give it to him as a present.

ms70 · January 28, 2015 4:28AM

This will be something we'll be watching for a long time as the court case goes on. It should be interesting.

I can't wait until what's being recovered now makes it's way to the market.

FredF · January 28, 2015 11:44AM

<< I can't wait until what's being recovered now makes it's way to the market. >>

Is there stuff that he's hoarding? I thought that he allegedly pocketed the cash from the sale and didn't give the investors their share. Are there more coins out there?

CuKevin · January 28, 2015 12:56PM

<< 

<< I can't wait until what's being recovered now makes it's way to the market. >>

Is there stuff that he's hoarding? I thought that he allegedly pocketed the cash from the sale and didn't give the investors their share. Are there more coins out there? >>

A significant portion of what was on the ship was never recovered. Odyssey (OMEX) was recently given permission to excavate the rest of the ship. Eventually they will end up selling most everything they recover.

ricko · January 29, 2015 4:39AM

With his financial resources, there is no reason - other than abject stupidity - that he was caught. Unbelievable...Cheers, RickO

EagleEye · January 29, 2015 8:36AM

Bob Evans on the disposition of the SS Central America from 2013

FredF · April 8, 2015 10:38AM

Update - pleaded guilty to contempt for failure to appear on the warrant, and forfeited $425k in cash found on them when they were arrested in Florida.

Former Fugitive Treasure Hunter Pleads Guilty to Contempt in Ohio

mrearlygold · April 8, 2015 10:57AM

Wow! 3 hots and a cot for you!

planetsteve · April 8, 2015 11:11AM

<< Bob Evans on the disposition of the SS Central America from 2013 >>

Fascinating article and a quick read. Thanks.

LanceNewmanOCC · April 9, 2015 2:33AM

<< I often use the SS Central America sinking in 1857 and the ensuing bank problems that followed to explain to non-numismatists how you can learn a bunch about history of a society by looking at the history of money. >>

i like saying to people, "if you want to follow history, follow the money."

interesting read. thanks.

.

BillJones · April 9, 2015 2:36AM

This guy has got be one of the dumbest crooks on the planet. Even if he got only 5% of the take, that's over $5 million. I guess that was not enough, and I'm sure he was entitled to more than that.

From what I understand he was trying get away with a bunch of those "coins' that were made from melted gold bars. To me all those things were nothing more than glorified bullion. He would have better off with pieces of the original bars.

planetsteve · April 9, 2015 3:04AM

BillJ, do you mean those restrikes?

BillJones · April 9, 2015 3:11AM

<< BillJ, do you mean those restrikes? >>

Yes, the restrikes that aren't really restrikes from what I've read about them. Restrikes are made from the original dies, "restruck," at a later date. These things were made from copy dies.

From what I read in the non numismatic press it seemed like he had over a million dollars in those things.

planetsteve · April 9, 2015 4:48AM

Interesting, thanks. Sounds like the whole affair is a rat's nest of lawsuits.

S.S. Central America discoverer has been arrested

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