Shipwrecks: Who owns the treasure hidden under the sea?
RogerB
Posts: 8,852 ✭✭✭✭✭
A BBC article of interest to coin collectors:
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RogerB
Posts: 8,852 ✭✭✭✭✭
Comments
spain (fwiw as of right now)
Each case must be viewed differently based on the facts.
The article lays out some of the basic ideas for who might have claims but the Central America case shows that claims can come from investors, researchers, insurance companies,banks, and others, too.
When there's lots of money involved, things can get quite complicated.
Poseidon / Neptune...until someone takes it away.
http://www.greek-mythology-pantheon.com/poseidon-neptune-greek-god-of-the-sea/
BST transactions: dbldie55, jayPem, 78saen, UltraHighRelief, nibanny, liefgold, FallGuy, lkeigwin, mbogoman, Sandman70gt, keets, joeykoins, ianrussell (@GC), EagleEye, ThePennyLady, GRANDAM, Ilikecolor, Gluggo, okiedude, Voyageur, LJenkins11, fastfreddie, ms70, pursuitofliberty, ZoidMeister,Coin Finder, GotTheBug, edwardjulio, Coinnmore, Nickpatton, Namvet69,...
Who owned it before the Europeans took it?
Where there is a quantity of money, there will be many claimants. In cache metal detecting, we never, ever, discuss finds..... Cheers, RickO
So that's why you have 'never' found a cache ??
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko
Bad transactions with : nobody to date
@1630Boston.... You got me you clever devil.....
Cheers, RickO
The article is interesting but also kind of general. It's written from a British perspective so it doesn't mention the process here in the U.S. of filing Admiralty. The U.S. never signed up to UNESCO's Law of the Sea Treaty, so in the U.S. filing Admiralty is still the correct legal way to establish ownership of a shipwreck site. Over the years many companies have done so successfully, except in the case of warships, and especially Spanish warships. I'm working with a company who has made successful Admiralty claims in the past, and this summer they'll be conducting remote sensing operations for a vessel that sank with a large number of U.S gold coins. All in all, American ships that sank in international waters are the best bet for establishing ownership that permits a successful recovery.
SPONGEBOB!! SQUAREPANTS!!
@Mike1822....Welcome aboard..... I hope you will keep us informed of such exploration and discoveries. Coin collectors love these stories and we follow the recovery and subsequent restoration/sales of shipwreck coins closely. Cheers, RickO
If it's buried or sunk, whoever claims ownership should go dig or dredge it up. Leave it to scholars to ascertain where it came from , but lawyers decide who it goes back to. In essence.... finders keepers. Loose lips and cannonballs.
It is interesting how law has evolved with these sunken treasures from Davy Jones' locker! God help anyone who recovers valuable loot off the coast and then gets publicized with a stash tied up in the courts....Between the devil and the deep blue sea!
No way a big undersea operation be kept secret, too many people involved.
The "Titanic" expedition did pretty good at hiding their real mission.
Wow, I had no idea. this place is great thanks.
Welcome and thank you for making the time with your analysis in a plain language @Mike1822
Mother Earth & then dug out and smelted into gold or silver.
Ahh, let's not talk about the labor and how it was obtained of WHO sweated and died to bring this metal out of Mother Earth!
Well, just Love coins, period.
Wow, awesome !!!
The court...unless the judges were bought