latest on treasure finds?
northcoin
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It has been awhile since news of sunken ships and their treasure coins have been in the spotlight. Anything on the horizon?
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<< <i>It has been awhile since news of sunken ships and their treasure coins have been in the spotlight. Anything on the horizon? >>
The seas must be calm.
<< <i>Not on the horizon.... but likely below it... waaaaayyyyy below.....
Heres a pretty good article on him, Bob Marx
As to new treasure news, I havent read anything on the latest find by Odessy Marine and their find in the English Channel. I believe, IIRC, they are waiting court rulings or something like that.
" TAMPA — After a two-year trans-Atlantic legal duel, a federal judge urged Odyssey Marine Exploration to hand over millions of dollars in sunken treasure to the Spanish government.
But the Tampa deep-sea salvager said Thursday it will fight the court's recommendation to restore 594,000 coins worth $500 million to Spain.
Odyssey, the world's only publicly traded company devoted to undersea treasure hunting, saw its stock drop 43 percent in a day. Its shares ended trading Thursday at $2.21.
Odyssey has tussled with Spain over ownership of the mostly silver trove that weighs 17 tons. It's part of the so-called Black Swan find announced in May 2007 and stashed in a vault somewhere in Central Florida.
In an ruling Wednesday, federal Magistrate Judge Mark Pizzo said Spain is the rightful owner of the treasure once carried by the Spanish navy frigate Nuestra Senora de las Mercedes.
A British squadron sunk the Mercedes in international waters off Portugal in 1804. Spain planned to use the precious coins to help finance Napoleonic France's war against Great Britain.
After Odyssey flew the treasure back to Tampa in 550 white plastic buckets, Spanish officials called the company's employees a gang of pirates. Twice in the months after the 2007 announcement, Spain's Civil Guard seized Odyssey ships off the Spanish coast. They were released.
"We are very happy," Spanish Culture Minister Angeles Gonzalez-Sinde said Thursday. "This decision is very important. I am glad the judge has really seen that the ship and the treasure belong to Spain."
Odyssey chief executive Greg Stemm planned to keep fighting. Another federal judge will consider Pizzo's recommendation and make a ruling.
"This case addresses some very significant legal issues, so in the beginning it became fairly clear it was going to go to the appellate court," Stemm said.
In his recommendation, Pizzo reaffirmed a nation's right to the wreckage of its sovereign warships. Spain never abandoned its claim to the vessel, and Pizzo noted that the United States protects its sunken warships.
The judge also rebuffed an attempt by Peru to get a share of the loot. Much of the silver came from South America, but in 1804 Peru was a Spanish colony, not an independent nation.
Twenty-five descendants of merchants who were transporting cargo on the ship also want a piece. "
<< <i>The saying once was "Loose lips sink ships!"..... Now it is 'Loose lips, lose ships (treasures).' Never, ever, ever talk about found booty. Period. Cheers, RickO >>
They are a public company and I am sure there are some disclosure requirements.
<< <i>Unless there's a reversal in this case, I doubt there will be much incentive to go after sunken treasure in the future (from the St. Petersburg Times 6/5/2009):
" TAMPA — After a two-year trans-Atlantic legal duel, a federal judge urged Odyssey Marine Exploration to hand over millions of dollars in sunken treasure to the Spanish government.
But the Tampa deep-sea salvager said Thursday it will fight the court's recommendation to restore 594,000 coins worth $500 million to Spain.
Odyssey, the world's only publicly traded company devoted to undersea treasure hunting, saw its stock drop 43 percent in a day. Its shares ended trading Thursday at $2.21.
Odyssey has tussled with Spain over ownership of the mostly silver trove that weighs 17 tons. It's part of the so-called Black Swan find announced in May 2007 and stashed in a vault somewhere in Central Florida.
In an ruling Wednesday, federal Magistrate Judge Mark Pizzo said Spain is the rightful owner of the treasure once carried by the Spanish navy frigate Nuestra Senora de las Mercedes.
A British squadron sunk the Mercedes in international waters off Portugal in 1804. Spain planned to use the precious coins to help finance Napoleonic France's war against Great Britain.
After Odyssey flew the treasure back to Tampa in 550 white plastic buckets, Spanish officials called the company's employees a gang of pirates. Twice in the months after the 2007 announcement, Spain's Civil Guard seized Odyssey ships off the Spanish coast. They were released.
"We are very happy," Spanish Culture Minister Angeles Gonzalez-Sinde said Thursday. "This decision is very important. I am glad the judge has really seen that the ship and the treasure belong to Spain."
Odyssey chief executive Greg Stemm planned to keep fighting. Another federal judge will consider Pizzo's recommendation and make a ruling.
"This case addresses some very significant legal issues, so in the beginning it became fairly clear it was going to go to the appellate court," Stemm said.
In his recommendation, Pizzo reaffirmed a nation's right to the wreckage of its sovereign warships. Spain never abandoned its claim to the vessel, and Pizzo noted that the United States protects its sunken warships.
The judge also rebuffed an attempt by Peru to get a share of the loot. Much of the silver came from South America, but in 1804 Peru was a Spanish colony, not an independent nation.
Twenty-five descendants of merchants who were transporting cargo on the ship also want a piece. " >>
Thanks a million dubloons for that informative response to the initial inquiry.
<< <i>Heard about one in Canada thats been ongoing for a few years and NO its not "the money pit". Something to do with a british frigate returning from the sacking of washington dc. Been about 2 years since I heard about it. Not sure if its been done or if the Can govt is holding it up or what. >>
Anyone know more? Sound interesting. I was at Fort Niagra last month and interestingly the flag which was captured by the British there in the War of 1812 has only in recent years been returned from Britian and is now on display at the Fort.
$140 Billion
<< <i>$140 Billion >>
The more I read that article and reflect on Odysey's past press releases, the more I come to suspect that the real treasure lies in some upticks on the stock market price and well-timed selling of said stock.
<< <i>he is considered to be the last living real pirate. >>
I guess he has not had a run-in with the US Navy....
Found about 10 other pre-1960 nickels as well. All circulated, but I hold on to them anyway...
"Bongo hurtles along the rain soaked highway of life on underinflated bald retread tires."
~Wayne
LOL, Not that I recall, but he did do some serious time over sea's I believe in The Bahama's.
Lafayette Grading Set
<< <i>I don't understand this about the sunken treasure ships. A nation lays claim to them for 100's of years and only gets the treasure if YOU do the WORK for them. (Sounds like BO) They as a nation would never find them. If Spain wanted it so bad why didn't they pay Odyssey to find it for them in the first place. >>
Seems like much of the issue is just where "Territorial Waters" are located.
If its in their waters, I fully understand about wanting to claim whatever artifacts they want. But, if they allow a company to search for these ships in their waters only to say, "its ours", they need to be told this upfront and be payed accordingly.
Otherwise, get off your ass and do the work.
<< <i>If its 12 miles out, it should be simple. FINDERS KEEPERS.
If its in their waters, I fully understand about wanting to claim whatever artifacts they want. But, if they allow a company to search for these ships in their waters only to say, "its ours", they need to be told this upfront and be payed accordingly.
Otherwise, get off your ass and do the work. >>
Interestingly, the law of salvage evolved prior to the advent of modern technology. Perhaps some updating would be in order.
Salvaging wrecks, while still very dangerous, time consuming, and costly, is very easy nowadays thanks to modern technology.
International waters are no man lands. 12 miles out any nation should have to fight to find it and lay claim, fair and square.
Its not that hard to think of in a common sense sort of way.
I personally think of it as nothing more than greed and laziness. Govts love to claim riches and national treasures when wrecks are found, but when has any of these Govts do any of the work to find it, bring it up, and conserve and document it all? They sit and approve companies coming in and finding them and doing the work, then when enough of its found and recovered, they swoop in and lay NATIONAL TREASURE claims on it and basically steal everything of any real value or significance.
Its almost not worth it to search for some of these ships anymore. Even a solid 50/50 split, with both parties knowing and living up to the agreement would be fine I would think for all concerned... But greed wins again...
P.S. Sorry for the small rant, its very close to home......
My whole beef is that if anyone has claim to this treasure its the Incan descendents and not the blood thirsty conquistodors descendants.
<< <i>I found 2 silver 1943 nickels while roll searching this week.
Found about 10 other pre-1960 nickels as well. All circulated, but I hold on to them anyway... >>
Shame on you! Give them back to the rightful owners.
Lance.
They found a bunch of cannons:
Whydah cannons