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'Billions worth' of treasure found in Indian temple

goingbrokegoingbroke Posts: 1,410
in Precious Metals
(THIS MIGHT AFECT PM PRICES!) A treasure trove of gold and silver jewelry, coins and precious stones said to be worth billions of dollars has been found in a Hindu temple in southern India, officials said on Saturday.

The valuables have an estimated preliminary worth of over 500 billion rupees ($11.2 billion), said Kerala Chief Secretary K. Jayakumar, catapulting the temple into the league of India's richest temples.

The thousands of necklaces, coins and precious stones have been kept in at least five underground vaults at the Sree
"We are yet to open one more secret chamber which has not been opened for nearly 140 years," Jayakumar told AFP.

A necklace found on Thursday was 18 feet (six metres) long. Thousands of gold coins have also been found.
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Comments

  • MeltdownMeltdown Posts: 8,789 ✭✭✭✭✭
    I NEED photo's!

    Click on this link to see my ebay listings.

  • goingbrokegoingbroke Posts: 1,410
    I am sure there will be lots of photos when they post this stuff on the BST!
    Many successful BST transactions ajia
    (x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
    mariner67, and Mikes coins
  • MeltdownMeltdown Posts: 8,789 ✭✭✭✭✭


    << <i>I am sure there will be lots of photos when they post this stuff on the BST! >>



    Sweet. I call dibs on the 18 foot necklace!
    image

    Click on this link to see my ebay listings.

  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    If all those artifacts were only considered as pure gold bullion then it would be about 230 tons of gold at today's prices. But seeing as the stuff has been put
    away for up to 140 yrs, there is probably a large collector premium being attached to that $11 BILL. Who knows how much of that hoard are gem stones.
    Probably won't make a blip in the market without confirmation of actual bullion. And even so, if it's not being sold into the market as bullion, then it's just another
    230 tons out of 165,000 tons currently estimated.

    Isn't it also possible that this potential 230 tons of gold is already included in the 165,000 figure? Even back 140 yrs or more, gold mining output was generally tracked
    and recorded.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • calleochocalleocho Posts: 1,569 ✭✭
    I wonder how Indiana Jones missed this one!
    "Women should be obscene and not heard. "
    Groucho Marx
  • Coins101Coins101 Posts: 2,602 ✭✭✭
    What is more interesting is:

    "Since India achieved independence from Britain in 1947, a trust managed by descendants of the Travancore royal family has controlled the temple.

    But India's Supreme Court recently ordered that the temple be managed by the state to ensure the security of valuables at the shrine."

    So, the government confiscated the treasure from private hands? I can see saving it from the smealter but will the decendants be compensated?
  • BaleyBaley Posts: 22,660 ✭✭✭✭✭
    Indiana Jones is prospecting the Asteriod Belt for high grade ore using robot miners and refiners

    Liberty: Parent of Science & Industry

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