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SS Central America update
HalfStrike
Posts: 2,202 ✭✭✭
Here is what they have done so far since finding the first bars-
"We first visited the site in April, and as has already been announced publicly, we recovered gold during the first reconnaissance dive. That certainly answered the assertions of many naysayers who said we wouldn’t find any gold there.
Things are going exceptionally well on the project – our equipment is all performing beautifully, the pre-disturbance survey has been completed and the archaeological excavation is proceeding very smoothly. While there are some issues being resolved between the Court-appointed Receiver for RLP and CADG, Odyssey is not a party to these proceedings and we have our recovery contract in place with the Receiver which has been approved by the Ohio State Court. The Federal Judge who has jurisdiction over the site has found that Odyssey is qualified to conduct the archaeological recovery and that it is in the public interest for us to continue recovery operations.
As for the site itself, there is one thing that I can tell you without any qualification – and that is that anyone who thought that the previous operations twenty years ago recovered all the gold and valuables from the site was clearly mistaken. Nearly every day of seafloor operations produces new discoveries and recoveries of gold in a dazzling array of different forms.
Early recovery results are well beyond our expectations. We’ve already recovered over $100,000 in 1857 face value of ingots and other gold including rare natural nuggets, jewelry and a wide array of different coins. The collection we have recovered to date represents an amazing cross section of the type of wealth that resulted from the California gold rush, and coupled with the excellent methodical archaeological work our team is conducting, will contribute a great deal to the historical record.
Based on estimates provided by the independent expert hired by the court-appointed Receiver, this gold recovered to date represents a small fraction of his best estimate of what remained on the site. Now that we’ve completed recovery of most of the gold and valuable artifacts on the surface outside the hull structure, we’re starting on the excavation inside the hull itself. Ingots, gold nuggets, dust and coins have been coming up from this new excavation area daily, so we are off to a great start on this project. "
"We first visited the site in April, and as has already been announced publicly, we recovered gold during the first reconnaissance dive. That certainly answered the assertions of many naysayers who said we wouldn’t find any gold there.
Things are going exceptionally well on the project – our equipment is all performing beautifully, the pre-disturbance survey has been completed and the archaeological excavation is proceeding very smoothly. While there are some issues being resolved between the Court-appointed Receiver for RLP and CADG, Odyssey is not a party to these proceedings and we have our recovery contract in place with the Receiver which has been approved by the Ohio State Court. The Federal Judge who has jurisdiction over the site has found that Odyssey is qualified to conduct the archaeological recovery and that it is in the public interest for us to continue recovery operations.
As for the site itself, there is one thing that I can tell you without any qualification – and that is that anyone who thought that the previous operations twenty years ago recovered all the gold and valuables from the site was clearly mistaken. Nearly every day of seafloor operations produces new discoveries and recoveries of gold in a dazzling array of different forms.
Early recovery results are well beyond our expectations. We’ve already recovered over $100,000 in 1857 face value of ingots and other gold including rare natural nuggets, jewelry and a wide array of different coins. The collection we have recovered to date represents an amazing cross section of the type of wealth that resulted from the California gold rush, and coupled with the excellent methodical archaeological work our team is conducting, will contribute a great deal to the historical record.
Based on estimates provided by the independent expert hired by the court-appointed Receiver, this gold recovered to date represents a small fraction of his best estimate of what remained on the site. Now that we’ve completed recovery of most of the gold and valuable artifacts on the surface outside the hull structure, we’re starting on the excavation inside the hull itself. Ingots, gold nuggets, dust and coins have been coming up from this new excavation area daily, so we are off to a great start on this project. "
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Great news for the hobby
I suspect adding to the supply of coins & artifacts will create even more demand.
100% Positive BST transactions
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Until an inventory is listed the statements to date are disappointing and clearly are more intended to boost stock confidence than to really provide a meaningful accounting. Also interesting to see the court challenges being dismissed as "some issues." What is left unsaid are meaningful statements as to exactly what those issues are and which likely include turf battles between the courts (Multiple Federal, States, Bankruptcy) as to who really has jurisdiction over the ultimate issue as to who gets to benefit from the proceeds. As I understand it Odyssey is simply working under a contract so who actually ends up with the loot remains in controversy. It is unclear as to how, if at all, Odyssey through its contract will benefit from the total value of the treasure recovered though until it is ultimately decided who gets the recovery there will be nothing to divide and that could take years based on the last time the pirates were fighting to divide the plunder.
Coins for sale at link below
https://photos.app.goo.gl/TyJbuBJf37WZ2KT19
I wonder if Amazon will be the marketplace chosen. And will Kagins be involved also?
With all the modern crap releases from the Mint lately I'm really getting in the mood for some choice bottom of the Sea
Gold.
Please someone, dig up some promising news.