Skip to footer

Sunken treasure: 1,000 ounces of gold recovered from sunken ship

About $50 million in gold was recovered during expeditions to the wreck in the late 1980s and early 1990s before legal disputes shut down excavation of the sunken treasure.

|
Courtesy Odyssey Marine Exploration Inc/AP
These gold bars, seen April 15, were recovered from the wreck of the S.S. Central America off the South Carolina coast. They are among nearly 1,000 ounces of gold that has been initially recovered from the wreck of the ship that sank during a hurricane in 1857.
  • By Bruce Smith Associated Press

| CHARLESTON, S.C.

An expedition to bring back the remaining gold from a steamship that sank in 1857 off South Carolina in one of the nation's worst maritime disasters has recovered almost 1,000 ounces of gold – the first gold recovered from the wreck in almost a quarter century.

The S.S. Central America was bringing gold back from the California when it sank in a hurricane. In addition to 425 lives lost, thousands of pounds of gold went to the bottom aboard the 280-foot, side-wheel steamship.

About $50 million was recovered during expeditions to the wreck in the late 1980s and early 1990s before legal disputes shut down the operation.

Odyssey Marine Exploration of Tampa, Florida, announced Monday that almost 1,000 ounces of the gold was recovered during a reconnaissance dive last month.

The newly recovered gold includes five gold bars and two $20 Double Eagle gold coins. One of the coins was minted in San Francisco the year that the Central America sank. The gold bars weigh between 106 and 344 ounces.

"While we weren't planning to recover gold so quickly, it did confirm that the site has not been disturbed since it was last visited in 1991 and there is gold remaining," said Mark Gordon, Odyssey's president and chief operating officer.

An expedition that left North Charleston in April is expected to be on the site about 160 miles off the coast until late summer. Gordon said that in recent weeks the crew of 41 aboard the Odyssey Explorer has been conducting an extensive survey of the site and the recovery of more gold will begin once that is completed.

It is not clear how much gold might remain. The ship was carrying gold bars shipped by banks and commercial interests. Passengers were thought to be carrying a lot of gold of their own in the form of coins – perhaps an amount equaling the commercial shipment.

The initial expeditions 25 years ago were halted because of legal disputes.

One of them involved investors from Ohio who staked out the money for shipwreck enthusiast Tommy Thompson, an Ohio native, who led the 1988 expedition that recovered the initial cache of gold.

The investors claimed they had fronted Thompson almost $13 million but never saw any return. Thompson has been a fugitive for almost two years after failing to show up for a court hearing.

A deal approved by an Ohio judge in March cleared the way for the new expedition.

The receiver for Thompson's companies will get more than half of anything that is recovered, to be disbursed in part to the investors who backed the initial expedition.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

You've read  of  free articles. Subscribe to continue.
Real news can be honest, hopeful, credible, constructive.
What is the Monitor difference? Tackling the tough headlines – with humanity. Listening to sources – with respect. Seeing the story that others are missing by reporting what so often gets overlooked: the values that connect us. That’s Monitor reporting – news that changes how you see the world.
editor@csmonitor.com
Subscribe
Mark Sappenfield
Editor

Dear Reader,

About a year ago, I happened upon this statement about the Monitor in the Harvard Business Review – under the charming heading of “do things that don’t interest you”:

“Many things that end up” being meaningful, writes social scientist Joseph Grenny, “have come from conference workshops, articles, or online videos that began as a chore and ended with an insight. My work in Kenya, for example, was heavily influenced by a Christian Science Monitor article I had forced myself to read 10 years earlier. Sometimes, we call things ‘boring’ simply because they lie outside the box we are currently in.”

If you were to come up with a punchline to a joke about the Monitor, that would probably be it. We’re seen as being global, fair, insightful, and perhaps a bit too earnest. We’re the bran muffin of journalism.

But you know what? We change lives. And I’m going to argue that we change lives precisely because we force open that too-small box that most human beings think they live in.

The Monitor is a peculiar little publication that’s hard for the world to figure out. We’re run by a church, but we’re not only for church members and we’re not about converting people. We’re known as being fair even as the world becomes as polarized as at any time since the newspaper’s founding in 1908.

We have a mission beyond circulation, we want to bridge divides. We’re about kicking down the door of thought everywhere and saying, “You are bigger and more capable than you realize. And we can prove it.”

If you’re looking for bran muffin journalism, you can subscribe to the Monitor for $15. You’ll get the Monitor Weekly magazine, the Monitor Daily email, and unlimited access to CSMonitor.com.

Subscribe to insightful journalism

QR Code to Sunken treasure: 1,000 ounces of gold recovered from sunken ship
Read this article in
https://www.csmonitor.com/Business/Latest-News-Wires/2014/0505/Sunken-treasure-1-000-ounces-of-gold-recovered-from-sunken-ship
QR Code to Subscription page
Start your subscription today
https://www.csmonitor.com/subscribe