Silver at sea

4 10 2011

In the news last week – a shipwreck that may be the largest recovery of precious metal at sea [news-story].

The ship, SS Garisoppa, was carrying what is now estimated at around US$200m of silver, when it was sunk in the early 1940s.

So, approx. US$200m worth of silver – 219 tonnes of silver coins and bullion – is pretty hard to visualise. But I reckon it’s lots.

Though I wonder if that estimate was before or after the little metal price bubble-pop that happened last week?!

Don’t have much else to say about it really .. just thought it was interesting.



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