Historic Sunken Gold Treasure Makes Its Public Debut In California
(Kitco News)- Ever wantedto know what $40 million in recovered gold looks like? Well now you will getyour chance as the world’s greatest lost treasure goes on display in Californianext month.
From Feb.22 to 24, gold recovered from the SS Central America, also known as the “Shipof Gold,” will be on display during the Long Beach Coin, Currency, Stamp &Sports Collectible Expo, courtesy of the California Gold Marketing Group.
This willbe the first time people will get a look at the sunken treasure that has madeheadlines around the world for more than 30-years. The display, housed in a40-foot long re-creation of the ship’s hull, will showcase many of the 3,100 goldcoins, more than 10,000 silver coins and 45 gold ingots that have been held insecure vaults since they were retrieved from the ocean floor off the coast ofthe Carolinas in 2014, according to the marketing group.
The displaywill also include never-before opened leather satchels of gold dust that wasmined during the California gold rush.
“This istruly an international discovery. In addition to all the United States coins,the trove includes many coins from around the world, including two Australiansovereigns struck in Sydney in 1855 and 1856, and both are the finest known.There also are gold coins from France, including a Napoleon 20 francs, Britishgold sovereigns of Queen Victoria, Mexican eight escudos, Netherlands ducats,Dutch guldens and Peruvian gold, too,” said Dwight Manley, managing partner ofthe California Gold Marketing Group.
It's also the perfect gift for those history buffs, as the gold is all for sale. However, you will need some deeppockets to get a piece of this treasury. Just one tiny coin alone could go for$1 million because of its combination of rarity and the history behind it, saidManley.
Initiallyfound in the 1980s, SS Central America was carrying California gold that hadbeen shipped from San Francisco to Panama when she sank in a September 1857 hurricane.The loss of the gold cargo was a significant factor in the economicallydevastating financial panic of 1857 in the United States.
In the pastfour years, the treasure has been caught in the middle of a major court battlebetween investors. In December, a judge finally gave the okay for the sale ofthe historical treasure.
The original treasure hunter who discovered thesunken gold, Tommy Thompson has been in prison for the last two years for beingin contempt of court as he refuses to reveal the location of some 500 goldcoins. In the 1980s Thomson convinced a group of investors to back his project;however, one of these investors were paid and staked a claim for the recoveredgold in court.
By Neils ChristensenFor Kitco News
Follow neils_C
nchristensen@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.