Sunken ship foun carrying a fortune in gold!

[Javadroid]

They are still out there to be found!

https://www.telegraph.co.uk/news/20...ying-100-billion-gold-discovered-south-korea/

 

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[GB1]

pretty neat

 

[IMAUDIGGER]

pretty neat

Seems like “a fortune” really does not adequately describe 100 billion dollars.

 

[Javadroid]

Seems like “a fortune” really does not adequately describe 100 billion dollars.

How about "mind-boggling, jaw dropping, OMG-amount of booty"?! It boggled me right out of putting a "d" at the end of "foun" in my subject line!

Actually "100 billion dollars" is inadequate, as it is 100 billion British pounds... about $131B.

 

[OtakuDude]

Didn't want to register to use the first link. Found this over at the Daily Mail instead.

Russian warship 'carrying £100 billion gold' found off South Korea | Daily Mail Online

 

[Javadroid]

Didn't want to register to use the first link. Found this over at the Daily Mail instead.

Russian warship 'carrying £100 billion gold' found off South Korea | Daily Mail Online

Excellent! Thank you for sharing this.

 

[Peyton Manning]

someone please figure up the weight of 100b in gold

 

[Peyton Manning]

ok I did it, impossible for a ship to carry that much weight
at least 5 million pounds

 

[galenrog]

As far as the value of any gold value is concerned, as with any treasure story, it seems to get larger with every telling.

 

[Javadroid]

Reasonable points! I think the current estimate on the Atocha treasure is about $600 million, so $131 billion is seemingly impossible for one ship. Maybe the value should be in millions on this one, not billions? $131 million is indeed more realistic...

 

[Simon1]

Unless my conversion rate is way off, 100 billion L is about

59,965,817.09
United States Dollar (USD)

then in the 90's the L was discontinued and replaced by Euro which would be:
116,373,100,000.00 United States Dollar

 

[Javadroid]

Unless my conversion rate is way off, 100 billion L is about

59,965,817.09
United States Dollar (USD)

then in the 90's the L was discontinued and replaced by Euro which would be:
116,373,100,000.00 United States Dollar

Not so mate - the UK is still on pound sterling as it elected not to go with the Euro. Conversion is about 1 GBP = 1.3 USD, so it would take 130 billion USD to equal 100 billion quid.

​

 

[Javadroid]

A bit more calculation, based on the story saying "Shinil Group believes there could be as much as 200 tons of gold on board the ship, which would be worth around $133.4billion."

200 tons = 6,400,000 ounces. Gold is currently at about $1,225. Meaning the calculated value based on this specific quote is actually $7,840,000,000.

That's quite a tidy sum indeed, but a far cry from the headline. And 200 tons is easily within the hauling capacity of a ship.

In other words, treasure again proves its power to dull yet fascinate the senses of people, including reporters!

 

[IMAUDIGGER]

A bit more calculation, based on the story saying "Shinil Group believes there could be as much as 200 tons of gold on board the ship, which would be worth around $133.4billion."

200 tons = 6,400,000 ounces. Gold is currently at about $1,225. Meaning the calculated value based on this specific quote is actually $7,840,000,000.

That's quite a tidy sum indeed, but a far cry from the headline. And 200 tons is easily within the hauling capacity of a ship.

In other words, treasure again proves its power to dull yet fascinate the senses of people, including reporters!

Have to remember that the value will exceed spot price of gold.
Gold coins typically are worth more than just the gold content.

 

[Javadroid]

Have to remember that the value will exceed spot price of gold.
Gold coins typically are worth more than just the gold content.

Spot on! Good point mate.