There is a benefit for Today not being the day!

[Au_Dreamers]

In my Tnet researching I ran across a couple posts that reminded me of something I was explaining to my Nephew.

her "offical" total gold onboard was only about 1500 lbs

Only? With the current bullion price of gold, that works out to over $17 million dollars!

When I read the "only 1500 lbs" I laughed and then Tom’s “over $17 million” I laughed again. Because that was 2007!!

Not long ago I was talking with my nephew and showing him in The Treasure Diver’s Guide the value of wrecks if I remember was based somewhere $35 -$40oz.

I then told him when I got “bitten” in the early 80’s I would calculate his values X10 and that would just make me dream more. That “gold noa” in the Bahamas that wasn’t worth going after because it was only $100k value was now (then) worth $1million!!

So I then showed him how in 2010 gold being $1200 an oz that that little wreck is now worth $3 million, and since, is now worth $3,675,000!!!

So then I flipped to a big wreck in the book valued at something like 12 million and said, You can do the math!!
$441,000,000!!! approx

So today that “only 1500 lbs” of gold is worth approx $32 Million USD!!!!
In Bullion value…
And silver over $43 an oz!!!!!!!! 22 tons of silver left on the 1715 Corrigan's wreck?
$30,895,603USD approx - bullion

So I guess the upside is, the longer it takes us to find these treasures the more valuable they have rapidly become!!

 

[ivan salis]

but the down side is * it now cost more to look for them -- if you can even get a wreck harvesting permit that is * plus the dollars now buy much much less than back then .--still yep their worth more now.

 

[bronzecannons]

And the upside is: since that time the mag, side scan, sub bottom, metal detecting, positioning, etc. TECHNOLOGY has greatly increased, therefore, making it much easier to pinpoint and recover those lost targets/items!
TW

 

[Au_Dreamers]

And the upside is: since that time the mag, side scan, sub bottom, metal detecting, positioning, etc. TECHNOLOGY has greatly increased, therefore, making it much easier to pinpoint and recover those lost targets/items!
TW

 

[FISHEYE]

Gold and silver at melt value from wrecks is worth alot right now,but historic value is worth even more.1 problem.You cant just dump all the gold and silver all at one time on the market,otherwise it will de value itself.So as a result it takes you 10 to 20 years to sell it all off.Meanwhile the melt value still keeps going up making it worth even more.So you have 2 choices.Sell all the gold and silver at melt value and get cash in hand real quick or sit on it for the next 10 to 20 years and get more for it from collectors and museums at a much higher price.Anything can happen in the next 10 to 20 years.You could die.The economy could totally crash.So what would you do?

 

[Au_Dreamers]

Gold and silver at melt value from wrecks is worth alot right now,but historic value is worth even more.1 problem.You cant just dump all the gold and silver all at one time on the market,otherwise it will de value itself.So as a result it takes you 10 to 20 years to sell it all off.Meanwhile the melt value still keeps going up making it worth even more.So you have 2 choices.Sell all the gold and silver at melt value and get cash in hand real quick or sit on it for the next 10 to 20 years and get more for it from collectors and museums at a much higher price.Anything can happen in the next 10 to 20 years.You could die.The economy could totally crash.So what would you do?

Treasure rich, cash poor- I know of some people in that situation.

Me personally- I'd die on a pile of silver and gold!!

Now if we're talking about finding say one ship with 1500 lbs of gold and not parts of the 1715 fleet over years to me it's like a 50 million dollar lottery. Lump some cash option or annuity? Does it really matter??

Mel’s genius was selling shipwreck artifacts for retail jewelry prices…

One of my life mottos is; I’m not greedy, I like a nice healthy piece of pie, but I don’t need the whole thing.

Heck I paid for two friends to get scuba certified and bought them gear just so I could have dive partners! Too bad the internet wasn’t like it is today, I could have just hooked up with you guys and split the treasure!!