Yes, that is correct. Gold does not oxidize like silver does. The gold coins recovered from the 1715 wrecks are in mint condition.
That's what I would expect. On the other hand, I could see abrasion damaging them after being submerged a long time, but the article specifically states that these coins were shielded from that.
All I want is one I bet theres trillions in gold and silver in the oceans..Trillions also in the dirt just dropped coins
That sentiment certainly gives hope to all treasure hunters in the world. But depending on one's interpretation, this might put a damper on it:
https://en.wikipedia.org/wiki/Gold_reserve
"The World Gold Council estimates that all the gold ever mined totaled 190,040 metric tons in 2019 but other independent estimates vary by as much as 20%. At a price of US$1,250 per troy ounce, reached on 16 August 2017, one ton of gold has a value of approximately US$40.2 million. The total value of all gold ever mined would exceed US$7.5 trillion at that valuation and using WGC 2017 estimates."
Silver - Visualized in Bullion Bars
This infographic shows all the Silver ever mined throughout history. Silver price is currently hovering around $30 / troy oz. When Silver price hits $31.10 / troy oz each gram of Silver will be exactly $1. Silver is usually measured in Troy Ounces. A Troy Ounce is about 1.09 regular Ounces.
All Silver Mined in History - 1,411,475 T
The historical cumulative Gold to Silver production ratio is 1:10.7. The price ratio of Silver to Gold is currently around 1:50.
So if we assume the above numbers are accurate and start with $7.5 trillion worth of gold that has ever been mined, and then do some quick math for the silver based on the data above--and keeping in mind the Order of Operations we learned as kids, we get:
1,411,475 tons of silver * 2000lbs per ton = 2,822,950,000lbs of silver * 454 grams per lb. = 1,281,619,300,000 grams of silver * 1 dollar per gram = $1,281,619,300,000.
Then we add $7,500,000,000,000 worth of gold to $1,281,619,300,000 worth of silver and get a combined value of $8,781,619,300,000 worth of gold and silver that has ever been mined in the history of the world. That means if trillions (plural) of dollars of lost gold and silver are there waiting to be found, at least 22.78% of all the gold and silver ever mined has been lost throughout history, i.e. $2,000,000,000,000/$8,781,619,300,000. And that would include the coins that were minted from said gold and silver, in addition to gold and silver artifacts that have been created throughout history. And since there is numismatic value to coins and Antiques Roadshow value for artifacts that exceeds their precious metals weight, that number will be higher or lower depending on the ratio of lost gold and silver:lost gold and silver coins and artifacts.
Now y'all know it's been a very slow day for me. But hey, fun with math, people! I'm hoping to find my share of that loot.
