Gold & silver worth millions of dollars recovered from SS Central America shipwreck

Gold & silver worth millions of dollars recovered from SS Central America shipwreck

Deep-sea divers recovered gold and silver worth millions of dollars from SS Central America shipwreck that was found nearly 200 miles off the coast of South Carolina, reminding people of the California Gold Rush.

Newly released court documents revealed that a treasure trove of gold and silver was recovered from the ruins of 1857 SS Central America at the bottom of the Atlantic Ocean. The documents also revealed that Odyssey Marine has purchased 43 solid gold bars, nearly 1,300 $20-double eagle gold coins, along with thousands more gold and silver coins.

The recovery effort at the SS Central America shipwreck was started in April this year and the effort is expected to continue throughout this summer.

The shipwreck was first found by treasure hunter Tommy Thompson in 1988. The achievement was funded by group of investors from central Ohio. The ongoing search operation is now being directed by a court-appointed receiver of an Ohio company that was once led by Thompson.

After finding the first trove of gold from the shipwreck, Thompson and other investors embroiled in a legal battle over who had rights to the treasure trove. The gold was sold for around $50 million, but none of the investors got a penny. Thompson claimed that the vast majority of the money went toward legal fees and to settle loans.

Thompson has been a federal fugitive ever since August 2012, when a warrant was issued for his arrest. Now, Florida-based Odyssey Marine Exploration owns the rights to conduct a recovery of the remaining treasure from the shipwreck.

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