“Black Swan” Shipwreck, Odyssey Marine Exploration
No, it is not a publicity stunt for Pirates of the Caribbean 3, which incidentally hits theatres this Thursday. Researchers have uncovered 17 tons worth of 400-year-old silver and gold coins worth an estimated $500 million, the richest shipwreck treasure in history, The Associated Press reports.
Researchers from Odyssey Marine Exploration, a Florida-based company that specializes in salvaging projects of this kind, located the shipwreck in the Atlantic Ocean. They returned to the U.S. last Friday by plane with 500,000 coins in tow.
The exact location of the site is undisclosed by the company for security reasons. Odyssey did release that the location was beyond territorial jurisdiction of any country; the company sought and had been granted exclusive rights to the site by a federal judge earlier this year. It is surmised, however, that the ship is a 400-year-old English vessel based on the fact that the area is a hotbed for colonial-era shipwrecks.
After being granted the rights to the area, Odyssey undertook the salvaging of the shipwreck, calling the project, “Black Swan.” The company ensures it has taken the greatest caution in keeping the remains intact, viewing the ship to have “immense historical significance.”
The 500,000 coins salvaged from the wreck are expected to collect $1000 apiece from investors and collectors. As the value of coins is based on the rarity and condition of a coin, these are expected to yield high prices. The company is ensuring these premium prices with a controlled release of the coins into the market.
Posted by Kiki Namikas
To read more about this story and other projects Odyssey has undertaken, read the full article at:
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