"Torpedoed in WWII, Silver Now Recovered" Topic
6 Posts
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Editor in Chief Bill | 17 Apr 2015 11:06 a.m. PST |
The deepest salvage operation in history has recovered a haul of coins that Britain planned to use to fund the fight against Nazi Germany 73 years ago.The SS City of Cairo was carrying 100 tons of silver rupees from India in November 1942 when it was hit by a torpedo from a German U-boat and sank nearly 17,000 feet to the bottom of the Atlantic, reports CNN. Underwater recovery company Deep Ocean Search, working under a contract from the British government, brought up coins worth millions from the record-breaking depth. The 100 tons would be worth about $50 USD million today, and the salvage team's leader tells the BBC a "large percentage" of the coins were reclaimed… link |
zippyfusenet | 17 Apr 2015 11:47 a.m. PST |
Crores of lakhs of rupees! All melted down. Foo. I'd think 100 year old rupees (some must have been that old) would have sentimental value. |
Dan Cyr | 17 Apr 2015 1:39 p.m. PST |
I'd agree with zippy, why were they melted down. An oz of silver is an oz of silver and I'd have thought that they'd be worth a lot more as date coins with history. Dan |
Mute Bystander | 17 Apr 2015 3:10 p.m. PST |
Less volatility, especially if you flood the collector market in a deluge. Governments think short term. Especially right now… |
Virtualscratchbuilder | 18 Apr 2015 7:12 a.m. PST |
It is pre-nuclear age silver so it has greater value than any silver smelted after the first A-bomb test. |
zippyfusenet | 18 Apr 2015 12:21 p.m. PST |
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79thPA | 19 Apr 2015 5:39 p.m. PST |
IMO, there is simply too much silver to get rid of to worry about trying to get any collector's premium out of it. |
Dan Cyr | 19 Apr 2015 8:54 p.m. PST |
The total shipped and salvaged would be hardly noticed in the silver market. Wonder if it had something to do with possible legal claims? Dan |
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