You are browsing the archive for Odyssey Marine Exploration.

by admin

The SS Gairsoppa and the Great Silver Treasure

May 16, 2017 in Books, Coins, Collecting, Education, History, News, Numismatica, Numismatics, Opinion, Precious Metals, Ship Wrecks, Silver, Silver Coins, Treasure, Treasure Hunting, World Coins

By: Dennis Tucker News.CoinUpdate.com (Coin Update News)

In his richly illustrated new book The SS Gairsoppa and the Great Silver Treasure, Q. David Bowers explores the cultural scene and political and military developments that led up to the Second World War. Bowers, one of America’s preeminent historians, starts with the aftermath of the world conflict of 1914 to 1918. He colorfully describes the fabric of life in the United States and international events through the 1920s and 1930s. Then: the eruption of fresh hostilities in 1939 and immersion in a new global war. Ultimately Bowers’s focus is the 1941 maritime loss of a massive shipment of silver,… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

Share Button

by admin

Spain Lays Out Silver Won from U.S. Treasure-Hunters

June 14, 2014 in Antique Coins, Archaeology, Coins, Museums, News, Numismatica, Numismatics, Precious Metals, Rare Coins, Ship Wrecks, Silver, Silver Coins, Spain Coins, Treasure, Treasure Hunting, World Coins

By: Naharnet Newsdesk. June 13th, 2014. (http://www.naharnet.com/)

Spain has proudly put on show tens of thousands of silver coins from a 19th-century shipwreck that it won back in court from U.S. treasure hunters.

The country’s soon-to-be king, Felipe, and future queen Letizia on Thursday launched the exhibition in central Madrid celebrating the return of the sunken treasure to Spain.

They viewed treasures and documents that tell the story of how British warships blew up the Nuestra Senora de las Mercedes, sending its precious cargo to the bottom of the sea.

The highlight of the show, in the basement of Madrid’s recently reopened National Archaeological Museum, is a glass case containing heaps of more than 30,000 tarnished silver coins.

The cargo came to Spain in 2012 after a five-year legal battle with Odyssey, the U.S. company that hauled it up two centuries after it sank.

Full article at the source>

Share Button

by admin

Recovery of shipwreck gold “beyond expectations”

June 5, 2014 in Antique Coins, Coins, Gold, Gold Bullion, Gold Coins, News, Numismatica, Numismatics, Precious Metals, Rare Coins, Ship Wrecks, Treasure, Treasure Hunting, World Coins

By: Kathy Lynn Gray. June 5th, 2014. The Columbus Dispatch (http://www.dispatch.com/)

Gold and other valuables from outside the hull of the SS Central America have been retrieved, and a crew has begun bringing up nuggets, ingots and coins from inside the shipwreck, the recovery company reported yesterday. 

“Early-recovery results are well beyond our expectations,” CEO Greg Stemm told shareholders at Odyssey Marine Exploration’s annual meeting in Tampa, Fla. “Nearly every day of seafloor operations produces new discoveries and recoveries of gold in a dazzling array of different forms.”

The ship sank off the coast of South Carolina during a hurricane in 1857, taking 428 people to their deaths and leaving millions of dollars worth of personal and commercial gold on the floor of the Atlantic Ocean. 

Full article at the source>

Share Button

by admin

First Finders of Famous S.S. Central America Treasure Accuse Odyssey Marine of Trespassing, Ask Federal Marshals to Seize Recovered “Ship of Gold” Items

May 16, 2014 in Antique Coins, Coins, Gold, Gold Bullion, Gold Coins, History, News, Precious Metals, Press Releases, Ship Wrecks, Treasure, Treasure Hunting

For immediate release
May 16, 2014

News media contacts:

Mike Lorz. on behalf of Columbus-America Discovery Group
Office: (614) 443-1877  Cell: (614) 395-3884

Donn Pearlman, on behalf of Columbus-America Discovery Group
Phone: 702-868-5777

First Finders of Famous S.S. Central America Treasure Accuse Odyssey Marine of Trespassing, Ask Federal
Marshals to Seize Recovered “Ship of Gold” Items

(Norfolk, Virginia) — Federal court motions claiming misappropriation and trespass were filed on Thursday, May 15, 2014, against a Florida salvage company by the Ohio-based group that first discovered and recovered Gold Rush-era sunken treasure from the S.S. Central America, the fabled “Ship of Gold” that sank in 1857.

Columbus-America Discovery Group (CADG) claims that Odyssey Marine Exploration, Inc. is in violation of the law.  CADG is asking that U.S. Marshals immediately seize all the treasure recently salvaged by Odyssey from the Central America.  The recovered items currently are in Charleston, South Carolina, according to the court motions.

The S.S. Central America, a 278-foot long sidewheel steamer, was sailing from Panama to New York City with tons of California Gold Rush-era coins and ingots when it sank in a hurricane on September 15, 1857.  There were 447 passengers and 101 crew members; 425 of them died when the ship sank.

In addition to the human tragedy, the loss of the expected gold in New York led to the financial “Panic of 1857” that resulted in the closings of some banks and factories. A 1992 Life Magazine cover story proclaimed the recovered gold, “The greatest treasure ever found.”

During a scientific expedition in 1987, CADG originally located the wreck site in the Atlantic Ocean about 160 nautical miles off the coast of South Carolina and subsequently recovered thousands of gold coins and hundreds of gold ingots.  CADG claims it still has the exclusive rights to that site and any retrieved gold and artifacts.  CADG wants the federal court to reassert the company’s protected rights to any additional treasure found at the site.

The motions filed Thursday with the United States District Court, Eastern District of Virginia in Norfolk, Virginia, ask that federal marshals seize the latest items and any future items recovered by Odyssey and turn them over to CADG.  The items are believed to still be on board the vessel OSV Odyssey Explorer now docked in Charleston, South Carolina, according to CADG’s court filings.

“Columbus-America Discovery Group, which has done several previously impossible feats in the deep ocean and has been sued and challenged continuously for more than 20 years, is still fighting for its right to the deep ocean shipwreck site of the SS Central America,” said Milt Butterworth, CADG President.

“We are asking the court to uphold our permanent injunction, and allow CADG to fulfill its original purpose:  to conduct multi-disciplinary research and develop sophisticated deep-ocean technology, and to locate, explore, and recover the remains of the S.S. Central America.,” Butterworth stated.

One of the court motions states: “On or about April 14th an expedition aboard the OSV ODYSSEY EXPLORER…intruded into the injuncted sea area without the Court’s knowledge and permission….”

The motion also states: “In order to protect its Court awarded rights and its maritime lien interest in any gold or artifacts recovered from the wreck of the S.S. CENTRAL AMERICA, it is imperative that CADG be authorized by the Court to have the U.S. Marshal execute a warrant in rem against these same artifacts….”

CADG claims that Recovery Limited Partnership and its contract-salvor Odyssey Marine Exploration “and any person aiding, abetting and/or assisting the violation of the rights and protections of CADG are interlopers, have engaged in acts of conversion, misappropriation of tangible and intellectual property rights, trespass, violation of CADG’s injunctive, possessor, salvage and other rights, and have violated the permanent injunction.”
###

Share Button

by admin

Gold Recovered During First Reconnaissance Dive Indicates SS Central America Has Not Been Disturbed Since 1991

May 5, 2014 in Antique Coins, Coins, Collecting, Gold, Gold Coins, Gold Eagles, History, News, Numismatica, Numismatics, Precious Metals, Press Releases, Ship Wrecks, Treasure, Treasure Hunting, USA Coins

May 5, 2014. From Oddysey Marine Exploration. (http://ir.odysseymarine.com)

Expedition to Conduct Pre-Disturbance Survey, Archaeological Excavation, Scientific Experiments and Recover Remaining Gold Now Underway

TAMPA, Fla., May 5, 2014 (GLOBE NEWSWIRE) — Odyssey Marine Exploration, Inc. (Nasdaq:OMEX), a pioneer in the field of deep-ocean exploration, recovered nearly 1,000 ounces of gold during the first reconnaissance dive to the SS Central America shipwreck site on April 15,2014.

Recovered gold included five gold ingots and two $20 Double Eagle coins (one 1857 minted in San Francisco and one 1850 minted in Philadelphia). The gold ingots were stamped with assayer’s marks and weights that range from 96.5 to 313.5 troy ounces.

The two-hour reconnaissance dive was conducted during the transit of Odyssey’s research vessel, the Odyssey Explorer, from the United Kingdom to Charleston, South Carolina, to mobilize for the project, which is being conducted under contract with the receiver of Recovery Limited Partnership (RLP). RLP director of operations Craig Mullen and RLP chief scientist/historian Bob Evans accompanied the Odyssey team for the dive operation. Mr. Evans previously served as chief scientist, historian and later as curator for the initial Central America recovery operations conducted between 1988 and 1991.

During the dive, Odyssey’s ROV ZEUS flew over the shipwreck to assess the current condition of the site. Gold ingots and other artifacts were clearly visible on the surface of the site during the dive and no excavation was required for their removal. Given the reconnaissance purpose of the dive, only five gold ingots, two gold coins, a bottle, a piece of pottery, a sample of the shipwreck’s wooden structure, and an element of a scientific experiment that was left at the site more than 20 years ago were recovered. The positions of the recovered artifacts were documented for archaeological purposes and will be noted in the detailed site plan that is being created. The archaeological excavation of the site will be undertaken once the pre-disturbance survey provides detailed documentation of the site.

“This dive confirms for me that the site has not been disturbed since 1991, when I was last there,” said Bob Evans chief scientist/historian for RLP.

RLP director of operations Craig Mullen added, “The skill exhibited and results achieved during the initial reconnaissance dive reinforces our belief that the Odyssey team was the absolute best choice for this project. In addition to the cargo recovery operation, we plan to collect deep-ocean biological samples for Dr. Timothy Shank, a deep-ocean biologist and head of the Molecular Ecology and Evolution Laboratory at Woods Hole Oceanographic Institution. Our objective is to document and provide Dr. Shank with samples of species that have returned to the site since previous operations ended. Odyssey’s documentation capabilities will contribute significantly to scientific understanding of deep-ocean biological processes. This continues a history of supporting scientific research at the site.”

Odyssey was selected for the project by Ira Owen Kane, the court-appointed receiver who represents Recovery Limited Partnership (RLP) and Columbus Exploration LLC (CE). The contract has been approved by the Common Pleas Court of Franklin County, Ohio, which has given Mr. Kane responsibility with overseeing the recovery project.

The archaeological excavation, valuable cargo recovery and ship-board conservation will be conducted and underwritten by Odyssey on behalf of RLP. In return, Odyssey will receive 80% of recovery proceeds until a fixed mobilization fee and a negotiated day rate are paid. Thereafter, Odyssey will receive 45% of the recovery proceeds.

About the SS Central America

The SS Central America was an 85-meter (280-foot) wooden-hulled, copper-sheathed, three-masted side-wheel steamship launched in 1853 as the SS George Law. Operating during the California Gold Rush era, the ship was in continuous service on the Atlantic leg of the Panama Route between New York and San Francisco, making 43 round trips between New York and Panama. The Central America was caught in a hurricane and sank 160 miles off the coast of South Carolina on September 12, 1857. When she was lost, the SS Central America was carrying a large consignment of gold for commercial parties, mainly in the form of ingots and freshly minted U.S. $20 Double Eagle coins. Because of the large quantity of gold lost with the ship, public confidence in the economy was shaken, which contributed to the Panic of 1857.

The Columbus-America Discovery Group, acting as agent for RLP, confirmed the location of the Central America shipwreck site in September 1988 at a depth of 2,200 meters (7,200 feet). Recovery operations were conducted over a four-year period (1988-1991) and a large quantity of commercial gold was recovered from approximately 5% of the shipwreck site during more than 1,000 hours of bottom time.

Odyssey Marine Exploration has been awarded the exclusive contract to conduct an archaeological excavation and recover the remaining valuable cargo from the SS Central America shipwreck.

About RLP

Recovery Limited Partnership (RLP) was organized in 1985 as an Ohio limited partnership to finance the SS Central America project. Columbus-American Discovery Group LLC (CADG), as agent for RLP, initiated an admiralty action in the United States District Court of the Eastern District of Virginia to establish ownership of the shipwreck and all of its contents. After more than a decade of litigation, the court ruled that CADG owned 92.5% of the recovered gold.

Ira Owen Kane was appointed as the receiver for Recovery Limited Partnership and Columbus Exploration LLC by the Common Pleas Court of Franklin County, Ohio. At the direction of the court, the goal of the receiver is to preserve and operate the business of RLP and Columbus Exploration for the benefit of the investors and their creditors, and to do so by initiating the operations necessary to recover valuable cargo and cultural heritage items that remain on the SS Central America shipwreck site.

About Odyssey Marine Exploration

Odyssey Marine Exploration, Inc. (Nasdaq:OMEX) is engaged in deep-ocean exploration using innovative methods and state of-the-art technology for shipwreck projects and mineral exploration. For additional details, please visit www.odysseymarine.com. The company also maintains a Facebook page at http://www.facebook.com/OdysseyMarine and a Twitter feed @OdysseyMarine. For additional details on Odyssey Marine Exploration, please visit www.odysseymarine.com.

Forward Looking Information

Odyssey Marine Exploration believes the information set forth in this Press Release may include “forward looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. Certain factors that could cause results to differ materially from those projected in the forward-looking statements are set forth in “Risk Factors” in Part I, Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2013, which was filed with the Securities and Exchange Commission on March 17, 2014. The financial and operating projections as well as estimates of mining assets are based solely on the assumptions developed by Odyssey that it believes are reasonable based upon information available to Odyssey as of the date of this release. All projections and estimates are subject to material uncertainties, and should not be viewed as a prediction or an assurance of actual future performance. The validity and accuracy of Odyssey’s projections will depend upon unpredictable future events, many of which are beyond Odyssey’s control and, accordingly, no assurance can be given that Odyssey’s assumptions will prove true or that its projected results will be achieved.

CONTACT: MEDIA CONTACT:
         Liz Shows
         Odyssey Marine Exploration, Inc.
         (813) 876-1776 x 2335
         lshows@odysseymarine.com
         

         INVESTOR RELATIONS CONTACT:
         Ron Both
         Liolios Group, Inc.
         (949) 574-3860

         OMEX@liolios.com
Share Button

by admin

Sunken treasure reminds investors about value

July 29, 2013 in Gold, History, Investing, News, Precious Metals, Ship Wrecks, Silver, Treasure, Treasure Hunting

Eric McWhinnie, Wall St. Cheat Sheet  July 27, 2013 (http://www.usatoday.com)

It’s been a brutal year for precious metals. Despite logging 12 consecutive annual gains, gold and silver are among the worst performing assets this year. Many analysts have lowered price targets, and proclaimed once again that the great bull market is dead. However, precious metals are still highly sought after, even at three miles below the ocean’s surface.

Odyssey Marine Exploration, a world leader in deep-ocean shipwreck exploration, recently announced it recovered more than 61 tons of silver bullion from the North Atlantic this month. The haul consists of 1,574 silver ingots, weighing around 1,100 ounces each, or almost 1.8 million troy ounces in total. The treasure sets a new record for the deepest and largest precious metal recovery from a shipwreck.

Full article at source>

Share Button
Translate »