The Lords of Fortune company to recover gold from RMS Republic 1909 shipwreck

ByVictoria

The R.M.S. Republic sank Jan. 24, 1909, after a collision in dense fog with the S.S. Florida off the coast of Nantucket Island, Massachusetts.

The Lords of Fortune company has identified two cargoes — a $25 million Tsarist gold shipment and an $800,000 U.S. Navy shipment, both 1909 face values when gold was $20.67 per ounce.

With a successful recovery, an $8 million investment should return $200 million conservatively, according to Capt. Martin Bayerle of Lords of Fortune LLC.

Add the Russian gold, 45 tons of United States gold $10 eagles on melt value alone, and you exceed 100 times, he said.

Source – Coin World

This is amazing! Wondering if there’s as much as they say there is. Hopefully there isn’t too much damage to the gold from the salt water. Can’t wait to see pictures or video of the excavation. -V.

Similar Posts

  • /

    Gold rate in major cities in India

    ByVictoria
    0 Comments

    The second-largest consumer of gold in the country is India, after China. The country meets majority of its demand for gold through imports, along with locally recycled bullion.

    Source – ABP News

    All cities with gold rates listed in the link

  • /

    Barrick Gold signs new agreement with Mali’s government

    ByVictoria
    0 Comments

    Barrick Gold (NYSE:GOLD) +3.2% in Wednesday’s trading to its highest in more than two months following a Reuters report that the miner has signed a new agreement with Mali’s government, which would end the dispute over the company’s mining assets in the country.

    As part of the new deal, Barrick (GOLD) reportedly will pay 275B CFA francs, or $438M, to the government in return for the release of detained employees and seized gold, allowing for the restart of operations at the Loulo-Gounkoto mine.

    Source – Seeking Alpha / Reuters

  • /

    Gold down 1.2%

    ByVictoria
    0 Comments

    Spot gold was down 1.2% at $2,882.49 an ounce as of 09:42 a.m. ET (1442 GMT), after hitting its lowest level since February 12 earlier in the session. Prices hit a record high of $2,956.15 on Monday, driven by safe-haven flows.

    “The direction of gold is very evident, and these short-term bumps and some profit taking is just a normal part of the cycle,” said Alex Ebkarian, chief operating officer at Allegiance Gold.

    Spot silver retreated 0.5% to $31.67 an ounce, platinum fell 0.9% to $957.10 and palladium dropped 0.9% to $917.96.

    Source – Reuters

  • /

    A-Mark Precious Metals stocks highlighted by Night Watch Investment Management

    ByVictoria
    0 Comments

    On January 7, 2025, A-Mark Precious Metals, Inc. (NASDAQ:AMRK) stock closed at $27.50 per share with a market capitalization of $637.563 million.

    “As a long-biased fund, we prefer to own various countercyclical companies to lower the risk of our portfolio. At the beginning of the year, we identified a pawn store operator and a wholesaler / retailer of precious metals called A-Mark Precious Metals, Inc. (NASDAQ:AMRK) as interesting long-term opportunities that simultaneously provided a hedging function to our portfolio. We have exited our position in AMRK during the year. We believed that economic uncertainty and higher precious metals prices would spark renewed consumer demand for physical gold and silver coins. This demand did not materialize and we therefore saw no immediate catalyst in AMRK.” stated Night Watch Investment Management in its Q4 2024 investor letter

    Source – Insider Monkey

  • /

    Gold prices still going strong

    ByVictoria
    0 Comments

    “We believe the demand is across the board. We see institutions either adding to or establishing long term strategic asset allocation type positions. We see individual investors doing the same. We see a certain amount of FOMO. There’s a fear of missing out whenever the price gains momentum to the upside” George Milling-Stanley, Chief Gold Strategist at State Street Global Advisors, told FOX Business.

    Source – FOX News