The Phaserl


U.S. ocean explorer recovers $35m in silver bullion from shipwreck

Silver currently valued in excess of US$35 million, is now being housed in a secure facility in the United Kingdom after being recovered from a British cargo ship that was sunk in World War II.

by Dorothy Kosich,

Tampa, Florida-based Odyssey Marine Exploration announced Monday that it has recovered 61 tons of silver bullion this month from the SS Gairsoppa, a British cargo ship which was sunk by a U-boat torpedo in February 1941.

This latest bullion recovery of 1,574 silver ingots weighing about 1,100 ounces each (80 pounds) or almost 1.8 million troy ounces in total began in late May in the North Atlantic from a depth of 4.7 kilometers (3 miles) setting a new record for the deepest and largest precious metals recovery from a shipwreck.

Including 1,218 silver ingots weighing a total of nearly 48 tons (1.4 million troy ounces) recovered from the SS Gairsoppa in 2012, Odyssey has now recovered 2,792 silver ingots or more than 99% of the insured silver reported to be aboard the Gairsoppa when she sank.

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