‘Holy Grail’ Shipwreck and its $20 Billion Treasure to be Salvaged

(TargetDailyNews.com) – As of November 9th, gold’s one-ounce spot price is just shy of $2,000. The same weight of silver is about $23. Newly minted bullion of either precious metal is guaranteed to fetch those prices, but if one has possession of something older, the piece’s numismatic value can be exponentially higher.

According to the latest reports, the “Holy Grail” of ancient shipwrecks containing a booty worth as much as $20 billion is in the process of being prepped for recovery. The vessel, which is said to be resting peacefully on the ocean floor not far off the coast of the Columbian city Cartagena, is reportedly a Spanish treasure ship that went down in the 1700s.

Raising a boat from a 2,000-foot-deep watery grave would normally not be cost-effective, but if it has as much in its hold as researchers have said, its on-shore benefit will far outweigh the cost to get it to the surface. For the sake of clarification, Colombian authorities are not suggesting that divers have stumbled on a few chests of ancient coins, which would still likely be worth an impressive sum; the pile of booty is far larger.

According to what they’ve told reporters, some 200 tonnes of treasure is waiting to be recovered. Emeralds and silver are said to be inside the galleon along with as many as 11 million gold rounds.

But the recovery is not as simple as engineering a way to haul everything to the surface. Once everything is on dry land, the matter of ownership comes into play. In 2015, Colombia’s government announced that their navy’s divers had discovered the wreckage. At the time of their supposed finding, the nation’s president called it “the most valuable” discovery in all of human history.

After he announced plans to raise it from the depths, a stateside salvage consortium came forward and claimed to have already found the wreck in the early 1980s. An international lawsuit between the two entities is in process.

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