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The Shipwreck Treasure Worth $20 Billion

Oceanliner Designs・2 minutes read

Numerous ships carrying vast amounts of treasure, like the SS City of Cairo and the SS Central America, sank over the centuries, leading to legal battles over ownership and salvage operations to recover lost riches still remaining at the ocean's depths. The San Jose, a Spanish galleon sunk in 1708, carrying billions in treasure, remains a subject of ownership disputes between the Colombian and Spanish governments and indigenous groups, with plans to raise the wreck by 2026 for recovery and public display.

Insights

  • The history of sunken ships like the SS City of Cairo, Cino Shagas, SS Central America, and San Jose reveals a fascinating narrative of lost treasures worth billions, sparking intense legal disputes over ownership and salvage rights among nations and private entities.
  • The ongoing debates surrounding the ownership of sunken treasures, such as the San Jose's gold coins, highlight complex ethical dilemmas involving national heritage, indigenous rights, and economic interests, with the impending salvage operations raising questions about the appropriate handling and display of historically significant artifacts recovered from the ocean depths.

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Recent questions

  • What is the significance of gold in history?

    Gold has been a captivating element for centuries, especially during the Age of Exploration when vast amounts were discovered, looted, and transported back to the mother country by ship. It holds immense value and has been a symbol of wealth and power throughout history, driving explorers and treasure hunters to seek out hidden treasures at great depths in the ocean.

  • How were valuable treasures transported in the past?

    Valuable treasures were often transported by ships during historical periods, such as the Age of Exploration. Ships like the SS City of Cairo, the Cino Shagas, the SS Central America, and the San Jose carried immense amounts of treasure, including gold, silver, diamonds, rubies, and pearls. Unfortunately, many of these ships met tragic fates, sinking to the ocean floor and leaving their treasures undiscovered for years.

  • What challenges do salvage operations face in recovering sunken treasures?

    Salvage operations face numerous challenges when recovering sunken treasures from the ocean floor. The wrecks are often located at great depths, making it difficult and dangerous for divers to access them. Additionally, legal battles over ownership rights can arise, leading to disputes between governments and private expedition groups. Despite these challenges, salvage operations aim to excavate valuable treasures while preserving historical artifacts for public learning.

  • Why do treasure hunters seek out sunken shipwrecks?

    Treasure hunters are drawn to sunken shipwrecks like the Cino Shagas and the San Jose due to the vast treasures they carried and the mystery surrounding their exact locations. These wrecks hold valuable artifacts and precious metals like gold and silver, making them lucrative targets for those seeking to uncover lost treasures from centuries past.

  • What is the current status of recovering lost treasures from sunken ships?

    The recovery efforts of sunken ships like the SS City of Cairo, the SS Central America, and the San Jose are ongoing, with salvage operations aiming to excavate valuable treasures from the ocean floor. Legal battles over ownership rights continue to complicate these efforts, as governments and private groups dispute who has the right to claim the recovered treasures. Despite these challenges, plans are in place to raise wrecks like the San Jose before 2026, with the goal of recovering lost treasure and showcasing preserved artifacts for public viewing.

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Summary

00:00

Lost Treasure Ships of the Deep

  • Gold has been a captivating element for centuries, especially during the Age of Exploration when vast amounts were discovered, looted, and transported back to the mother country by ship.
  • Numerous ships carrying tons of treasure went missing or were destroyed over hundreds of years, leading to some being found and others remaining undiscovered at the ocean's depths.
  • The SS City of Cairo, a passenger ship built during World War I, met its tragic fate in 1942 when it was torpedoed and sank during World War II, carrying 2,000 boxes of silver coins valued at $50 million today.
  • The SS City of Cairo's wreckage was located in 2011 at a depth of over 5 km, leading to a salvage operation that successfully retrieved most of the silver after seven decades.
  • The Cino Shagas, a sailing cargo ship from the 1500s, was sunk in a battle during the Anglo-Spanish War, carrying a fortune of diamonds, rubies, pearls, and silver coins valued at $20 billion today.
  • The exact location of the Cino Shagas wreck remains unknown, attracting treasure hunters due to its depth and the vast treasure it was carrying.
  • The SS Central America, known as the "Ship of Gold," sank during a hurricane in 1857, losing nine tons of gold worth $150 million, leading to legal battles over the recovered treasure.
  • The recovery efforts of the SS Central America have only excavated 5% of the wreck, with tons of gold still remaining in the hull at the ocean's bottom.
  • The San Jose, a Spanish galleon serving as a treasure Fleet flagship, was sunk in battle in 1708, carrying 7 million Spanish pesos worth $4 billion today, with efforts to secure the treasure leading to disputes over ownership.
  • The wreck of the San Jose was found in Colombian waters in 1981, leading to legal battles over ownership between the Colombian government, Spanish government, and private expedition groups, with the treasure still remaining at the ocean's depths.

14:40

Colombian government debates San Jose treasure ownership.

  • Some parts of the Colombian government claim the San Jose treasure as part of the country's heritage, while others suggest it should be kept by the nation's bank. Indigenous groups also seek a share due to the gold being plundered from their ancestors. The wreck is set to be raised before 2026, with plans unclear, aiming to recover lost treasure and showcase preserved artifacts for public learning. The Colombian Navy guards the wreck, protecting thousands of gold coins on the ocean floor.
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