Question:

SS Republic Shipwreck

by zarnigar  |  10 years, 8 month(s) ago

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The SS Republic was a side-wheel steamship that sunk in a hurricane off the coast of Georgia in October 25, 1865. At the point it went down it was known that the cargo aboard was worth a small fortunate at the time but no one had been able to locate the exact point of the wreck.

October 18, 1865 the cargo was $400,000 worth of gold and silver $10-$20 coins intended for the use of hard currency after the war, had been loaded aboard the ship with a number of passengers going to New Orleans. 7 days later the mighty steamship had been lost to the ocean with all her cargo but crew and passengers did manage to escape aboard life rafts and were rescued a short time later.

People searched for the wreck for decades but it wasn't until August 2003, that the wreck was discovered by Odyssey Marine Exploration Inc. in 1,700 feet of water, 100 miles Southeast of Savannah, Georgia. It wasn't long before the wreck started to give up its contents to the eager treasure finders.

More than 750 gold coins have been recovered. 60% of the find is the $20 gold coins, while the other part of the find was the $10 double eagle coins. Shortly after discovering the coins, another 900 silver seated Liberty half dollars were discovered as well. They were not among the listed cargo aboard the ships manifest at the time of its sinking but still divers. At the time of the discovery divers were recovering about 1,000 coins a day.

Experts claim the treasure to be estimated between $120 million to $180 million US in today's currency.

 Tags: Republic, Shipwreck, SS

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