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Silver Coins Recovered from WW2 Shipwreck

Posted on April 17th, 2015 by Goldman Buyer

Fifty-million dollars in silver coins were recovered by marine salvage experts from the SS City of Cairo, a ship sunk by a German submarine in 1942. The ship was transferring the money from India to London to help finance Britain’s efforts in World War 2.

The wreck is 400 miles south of St. Helena in the South Atlantic, and lies 5,150 meters — a world record. The ship was broken in two and buried in the silt, providing a challenge for Deep Ocean Search, the firm in charge of the salvage.

The SS City of Cairo carried 296 passengers and 100 tons of silver, and was sailing from Mumbai to Britain via Cape Town and Recife. A German U-boat spotted it and fired two torpedoes, sinking it. 192 of the passengers survived with the help of lifeboats and passing ships.

Deep Ocean Search started looking for the wreck in 2011, and although we are just hearing about the recovery now, the operation finished in 2013. The firm took its cut of the $50 million, while the remainder went back to Britain’s Treasury, its original owner.

Courtesy of Reuters

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