Shipwreck gold hunt for $86m

Deep-sea exploration firm Odyssey Marine Exploration plans to go underwater treasure hunting on the wreck of the SS Central America, hoping to bring $86 million in gold to the surface.

The SS Central America, or ‘The Ship of Gold’, as it was known, was a steamer that sunk during a hurricane on its route from Central America to the eastern coast of the US in 1857, pulling down with it over 550 passengers and 14,000 kg of gold.

News that the ship sunk cast the American people directly into the ‘Panic of 1857’, which is considered now the first world economic crisis.

The wreck now lies 160 miles off the coast of South Carolina.

‘The SS Central America is one of the greatest shipwreck stories of all time,’ Odyssey’s CEO said in a statement. ‘We’re very familiar with mid-19th century paddlewheel shipwrecks, as well as the range of artifacts that are likely to be on the site.’

Skeptics, however, say that the crew will come back empty-handed as the wreck has already been explored by a treasure hunter, in 1988, who brought $52 million in gold.

The Odyssey Marine Exploration is not at its first treasure hunt mission. In 2013, it successfully recovered 61 tons of silver bullion, the biggest load of treasure ever recovered from a shipwreck, from the British cargo ship SS Gairsoppa.