Tuesday, 16th November 2004 (2822 views)

A golden treasure trove of lost booty is being returned to the surface as expert archaeologists near the end of excavation work on the SS Republic in New Orleans.

The ship, which crashed in 1885 carrying as much as $400,000 in gold and silver coins, has just been rediscovered as part of a National Geographic Special television documentary.

To date around $100,000 worth of treasure has been recovered, comprising a market value worth a staggering $70 million.

Greg Stemm, who heads up the firm behind the discovery and who has helped co-ordinate the show, says that his next target is the HMS Sussex, a British Royal Navy warship that sank in 1694.

Mr Stemm says the haul may be the richest shipwreck in the world, potentially yielding $1 billion.

 

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