In his latest Silver Update, BrotherJohnF discusses Odyssey Marine Expedition’s latest haul- 61 tons of silver recovered from the SS Gairsoppa off the coast of Ireland- recovered in a record 3 miles below the surface.
Silver Update: Silver Salvage is below:

War Bird

 

 

Silver Buffs Generic Add2

  1. Wow, that was an especially fascinating segment and BrotherJohn’s astute observations were immensely encouraging. That the Brits commissioned this salvage at this low-point in silver’s banknote exchange ratio and coincident paucity in circulation says a LOT.

    Knowing PRECISELY where that ship was for 60 years AND that it was sunk with that cargo of silver, means the recovery cost was prohibitive … even when silver was in the 30 to 40 range … up until now. Why NOW, when silver is well BELOW 40, should the Brits endure the expense of the salvage? Is there an expectation of a far GREATER momentum BEYOND 40?

    And also … I have to wonder at the urgency of commissioning the operation. Why not 5 or so years ago, during a period when economic conditions were a bit more accommodative and prices of oil and wages were less cumbersome?

    Oh man! This is a VERY encouraging portent!

  2. I get what you are saying but did the UK Gov pay for this salvor operation or just take their 80% off the top as a royalty?  If the salvor ship payfor the business expenses then share 80/20 with the government?  It’s unclear but I’m guessing that HRH didn’t fork over a farthing to accomplish this.
    The other interesting part was the de-silvering of the British coins from .925 to .50 to 0%  Much like we did  going from 90 to 50 to 0 in a series of years ending in 1947  They were 17 years ahead of us in that action.
    But the fact that the UK was very interested in silver was telling. this is a large scale equivalent of culling mine tailings or garbage dumps for a bit of silver to stick back in the government coffers, or sell to pay some bills. The Brits have been selling the family sterling for decades.  HRH is left eating from the old China. The new China is taking her gold and silver at light speed.
    A Cosmic cumuppance, old bean.  Pip pip Cheerio

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