1K ounces of gold recovered from sunken ship

AP News
Posted: May 05, 2014 2:21 PM
1K ounces of gold recovered from sunken ship

CHARLESTON, S.C. (AP) — An expedition to the wreck of a 19th-century steamship off South Carolina has recovered nearly 1,000 ounces of gold.

It's the first time gold has been retrieved from the S.S. Central America in about 25 years. There were expeditions in the late 1980s and early 1990s that yielded gold worth about $50 million.

But trips have been on hold after investors in Ohio said they provided money and never received any return. A judge cleared the way for the new expedition in March.

Odyssey Marine Exploration of Tampa, Florida, said Monday the gold was recovered last month. It's not exactly known how much gold might still be down there, but a portion of whatever is recovered will go to the investors.

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The S.S. Central America sank in an 1857 hurricane.