Need Answer

W

Wrecked Diver

Greenie
Oct 7, 2007
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Hi to everyone out there this is my first post.
I need an answer to a question. Has anyone read an article I believe it may have been in the Time Magazine October 25 1993 # 43 edition. I have been to there archives but can't fined the article,
The Race for Sunken Treasure.
I need to know who wrote the article and did it say, {15% or 75%? } of all gold found by man over the last 6,000 years is lying at the bottom of the ocean.

Any help would be great, thanks for your time and help.

All the best.
 

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I've got the "Gold Rush - The Race for The Riches", Brendan I. Koerner, Oct. 4, 1999; US News and World Report. Long shot but is that what your after?
 

Lemme dig, I may have it....Give me a day or two and I will send you private mail....Stan
 

Thanks Guys, the quot or statement I'm after is,

? 15% or 75% ? of all gold found by man over the last 6,000 years is lying at the bottom of the ocean.

It's driving me crazy I would love to know who wrote it.

Again all the best and I hope everyone had a good Easter.
 

Wrecked Diver said:
15% or 75% ? of all gold found by man over the last 6,000 years is lying at the bottom of the ocean.
Click to expand...

The quote is a bit confusing. If it's been found, why is it lying at the bottom of the ocean? Perhaps 75% of all lost gold is lying at the bottom of the ocean. I seriously doubt more than 15% of it has been found and recovered.
 

Hi Don,
Yes I've read that one and I'm not sure who is saying what. There is a big difference between 15% and 75% but I know I've read it in a book or website I know it's out there somewhere.

Thanks for your help.
 

I have heard statements like 1/3! I think it is pretty amazing. Imagine all the gold that was mined in the new world and taken back to spain and other countries, and how much of it was lost to shipwrecks etc. Or even the Gold that was lost during the Gold Rush like the Central America. How about the Republic or ships lost with gold during the Civil War or World Wars I and II! It is really staggering when you start to add it up.

Darren
Darren in NC said:
The quote is a bit confusing. If it's been found, why is it lying at the bottom of the ocean? Perhaps 75% of all lost gold is lying at the bottom of the ocean. I seriously doubt more than 15% of it has been found and recovered.
Click to expand...

Darren, it was found or mined, and then lost in transit due to a shipwreck!
 

Yeah, after reading Don's link, it's a bit clearer. Hatcher's website is basically saying that of all the gold that has been found/recovered, 75% of it was found on shipwrecks. He was apparently trying to give credibilty to his scheme, so who knows how accurate this is. But I believe more is underwater than on land.
 

"The Race for The Riches", 9/26/99, US News and World Report


Hey, I was mentioned in that article. :D

The full story is online here: http://www.usnews.com/usnews/culture/articles/991004/archive_002013.htm

I also believe there was a quote posted at the very end of the movie, Into the Blue, that also dealt with the estimated value of sunken shipwrecks remaining to be found.
 

Hello to everyone again,
Thanks Tom, Darren, Don & Mad4 Wrecks and everyone elce. I have emailed Time Magazin about the book and articl so I should hear back from them in the next few days, I will let you guy how it all works out.
But if anyone fines it that would be great.

Again all the best and I will do a few more posts soon.
 

Hi Mad4wrecks,
Thanks, yes I went through the Time website to and I believe the Magazine was printed for the South Pacific region. I have emailed them and they are going to look it all up for me and get back to me ASAP. Research is more than half the battel, but what a great job to have or be involved in. I'm very lucky.

All the best.
 

The Geldermalsen was one of 6 ships commissioned in 1746 by the Zeeland Chamber, the second most powerful of the six chambers of the VOC. The ships were merchant vessels which the VOC used for long-distance trade to the West Indies, and the Far East round the Cape to Batavia, Canton and South Chinese waters.

In 1751, while on its way way back to Netherlands with cargoes of Chinese goods loaded in Canton, it hit a coral reef and sank in the South China Sea.

In 1986 the bulk of the cargo was salvaged by Captain Michael Hatcher and subsequently sold at Christie's in Amsterdam as the Nanking Cargo. I recall the images of the items recovered (and the prices realized!!) were fantastic.

My guess is that if you follow Hatcher, you'll find your quote; and probably right where it was indicated: in his website. Unfortunately, that site is probably, by now, long gone.

http://www.gotheborg.com/webshop/index.php?cat_id=66&PHPSESSID=fb38ce7969ca5cdfb9b96be9f37c756f
 

Some great details of the story about Michael Hatcher and the recovery and auction of the Nanking Cargo are discussed in the book, Dragon Sea, by Frank Pope-an awesome read by the way.
 

The statement I heard on a Discovery Channel or TLC show several months ago stated, "10% of ALL gold mined and refined by humans on the earth was lost during transport by shipping and is still lying on the bottom of the ocean today." I wish I could remember the name of the show. I think it came on last summer and was focused on the American salvor that was working on the pretty rich wreck off the coast of Ecuador. Can't remember the name of the wreck or the salvor but I'm sure many of you do.

Pcola
 

So there are several numbers on the percent lost floating around. All are guestimates anyway, but still very interesting.

The one wreck that was pretty impressive and stuck in my mind was the Republic that sank during the California Gold Rush. If I remember reading correctly, it sank with close to 1/4 of all the gold that had been mined during the 1849 gold rush to date. A pretty significant number. I also remember something about several banks going under because of it as well. Have to read up again and get my facts straight.

Robert
 

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