The Recovery of the SS Port Nicholson, sunk by U-87 in 1942... laden w/ Pt?

Discussion in 'Bullion Investing' started by Juan Blanco, Nov 21, 2012.

  1. Juan Blanco

    Juan Blanco New Member

    $3 Billion in Russian ingot just sitting on the ocean floor between Portland ME and PTown MA: yes, no or maybe? Plundered already by Dr. No?

    http://www.metrowestdailynews.com/news/x2124807137/British-cast-doubt-on-treasure-find
    http://www.oldsaltblog.com/2012/01/31/ss-port-nicholson-sunk-off-cape-cod-in-1942-a-3-billion-shipwreck/


    "A U.S. Treasury Department ledger shows that the platinum bars were on board, Brooks said, and his underwater video footage shows a platinum bar surrounded by 30 boxes that he believes hold four to five platinum ingots each."
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  3. digitect

    digitect New Member

    Is the math correct? 1,707,000 troy ounces = 117,051 pounds, or about 60 tons.

    The article also mentions 130 lbs, which would be about $3 million (not billion).

    Better get some serious security if the "b" word is correct.
  4. JJK78

    JJK78 Member

    One article mentions 71 Tons of platinum which by my math is $3,260,098,440~
    1,707,000 by my math is about 58.539 tons~
    The 130 pounds is referring to one box containing 4 - 400oz ingots each~

    Pretty sweet find fore sure!
  5. Juan Blanco

    Juan Blanco New Member

    1,707,000 ozt = 142,300 pounds Troy = ~ 53 m.t. (metric tonnes)
    The conversion should be from Troy weight > metric, not avoirdupois. A box with 4x400 = 1,200 ozt = 100 pounds Troy. That doesn't mean the journo got the facts right, however.

    The ingots came from Russia, c. 1942. What was the Soviet standard for ingots at their smelters at that time? The Russian Imperial standard was 25 Фунт (10.24 kgs), so maybe the Soviets produced 10 kgs ingots? Perhaps they were producing Troy Weight ingots for the British, idk.

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