Anyone watching Billion Dollar Wreck?

Yep, ole Mel Fischer dilled a couple of his family getting that gold out of the Florida water.

 

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You just described my Saturday mornings with my DVR. Now THAT made me laugh!!!

 

I think they probably used the face value of a double eagle in their formula.

150K x $1.2K x $20 = $3,600,000,000

Chris

 

That would make it the 3.6 billion dollar wreck

I wonder if they are banking on some rarities in there?

 

How about creative accounting with numbers that sound reasonable?

So... maybe they took the gold troy ounce value in 1909 ($18.96), multiplied it by the number of gold coins purported to be in that shipwreck (150,000)... and made a counterfactual calculation that if it were in a bank accruing interest at I don't know, 5.63189003516% compounded annually, it would be worth exactly $1 billion down to the cent at the end of 2016.

(They'd also be assuming that each gold coin weighs a troy ounce, but rounding is ok, right? There may be a few more extra gold pieces we're not adding so let's call it even.)

 

I've got 25 minutes invested in a broken bottle.
Edit : counting last week, now an hour and 35 minutes.

 

No.

They said in first episode how they came up with the value - said even if not found scarce dates, but only average, it would come up to that amount.

I don't remember how they did the math but probably....

Take 150,000 coins x average pcgs price for 63-65. To reach 1 billion that price would have to be around $6,700 for each coin. I look at the price guide and many coins fall in that price range, even the most recent ones from 1907 are around $5k - $7k each in 64/65.