Sixty-one tons of silver coming up.

Odyssey will be recovering silver
from a British freighter that got
whacked by a German U-boat in
1941.

http://mobile.bloomberg.com/news/20...s-up-61-tons-from-atlantic-seabed.html?cmpid=

 

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If they mixed some metal from the
Gairsoppa with the silver they could
make a fortune striking relic medals
because of the U-Boat connection
and because they know it's U-101
and the captain's name. And if they
could get some metal from U-101
and throw that in the mix they'd have
the mother of mothers of all relic medals.

 

Cool idea. I wonder if the Brits would go for it?

 

But the question is will this effect the price of silver since most will find it way in to the generic silver supply?

 

I think they'll try to market them
as historical pieces. But maybe
61 tons is too much history.

 

[quo ete="luongnine009, post: 1754759, member: 1886"]If they mixed some metal from the
Gairsoppa with the silver they could
make a fortune striking relic medals
because of the U-Boat connection
and because they know it's U-101
and the captain's name. And if they
could get some metal from U-101
and throw that in the mix they'd have
the mother of mothers of all relic medals.[/quote]

They're just getting the kings fifth. Brother
Johnny gets the rest. Hey, wouldn't it be
something if DC produced something from
that silver?

 

61 tons is just a drop in the bucket compared to the silver market. 61 tons is about 1.8 million oz or about .2% of annual consumption. Increasing the supply by .2% isn't likely to have an effect on prices unless you dumped it all in one week because then it would be almost 10% of weakly demand. But even if you did the market would straighten itself out in just a couple weeks,

 

Sixty tons is about 2,000,000 US silver dollars or Mexican silver pesos.

 

Or 1/20th the number of bullion ASE's produced last year.