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<p>[QUOTE=&quot;GeorgeM, post: 1090000, member: 28550&quot;]Actually, there&#039;s a pretty good explanation for that. When the Japanese Army invaded the Philippines, US armed forces emptied out all of the bank vaults / safety deposit boxes and carried the contents with them on the retreat to Corregidor. The goal was to deny the bullion to the invading forces.</p><p><br /></p><p>When it became clear that Corregidor was going to fall, the defenders took motor boats out into Manila bay and dumped tons of gold into the ocean so that it wouldn&#039;t fall into enemy hands. Some of it was recovered during the war, but most of the coins spent months, years, and even decades submerged in salt water:</p><p><br /></p><p><a href="http://www.associatedcontent.com/article/360761/millions_in_silver_coins_dumped_in_pg2.html?cat=37" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.associatedcontent.com/article/360761/millions_in_silver_coins_dumped_in_pg2.html?cat=37" rel="nofollow">http://www.associatedcontent.com/article/360761/millions_in_silver_coins_dumped_in_pg2.html?cat=37</a></p><p><br /></p><p><a href="http://corregidor.org/chs_trident/trident_15.htm" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://corregidor.org/chs_trident/trident_15.htm" rel="nofollow">http://corregidor.org/chs_trident/trident_15.htm</a></p><p><br /></p><p>Some of the high grade silver pesos that we have available today were actually smuggled off of the island by submarines that evacuated VIPs. The ballast was emptied and replaced with coin bags. About 2 tons of silver pesos made it out before Corregidor fell. There are stories of sailors sitting on the bags and using the pesos as poker chips, but I don&#039;t know how credible those are.[/QUOTE]</p><p><br /></p>

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