Find a Shipwreck, Find More Gold

Scrap gold, broken gold, gold jewellery, gold rings.  If you have unwanted gold and would like to sell your gold, bring it in to EzyCash Gold Buyers in Panmure, Auckland for an expert valuation of your gold.

The gold price continues to ride high – take advantage of this by selling your gold to EzyCash Gold Buyers.

In one of our past blogs, we recommended finding gold by panning for gold.  If you’ve tried panning for gold but it didn’t quite deliver for you, we have another idea:

Finding a gold-laden shipwreck in the sea.

Might seem a bit far-fetched but with over three million shipwrecks in seas and oceans around the world just waiting to be discovered – could this be the ticket to your gold windfall?

Of course, the only drawback is finding gold this way takes deep pockets.  The sonar surveys required to find these wrecks are costly and mostly speculative.

Plus, a recent discovery has highlighted the tricky laws surrounding the salvage of gold on shipwrecks.

A private firm has found the location of the HMS Victory – a Royal Navy ship that sank near the UK’s Channel Islandsin the 18^th Century.  The Victory sank in a storm while returning toBritain with a cargo of four tons of Portugese gold – gold that would be worth about 700 million pounds in today’s market.

The ship’s location was a complete mystery until 2008 when Odyssey Marine Exploration found it 330 feet under theEnglish Channel– a full 65 miles from where it was historically supposed to have sunk.

So once you’ve found your equivalent of the HMS Victory on the sea floor – is the hundreds of millions of dollars worth of gold yours for the taking?

Well, it’s a bit complicated.

If you find a shipwreck in international waters then it’s essentially a free-for-all.  Unless, that is, the ship is a state-owned ship.

In that case, the ship belongs to its sovereign nation and you must hand-over the gold to the government.  The plus side being that they are obliged to compensate you for the gold for between 50 and 70% of the gold’s value.

Odyssey finds itself in this situation with the British government over the HMS Victory and is also in dispute with the Spanish government over a wreck it found in theAtlantic.  The Spanish believe it is a frigate of theirs that sunk in 1804, while the company says the origin on the ship is still unknown.

So, reckon finding gold this way is worth it?

Maybe it’s a better idea just to have a hunt round home for scrap gold, broken gold and gold jewellery.  It will probably yield a comparatively smaller sum than 700 million pounds but you’ll still get a top cash price for your gold at Ezy Cash Gold Buyers in Panmure, Auckland.