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Spanish Treasure Ship of 544,000 Ounces of Silver to be Returned to Spain!
In May of 2007, a Spanish Galleon named Nuestra Senora de las Mercedes was discovered by an American group of treasure hunters called the Odyssey. After all the contents were taken from the wreck, the total amount of silver discovered amounted to 17 tons or 544,000 ounces of silver.
544,000 Spanish Coins Ready for Transport
Sunken Wreckage
After the discovery of this great treasure ship, a case was brought before a U.S. Court to determine the rightful ownership of the lost treasure. As of last week, U.S. Court sided in favor of the Spanish Government. So over the next couple of months, all of the silver will be transported to facilities owned by the Spanish Government. In the meantime, Odyssey will continue to fight in court for possession of the silver arguing that the Spanish government never had possession of the ship in the first place. However this legal battle is decided an additional 500,000 ounces of silver will now be added to the above ground supply as a result of this huge discovery.
