500 Million in Treasure from the Nuestra Senora de Las Mercedes

The government of Spain unveils the first presentation of over 500 Million in Sunken Treasure recovered from the shipwreck Nuestra Senora de Las Mercedes.

 
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500 Million in Shipwreck Treasure

by Bradley "Brad" Williamson

Spanish cultural officials have allowed the first peep at 16 tons of shipwreck treasure worth an

Coin Merecedes Wreck
Nov. 30, 2012- A silver coin from the shipwreck of an 1804 galleon "Nuestra Senora de las Mercedes" (AP)
 estimated $500 million that a U.S. salvage company gave up after a five-year international ownership dispute.

A tiny portion of the loot from the Nuestra Senora de las Mercedes, a galleon that sank off Portugal's Atlantic coast near the straits of Gibraltar in 1804, was shown to the media: 12 individual silver coins, a block of encrusted silver coins, two gold tobacco boxes and a bronze pulley.

Officials on Friday said some of the treasure will be put on display in museums next year. Spain got it from Florida-based Odyssey Marine Exploration in February after U.S. courts rejected arguments that the company was entitled to all or most of the treasure.


Read more: http://www.foxnews.com/world/2012/11/30/spain-shows-off-loot-from-galleon-treasure-recovered-after-legal-battle-with-us/#ixzz2DrDPKDmZ

Gold Box from Mercedes
Nov. 30, 2012 - A worker holds up a gold tobacco box from the shipwreck of a 1804 galleon "Nuestra Senora de las Mercedes." (AP)
Comment by Editor in Chief - Bradley "Brad" Williamson

The president and CEO of Odyssey, Greg Stem, is a close friend of my parents and through them I have come to know him. Greg Stem is a very honorable man and I highly respect him and his company. The recent rulings by our nation's Federal Magistrates against U.S. Citizens and in favor of foreign governments is very disturbing. I find it a sad day when a U.S. Federal Magistrate rules against a U.S. citizen, in favor of a foreign government, in a case where clearly the item of litigation was abandoned and not attempt, other than Odyssey, was ever made to try to recover the material

 

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