A Golden Opportunity – Or A Curse?

Release: JANUARY 3, 2025

    Be careful what you wish for.  That’s advice or admonition that seems appropriate more often than we might imagine – particularly for a new year.

    Last week, countless lottery ticket holders gathered their lucky charms in hopes of winning the $1.2 billion stake.  One individual in California had a charm that worked.  They held the winning ticket.  In a lump sum, they will receive about $550 million.  Then will be the corresponding taxes which will eat up another 50 percent or so.  In the end, someone will still take home several hundred million dollars....

    It’s amazing to read about how many lottery “winners” have ended up losing not only their winnings but much of their life as well.  Online stories of sad fates abound with headlines such as, “70 percent of lottery winners are broke within seven years.”   Worse, some winners have died suddenly or have seen close relatives/friends suffer.  Is this true of all treasures?

    Unexplained “curses,” have befallen some who struck it rich.” Such was the case for Floridian Mel Fisher.  He first experienced the stuff of dreams when, on July 20, 1985, he received a marine radio message.  It simply said, “Put away the charts.  We’ve got the Mother Lode.”

    That was referring to sunken treasure for which Fisher had  been searching for 16 years.  The wrecks he was seeking were a Spanish treasure fleet of a dozen galleons sunk in a storm off Florida’s west coast in 1715.  Known to be carrying a vast fortune in gems, gold and silver from Mexico and South America, the exact whereabouts had long been a mystery.  The curse wasn’t.

     One of the ships, the Atocha, was said to be vexed from the outset.  Whether because of the treasure; the fact so many sailors were lost in that horrific storm; or just due to tall tales mariners love to spin, the curse took on a life of its own.  It also took lives.  When the Atocha wreck was first located in 1975, Mel’s son Dirk, his wife Angel and diver Rick Gage were all killed when their salvage boat capsized over it.  Part of the curse?  Who knows?  Mel kept going.

    In all, Fisher brought up over $450 million from the Atocha and related ships.  That was in the 1990s.  With the price of gold today, it could be triple that.  Of course, it took virtually all of Mel’s life to find and the lives of his son and two others.  Was it worth it?  Mel can’t say.  He died in 1998.

    Another treasure hunter by the name of Tommy Thompson was integral in the discovery and salvage of the SS Central America.  Known as the “Ship of Gold,” it was carrying a fortune in gold coins and bars estimated to be worth over one billion dollars today.  Lost in 1857, the gold the ship was loaded with coins struck from California gold fields gold found during the gold rush of 1849.

    Carried to the bottom of the Atlantic Ocean after another hurricane off the coast off the Carolinas, over 425 lives were also taken along with all the gold still stacked in crates below decks.  Salvors often spoke of finding the fortune but the SS Central America was thought to be over a mile deep.  It was.

    Tommy Thompson was the lead man on the search that  finally found the sunken ship.  At a depth of over 7,200 feet, it was far too deep for human exploration.  In 1988, a remote operated vehicle was sent down.  While much of the wood of the ship had deteriorated, cameras revealed a literal “sea of gold.”

     Special efforts were designed to lift the treasure.  Naturally, legal battles ensued.  After extensive legal arguments, it was adjudicated that the finders could keep 92 percent of the treasure.  That would be fine except for suspicions that some of the recovered gold had going missing.  Accusations flew and court battles ensued.

    In the end, Thompson refused to divulge information about the whereabout of a suspected 500 gold coins.  He appeared intractable – so much so that he has spent eight years in prison on a charge of contempt of court for refusing to divulge where or if the coins exist.   He’s still there to this day.

    It would be a stretch to call the Thompson case a “curse.”  But, it’s a consequence.

    On the good news front, there are said to still be gold coins aplenty on the Floridian shoreline from that 1715 disaster waiting to be found.  Even better news – should anyone be lucky enough to find some, it’s “finders’ keepers.”  No lawyers needed.  Good luck!

    For more collecting information and advice, log on to: http://prexford.com/.