Posted: May 5, 2014 7:26 PM by Michael Marsh
Updated: May 5, 2014 7:26 PM
Source: Associated Press
CHARLESTON, SOUTH CAROLINA- Nearly one-thousand ounces of gold was retrieved from a shipwreck off the coast of South Carolina after a judge cleared the way.
Its the first time gold was recovered from the S.S. Central America in about 25-years due to a legal dispute. Previous expeditions recovered gold worth about $50-million.
Dives to the wreck were on hold after investors said they provided money for expeditions but got no money in return. They sued, but the judge ruled last month its okay to dive on the wreck again.
The S.S. Central America sank in 1857 during a hurricane.
Odyssey Marine Exploration of Florida says the recent gold was recovered last month. No one knows how much is still with the wreck but a portion will have to go to investors.