# Load of 71 tons of GB Paltinum found in sunken vessel



## lazersteve (Feb 1, 2012)

Check out this treasure hunters find:

Sunken WWII Platinum Cargo

I wonder if this will affect the price of Pt if it turns out to be Pt onboard?

Steve


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## kadriver (Feb 2, 2012)

It could flood the market with platinum bars.

71 tons X 2000 lbs = 142,000 lbs

142,000 lbs X 453.59 grams = 64409780 grams

64409780 grams divided by 31.1 = 2071054 troy ounces

Over 2 million troy ounces of platinum - wow.

Depends on who ends up with the metal (if there is any).

If they let it out gently, a little at a time, then there won't be a disturbance.

But if they try and sell it all at once - the price would probably drop like a rock - for a while.

If it turns out to be true, then that news alone could cause a panic sell.

Great story, I hope the guy who found it gets to keep some.

kadriver


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## joem (Feb 2, 2012)

And a panic buying opportunity


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## goldsilverpro (Feb 2, 2012)

Yep. The world's annual production of Pt is only 130 tons.


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## micronationcreation (Feb 2, 2012)

Had to laugh when I read the story on BBC teletext, the question over who owns the salvage rights and the US government said, "maritime law is very complicated"


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