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Updated 15:10 11/05/21

$50m of wartime silver recovered

By Duncan Richardson, News Editor

17 Apr 2015

$50m of silver coins have been salvaged from the ocean floor from a sunken steamship. The SS City of Cairo was torpedoed by a German submarine in 1942 480 miles south of St Helena. The steamship was carrying 100 tonnes of Indian silver coins from Bombay to London.

The hoard was found by underwater salvagers Deep Ocean Search, locating the wreck after searching an area the size of London.

The coins have been returned to London and melt down with the proceeds being been split between the UK government and Deep Ocean Search.

Famously after the SS City of Cairo disappeared below the waves, the U-boat surfaced and directed the survivor’s lifeboats to the nearest island. Only six people died, but it took three weeks before the 305 survivors were rescued.

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