Thursday, February 2, 2012

2/3/12 Report - Odyssey Marine, A Lake Wreck and Current Conditions

Written by the TreasureGuide for the exclusive use of

Divers Inside the Costa Concordia.

That is an amazing photo. I found it on an AP article listed as anonymous. On another web site I found a similar, or maybe the same photo, crediting the Italian Navy, which I think is probably right.

Shares of Odyssey Marine stock were over $3.90 per share for a while yesterday. The price increases seemed to be based largely upon the contract for salvaging the HMS Victory.

It sounds like investors have not heard or have already have taken into account Tuesday's ruling ordering Odyssey to hand over to Spain the 500 million dollars worth of coins they found in 2007 on what is thought to be the wreck of the Nuestra Senora de las Mercedes.

They can still appeal to the Supreme Court.

Here is the link to that story.

A large piece of a 140 year old wreck, possibly the schooner Jennie and Annie, recently washed up on the beach of Lake Michigan.

Here is the link.

Nice photos.

Wait until you read the paragraph about why it should be left alone. The convoluted logic is simply amazing!

I wonder if it really washed up or was just uncovered. When things suddenly appear on a beach people often assume that they washed up when that is not always the case.

Beaches always change. A beach can change day to day or hour by hour. Cuts can occur and disappear in less than an hour.

One moment a beach can have all kinds of targets and a few minutes later nothing. That works the other way too.

Treasure Coast beaches have been producing treasure for decades - actually centuries if you go back to the early salvage efforts. But just think, some of those beaches are detected every day by multiple detectorists. And they still produce treasure when conditions are right. That is pretty amazing.

I've heard people talk about the treasure beaches being worked out. And I'll admit that there are times when it seems that way. But then the conditions will change and treasure starts showing up again.

Conditions have been relativey poor on the Treasure Coast beaches a lot lately. Between nature and all of the beach renourishment projects, it has been slow. Yet things are still found occasionally. I have no doubt that things will improve dramatically again. I don't know when, or for how long, but things will get churned up and the treasure will appear again.

For beach and shallow water hunters, the biggest obstacle is the sand. The salvage boats have blowers to move the sand, but on the beaches we have to wait for Mother Nature to do the job.

Anyhow, you have to watch for the opportunties when they do arise. There are times when even the most "cleaned out" sites are refreshed.

It is a little windy today. Unfortunately the wind seems to be coming directly from the east.

Tomorrow we're expecting higher seas - something in the range of five feet or higher. IF we get some better angles that could be good.

I don't have much time today, so that's it for now.

Happy hunting,