Latest News: » Making a Profit » Explorers » Civil War

Explorers find gold in Civil War-era wreck

SAVANNAH, Ga. (AP) - After searching the ocean for more than 10 years, marine explorers found crates of gold at the siteof a Civil War-era shipwreck about 100 miles east of Savannah.

Archaeologists and techniicans from Odessey Marine Exploration, Inc., on Thursday found 80 gold coins and atleast two wooden crates of gold coins buried in the sediment, said company spokeswoman Laura Lionetti Barton.

The gold's worth is not yet known, said Barton, who added the old coins must still be lifted very carefully from the ocean floor.

Though Barton declined specific estimates, she suggested that coins from the shipwreck could be worth more than $120 million.

In August, Odessey's salvage crewfound what they believed was the site where the side-wheel steamer SS Republic sank during a hurricane in 1865, Barton said.