Word: ingotsize
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10-lb. Ingots. In 1961, Wagner and a syndicate of seven friends, called- Real Eight Co., Inc., took out a salvage search lease with the State of Florida (in return, the state gets 25% of their take). First underwater teams located, with the aid of magnetometers, two wreck sites, marked...
Their most spectacular find occurred on May 30, 1965, when the blaster uncovered an area that was, as Wagner put it, "a solid carpet of gold. The coins were lying two and three deep and some were even stacked in piles." All told, in seven summers of diving, the treasure...
But considerable ingenuity goes into the recovery and reuse of waste materials. Some industrial waste is saved and reprocessed at the plant itself; the rest comes through the scrap and salvage industry, which buys up wastes from plants, offices and homes. The copper in a skillet, for instance, may have...
To add insult to injury, France insists on physical possession of most of its gold. Other nations are content to leave most of their holdings in the New York Federal Reserve Bank's airtight vault 85 ft. below Liberty Street in lower Manhattan. There, gold ingots worth about $12.9...
The French trust no foreigners. They use the Federal Reserve Bank of New York only as a shipping clerk. In New York, the American seal is erased from the ingots, and the gold is sent-whether by plane, ship or submarine is a closely guarded secret-to France, where most...