There’s something about a good story that draws us in. Whether it’s a whimsical fantasy or a classic tale of good versus evil, stories resonate with us. While many modern bullion products come with their own stories, few offer a direct connection to the past.
Shipwreck gold and silver are among the most intriguing options for both investors and collectors, offering a tangible link to incredible historical events and maritime tragedies. Now, you can explore the latest offering in Shipwreck silver, refined from silver bars recovered from the wreckage of the SS Tilawa.
The SS Tilawa’s story is a tragic one, often compared to the Titanic, and sometimes referred to as the “Indian Titanic” due to its sinking in the Indian Ocean and the proportionate loss of life. For silver enthusiasts, the story is made even more fascinating by the history of the Tilawa’s cargo.
In 1942, the Tilawa departed from modern-day Mumbai (formerly Bombay), carrying nearly 60 tons of silver bullion in the form of 2,364 bars. This silver was bound for the South African Mint, where it would be struck into coins for South Africa and Egypt. However, on November 23, 1942, the SS Tilawa sank, taking its precious cargo and many lives to the ocean floor.
But the story doesn’t end there. In 2017, Argentum Exploration secretly recovered the silver bars from the wreck of the Tilawa, which lay approximately 1.6 miles beneath the ocean’s surface. By 2020, the value of this recovered silver was estimated at $43 million.
After a prolonged legal battle over the rights to the silver and permission to sell it, Tilawa Shipwreck Silver has been given a new lease on life. Although the ultimate fate of all the silver from the Tilawa remains unknown, approximately 800,000 ounces have been refined into modern silver bars and rounds, offering today’s investors and collectors a chance to own a piece of history. These products provide a unique combination of tragic history and modern bullion.
The SS Tilawa was built in 1924 in Hebburn, a town in South Tyneside, England. Constructed by Hawthorn Leslie & Co. Ltd, the 10,000-ton steam passenger liner was designed for the British Indian Steam Navigation Company. The ship was equipped with three decks, accommodations for 3,290 passengers across two classes, and ample cargo space.
During World War II, the SS Tilawa was requisitioned by the Royal Navy for use as a troopship, operating primarily out of British-controlled ports in India. In November 1942, the Tilawa embarked on its final journey from Ballard Pier, bound for Durban, Mombasa, and Maputo. On this voyage, the ship carried 60 tons of silver, 732 passengers, 222 crew members, and 600 tons of cargo.
On November 23, 1942, the SS Tilawa was struck by two torpedoes from a Japanese submarine, causing the ship to sink. Of those on board, 280 lives were lost, while 678 survivors were rescued after two days at sea. The HMS Birmingham rescued most of the survivors, and a few days later, the RMS Carthage discovered an additional four survivors.
Due to the proportionate loss of life, the SS Tilawa is often compared to the Titanic, earning it the nickname “Indian Titanic.” It also holds the unfortunate distinction of being the only known vessel sunk due to enemy action in the Indian Ocean during World War II.
In 2017, Argentum Exploration covertly recovered a substantial quantity of silver bars from the wreck of the SS Tilawa. These bars were transported to the United Kingdom, where Argentum believed they rightfully belonged. However, the South African government later filed a lawsuit, claiming that the silver was originally intended for the South African Mint and therefore belonged to South Africa.
In May 2024, after a lengthy court battle, the UK Supreme Court ruled in favor of South Africa, determining that the silver was indeed intended for the production of South African coinage, a sovereign purpose. Although South Africa won the case, reports suggest that an out-of-court settlement regarding the silver has been reached.
Opportunities to own shipwreck gold and silver are rare. The limited quantity, rich history, and tragic stories behind these items make them more than just silver bullion – they are pieces of history. If you have any questions about Tilawa Shipwreck Silver, please feel free to ask. Provident Metals customer service is available at 1-800-313-3315, online using our web chat, and via our email address.
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