Treasure salvors Lords of Fortune have launched Abundantia Limited Partnership to market treasure from the 1909 shipwreck R.M.S. Republic.

Built in 1903 by Harland and Wolff in Belfast, Northern Ireland, the luxury ocean liner was the flagship of the White Star Line’s Boston–European service.

The R.M.S. Republic sank Jan. 24, 1909, after a collision in dense fog with the S.S. Florida off the coast of Nantucket Island, Massachusetts.

The Lords of Fortune company has identified two cargoes — a $25 million Tsarist gold shipment and an $800,000 U.S. Navy shipment, both 1909 face values when gold was $20.67 per ounce.

For the Republic recovery, limited partners will share 50% of the first $400 million, then 20% thereafter — pro rata to their investment, according to Capt. Martin Bayerle of Lords of Fortune LLC.

One limited partner gets all of the limited partnership’s share. Multiple limited partners would share pro rata to their investment, subject to the specific terms in the offering memorandum.

With a successful recovery, an $8 million investment should return $200 million conservatively, according to Bayerle.

Add the Russian gold, 45 tons of United States gold $10 eagles on melt value alone, and you exceed 100 times, he said.

Detailed terms and risks are specified in the offering memorandum.

“We intend to make available between $5 million and $8.5 million dollars in shares, which we believe will be sufficient to reach Republic’s gold cargoes (the Exploratory Budget),” according to Bayerle. “Once that event happens, we should be able to debt finance any amount needed to complete the multi USD billion dollar recovery — estimated to cost another $25 million to $30 million.”

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Treasure salvors Lords of Fortune have launched Abundantia Limited Partnership to market treasure from the 1909 shipwreck R.M.S. Republic.

Built in 1903 by Harland and Wolff in Belfast, Northern Ireland, the luxury ocean liner was the flagship of the White Star Line’s Boston–European service.

The R.M.S. Republic sank Jan. 24, 1909, after a collision in dense fog with the S.S. Florida off the coast of Nantucket Island, Massachusetts.

The Lords of Fortune company has identified two cargoes — a $25 million Tsarist gold shipment and an $800,000 U.S. Navy shipment, both 1909 face values when gold was $20.67 per ounce.

For the Republic recovery, limited partners will share 50% of the first $400 million, then 20% thereafter — pro rata to their investment, according to Capt. Martin Bayerle of Lords of Fortune LLC.

One limited partner gets all of the limited partnership’s share. Multiple limited partners would share pro rata to their investment, subject to the specific terms in the offering memorandum.

With a successful recovery, an $8 million investment should return $200 million conservatively, according to Bayerle.

Add the Russian gold, 45 tons of United States gold $10 eagles on melt value alone, and you exceed 100 times, he said.

Detailed terms and risks are specified in the offering memorandum.

“We intend to make available between $5 million and $8.5 million dollars in shares, which we believe will be sufficient to reach Republic’s gold cargoes (the Exploratory Budget),” according to Bayerle. “Once that event happens, we should be able to debt finance any amount needed to complete the multi USD billion dollar recovery — estimated to cost another $25 million to $30 million.”

Connect with Coin World:  
Sign up for our free eNewsletter
Access our Dealer Directory  
Like us on Facebook  
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Whether you’re a current subscriber or new, you can take advantage of the best offers on magazine subscriptions available in digital, print or both! Whether you want your issue every week or every month, there’s a subscription to meet your needs.