Odyssey Marine Exploration said the recovery includes 1,574 silver ingots weighing about 1,100 ounces each. The silver was recovered from a depth of nearly three miles, and marks a record for the deepest and largest precious metal recovery from a shipwreck, the company said.
The company said the silver has been moved to a secure facility in the U.K. It said its contract with the U.K. Department of Transport calls for the company to retain 80 percent of the salvaged value of the cargo. At current prices, the silver would be worth over $35 million.
The SS Gairsoppa is a 412-foot steel-hulled British cargo ship sunk in 1941 by a German U-boat about 300 miles off Ireland's coast. It sits 15,420 feet deep.