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Shipwreck interest - 1911 "SS Egypt" Full Sovereign

Lot Details

Presented in its original Lloyd's of London tooled leather case is a very rare, "shipwreck coin", from the SS Egypt. Notably, the original purchase receipt accompanies this coin, which, after extensive searching, appears to be the only such example known. Also inside the case is the original Lloyd's information card which reads: "Egypt" Salvage This sovereign was recovered in June 1932 by the Italian Salvage Steamer 'Artiglio' from the P&O steamer 'Egypt' which sank off Ushant on May 20th 1922 in 70 fathoms after collision' P. G. Mackinnon [Facsimile Signed] CHAIRMAN OF LLOYD'S LLOYD'S 30th. JUNE, 1932. Background information: Sunk on May 20th, 1922 after colliding with the Steamship "Seine", the wreck of the SS Egypt resulted in the loss of 86 passengers and crew. Sinking in less than 20 minutes, the Egypt came to rest 70 fathoms (128m) below the surface of the Celtic Sea. Not only did the Egypt's sinking result in the tragic loss of life, she also took with her a significant cargo of gold and silver bullion. Owing to the value of the cargo (in excess of £1 million in 1922), salvage attempts were swiftly commenced. Despite significant difficulties and technical challenges due to the technology at the time, the wreck was discovered in 1929 with 98% of the strong room reputedly recovered by 1935. The coin on offer is noted to be from the 1932 salvage. At this time, less than 1,000 of the estimated 15,000 sovereigns had been recovered. For further reading on this fascinating wreck and salvage operation, we would strongly recommend the following titles: - Seventy Fathom deep, with the divers of salvage ship Artiglio, by David Scott - The Egypt's gold, by David Scott