"To pay for munitions and goods in both World Wars, the British Government shipped gold bullion worldwide with an estimated present day value of circa £300 billion."
During both World Wars, Britain paid for war supplies through shipments of predominantly gold bullion. During WW1 the Bank of England (BoE) shipped gold worth £125Bn at 2016 prices. During WW2, BoE shipped gold worth £175Bn at 2016 prices. Many of the carriers were torpedoed and sunk. Now a British Company has been established to recover these sunken treasures and bring them home.
The great majority of shipments were carried out by merchant ships under the direction of HMG; approximately 5000 of these were sunk in WW1 and a further 2500 in WW2, many of which were designated “Official Gold Carriers.” The approximate attrition rate of merchant ships during both wars is estimated at 60%. Although HMG introduced War Risk Insurance during both World Wars, this only covered non Treasury and some BoE gold – HMG gold was not insured.
The majority of these gold shipments were carried by the merchant fleet under Government direction. During both wars, some 7500 merchant ships were sunk with great loss of life. Britannia’s Gold Ltd. (BGL), a British company, has been established to recover a certain number of these cargoes and return them to the UK for the benefit of the Government (HMG), Investors and Merchant Marine Charities.
Specialist research covering the maritime losses in both World Wars has been gathered over the past 25 years resulting in a database of some 27 Terabytes of digitized information. Of the 7500 ships lost, this research has identified more than 700 to have been specific gold carriers.
BGL has unique access to this research which provides for a clear strategy to identify and locate the lost gold carriers. Working exclusively with IDM Exploration Ltd and utilising tried and tested modern day survey and salvage techniques, BGL is confident these known cargoes are recoverable.
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