For those looking to prosper from the sunken treasure in the waters of Florida as the Schmitt Family of Sanford just did with a $300,000 find off the coast of Fort Pierce, there is a way to do it without leaving dry land!
As reported in The Wall Street Journal, J.D. Hutt just acquired Sea Treasure Recovery Corp. to bring up bounty off the coast of water. There is certainly historic precedence for this with Mel Fisher's $450 million find of gold, silver and other valuables in the Florida Keys back in 1985.
Two things for investors to remember: the technology used by Sea Treasure Recovery Corp. is much better than it was in 1985; and the price of gold and silver is much higher.
In addition to J.D. Hutt with Sea Treasure Recovery Corp., Odyssey Marine Exploration (NASDAQ: OMEX) is another publicly traded company that brings up buried treasure. Based in Tampa, Odyssey Marine Exploration focuses on deep water divers. In July, Odyssey Marine Exploration recovered 61 tons of silver from a cargo ship off the coast off Ireland that was sunk by a U-Boat during World War II.
Sea Treasure Recovery Corp. will be focusing on shallow water dives. These are just as profitable, but not as risky. After all, the price of precious metals is the same, no matter how deep the water or the degree of difficulty.
Due to the time and cost factors, going after sunken treasure is an endeavor best left to companies such as Sea Treasure Recovery Corp. and Odyssey Marine Exploration. If it is a hobby, fine. But that is a very dangerous hobby, to be sure.
What J.D. Hutt has with Sea Treasure Recovery Corp. and Odyssey Marine Exploration posses that most hobbyists do not is capital, superior equipment, and managerial experience. Those are the main reasons to invest in any publicly traded corporation. But for those looking to claim some of the estimated $60 billion in sunken treasure that lies at the bottom of the sea for their own, buying shares of J.D. Hutt and Odyssey Marine Exploration is a safe way to potentially profit in what is a risky profession.