Sunken Gold Ship Found, Now Where's the Loot?
Trawler was abanoned and sank off Argentina in mysterious circumstances
By Rob Quinn,  Newser Staff
Posted Jun 20, 2009 7:59 AM CDT
The refitted fishing trawler Polar Mist sails abandoned in the Straits of Magellan on Jan. 18, 2009. It sank soon afterwards.   (AP Photo/Argentina Navy Press Office)
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(Newser) – The wreck of a trawler carrying $18 million in gold and silver that sank in January has been found off the coast of Argentina, the BBC reports. The big question: Does it still have the loot aboard? Rescuers hired by the main insurer, Lloyd's of London, plan to send down a robotic submersible but have been prevented from doing so by harsh weather.

The Polar Mist had been en route from gold mines in Argentina to Europe when the crew abandoned it in a heavy storm. Another vessel subsequently tried to tow it ashore but failed, and the ship sank. Insurance companies have raised questions about its route, the circumstances under which it was abandoned, and why someone had the bright idea to transport 9.5 tons of gold in a fishing boat.