Tilawa Shipwreck Silver Bullion

Shipwreck Silver from the SS Tilawa

A compelling story is something we all gravitate toward. Whether it’s a fantastical adventure or a classic tale of good versus evil, stories captivate us. Many modern bullion products come with their own stories, but few can offer a direct, tangible connection to history.

Shipwreck gold and silver are among the most fascinating choices for investors and collectors, offering a link to dramatic historical events and maritime tragedies. Now, you have the chance to explore the latest offering in Shipwreck silver, refined from silver bars recovered from the wreckage of the SS Tilawa.

History of the Silver

The SS Tilawa’s story is a heartbreaking one, often referred to as the “Indian Titanic” due to its sinking in the Indian Ocean and the significant loss of life. For silver enthusiasts, the story becomes even more intriguing when considering the Tilawa’s cargo.

In 1942, the Tilawa departed from what is now Mumbai (then Bombay), carrying nearly 60 tons of silver bullion in the form of 2,364 bars. This silver was destined for the South African Mint, where it would be struck into coins for both South Africa and Egypt. However, the SS Tilawa met a tragic fate on November 23, 1942, when it sank to the ocean floor, taking its cargo and many lives with it.

But the story doesn’t end there. In 2017, Argentum Exploration secretly recovered the silver bars from the wreckage of the Tilawa, which lay approximately 1.6 miles beneath the ocean’s surface. By 2020, the value of the recovered silver was estimated at $43 million.

Tilawa Shipwreck Silver Bullion

After a prolonged legal battle over the ownership and rights to sell the silver, Tilawa Shipwreck Silver has been given a new life. While the ultimate fate of all the silver from the Tilawa remains unclear, around 800,000 ounces have been refined into modern silver bars and rounds, available for today’s investors and collectors. These products encapsulate both a tragic historical event and modern bullion in one unique offering.

Background on the SS Tilawa

The SS Tilawa was built in 1924 in Hebburn, a town in South Tyneside, England. Constructed by Hawthorn Leslie & Co. Ltd, the 10,000-ton steam passenger liner was designed for the British Indian Steam Navigation Company. The ship was equipped with three decks, accommodations for 3,290 passengers across two classes, and extensive cargo space.

During World War II, the SS Tilawa was requisitioned by the Royal Navy for use as a troopship, operating primarily out of British-controlled ports in India. In November 1942, the Tilawa embarked on its final journey from Ballard Pier, headed for Durban, Mombasa, and Maputo. On this voyage, the ship was carrying 60 tons of silver, 732 passengers, 222 crew members, and 600 tons of cargo.

On November 23, 1942, the SS Tilawa was struck by two torpedoes launched by a Japanese submarine, causing the ship to sink. Of those on board, 280 people perished, while 678 survivors were rescued after two days at sea. The HMS Birmingham rescued the majority of the survivors, and a few days later, the RMS Carthage discovered an additional four survivors.

Due to the proportionate loss of life, the SS Tilawa is often compared to the Titanic and has earned the somber nickname “Indian Titanic.” It also holds the unfortunate title of being the only known ship sunk due to enemy action in the Indian Ocean during World War II.

Legal Wrangling

In 2017, Argentum Exploration covertly recovered a substantial quantity of silver bars from the wreck of the SS Tilawa. These bars were transported to the United Kingdom, where Argentum believed they rightfully belonged. However, the South African government later filed a lawsuit, claiming that the silver was originally intended for the South African Mint and therefore belonged to South Africa.

In May 2024, after a lengthy court battle, the UK Supreme Court ruled in favor of South Africa, determining that the silver was indeed intended for the production of South African coinage, a sovereign purpose. While South Africa won the case, reports indicate that an out-of-court settlement regarding the silver has been reached.

Buy Tilawa Shipwreck Silver Bullion from BGASC

Opportunities to own shipwreck gold and silver are rare. The limited quantity, the rich history, and the tragic stories behind these items make them much more than just silver bullion – they are pieces of our shared history. If you have any questions about Tilawa Shipwreck Silver, please feel free to ask. BGASC customer service is available at 1-888-992-4272, online using our web chat, and via our email address.