Shipwreck Silver from the SS Tilawa

There’s nothing quite like a good story. It is in the DNA of each of us to be attracted to a good story, whether it’s a whimsical fantasy or a classic clash of good vs. evil. While many modern gold and silver bullion products offer a story of their own in terms of design or mintage, fewer products have a physical, direct link to the past.

Shipwreck gold and silver represent some of the most popular options for both investors and collectors, offering them a link to some of the incredible tales of the high seas and tragic moments from the past. Now’s your chance to learn about the new line of Shipwreck silver refined from silver bars recovered from the wreckage of the SS Tilawa.

Brief Background on the Silver

The tale of the SS Tilawa is a tragic one and is often referred to by modern historians as the Indian Titanic, a reference to the ship’s sinking in the Indian Ocean and the proportional loss of life. What makes the tale of more interest to silver buyers is the history of the Tilawa’s cargo.

As it sailed from modern-day Mumbai (then known as Bombay), the Tilawa was carrying a cargo that included nearly 60 tons of silver bullion in the form of 2,364 bars. Those silver bars were bound for the South African Mint with the intention of producing silver coins in South African and Egyptian denominations. When the SS Tilawa went down on November 23, 1942, its cargo sank to the bottom along with countless souls and the vessel itself.

The tale does not end there; if it did there would be no story of Shipwreck Silver from the Tilawa. In 2017, Argentum Exploration secretly recovered the silver bars from the Tilawa from a depth of roughly 1.6 miles beneath the ocean’s surface. As of 2020, that silver was valued at $43 million.

Tilawa Shipwreck Silver Bullion

After a protracted legal battle over the ownership rights to the silver and the ability to sell it for production, Tilawa Shipwreck Silver is now enjoying a second life. While the final destination of all the silver from aboard the Tilawa is unknown, some 800,000 ounces of Tilawa silver has been refined into new silver bars and rounds for modern investors and collectors to own. These products offer a blend of tragic history and modern bullion in a single item.

History of the SS Tilawa

In 1924, the SS Tilawa was built in Hebburn, a town in the South Tyneside borough of Tyne and Wear in England. Hawthorn Leslie & Co. Ltd built the 10,000-ton steam passenger liner for the British Indian Steam Navigation Company, with a final layout that included three decks, capacity for 3,290 passengers across two classes, and plentiful cargo space in the holds.

During World War II, the SS Tilawa was pressed into service with the Royal Navy as a troopship and regularly worked out of British ports in India. In November 1942, the Tilawa departed from Ballard Pier on its way to ports in Durban, Mombasa, and Maputo. On its final voyage, the ship had set off with the aforementioned 60 tons of silver, 732 passengers, 222 crew, and a total of 600 tons in cargo.

On November 23, 1942, two torpedos from a Japanese submarine struck the Tilawa and sank the ship. Among those on board the Tilawa during that voyage, 280 would be lost and 678 would eventually be rescued. After two days adrift, most of the survivors were rescued by the HMS Birmingham. Some days later, the RMS Carthage found an additional four survivors.

Due to the loss of life, proportionate to the total number of souls on board, the SS Tilawa has become known as the Indian Titanic. In addition to that grim title, the Tilawa holds the unwanted distinction of being the only known vessel sunk as a result of enemy action in the Indian Ocean during World War II.

Court Battles

In 2017, Argentum Exploration secretly recovered untold volumes of silver bars from the SS Tilawa’s wreckage. The silver bars were transferred to the United Kingdom as Argentum Exploration believed the bars to belong to the UK. However, the South African government would later file a lawsuit claiming it was the original owner of the silver as it was destined for the South African Mint and was to be refined into coinage for the Union of South Africa and Egypt.

In May 2024, after a lengthy legal battle, South Africa emerged victorious in the UK Supreme Court, with judges ruling that the silver was rightfully that of South Africa as it had been procured for the production of South African coinage. The Supreme Court of the UK viewed this as a predominantly sovereign purpose and ruled in favor of South Africa. The two sides have, however, reportedly reached an out-of-court settlement regarding the silver.

Buy Tilawa Shipwreck Silver Bullion from JM Bullion

There are but fleeting opportunities to own shipwreck gold and silver. The limited volume of these items, their incredible history, and their tragic backstories make these pieces more than just silver bullion – they are pieces of human history. If you have any questions about Tilawa Shipwreck Silver, please feel free to ask. JM Bullion customer service is available at 800-276-6508, online using our web chat, and via our email address.