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Billion Dollar Shipwreck - Best of Coast to Coast AM - 4/10/26

·17 min·1 clip
Maritime historian Martin Baerle reveals a billion-dollar shipwreck discovery and the receipts that prove its staggering value.
The episode features an interview with maritime historian Martin Baerle about the RMS Republic shipwreck. Baerle begins by explaining the financial evidence, including a $3 million loan repayment receipt from the Russian state bank and an $800,000 payment for U.S. Navy cargo. He asserts the total melt value of the gold is $6 billion, making it the greatest treasure recovery of all time. Baerle recounts the historical context: after the Bolsheviks repudiated Tsarist debt in 1917, the U.S. government bailed out bondholders and later recognized the Soviet Union via the Litvinov Agreement in 1933. This agreement allowed U.S. district courts to decide on Tsarist assets, leading to Baerle winning title to the ship after a decade-long lawsuit. He describes the wreck's location 50 miles south of Nantucket in 270 feet of water, directly in a busy shipping lane, which he suspects was intentional to deter access. Baerle mentions his website, AbundantiaLP.com, where he shares research and data to legitimize his claim. He discusses enforcement measures, such as using AIS tracking to monitor the site and having the FBI intercept a dive boat. The recovery process involves removing thousands of tons of debris and could take years. Baerle emphasizes the legal ownership and challenges of marketing stolen gold, inviting scrutiny from historians and lawyers. The episode includes a brief unrelated segment about Carnivora and a caller's story about warts, but focuses primarily on Baerle's detailed narrative of the shipwreck's history, value, and recovery efforts.

As heard by us

A Republic cargo mystery turns receipts, bond exchanges, and gold estimates into evidence.

This Coast to Coast AM segment turns a claimed Republic cargo recovery into a paper trail, with Martin Baerle framed as a maritime historian, author, and deep sea explorer.

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Why you'd press play

You get the Republic's gold claim through receipts, repayments, and a $6 billion melt-down estimate.

Read the full recommendation in PlayNext →
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