Join the hunt with two thrilling adventures: Steel's Treasure and the newly released Steel's Gold!

The epic story of U.S. Air Force Captain William Steel, an intelligence officer with serious authority issues, and his hunt for billions of dollars of lost WWII Japanese treasure hidden in the mountainous jungles of the Philippines.

Tuesday, May 19, 2020

Philippines WWII lost treasure--silver pesos worth millions

Not all lost WWII treasure in the Philippines can be found on land. Millions of dollars worth of silver pesos probably still lurk in the depths of Caballo Bay just off the former U.S. WWII fortress of Corregidor. At the onset of WWII (Jan/Feb 1942) American forces--to keep the Philippine government's national treasury from falling into Japanese hands--loaded the U.S.S. Trout with 2 million dollars in gold bars and $360,000 in silver which were shipped to San Francisco. Unable to transport heavy coinage--U.S. forces-- dumped nearly 16 million silver pesos into the ocean (in today's dollars--worth tens of millions).  During the war, Japanese forces attempted to recover the pesos-- in some cases using captured U.S. navy diver prisoners of war. Some of the pesos were recovered (some estimates of up to 75 percent)-- but many probably remain hidden in the ocean. The Philippine pesos are valuable (based on silver weight and purity)---the U.S. operated a mint in the Philippine's capital city Manila where the silver pesos were made on the same silver blank as the Morgan silver dollar. The mint operated from 1920-1941 until it was destroyed by U.S. forces during the fighting in the capital.  Might be worth some eager scuba diver's time to search for the valuable coins.
     Philippines 1909-S 1 peso Manila Bay sea salvaged silver coin

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