You’ll find that Peter Gimbel’s 1981 expedition recovered a 650-pound Bank of Rome safe from the Andrea Doria wreck at 250 feet depth, yielding 3,606 pieces of waterlogged currency after 25 years underwater. The haul included 2,726 U.S. Silver Certificates and 878 Italian Lire notes, which PCGS Currency later graded using a three-tier system based on integrity percentages. These authenticated artifacts entered the collector market in 2006, with properly conserved specimens now preserved in museum-grade acrylic enclosures that document the complete salvage operation’s historical significance.
Key Takeaways
- Peter Gimbel recovered a 650-pound Bank of Rome safe from 250 feet depth in September 1981 despite Hurricane Dennis complications.
- The safe contained 3,606 pieces of waterlogged currency including 2,726 U.S. Silver Certificates and 878 Italian Lire notes.
- PCGS Currency established a three-tier grading system (A, B, C) to certify and authenticate the recovered shipwreck currency.
- Rare Coin Wholesalers publicly released the recovered currency in 2006, coinciding with the wreck’s 50th anniversary.
- Over 3,600 currency pieces were preserved in custom acrylic blocks with artifacts exhibited at the Italian American Museum.
The 1956 Collision and Sinking Off Nantucket
On July 25, 1956, the Italian luxury liner Andrea Doria and the Swedish-American vessel Stockholm converged on a catastrophic collision course 45-53 miles southeast of Nantucket, Massachusetts.
Dense fog obscured visibility while both vessels maintained excessive speeds—Andrea Doria at 21.85-23 knots, Stockholm at 18.5 knots.
Despite radar equipment, crews misinterpreted positioning data. At 11:10 pm, Stockholm’s reinforced ice-breaking bow penetrated Andrea Doria’s starboard side by nearly 40 feet, killing 51 people instantly.
The collision aftermath demonstrated critical maritime safety failures: radar misuse, speed violations in fog, and miscommunication.
Andrea Doria’s 11-hour survival window enabled 1,660 rescues before she capsized at 10:09 am on July 26.
You’ll find her wreck remains accessible on the ocean floor, preserving evidence of this preventable disaster. The wreck lies 250 feet below the sea, approximately 50 miles south of Nantucket. The site has earned the nickname “Mount Everest of Wreck Diving” due to its challenging conditions and technical demands.
Peter Gimbel’s 1981 Safe Recovery Operation
In September 1981, you’d observe Peter Gimbel’s expedition extracting a 650-pound Bank of Rome safe from the Andrea Doria wreck at 250 feet depth, despite Hurricane Dennis complicating operations.
The team secured the intact safe through precise underwater salvage protocols, concluding years of systematic reconnaissance work at the site.
Three years later, the safe’s contents were revealed through a live television broadcast, documenting the final phase of this historic recovery operation. Inside were preserved American currency and Italian bank notes that had survived underwater for 25 years.
The recovery expedition targeted the wreck of the 212-meter Italian liner that had sunk in 1956 following its collision with the Stockholm in dense fog conditions.
Hurricane Dennis Recovery Mission
Although Peter Gimbel had located the Andrea Doria wreck within 24 hours of its 1956 sinking, his most ambitious salvage objective wouldn’t materialize until September 1981 when his expedition successfully recovered one of two safes from the vessel’s purser’s office.
The operation faced unprecedented recovery challenges as Hurricane Dennis swept through the Atlantic, generating powerful underwater currents that exceeded safe diving parameters. Despite the hurricane impact threatening to abort the mission, you’ll find Gimbel’s team demonstrated remarkable persistence in executing precision rigging procedures at depths exceeding 200 feet.
The safe’s extraction required multiple dives under deteriorating visibility conditions. Gimbel’s team navigated the treacherous site that divers consider the “Mount Everest” of wrecks due to dangerous currents and extreme decompression risks. Gimbel’s wife, Elga Anderson, maintained critical ship-to-shore communications throughout the storm-affected operation, coordinating timing windows between weather systems. The Banner Graphic newspaper documented the recovery mission in its August 29, 1981 issue, providing Indiana readers with coverage of this significant maritime salvage operation.
650-Pound Safe Extraction
Peter Gimbel’s fifth expedition to the Andrea Doria wreck marked the culmination of nearly two decades of systematic exploration when his team successfully extracted the purser’s safe from 200 feet below the Atlantic surface.
The 1981 safe recovery operation deployed commercial saturation diving systems and dive bells—technology that freed divers from traditional depth limitations. Your understanding of diving challenges deepens when you consider the helium mixtures that distorted communication and the mandatory two-day decompression protocols.
Seal failures could trigger fatal blood bubbling, yet Gimbel’s professional crew navigated these risks systematically. The massive operation involved state-of-the-art equipment testing theories from his 1975 research. Gimbel’s earlier 1975 expedition had focused on understanding the sinking’s cause, gathering critical data that informed the later safe recovery mission. Gimbel had previously taken the first underwater pictures of the wreck in 1956 alongside Joseph Fox, establishing his decades-long connection to the Andrea Doria.
When opened on live television in 1984, the safe contained only $2,000 in worthless checks—proof that true exploration values discovery over treasure.
Live Television Opening Event
Three years after the safe’s extraction from the Andrea Doria wreck, Gimbel orchestrated a 1984 live television special that transformed deep-sea archaeology into prime-time entertainment.
You’ll witness how the television special built suspense through dramatic countdown sequences and explosive door removal, creating anticipation for revealed treasures. The live broadcast drew massive media attention, though it ultimately exposed no gold or jewels—only preserved currency documents.
Gimbel’s team prioritized artifact conservation throughout the opening, ensuring salvaged materials remained intact for public display. The safe had been kept immersed in water to protect its contents from disintegration due to seawater exposure. This event demonstrated how independent salvage operations could capture public imagination while documenting maritime recovery methods.
The broadcast confirmed passengers had retrieved personal valuables before the ship’s collision, explaining the absence of expected riches and validating historical accounts of the disaster’s timeline.
The Live Television Opening Event
On August 16, 1984, television stations across the United States broadcast a two-hour documentary special titled *Andrea Doria: The Final Chapter*, which culminated in the live opening of a first-class bank safe recovered from the wreck of the SS Andrea Doria.
Director Peter Gimbel’s television production documented his expedition’s saturation diving challenges at 240 feet depth off Nantucket, where the safe had remained submerged for 28 years.
The broadcast’s audience engagement strategy centered on mystery surrounding rumored valuables:
- Pre-broadcast promotion emphasized potential multi-million dollar fortune
- Live coverage from Coney Island’s New York Aquarium maintained suspense
- Documentary footage preceded real-time safe opening
You’d witness only soggy currency and minor items inside—a disappointing conclusion critics labeled “Amateur Night.”
The special nevertheless preserved historical documentation of North Atlantic salvage operations and provided closure to the Andrea Doria saga. Gimbel had completed 30 dives to the wreck site during the course of his expeditions.
Currency and Documents Found Inside
The safe’s interior yielded 3,606 individually documented pieces of waterlogged currency—2,726 U.S. $1 Silver Certificates and 878 Banca d’Italia notes ranging from 50 to 1,000 Lire denominations.
PCGS Currency established a three-tier grading system for currency preservation: “A” grade for specimens at least 90 percent intact, “B” for 75-90 percent, and “C” for fragments below 75 percent.
After 28 years submerged at 225-250 feet in salt water, the notes survived remarkably well within the sealed safe. Document recovery revealed American Express travelers checks sandwiched between currency bundles.
Two packets containing fifty $20 bills floated to the surface upon opening. Technicians encased the fragile specimens in custom Lucite holders, treating each piece with extreme care.
The safe contained no jewels or coins—only paper currency and waterlogged documents.
PCGS Certification and Public Sale
The PCGS Currency implemented a three-tier grading system (A, B, C) to document condition variations among the 3,606 recovered notes, with Grade A designating specimens exhibiting prime preservation after 25 years of submersion.
This professional certification established authentication protocols for maritime currency artifacts and enabled systematic inventory classification across Series 1935 Silver Certificates and Banca d’Italia notes.
Rare Coin Wholesalers coordinated the 2006 public release—coinciding with the wreck’s 50th anniversary—offering collectors PCGS-encapsulated notes with provenance documentation and Certificates of Authenticity.
Professional Grading Standards Applied
Following decades of saltwater immersion, PCGS Currency established shipwreck-specific grading criteria to authenticate and classify the Andrea Doria’s recovered banknotes.
You’ll find three distinct classifications determining each note’s market value:
- Grade A: Nearly intact notes demonstrating exceptional note preservation despite 25-28 years submerged at 225-250 feet depth.
- Grade B: Notes exhibiting saltwater staining and moderate damage from first-class safe recovery.
- Grade C: Lower quality specimens certified authentic as preserved maritime artifacts.
These standards diverge from conventional currency grading, acknowledging unique environmental factors affecting underwater preservation.
The safe’s protective seal maintained remarkable integrity for 3,600+ certified notes—primarily Series 1935E $1 Silver Certificates, including 99 star notes.
Each certification validates genuine shipwreck origin, transforming standard currency into documented historical artifacts you can independently verify and own.
2006 Anniversary Sale Event
Fifty years after the Andrea Doria’s collision with the Stockholm, Rare Coin Wholesalers coordinated a commemorative public sale in 2006 that transformed Peter Gimbel’s recovered currency into authenticated numismatic inventory.
You’ll find that PCGS Currency certified 3,606 notes, establishing the first thorough documentation of the Bank of Rome safe‘s contents.
The anniversary significance drew substantial market attention to these maritime artifacts, which had survived 25 years submerged 250 feet beneath the Atlantic.
The inventory included U.S. $1 Silver Certificates, 99 star notes, Italian Lire denominations, and American Express traveler’s checks.
Each specimen received specialized grading standards accounting for saltwater deterioration.
Collector interest peaked as you could now acquire authenticated pieces from one of history’s most dramatic rescue operations, preserved in protective Lucite holders.
Ongoing Preservation and Museum Exhibits
After recovery teams retrieved the waterlogged Banco di Roma safe from 250 feet below the surface, conservators faced the immediate challenge of stabilizing over 3,600 pieces of paper currency that had spent twenty-five years submerged in saltwater.
Professional artifact conservation required encasing damaged U.S. Silver Certificates and Italian banknotes in custom acrylic blocks and specially-made Lucite holders. PCGS Currency authenticated and graded each note, assigning designations based on preservation state.
Each salvaged banknote received authentication and grading after being permanently sealed within protective acrylic cases for long-term preservation.
Exhibition planning culminated in July 2025 when the Italian American Museum opened its Andrea Doria display.
You’ll find recovered treasures including:
- The ship’s bell
- Preserved china and dishware
- A recovered diamond
These artifacts demonstrate how methodical preservation techniques transformed corroded currency and waterlogged objects into accessible historical records, granting public access to maritime heritage that survived nearly seventy years underwater.
Frequently Asked Questions
What Caused the Heavy Fog Conditions During the Collision?
The heavy fog resulted from weather patterns where you’d find the warm Gulf Stream interweaving with the cold Arctic Labrador Current south of Nantucket, creating conditions that severely compromised maritime safety through dense, visibility-reducing fog banks.
How Did Peter Gimbel Locate the Specific Safe on the Wreck?
After clearing a week’s worth of debris, you’ll find Gimbel’s team conducted systematic treasure mapping through the first-class foyer and purser’s office, enabling safe identification when rubble removal exposed the Bank of Rome safe’s precise location for recovery.
Why Did Passengers Leave Valuables in the Safe Before Collision?
You’ll find passengers followed standard maritime passenger psychology for treasure preservation—routinely depositing valuables in ship safes during voyages. They trusted the secure, bank-managed system rather than keeping items in staterooms, prioritizing protection over personal possession throughout the journey.
What Diving Equipment Was Required to Reach 250 Feet Depth?
You’d need surface-supplied breathing gases like trimix or heliox, hot-water suits for thermal protection, and decompression equipment. This deep diving demands specialized underwater technology including gas mixers, dive computers, and emergency bailout systems for safe operations.
How Much Did Individual Andrea Doria Currency Notes Sell For?
You’ll find Andrea Doria currency auction prices varied considerably based on condition. Treasure valuation ranged from $937 for three-note sets to $8,000 for premium specimens in conservation holders, with individual certificates typically selling between $150-$410.
References
- https://www.rarecoinwholesalers.com/historic-recovered-andrea-doria-money-offered-for-50th-anniversary-of-shipwreck
- https://www.pcgs.com/news/pcgs-currency-makes-inventory-of-recovered-emandrea-doriaem-bank-notes
- https://sedwickcoins.blog/2017/01/03/sunken-luxury-the-loss-of-the-ss-andrea-doria/
- https://en.wikipedia.org/wiki/SS_Andrea_Doria
- https://1715fleetsociety.com/telling-artifact-found-on-wreck-of-andrea-doria-that-sank-in-1956-off-east-coast/
- https://scholar.lib.vt.edu/VA-news/VA-Pilot/issues/1995/vp950717/07170035.htm
- https://www.banknoteworld.com/blog/the-andrea-doria-and-its-treasures/
- https://www.youtube.com/watch?v=qgDiMSYha68
- https://noblemaritime.org/andrea-doria-home
- https://www.britannica.com/topic/Andrea-Doria-Italian-ship
