Bank notes go on sale from 1956 Andrea Doria disaster

St. Louis Post-Dispatch 
By Peter Rexford 
Monday, May 29, 2006

Half a century ago this July 26, America woke up to news that had many fearing a repeat of the 1912 Titanic disaster: A Swedish ship, the Stockholm had slammed into the side of an Italian luxury liner, the Andrea Doria, off Nantucket, Mass.

The Andrea Doria had even been compared to the Titanic because of its opulent decor catering to the wealthy and its "unsinkable" design.   Elaborate artwork filled the first-class areas, and service was said to beyond reproach.

That morning, no lifeboats could be launched because the ship was listing too far to one side.   But the ship was sinking much slower than the Titanic and, and it was closer to land.   It gave passengers and crew time to gather valuables as rescue ships approached.

Of the more than 1,700 passengers and crew on board, only 46 died.

Two safes, one from the onboard bank and the other in the purser's office rumored to contain a bag of diamonds, went down with the ship.

In 1981, a salvage team led by department store heir Peter Gimble and his wife, Elga, moored over the wreck for a month but were able to recover only the bank safe. It was opened on live television three years later.   Inside, the team found stacks of U.S. and Italian bank notes.

Steve Contursi, president of Rare Coin Wholesalers, said many of the bills survived with minimal wear.

"Peter Gimble made a mind-boggling effort during a hurricane to locate and retrieve these notes encased in packets of mud and salt water for future generations," he said.

In the next two weeks, to mark this year's 50th anniversary of the disaster, those bills will be offered to the public.   U.S. one-dollar Silver Certificates are dated 1935. Banca d'Italia notes are dated from 1947 to 1951.

The bank notes and a certificate signed by Gimble and his wife are being offered to collectors in the original Plexiglas holders in which they were placed in the mid-1980s.

Each U.S. bill has all been graded for quality.   In A condition, more than 90 percent of the bill survives.   Each is priced at $999.   B-grade notes cost $750 and have 75 percent to 90 percent of the bill remaining.   C-grade notes have less than 75 percent remaining and are priced at $500.

None of the Italian 1,000-lira notes has been graded.   Each costs $695.

For more information about the bank notes from the Andrea Doria, visit www.rarecoinwholesalers.com or call 1-800-347-3250.