From Davy Jones, a Tax Shelter

An improbable investment yields riches from the ocean floor

For most investors, a tax shelter is about as tangible as an electronic banking transaction: a piece of paper documenting their part ownership of a shopping mall in the next state or an oil-drilling site half a continent away. But for some 30 investors with a special sense of romance—and risk—the payoff from an unusual Florida operation was the kind they could touch, even fondle: silver ingots the size of paving blocks, gold chains, gold bars, fistfuls of gold and silver coins, a coral-encrusted...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!