Treasure Hunter Released After Decade in Prison for Refusing to Disclose Missing Gold Coins

Tommy Thompson found the S.S. Central America shipwreck but was jailed for not revealing the location of 500 missing gold coins.

Mar. 10, 2026 at 6:35pm by Ben Kaplan

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A former deep-sea treasure hunter named Tommy Thompson, who made one of the greatest shipwreck discoveries in American history by locating the S.S. Central America and its thousands of pounds of sunken treasure, has been released from prison after a decade behind bars. Thompson refused to disclose the whereabouts of 500 missing gold coins from the shipwreck, leading to his imprisonment.

Why it matters

The S.S. Central America shipwreck discovery was a major historical event, as the ship sank in 1857 with 30,000 pounds of federal gold from the San Francisco Mint. Thompson's refusal to reveal the location of the missing coins sparked a long legal battle and raised questions about property rights and the obligations of treasure hunters who make major discoveries.

The details

In 1988, Thompson and his team located the S.S. Central America shipwreck, which had been lost for over 150 years, at the bottom of the Atlantic Ocean. The ship was filled with thousands of pounds of gold from the California Gold Rush. However, in the years that followed, Thompson battled with investors who accused him of cheating them out of millions. He later became a fugitive when a judge issued a warrant for his arrest in 2012 after he failed to show up in court. Thompson was eventually tracked down in 2015 and sent to prison for refusing to answer questions about the location of 500 missing gold coins valued at $2.5 million.

  • In 1988, Thompson and his team located the S.S. Central America shipwreck.
  • In September 1857, the S.S. Central America sank, along with 425 passengers and crewmembers and 30,000 pounds of federal gold.
  • In 2012, an Ohio federal judge issued a warrant for Thompson's arrest after he failed to show up in court.
  • In 2015, authorities tracked Thompson to a Florida hotel where he was living under a fake name.
  • In 2015, the judge held Thompson in contempt and sent him to prison for refusing to answer questions about the location of the missing coins.

The players

Tommy Thompson

A former deep-sea treasure hunter who in 1988 located the S.S. Central America shipwreck and its thousands of pounds of sunken treasure, but later battled with investors and became a fugitive for refusing to disclose the location of 500 missing gold coins.

S.S. Central America

A ship that sank in 1857 off the coast of South Carolina, carrying 30,000 pounds of federal gold from the San Francisco Mint and resulting in the deaths of 425 passengers and crewmembers.

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What they’re saying

“Going to prison for 10 years over a business dispute is not America. People kill people and get out in half the time.”

— Dwight Manley, California coin dealer

“It's very unusual to go on 10 years. It's a miscarriage of justice for this to have gone on this long.”

— Ryan Scott, University of Florida law professor

What’s next

The judge who originally held Thompson in contempt and sent him to prison has agreed to end his sentence on the civil contempt charge, saying he is no longer convinced that keeping Thompson in prison would produce an answer about the missing gold coins.

The takeaway

This case highlights the complex legal and ethical issues surrounding major historical treasure discoveries, as well as the potential consequences for treasure hunters who refuse to comply with court orders, even if their motivations are rooted in a business dispute rather than criminal intent.