£34million hoard of silver coins sent to the bottom of the sea by the Nazis is discovered

A hoard of silver coins worth £34million that was sunk by the Nazis on board a steamship has been salvaged by a British-led team at a record depth of 5,150m (17,000ft).

The SS City of Cairo was travelling from Bombay to England in 1942 when it was torpedoed by a U-boat 480 miles south of St Helena, taking 100 tons of rupees with it to the bottom of the ocean.

It was long assumed that the vessel’s cargo, belonging to the UK Treasury, would be lost forever such was the complexity of the task facing salvage experts.