The legend of the Grosvenor treasure originated in 1880, when a few gold and silver coins were washed up on the beach near the scene of the wreck.
The Natal Mercantile Advertiser of 23 February 1880, referred to this with the remark “it shows there must have been large quantities of bullion on board”.
According to some documents these were – in addition to personal treasure to the value of 36 million rands – 162 378 gold coins, 19 chests of precious stones, 720 gold bars and 1 450 silver bars, a treasure according to present valuations worth 34 million rands. A number of attempts have already been made to salvage this legendary treasure, but up to now without success.
As recently as 1963 a Belgian-South African company with a share capital of R400 000 was formed with the intention of sinking a vertical shaft on land and from the bottom of this shaft digging a horizontal shaft to the bay where the wreck rests. The sand can then be pumped out and divers can salvage the treasure from the wreck.
Percival R. Kirby, who produced the most authoritative work on the Grosvenor , is very sceptical about the existence of the suspected treasure.In his book:
” The true story of the Grosvenor East Indianian ” (1960) he states: ‘Undoubtedly the Grosvenor was a richly laden vessel…. but the visions of bullion (if by that is meant hundreds of bars of gold and silver), and of scores of chests of diamonds, rubies, emeralds, and the like … are but idle dreams'.
