A local scientist is using new technology in the century-old search for 1,400 silver Guggenheim bars lost off the Jersey Shore.

Aqua Survey President Ken Hayes is using special sonar to find the long-lost silver. The treasure slipped off a barge somewhere between New Jersey and Staten Island in 1903.

"Imagine taking a 75-pound bar and dropping it in the mud. It's going to zip right down until it hits something firm enough," says Hayes. "That's why we weren't able to find it."

Hayes says his team has narrowed down the silver's location to 272 possible spots using a device called a vibracore. The special sonar is used to scan for metallic objects deep in the mud.

If Hayes and his team do recover the silver bars, there's the possibility of serious financial reimbursement. Experts say the bars could possibly be worth as much as $20,000 each. Hayes says legal precedent shows he will be able to keep 90 percent of the value.