The ship sank in Lake Superior just outside the harbor of Duluth, Minnesota, United States, on 7 June 1902, after a collision with the George Hadley.

The wreck of the Thomas Wilson is one of the best remaining examples of a whaleback steamer, and it is also significant for the changes made in operating procedures at the Duluth harbor.

[2] The whaleback was designed by Captain Alexander McDougall to carry cargoes of iron ore or grain economically around the Great Lakes.

The captain of the George Hadley ordered an immediate turn to port without noticing the direction of the Thomas Wilson or blowing the required whistle signals.

The wreck was listed on the National Register of Historic Places under the name Thomas Wilson (Whaleback Freighter) Shipwreck in 1992 for its state-level significance in the themes of engineering and maritime history.