Gracie was among approximately 2,200 individuals aboard the Titanic, bound for New York City, of whom over 1,500 perished in the disaster. The first-class passenger composed his letter from cabin C51 while the ship was anchored in Queenstown, Ireland. Auctioneers praised the letter for attracting the highest price ever for Titanic correspondence. Gracie later chronicled his survival story in the book "The Truth About The Titanic," detailing his harrowing escape by finding refuge on an overturned lifeboat amid freezing waters. Although he survived the notorious sinking, his health deteriorated due to hypothermia and injuries; he fell into a coma later that year, eventually passing away from diabetes complications.