Options
Is the SS Republic good for the Coin Industry?
Cameo CC
Posts: 663 ✭
Last night this link came across the wire services:
[L]SS Republic and Shop-at-Home]http://news.moneycentral.msn.com/ticker/article.asp?Feed=PR&Date=20040526&ID=3744849&Symbol=US
MR[/L]
I can not get the link to work - It is having problems with the ":" then "OMR" after US
Here is the text of the article:
<< <i>
Shop At Home Network Breaks All-Time Sales Records With Odyssey Marine Exploration's SS Republic Coin Offering
May 26, 2004 5:10:00 PM ET
NASHVILLE, Tenn., May 26 /PRNewswire-FirstCall/ -- The sale of silver coins recovered by Odyssey Marine Exploration OMR from the SS Republic shipwreck and offered exclusively for sale to the public through Shop At Home Network resulted in highest-grossing sales in a 24-hour period in the 17-year history of the national on-air and online television network.
(Photo: http://www.newscom.com/cgi-bin/prnh/20040526/CLW075 )
Odyssey Marine, along with Shop At Home, which reaches more than 47-million households nationwide, sold the coins May 15 during a 24-hour coin marathon special presentation that also marked the 16th anniversary of Shop At Home's The Coin Vault program. Nearly 10 percent made online at shopathometv.com, with the remainder coming from television viewers who placed orders through the network's 1-800 number.
"The results were much better than planned for our first day dedicated exclusively to coins - and the sales record demonstrates the benefits Shop At Home has gained from this partnership with Odyssey Marine," said Mike Lubka, executive vice president and chief merchandising officer for Shop At Home. "The coin offerings were so well received by our customers that we've continued to receive inquiries even after the marathon. "
The record-breaking day featured a broad assortment of shipwreck coin packages, many of which sold out. Nine of the top 10 products offered during the 24-hour period were coins from the SS Republic. Other popular items were NGC-graded Silver American Eagle sets, silver dollars from the Binion Collection, 2004 gold and platinum coins, and many government-issue proof sets.
"After all the work we put into the archaeological excavation of these coins, and the care we took with the historical background and packaging, we wanted a marketing partner like Shop At Home that could present these products in a tasteful and informative manner," said Odyssey co-founder Greg Stemm. "We look forward to working with the network on the next phase of SS Republic coin sales."
About the SS Republic
The SS Republic was a sidewheel steamer lost in deep water in 1865 after battling a hurricane for two days. The ship, en-route from New York to New Orleans, was reportedly carrying $400,000 in specie (1865 face value) when it sank. Odyssey Marine Exploration discovered this impressive collection of coins and worked to recover the treasure through an extensive deep ocean archeological excavation conducted 1,700 feet below sea level by sophisticated robotics.
About Odyssey Marine Exploration
Odyssey Marine Exploration OMR has several shipwreck projects in various stages of development throughout the world, including the SS Republic and HMS Sussex projects. The company's vessel, Odyssey Explorer, is currently conducting the archaeological excavation of the SS Republic and the company's second ship, RV Odyssey, is conducting search operations on a number of additional projects in the Atlantic Ocean. Additional information about Odyssey, its projects and equipment is available at http://www.shipwreck.net .
About Shop At Home Network
Shop At Home Network, a division of Scripps Networks, is a nationally televised home shopping service that sells merchandise through interactive electronic media, primarily including broadcast, cable and satellite television. The company also operates a Web site at http://www.shopathometv.com . Shop At Home produces programming in digital format at its facilities in Nashville.
About Scripps Networks
Scripps Networks is comprised of the lifestyle television brands Home & Garden Television, Food Network, DIY-Do It Yourself Network, Fine Living, and electronic retailer Shop At Home Network. Scripps is one of the leading developers of lifestyle-oriented content for television and the Internet, where on-air programming is complemented with online content. In addition, Scripps Networks is aggressively developing its emerging media, including video on demand, broadband and Hispanic programming. Headquartered in Knoxville, Tenn., with offices in New York, Los Angeles, Chicago, Detroit and Atlanta, Scripps Networks is owned by the E.W. Scripps Company SSP, a diverse media concern with interests in newspaper publishing, broadcast television, national television networks, interactive media, and television retailing. Scripps operates 21 daily newspapers, 10 broadcast TV stations, Scripps Howard News Service and United Media.
© 2004 PRNewswire
>>
The sales produced from the SS Republic 24 hour sale were the largest in Shop-at-Home's history.
I do believe the the SS Republic is good for the coin industry - What about you?
Todd
[L]SS Republic and Shop-at-Home]http://news.moneycentral.msn.com/ticker/article.asp?Feed=PR&Date=20040526&ID=3744849&Symbol=US
MR[/L]I can not get the link to work - It is having problems with the ":" then "OMR" after US
Here is the text of the article:
<< <i>
Shop At Home Network Breaks All-Time Sales Records With Odyssey Marine Exploration's SS Republic Coin Offering
May 26, 2004 5:10:00 PM ET
NASHVILLE, Tenn., May 26 /PRNewswire-FirstCall/ -- The sale of silver coins recovered by Odyssey Marine Exploration OMR from the SS Republic shipwreck and offered exclusively for sale to the public through Shop At Home Network resulted in highest-grossing sales in a 24-hour period in the 17-year history of the national on-air and online television network.
(Photo: http://www.newscom.com/cgi-bin/prnh/20040526/CLW075 )
Odyssey Marine, along with Shop At Home, which reaches more than 47-million households nationwide, sold the coins May 15 during a 24-hour coin marathon special presentation that also marked the 16th anniversary of Shop At Home's The Coin Vault program. Nearly 10 percent made online at shopathometv.com, with the remainder coming from television viewers who placed orders through the network's 1-800 number.
"The results were much better than planned for our first day dedicated exclusively to coins - and the sales record demonstrates the benefits Shop At Home has gained from this partnership with Odyssey Marine," said Mike Lubka, executive vice president and chief merchandising officer for Shop At Home. "The coin offerings were so well received by our customers that we've continued to receive inquiries even after the marathon. "
The record-breaking day featured a broad assortment of shipwreck coin packages, many of which sold out. Nine of the top 10 products offered during the 24-hour period were coins from the SS Republic. Other popular items were NGC-graded Silver American Eagle sets, silver dollars from the Binion Collection, 2004 gold and platinum coins, and many government-issue proof sets.
"After all the work we put into the archaeological excavation of these coins, and the care we took with the historical background and packaging, we wanted a marketing partner like Shop At Home that could present these products in a tasteful and informative manner," said Odyssey co-founder Greg Stemm. "We look forward to working with the network on the next phase of SS Republic coin sales."
About the SS Republic
The SS Republic was a sidewheel steamer lost in deep water in 1865 after battling a hurricane for two days. The ship, en-route from New York to New Orleans, was reportedly carrying $400,000 in specie (1865 face value) when it sank. Odyssey Marine Exploration discovered this impressive collection of coins and worked to recover the treasure through an extensive deep ocean archeological excavation conducted 1,700 feet below sea level by sophisticated robotics.
About Odyssey Marine Exploration
Odyssey Marine Exploration OMR has several shipwreck projects in various stages of development throughout the world, including the SS Republic and HMS Sussex projects. The company's vessel, Odyssey Explorer, is currently conducting the archaeological excavation of the SS Republic and the company's second ship, RV Odyssey, is conducting search operations on a number of additional projects in the Atlantic Ocean. Additional information about Odyssey, its projects and equipment is available at http://www.shipwreck.net .
About Shop At Home Network
Shop At Home Network, a division of Scripps Networks, is a nationally televised home shopping service that sells merchandise through interactive electronic media, primarily including broadcast, cable and satellite television. The company also operates a Web site at http://www.shopathometv.com . Shop At Home produces programming in digital format at its facilities in Nashville.
About Scripps Networks
Scripps Networks is comprised of the lifestyle television brands Home & Garden Television, Food Network, DIY-Do It Yourself Network, Fine Living, and electronic retailer Shop At Home Network. Scripps is one of the leading developers of lifestyle-oriented content for television and the Internet, where on-air programming is complemented with online content. In addition, Scripps Networks is aggressively developing its emerging media, including video on demand, broadband and Hispanic programming. Headquartered in Knoxville, Tenn., with offices in New York, Los Angeles, Chicago, Detroit and Atlanta, Scripps Networks is owned by the E.W. Scripps Company SSP, a diverse media concern with interests in newspaper publishing, broadcast television, national television networks, interactive media, and television retailing. Scripps operates 21 daily newspapers, 10 broadcast TV stations, Scripps Howard News Service and United Media.
© 2004 PRNewswire
>>
The sales produced from the SS Republic 24 hour sale were the largest in Shop-at-Home's history.
I do believe the the SS Republic is good for the coin industry - What about you?
Todd
Todd Abbey
800.954.0270
800.954.0270
0
Comments
so guessing on what it couldve said, I guess.
I dont know how good it is to have slabs out there marked "shipwreck affect", makes one
feel anything in a slab is cheesey, and It was used to make that point to me when defending
entombment.
I didnt see the sale, but itd be funny to see exactly how much they got for those coins
and what will happen to them on the secondary market.
Go BIG or GO HOME. ©Bill
For the Coin Industry? Yes.
For the Coin Enthusiast? It's just a somewhat meaningless blip.
They still have some for sale on the web site. www.shopathometv.com
It will generate intrest in coins but also might make people mad when they take them to the local coin shop and try to sell them.
I wonder what anacs would net them at maybe xf-40
I do believe the the SS Republic is good for the coin industry - What about you?
I don't know anything about the coin "industry". Last time I checked, it was just a hobby.
Our eBay auctions - TRUE auctions: start at $0.01, no reserve, 30 day unconditional return privilege & free shipping!
Ok so 22.7 of face value $400,000 is $90,800. If every coin was a $20 gold that would be 4,540 coins.
If half was $20 gold that would be 2270 $20 gold coins and half silver half dollars that would be 80,800 half dollars.
If 1/2 of the silver coins can be graded that would be 40,400 new graded and certified half dollars coming into the market.
I belive ngc is supposed to be keeping the S.S. Republic coins in a seperate section of their pop report.
Should be interesting to see just how many good coins they find.
<< <i>Shop At Home Network Breaks All-Time Sales Records With Odyssey Marine Exploration's SS Republic Coin Offering >>
Translation: We sold more coins that are worth a fraction of what we charged to unknowledgeable people than ever before.
From the 5/24 Coin World The company has recovered 51,212 coins. 2,620 Double eagles, 1,496 eagles, 47,094 half dollars, and 2 quarters. Total face value of that is $90,907.50 If the percentages hold then there should eventually be somewhere around 200,000 half dollars, 11,000 double eagles, and 6,500 eagles recovered
I think that are nicer prices, if you can compare them...
Dennis
Like VOC Numismatics on facebook
While I guess its interesting it kind of reminds me of grave robbing.
michael
It should be {L= (use [, not {)
not [L]http://stuff]address[/L]