It's good to know the price is heading in the right direction. I think they are only about $300-$400 worth of coolness though. You're not just buying the coin, but the story that comes with it.
I hope the marketer who thought up Shipwreck Effect got a nice raise.
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
Attrative grey-white surfaces on this conserved half dollar from the famous SS Republic shipwreck. A wonderful memorabilia item where the value lies in the history more so than the numismatic quality of the coin.
I am a technical dive instructor and my gear is gassed up and ready to go. If someone knows where a wreck is, I'll go get the gold and split it with you
I would certainly consider one at $300.00, but not one cent more. Look at all the people that were sucked in to the SSCA Kellogg re-strikes and the wreckage coins.
Always took candy from strangers Didn't wanna get me no trade Never want to be like papa Working for the boss every night and day --"Happy", by the Rolling Stones (1972)
I like how the term 'shipwreck effect' is used in place of corrosion. It sounds so...... romantic and historic. It's all in the advertising and how it's promoted!
You can stick your coins in acid overnight if you want the same effect. And your net cost will be under $100.
$750 is still absurd for these damaged coins. There are tens of thousands of these silver halves out there. That makes them common as dirt imo. And another few hundred thousand waiting on the sea bottom to be discovered. I eventually see them coming down to the $200-350 where forum members might purchase one.
But I agree with Michael. These are worth $50-$125. I'd prefer a real AU that wasn't cleaned.
Always took candy from strangers Didn't wanna get me no trade Never want to be like papa Working for the boss every night and day --"Happy", by the Rolling Stones (1972)
Always took candy from strangers Didn't wanna get me no trade Never want to be like papa Working for the boss every night and day --"Happy", by the Rolling Stones (1972)
When factoring the price, don't forget you get more than the coin. You also get an elegant wood box to house your treasure, a certificate of authenticity, and a small booklet describing the treasure.
Down into the $200s, I would start to be interested.
Edit to add: I think part of the problem with the hype is the whole "Shipwreck Effect" term itself. It sounds cheesy. Just put the ship name on the holder, and don't even bother grading the thing if you don't wanna, as far as I'm concerned.
Would "Shipwreck Effect" be a good way to process and introduce onto the market a very large group of counterfeit coins? You simply get someone to manufacture bogus coins, "treat" them with whatever to mask their dubious origins, and then "discover" them on the Seafloor. You bring them to market and hype them at 10X or more of their intrinsic value.
Edit: Quite a few exiled forum members posted to this thread. >>
Quite a price drop in 2 years. Thanks for the update.
A question please and I am not trying to act naive but what is the reason most people who are exiled, barred, kicked off, etc. get that way? Flames, foul language ??? It seems like I see mention of a lot of ex-members. Thanks.
Almost anything that starts by casting a wide net will have a tough go of it in the after market. This is practically by definition, unless all the buyers become mainstream collectors. The more typical situation is that the sellers create value by finding folks outside the regular collecting community to pay the retail prices. Once the original dispersal is done, it is no longer economical to try and go locate even more buyers for an aftermarket. Whereas if something is sold within normal numismatic channels to begin with, it is a lot cheaper to find a 2nd buyer in the same narrow channels, unless it is something esoteric. There is probably some economic law that explains this, but darned if I know what it is.
<< <i> A question please and I am not trying to act naive but what is the reason most people who are exiled, barred, kicked off, etc. get that way? Flames, foul language ??? It seems like I see mention of a lot of ex-members. Thanks. >>
Not at all. A few months ago the admins got a lot tougher on folks acting out & as a result many are gone. Some have also been barred for, shall we say, non-constructive comments about PCGS.
I will pass up on these pitted & corroded over priced silver halves, but I will pay premiums on those 1856 & 1857-s $20 gold double eagle SSCA coins...
Even at $100 for a shipwrecked seated half, you are getting a grossly damaged coin. Something tells me that even at $75-150 I could not bring myself to purchase one.
I've been hoping that the 1857-S $20 Libs would come down more in price but they seemed to have found strong demand at current levels. Considering that a 1904 $20 Lib in MS65 is the only date more common in gem that a 57-s, I'd figure they'd fall back another grade point in value. But not so. And in any case, the 57-s even if conserved looks a heck of a lot nicer than most any 1904 $20 Lib.
My Dad had one of those '57's (MS62). Passed onto to me through his estate after he died. Looks really nice to me. The gold coins did much better in seawater than the silver ones.
Does anyone have current low price information on the halfs in AU/MS details. I've seen some that don't look too bad for around $200 and wonder if they will still go lower. These were like $1000 at one time, wern't they? I wonder if it's a total waste of $200, and if I should just find something else to buy?
Are these still being sold by the original promoters, or are they all resales now?
Has anyone been able to get any sw coins and "fix" them enough to get them into a "real" graded holder?
<< <i>Would "Shipwreck Effect" be a good way to process and introduce onto the market a very large group of counterfeit coins? You simply get someone to manufacture bogus coins, "treat" them with whatever to mask their dubious origins, and then "discover" them on the Seafloor. You bring them to market and hype them at 10X or more of their intrinsic value.
Could it work?
Has it been tried before?
Do we really want to know? >>
I think you would have to fabricate a shipwreck and hope no historians, or countries like Spain, are watching ? Arnt' most shipwreaks loged somewhere, as most were insured in some way.
Salt water is very corrosive. Gold does not react nearly as much or as quickly as silver. The only reason why damaged silver coins were sold at a premium is the promoters were selling the history behind the coins.
My wife bought a nice silver Philippine peso recovered from Manila bay. The Philippine treasury dumped lots of coins in the bay before the Japanese invaded during WWII. Her coin is historical and also cool in that another coin laid on top of it. So 2/3'rds of the coin has good details and the 1/3'rd crescent that was most exposed to sea water what eroded and corroded to an almost counterfeit like softness. It actually looks neat. I'll have to dig it up and get a photo...
An interesting experiment imo would be to crack out a shipwreck coin and send it in to see how they grade it. If they BB it that proves how unvalid these coins are. If it comes back slabbed it proves they dont catch all cleaned coins.
I attended the Whitman Show in Atlanta over the weekend. One dealer had one of these SS Republic shipwreck coins. I kept noticing it when I walked by, then finally stopped to look at it. I was not familiar with these coins, since I'm mostly a currency collector. But, to me, I found this coin, with its history, quite fascinating. The coin itself wasnt too bad, an 1853-o , about half of the obverse was real dull looking, the other half decent, but the entire reverse looked almost perfect. Almost pulled the trigger and bought it, at $500, but I passed on it. I've made a lot of mistakes buying on impulse. But I've been giving it some thought still, and I have the dealers contact info, now I'm considering it. I noticed this thread was started a couple of years ago, and right now, on E Bay, the $500 to $600 price range seems to be what they are going for. I would appreciate some current opinions / advice from some coin collectors here. Thanks
Comments
Not me!
<< <i>Pay a premium for cleaned coins
Not me! >>
Get it right, its CURATED!
TorinoCobra71
It's good to know the price is heading in the right direction. I think they are only about $300-$400 worth of coolness though. You're not just buying the coin, but the story that comes with it.
I hope the marketer who thought up Shipwreck Effect got a nice raise.
My posts viewed
since 8/1/6
Tom
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
I agree. $300 is my target price.
Dang-- that's expensive history.
Obscurum per obscurius
$300 sounds good to me.
Liberty: Parent of Science & Industry
under 75 dollars sounds good to me
<< <i>under 75 dollars sounds good to me >>
Still a bit high though. Have you ever seen one of those in hand? They're horrible.
Cheers,
Bob
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
$750 is still absurd for these damaged coins. There are tens of thousands of these silver halves out there.
That makes them common as dirt imo. And another few hundred thousand waiting on the sea bottom to be
discovered. I eventually see them coming down to the $200-350 where forum members might purchase one.
But I agree with Michael. These are worth $50-$125. I'd prefer a real AU that wasn't cleaned.
roadrunner
Edit: Quite a few exiled forum members posted to this thread.
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Edit to add: I think part of the problem with the hype is the whole "Shipwreck Effect" term itself. It sounds cheesy. Just put the ship name on the holder, and don't even bother grading the thing if you don't wanna, as far as I'm concerned.
Could it work?
Has it been tried before?
Do we really want to know?
<< <i>Down to $345!
Edit: Quite a few exiled forum members posted to this thread.
Quite a price drop in 2 years. Thanks for the update.
A question please and I am not trying to act naive but what is the reason most people who are exiled, barred, kicked off, etc. get that way? Flames, foul language ??? It seems like I see mention of a lot of ex-members.
Thanks.
Chance favors the prepared mind.
<< <i>
A question please and I am not trying to act naive but what is the reason most people who are exiled, barred, kicked off, etc. get that way? Flames, foul language ??? It seems like I see mention of a lot of ex-members.
Thanks. >>
Not at all. A few months ago the admins got a lot tougher on folks acting out & as a result many are gone. Some have also been barred for, shall we say, non-constructive comments about PCGS.
I've been hoping that the 1857-S $20 Libs would come down more in price but they seemed to have found strong demand at current levels. Considering that a 1904 $20 Lib in MS65 is the only date more common in gem that a 57-s, I'd figure they'd fall back another grade point in value. But not so. And in any case, the 57-s even if conserved looks a heck of a lot nicer than most any 1904 $20 Lib.
roadrunner
Are these still being sold by the original promoters, or are they all resales now?
Has anyone been able to get any sw coins and "fix" them enough to get them into a "real" graded holder?
<< <i>Would "Shipwreck Effect" be a good way to process and introduce onto the market a very large group of counterfeit coins? You simply get someone to manufacture bogus coins, "treat" them with whatever to mask their dubious origins, and then "discover" them on the Seafloor. You bring them to market and hype them at 10X or more of their intrinsic value.
Could it work?
Has it been tried before?
Do we really want to know?
I think you would have to fabricate a shipwreck and hope no historians, or countries like Spain, are watching ? Arnt' most shipwreaks loged somewhere, as most were insured in some way.
My wife bought a nice silver Philippine peso recovered from Manila bay. The Philippine treasury dumped lots of coins in the bay before the Japanese invaded during WWII. Her coin is historical and also cool in that another coin laid on top of it. So 2/3'rds of the coin has good details and the 1/3'rd crescent that was most exposed to sea water what eroded and corroded to an almost counterfeit like softness. It actually looks neat. I'll have to dig it up and get a photo...
Thanks