Anyone see this story on the shipwreck coins this morning?
ElmerFusterpuck
Posts: 4,796 ✭✭✭✭✭
These will be at Long Beach, can't wait to see them!
https://cbsnews.com/video/sunken-treasure-from-ship-of-gold-to-be-on-display/
And a readable news story: https://cnbc.com/2018/01/29/gold-treasure-recovered-from-a-1857-shipwreck-is-set-to-make-its-debut.html
10-4,
Erik
My registry sets
9
Comments
What a great story! Thanks!
Good stuff.
Does anyone know if there's a ballpark of when these will be available for sale and how they will be sold? I want to plan ahead and make sure to grab one of the $20s if not too absurdly priced.
@PhilLynott I've been hearing March or April. It will be interesting to see what they will price at. It would be interesting to see how the first wave of sold coins from 2000 have fared in the market. It's looking like the 1857-S $20 might turn into a 'widget'!
10-4,
My Instagram picturesErik
My registry sets
Yeah depending when people purchased the last batch quite a few people are going to get crushed I imagine but that's part of the game with these sorts of things. I know I'm certainly glad I passed on a few in years past that I was eyeing.
Wish I was near CA to see the exhibit in person!
a nice catch and payday
They've dropped about 20% in the last year. I just sold one last week (1857-S in a 64 holder, nice coin) for $7500. Heritage sold one in the FUN auction for $7300. 64 CAC still sell for about $10k.
My guess is that renewed interest might bump them for a bit. I imagine they are going to sell them in the $10k range. But expect them to be below $7000 in the next year or so. Glut upon the market.
Interesting, 4:46 in the video "two spots (on the shipwreck) they have not gotten to yet"...
originally it was thought that the ship had carried a secret Army shipment
consisting of 600-50lb. gold bar boxes...or tons of additional gold
that was taken off the table a long time ago by folks with common sense
I do remember at least one article on the ship after her initial discovery that referred to her as the
Billion Dollar Boat
However, a passenger by the name of Captain Badger may of had $17,500-$20,000 (face value)
in double eagles in a carpet bag which he threw down in the Captain's cabin....
that might still be on the table...who knows?
One of the local TV channels just showed
an excellent video, about 2.5-3 minutes
long, going over the history of the ship, the
original find, the current coins and bars shown,
and info on the LB coin expo.
It was actually very interesting and informative,
and 98.5% correct.
Total dreck!
I read somewhere that all the gold recovered to date is from the cargo hold...and there is probably an equal amount in the passenger areas waiting still to be brought up...
Now that is a major Rarity-8 when it comes to coin reporting and general news.
Glad they didn't tell people to check their change to find the same coins and gold bars.
.
.
"To Be Esteemed Be Useful" - 1792 Birch Cent --- "I personally think we developed language because of our deep need to complain." - Lily Tomlin
Have you seen pcgs.com/shipofgold? We'll be adding content as the process continues.
Looking forward to more coin photos!!
From an article by curator Bob Evans:
"A great deal of treasure remains on the shipwreck site. Many contemporary accounts, published opinions of other authors, and my own analysis and logic indicate that the passengers were carrying an amount roughly equal to the listed commercial shipment. This shipment was $1,219,189.43 according to a reliable newspaper account (Aspinwall Courier, September 4, 1857.) Passengers had paid at least $150 for passage, $300 for First Cabin accommodations. Let’s say that the 400-plus passengers carried $2,500 apiece, or $1 million. With another logical assumption, that this gold was in the form of double eagles, we get tens of thousands of gold coins remaining on the shipwreck site."
It was on our local news here. Jeepers, it's only a four year old story. About time they caught up with it.
I would wait for a few months and pick up one in the secondary market as the hype will abate and there are already several thousand 1857 S $20 on the market and more will follow.
You can get a good idea of what you will pay by checking the Heritage sight. There will be many more so I would think a good number for a 60 would be about $5,000. I would get an AU example as they are priced lower and look nice. The $20 1857 S is a generic coin and appreciation is not going to be worth the money IMO over the long haul. That is why I dumped mine.
You can get a very nice book on the first recovery from Monaco rare Coins and a DVD to boot for a reasonable sum.
Linkified.
Some great information and photos there Mark!
Cool Story...Cool Shipwreck Gold...and Cool username @CaptainBlunt
Round one was most if not all double eagles...there will be many other dates and denominations in round two which should happen in March, April or May...
An amazing story of loss and recovery. The premiums paid for this gold are also amazing since they far exceed the PM value and, for the most part, numismatic value. Much like buying a celebrities socks, the value is assigned by the collector... Personally, I would not pay the premium for a story. One could get a gold coin of the same date and say 'Look, this one was lucky and did not spend a hundred a fifty years at the bottom of the ocean.' For me, it is the coin, not the story. Cheers, RickO
This is the one I want........