So these are described as nuggets and the ones that come with the sets including an actual coin are termed gold dust. Interesting since the gold in these actually look smaller than those in the sets.
@jwitten said:
Got an email from pcgs about these today. What's everyone's thoughts? The coins are higher than I want to pay, so I picked up a couple of the pinches of gold in the holders. I figured it was a fairly cheap way to be a part of the excitement. https://www.universalcoin.com/ship-of-gold-treasures?cn=UWNRANO0318
They have put together a pretty presentation but the pop of high grade $20 1857 S coins has increased significantly. i would buy the coin and place no value on the cosmetics. Frankly i would not buy a $20 1857 S as after the new wears off several will remain on the market for a very long time and the price drift downward. If a coin is dressed up in a package for sale run run run.
There is a part of me that tells me that this is interesting from a historical perspective.
But another part of me whispers that I shouldn't pay some huge premium because a piece of gold has been sitting at the bottom of the ocean for a century or more.
The gold dust is interesting, but overpriced in my humble opinion.
The market will tell - are these all flying off of the shelves?
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
I bit the bullet and bought one of the octagonal pieces. I was a little disappointed that the nuggets did not fill up the picture all the way, but it is still a cool looking piece of history. Nice chunky nuggets.
Having a piece of history from the wreck would be very cool. I'm not purchasing, though as I've got too much on my plate.
Congrats to those who are stepping up! I cant see these artifacts declining in value long term.
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
@jwitten said:
I bit the bullet and bought one of the octagonal pieces. I was a little disappointed that the nuggets did not fill up the picture all the way, but it is still a cool looking piece of history. Nice chunky nuggets.
Wow . . . Nice size nuggets there!
Need the following OBW rolls to complete my 46-64 Roosevelt roll set: 1947-P & D; 1948-D; 1949-P & S; 1950-D & S; and 1952-S. Any help locating any of these OBW rolls would be gratefully appreciated!
@roadrunner said:
Didn't realize there is more of this choice/gem shipwreck gold out there to bring up...esp. the 1857-s twenties. Increasing supplies and dwindling collector/investor base isn't a good formula.
Better values than shipwreck gold in the market today include US Mint 1 oz proof gold eagles in mint packaging for 2-3% over spot. Not much downside. And essentially no quantities from ship wrecks or overseas will show up. The mint is making very few these days....the supply of them mostly comes from the existing issues 1986-2017....about a 1.7% increase in supply per year....on par with how much gold is mined each year to add to above ground supplies (1.7-1.8%). And even at a 1.7 MILL total mintage....it's far less than BU eagles, Saints, $20 Libs, etc. And proof eagles w/packaging can go into IRA's....not so for pre-1933 US gold. And many of these have had their wrappers tossed in the quest for a PF70 grade....reducing the #'s qualifying for IRA's.
So far as characterizing these items as a “safe investment,” you are exactly right. The downside on these pieces is far lower than it is for the SS Central America recovery items which have an ever increasing supply. I know that my 1857-S $20 gold piece is going to do nothing but go down in value, which makes it a bad financial investment.
Yet the historical value, because it is a high grade example of the first design of the $20 gold piece, a relic of the economic recession of 1857 and the shipwreck story make it an interesting collectable. The trouble with the American Eagle Gold Proof coins is that they are historically sterile. There is nothing there which gets my fingers itching to own more of them.
My mistake was that I bought my relic from the SS Central America too early. I waited for the chemical problem to settle on the piece I purchased. Unfortunately, a good number of the pieces that have been “curated” went bad and developed horrendous copper spotting. After a decade, one can be assured that a piece that has not gone bad will be stable over time. The trouble is I didn’t figure on a second salvage operation which has greatly increased the supply. That will ultimately bring the prices down.
Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
I would love a gold coin from Saddle Ridge find and/or SS Central America for the history...however they are not at the top of my list because they seem so available that they can be picked up any time...good points from @BillJones about waiting a while to make sure the curation really worked...and prices to stabilize
Comments
+1
Neat presentation.
I wish I could see a real picture before I bought one. This looks pretty computer generated.
So these are described as nuggets and the ones that come with the sets including an actual coin are termed gold dust. Interesting since the gold in these actually look smaller than those in the sets.
They have put together a pretty presentation but the pop of high grade $20 1857 S coins has increased significantly. i would buy the coin and place no value on the cosmetics. Frankly i would not buy a $20 1857 S as after the new wears off several will remain on the market for a very long time and the price drift downward. If a coin is dressed up in a package for sale run run run.
There is a part of me that tells me that this is interesting from a historical perspective.
But another part of me whispers that I shouldn't pay some huge premium because a piece of gold has been sitting at the bottom of the ocean for a century or more.
The gold dust is interesting, but overpriced in my humble opinion.
The market will tell - are these all flying off of the shelves?
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
Who is selling these? Yes, hype. But I like the look.
Choice Numismatics www.ChoiceCoin.com
CN eBay
All of my collection is in a safe deposit box!
I bit the bullet and bought one of the octagonal pieces. I was a little disappointed that the nuggets did not fill up the picture all the way, but it is still a cool looking piece of history. Nice chunky nuggets.
Having a piece of history from the wreck would be very cool. I'm not purchasing, though as I've got too much on my plate.
Congrats to those who are stepping up! I cant see these artifacts declining in value long term.
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
Yeah, no. If it's actually historically significant and kind of important (which I believe it is), why try to make it into something it's no?
--Severian the Lame
Same thing that happens if a coin slab gets cracked?
Wow . . . Nice size nuggets there!
1947-P & D; 1948-D; 1949-P & S; 1950-D & S; and 1952-S.
Any help locating any of these OBW rolls would be gratefully appreciated!
So far as characterizing these items as a “safe investment,” you are exactly right. The downside on these pieces is far lower than it is for the SS Central America recovery items which have an ever increasing supply. I know that my 1857-S $20 gold piece is going to do nothing but go down in value, which makes it a bad financial investment.
Yet the historical value, because it is a high grade example of the first design of the $20 gold piece, a relic of the economic recession of 1857 and the shipwreck story make it an interesting collectable. The trouble with the American Eagle Gold Proof coins is that they are historically sterile. There is nothing there which gets my fingers itching to own more of them.
My mistake was that I bought my relic from the SS Central America too early. I waited for the chemical problem to settle on the piece I purchased. Unfortunately, a good number of the pieces that have been “curated” went bad and developed horrendous copper spotting. After a decade, one can be assured that a piece that has not gone bad will be stable over time. The trouble is I didn’t figure on a second salvage operation which has greatly increased the supply. That will ultimately bring the prices down.
I would love a gold coin from Saddle Ridge find and/or SS Central America for the history...however they are not at the top of my list because they seem so available that they can be picked up any time...good points from @BillJones about waiting a while to make sure the curation really worked...and prices to stabilize