Shipwreck Effect coins.
PoseidonCoins
Posts: 11
I have been a collector of sea salvaged coins for many years. Recently on ebay there have been many coins slabbed by NGC as "shipwreck effect" coins. Throughout all my years of collecting coins salvaged from ocean wrecks, I have never seen this "shipwreck effect" before on any other coins. These coins that are being marketed are suffering from a harsh and unprofessional cleaning. Does anyone else think its wrong on NGC's part to make up a bogous effect that justifies slabbing harshly cleaned coins? Has anyone been keeping track of how these coins are selling? Also, if done properly, those coins could of been salvaged and cleaned without the traces of NGC's "shipwreck effect".
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I'm gonna wait until they fall 90% in price before getting my first one.
roadrunner
<< <i>Wow if you can do a better job with them than ncs apply for a job there. >>
<< <i>Does anyone else think its wrong on NGC's part to make up a bogous effect that justifies slabbing harshly cleaned coins? >>
There are many who have expressed the opinion that this was wrong of NGC to do. Personally, I couldn't care less. It's simply another approach to marketing the coins.
<< <i>These coins that are being marketed are suffering from a harsh and unprofessional cleaning. >>
Do you believe that you could have done a better job conserving silver that sat at the bottom of the ocean for all that time?
Russ, NCNE
I couldnt' do a better job, no. But cleaning coins salvaged from the ocean isn't a new science, and there are many labs that have been doing it since the 60's. The coins can be cleaned without leaving the harsh marks that NCS has. I didn't mean to touch a nerve with anyone, I just personally think it is unethical to market something as one thing, when it isn't that. And, I was looking for other opinions and discussion.
<< <i>The coins can be cleaned without leaving the harsh marks that NCS has. >>
The harsh marks as you call them are not a result of the conservation effort. They are a result of corrosion.
Russ, NCNE
Some people are on the side that you shouldn't buy something you know nothing about and others are on the side that they should be in ncs holders with the problems plainly stated like salt water damage or whatever.
William S. Burroughs, Cities of the Red Night
I don't know what the eBay sellers are saying or rather not saying.
<< <i>The coins carry no grade but to the new collector or uniformed they might not know any better.
Some people are on the side that you shouldn't buy something you know nothing about and others are on the side that they should be in ncs holders with the problems plainly stated like salt water damage or whatever. >>
I would love to own one simply from the historical point of view, but prices will have to come down some. And, its nice to see one of the major grading companies willing to slab material that they normally wouldn't. I wonder if its a trend that will repeat itself. If you are willing to slab corroded coins because they are from the sea and historic, why not slab corroded coins found buried in dirt from a large and historical cache?
I'd like to have one for the historic value, but I wouldn't pay what they want now for them, so they'll probably stay on the list of things I want but won't every have.
Numismatic Conservation Services (NCS) is part of the NGC family and they "conserved" the coins.
The shipwreck effect is a marketing term just for the SS Republic coins.
I guess it's better than calling it "a coin that was at the bottom of the ocean for over a century and this is what it looked like after we cleaned it", so shipwreck effect sounds a lot nicer.
Thank God for the Sales & Marketing folk.
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since 8/1/6
Many coins salvaged from shipwrecks were not exposed because they were buried under other coins or something else that kept them protected from the ravages of the sea. Those won't show the signs of corrosion that appear on coins exposed to the ocean. Many of the coins recovered from this shipwreck will also not have these problems and will be graded in regular holders. These are just the first and the worst.
Russ, NCNE