Authentic Atocha Reale 8?

Billie Messer · Sep 28, 2022

GDJMSP said: ↑

There's two things to consider: is it a genuine coin, and is it a coin that was recovered from the Atocha.

Just as a coin, one in that condition wouldn't have any value to speak of really even if it is genuine (which I cannot tell based on your pictures). Just as a guess, $200 if you're lucky. And what value there is would be greatly lessened, probably by at least 50% and quite possibly more, because it's been made into jewelry.

The other aspect of value is the provenance from the Atocha, what I've always referred to as the "cool factor". Now how much that premium that amounts to, that always depends on the buyer, and the seller. The buyer, well, most buyers of the Atocha coins didn't know squat about coins. And they paid absolutely ridiculous prices for most of them. To say they paid "stupid money" doesn't really come close to describing just how ridiculous those prices were. And the sellers, well they hype things up like some sellers do so as to be able to prey upon the unknowing and their asking prices can vary greatly.

I've been in the tourist traps in the Keys, many times, and looked at the coins they offer to sell, sometimes asking as much as $2000-$3000 for them. And the whole time those coins aren't worth but a tiny fraction of that. But those who don't know often pay it anyway thinking they are really buying something. And in some cases the coins aren't even genuine. In other cases it might be claimed the coin has particular provenance - when it doesn't - but the claim is made anyway.

As has already been mentioned the Atocha coins came with paperwork when they were originally sold. But many of those who originally bought them didn't bother to keep the paperwork, and in later years they might have sold the coins or passed them on to heirs. But without the paperwork, there is no provenance, and any perceived value (which in reality is minimal to begin with) for such disappears right along with the missing papers.

And then there are the cases where the paperwork (just the paperwork) is found by somebody, and sold, and then put with another coin that came from someplace else entirely. And buyers have no idea, no clue, for there is no way, none at all, to say that this coin or that coin goes with this or that paperwork.

So where does that leave you ? Well, you have a coin, that has been made into jewelry, and in its condition might be worth $100 or so. But, if you have the necessary paperwork, who knows what it might be sold for. For yes, the famous saying by Mr. Barnum applies

Now you don't have to be an expert to know any of this stuff, it's all pretty much common knowledge. And I would never even pretend to be an expert on these coins ! But I did actually know Mel Fisher back in the 70's when I lived in the Keys. And there's a lot that can be said about the man, not all of it good. And I was also the original discoverer of a Spanish galleon from that period myself. Never got rich like Fisher did because I never found the mother lode, just a few coins, her anchor, and two of her big cannons, before I moved away and left the Keys. Point being I do know a little bit about this kinda stuff.
Click to expand...

Kane… lol. Is this you? I am Billie. The little blonde who accompanied Joe Brem, an investor and who like many had the opportunity to party with you in several occasions. I’d like to hear from you. From what’s written about the cannons and anchor you gave yourself away

Log in or Sign up to hide this ad.

GDJMSP · Sep 30, 2022

Billie Messer said: ↑

Kane… lol. Is this you?
Click to expand...

No, not Kane. You apparently have me confused with someone else.

Log in or Sign up

Authentic Atocha Reale 8?

Billie Messer New Member

Guest User Guest

GDJMSP Numismatist Moderator

Share This Page

Log in or Sign up

Authentic Atocha Reale 8?

Billie Messer New Member

Guest User Guest

GDJMSP Numismatist Moderator

Share This Page

Useful Searches