I just finished watching the National Geograhic special on the recovery of the SS Republic that sank in a hurricane in October 1865. The $400,000 face value of the gold and silver coinage will exceed $75 million once its all collected, cleaned up and graded by NGC. My question: Is there anyone out there who is lucky enough to own one of these beautiful pieces?
Most really don't classify as beautiful any longer. NCS did a fine job of conserving the coins, but most still bear the scars of being on the sea floor for over a hundred years. I have bought and sold a couple this year, but still have a tough time justifying the costs involved. Personally, I do not believe that they are worth the prices paid. Of course, I have to buy what the customer wants
Yes, I too, think they are very/too expensive. Good thing the ship sank before the Morgan silver dollar was around. I love morgans and resistance would be futile.
Just about any shipwreck coin is double, triple or more what the same coin in the same grade is - that is not from a shipwreck. But the dang things sell like hotcakes at a lumberjack convention !
One reason a collector buys a coin is for its historical value and whether it is beautiful or not is beside the point. I for one would love to have a coin from the SS Republic as well as one from the other two wrecks that have been salvaged within the past year or so.
What else could you pay 3 times too much money for just to have the pedigree. For shipwreck coins, I would highly suggest that you buy a metal detector and walk the beaches between Delaware and Florida. So many ships carrying coins met their fate in these cold dark waters. Often the coins found are from the Spanish Mints in Mexico, but still nice and best of all free to those who find them. For those who wish to buy recovered coins, stay with the world and spanish coins. They have just as much history (if not more) and are far cheaper.
Amen to that... in fact some worl shipwreck coins sell for less, cos it can go on grade, especially hammered variety. Unless we're talking the Mary Rose or the Titanic or something then well it's a whole different story, the price will go up! I for one would love to have a coin from the Titanic. Cos that was a subject i was very very interested in.
I understand the fascination with recovered objects. I have purchased items such as coal from the Titantic and paid way too much for a piece of coal. I am not saying that I am any better or worse at falling for the hype of the marketing. I just tend to waste my money in different areas
