I have seen lots of slabbed shipwreck coins lately. I know that companies such as PCGS and NGC generally don't slab cleaned coins. Wouldn't these coins that come out of the ocean have to have been cleaned or are they in pristine condition when found? Do the grading companies make exceptions for shipwreck coins? Also, what kind of cleaning process do you think these kinds of coins go through as many look very, very good. I've seen lots of MS64, 65 and 66 Double Eagles that are shipwreck coins.
I know last year there was a ship found off the east coast. It had a hoard of those gold coins. They went down with a robot and sucked one at a time out. They took there sweet A%@ time pulling them up from the oceans floor. Now, why they are not full of corrosion, not to sure. There was a special on the ship not to long ago, but I missed it.
I think you're refering to the Central America. LOTS of cool gold coins and bars, many still bearing original luster. I read somewhere that salt water doesn't harm gold in any way, that's why they're still so pristine. Regarding shipwreck/sea salvaged coins, that's the ONLY time in numismatics I've ever heard it's ok to clean a coin, when it's so encrusted that it's not even identifiable. I don't think old silver 8 reales etc are certified by any grading company tho I could be wrong. Nick
In the case of gold the answer is simple - gold doesn't corrode. There just isn't a whole lot of aqua regia in ocean water to affect them.
Yeah, that's what I was wondering about. I knew that the gold wouldn't corode, but wondered about the coins being all crusted up with junk living on them, etc. I wonder how they clean that stuff off without scratching the coins all up. Is it just a process where they're just dipped in different solutions and stuff and can be cleaned without rubbing and scratching them?
It is claimed that the coins are being conserved rather than cleaned. Semantics, I think, but in some cases the rationale behind conserving them is to prevent additional deterioration.
I saw some coins for the USS Republic and they were silver. They had a sheen of oxidation (sort of a grey) and they were certified by NGC as "Shipwreck effect". If they can certify a coin with its history, they seem to do so and it seems to sell. The gold never corrodes. Thats why its used in electronics so much.
Sorry Nick - just about all of them certify these coins. As a general rule - they are treated just like any other coin. But if the coin is corroded - saltwater does corrode silver - then many of them will not slab the coins. You are correct tcore - there is stuff growing on them and the coins are often encrusted. But it comes off - and you can sometimes find a gem inside Click Here to see an example of what I mean.
I should have been more specific. I was talking about the Mel Fisher type of stuff...cobs. Of course I could still be wrong. Perhaps they are certifiable too, I just don't recall seeing a Fleet of 1715 8r in a slab. Sorry for not being clear there. I'm in FL so whenever I think old 8r/sea salvage I think REALLY old 8r lol. Nick
Ahhhhh - you mean like this one ? Couldn't find any silver examples right off - but they slab them too By the way - cobs were still being struck at some of the Spanish colonial mints until well into the 1750's. The milled versions were first struck in 1732.
Yeah that's exactly what I mean...heh, funny that I've never seen one in a slab before. I wonder, are the Atocha pieces easier to sell slabbed or with the original Mel Fisher certificate? Assuming you don't have both, I mean. Thanks GDJMSP
One of these days Nick I'll tell ya a story about the Atocha But that's for a another day. To be honest with you - I've never seen a piece from the Atocha slabbed. A great many of them are corroded and nobody but ANACS will slab them. No doubt there are a few examples out there someplace though.
I've had lots of Atocha and Fleet of 1715 pieces over the years with Fishers certificate. Owned over 100 at a time on more than one occasion. Now THAT's a story of huge markup lol. The coins they sell in the touristy stores for $1500 are the same coins that coin dealers sell for around $100. I'm talking common grade 3 8r cobs, here. Grade 1's sell for more, obviously and other denominations may be worth more. I haven't had any of these in a long time but I seem to recall 2r's are very desirable.
Oh I know Nick - there's QUITE a markup. There's something about the shipwreck coins that gets people's blood movin. I can remember when I sold a few - seems like a hundred years ago though But you wanna realy stir up some excitement in Spanish colonial collectors - put some coins from the 1733 plate fleet on the market. But ya better get your football pads and helmet on - you're gonna be mobbed And they'll be offering multiples of that $1500 number
Almost no one slabs cobs because of their irreguar shape. However ANACS at least for awhile did slab some shipwreck siver cob pieces. (If you have the slab book look at ANACS 16.) As for how they are cleaned, they use a mild acid bath. The acid doesn't attack the gold so that isn't a problem. It does attack the silver and if you have ever examined any of the silver shipwreck coins you will usually see the etched surfaces from the acid and often lots of hairline from abrasive cleaning that has been done. Why do the services make these exceptions for these shipwreck coins? Money. You go to them an tell them your going to spend a half million to a million dollars with them next month if they will slab them and guess what will happen.
The reason that gold does not corrode is that all of its covalence bonds are filled. If it were a gas it would be inert.
