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<p>[QUOTE="panzerman, post: 3008164, member: 77704"]I think they will, well they started dropping last year, before this recent story came to light.Unlike with the diamonds, everyone now knows the exact number of coins recovered, yet to be salvaged from ship's manifest, exact records exist of the number of 1857-S that were on board. But once the panic mode sets in, collectors with the "overpriced examples" will want to unload, before prices drop more, that's human. Same thing happened to Morgan Dollars. Recent history, the Shah Jahan I AV Mohur from Surat Mint/ dated 1630. When the "Akola Hoard" was found, prices dropped 95%....I bought a perfect gem example for $400 in 1990. Could never had afforded it before that. Same with Chile 1751-So Santiago Mint AV 8 Escudos Fernando VI of Spain, before the La Neustra treasure was salvaged, these coins were impossible in mint state quality. I bought a MS GEM 1751 for $3200. Now that wreck had NO where near the number of example the SS Central America has. $3200 was a fair price....[/QUOTE]</p><p><br /></p>
[QUOTE="panzerman, post: 3008164, member: 77704"]I think they will, well they started dropping last year, before this recent story came to light.Unlike with the diamonds, everyone now knows the exact number of coins recovered, yet to be salvaged from ship's manifest, exact records exist of the number of 1857-S that were on board. But once the panic mode sets in, collectors with the "overpriced examples" will want to unload, before prices drop more, that's human. Same thing happened to Morgan Dollars. Recent history, the Shah Jahan I AV Mohur from Surat Mint/ dated 1630. When the "Akola Hoard" was found, prices dropped 95%....I bought a perfect gem example for $400 in 1990. Could never had afforded it before that. Same with Chile 1751-So Santiago Mint AV 8 Escudos Fernando VI of Spain, before the La Neustra treasure was salvaged, these coins were impossible in mint state quality. I bought a MS GEM 1751 for $3200. Now that wreck had NO where near the number of example the SS Central America has. $3200 was a fair price....[/QUOTE]
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1857-S Double Eagle/ vastly overpriced....
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