This will be an interesting story to follow: http://www.chicagotribune.com/news/chi-shipwreck-gold-20140505,0,4857575.story
For more info, see my 4 or 5 posts in this thread: http://www.cointalk.com/threads/u-s-double-eagles-analysis-project.246286/#post-1915333
Maybe a 5% cause. The loss strongly affected several New York banks, causing a contraction of credit. Read the long article in Wikipedia for a more balanced view.
Interesting article, but this is complete BS: U.S. $20 Double Eagle coins fetch an average of $5,000 from collectors, Odyssey's chief operating officer Mark Gordon told Reuters last week. Sure, SOME double eagle coins fetch that much money and more. But representing it as an average is flat out wrong.
Perhaps, but I can easily buy a common date double eagle these days for $1500 to $1600. I can't imagine a "sunken treasure" slab is going to triple its value.
Not a MS type 1 Liberty head double eagle you can't. The 1857 S is by far the most common one and that is only because of the SS Central America. I wouldn't be too surprised if that $5,000 average figure is correct.
Yes it is...the ship sank in 1857. The article is talking about those coins verses similar coins. The 1925 Double Eagle is not a similar coin and it doesn't command the same price. They didn't go out of their way to say "Double Eagles 1857 and older..." but a little common sense tells you that the gold coins on the ship were not common date St. Gaudens.
