I am considering buying this 1857-S taking from the ship wreck of the S.S Central America..But

It's like a 1970's police or detective show where the perp wants to stay in jail knowing the mob is going to kill him as soon as he walks out.

Mannix vs. The SS Central American Coins !!

 

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Yep and that's where an XRF scanner could help!

 

I just looked it up just fine.

 

PCGS Price Guide Value $10,000
$6,600 IF you're not paying tax might not be all bad.

 

Serves him right and thanks for the read shipwreck GOLD has always intrigued me but most coins are a bit out of reach. I am going to make an offer and see if the seller bites.

 

Which proves my point. Your lookup says MS63. The slab says AU53. You were unable to verify.

 

Good Luck. Post it when you get it if you do.

 

1857 SSCA and Civil war gold.

 

Good luck, you never know till you ask!

 

Until the SS Central America was found there were less than 100 MS Type I Double Eagles known for all dates combined.

 

I just ran through the numbers very fast as an approximation...and some of them close to 1857 may also have been found on the SSCA...but PCGS (alone, without NGC) has a Population of Mint State Type 1's of close to 3,000 (excluding the 1857-S) now it looks like.

I know they were rare pre-SSCA, are you sure it was that low ? I thought it was more....30-fold increase if you are correct since (assuming minimal gradeflation).

 

On the topic of shipwreck coins, I was just looking at buying this 1842-O Seated Liberty from the SS New York shipwreck, I have to have at least ONE relic coin. (I'll get one eventually, just bought more capsules and looking to get a slab binder first. )

 

I'll take one, or ten!

 

Doug Winter sounds like the Jim Cramer of numismatics

 

Yes it was that low. And yes some earlier dates were recovered as well. According to Stack Bowers around 5,000 uncirculated 1857 S double eagles were recovered from the US Central America which is more than your 3,000 figure. Now some of the coins brought up probably weren't slabbable or didn't get MS, but probably 98% or more of the MS type I double eagles came from the SS Central America.

 

Doug knows his stuff.

And Cramer, for all his MAD MONEY theatrics and gamesmanship, knows the markets. Compounded his hedge fund 20% for 18 years. Not many did that.

 

I cleared it up via an edit above, I meant 3,000 Type 1's excluding the 1857-S. I figure any SSCA's as part of that 3,000 are small relative to the 5,000 1857-S coins.

The bulk of that 3,000 increase, which has happened in just over 20 years, is non-SSCA which means new coins from SDBs or homes/estates...hoards....gradeflation coins from the AU bucket...etc.

Maybe people had the Type 1's thinking they weren't worth more than the gold content ? Had to have 1,500 to 2,000 coins ex-SSCA that helped inflate that PCGS number (and excluding double-counts, you probably can add 30-50% of the NGC pop, too).

 

Well I made an offer on the 63, I told the seller I would pay full price but he would have to kick back the tax, I live in Nevada and there no tax on gold and I am not about to start paying it no.