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<p>[QUOTE=&quot;Lucky Cuss, post: 1847717, member: 44086&quot;]Well, it appears that this thread may be a nonstarter insofar as eliciting any new information, but in the meantime, I&#039;ll post some additional pertinent material in case this discussion gets resurrected in the future.</p><p>&nbsp;</p><p>I had found one decent recounting of the discovery and salvage of the <i>El Cazador</i>, but many specifics that I&#039;d be interested in knowing are lacking.&nbsp; Still, it may be worth a look to anyone who&#039;s interested.&nbsp; See: <a href="http://www.elcazador.com/ElCazador.pdf" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.elcazador.com/ElCazador.pdf" rel="nofollow"><u>http://www.elcazador.com/ElCazador.pdf</u></a></p><p>&nbsp;</p><p>To the question of how NGC authenticates coins as coming from a particular wreck, this is what they have to say regarding that point on their website: &quot;NGC Shipwreck Certification uses the term GENUINE to describe authentic shipwreck coins and artifacts with confirmed and documented origins. Recovered artifacts may be identified by attestation from the individuals who discovered the wreck, an independent archeological survey or other means. The assigned pedigree and authenticity of the wreck are subsequently confirmed independently by NGC experts. While often available, additional archaeological evidence is not necessary to support this designation.&quot;</p><p>&nbsp;</p><p>I&#039;ve inquired, but for whatever reason, NGC seemingly either can&#039;t or won&#039;t say just how many 8 reales from the <i>El Cazador</i> they&#039;ve authenticated, but it has to be at the very least hundreds, and probably thousands, and of course there are evidently many more that never were NGC certified,&nbsp; As was noted before, most of those brought up from this wreck were supposedly dated 1783.&nbsp; Now I checked NGC&#039;s population of the the 1783 Mo 8 reales submitted under normal circumstances, and they number only a mere dozen, with the highest graded being a single MS-61. How the bounty of <i>El Cazador</i> 1783&#039;s affected the value of these &quot;ordinary&quot; ones I can&#039;t say for certain, but I suspect it had to depress their worth to some significant degree.&nbsp; However, I admit that I don&#039;t see that a dip for that date has manifested itself in the catalog to confirm that.&nbsp; If NGC ever gets back to me with a census of <i>El Cazador </i>certified coins, I&#039;ll post that datapoint here.</p><p>&nbsp;</p><p>Odyssey, the company that brought up the coins from the <i>Republic</i>, engaged individual numismatists (as well as NGC) at an early stage in processing their coins, and thus was made cognizant of the potential impact that the release of large quantities of a single date and denomination could have on pricing.&nbsp; What helped Odyssey out in avoiding this peril was the relative diversity of what was recovered, which meant they could afford to heed advice against flooding the market with any one issue. I&#039;m also working on getting a detailed inventory of that haul.</p><p>&nbsp;</p><p>I&#039;ve finished the book on the <i>Republic</i> and have started on the one telling the story of the wreck and salvage of the <i>Brother Jonathan</i>.&nbsp; I&#039;d still like to find a really detailed account of the retrieval of the <i>El Cazador</i> cargo.</p><p>&nbsp;</p><p><font size="3">Finally, any comments on the condition of the particular coin with which I started this thread?</font>[/QUOTE]</p><p><br /></p>

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