Shipwreck Spanish Colonial Bust-Type 8 Reales

Discussion in 'World Coins' started by man2004, Sep 20, 2018.

  1. GDJMSP

    GDJMSP Numismatist Moderator

    Maybe I'm having a brain cramp but I'm not sure what you mean by DIY. But in any case I'm not sure if a TPG would even be who should do it - I don't know if they even have the experience required to do it. Properly cleaning coins that have been recovered from the ocean is a specialty skill, and not one that many have. And I know from experience that some who claim to have it - don't !

    If it were me, and I wanted these coins separated and cleaned, there'd be 1 person I'd contact - Bob Evans.

    Now then, would properly cleaning the coins stop the deterioration caused by the salt and encrustation ? Yes, of course it would. But like with any coins, all coins, they would then still have to be properly stored to keep the air from deteriorating them.
     
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  3. ilmcoins

    ilmcoins Well-Known Member

    DIY = do it yourself
     
  4. GDJMSP

    GDJMSP Numismatist Moderator

    Ahhhhh - simple answer - DON'T !


    edit - been there done that - wished I hadn't !
     
  5. wcoins

    wcoins GEM-ber

    They're worth more like this. I'd get rid of them and get a nice specimen NGC shipwreck 8 reales instead.
     
    man2004 likes this.
  6. jgenn

    jgenn World Crown Collector

    I agree, they are worth more as they are. Since they are already heavily damaged, conservation would be a waste of money and likely devalue what you have. There are a few rare issues from this time frame 1772-1825 (e.g. 1783 Mo FM and 1778 Mo FM) but chances are overwhelming that these are common issues.

    I would label these as shipwreck artifacts and not coins so typical coin valuation methods cannot be used. I recommend reviewing Dan Sedwick's auction archives for similar clumps to see what they sold for.
     
    Eduard, man2004 and wcoins like this.
  7. Paddy54

    Paddy54 Well-Known Member

    These look to be from the El Cazador translated "the Hunter" sank in the Gulf of Mexico in 1784. A shrimper named "Mistake" nets hung up on the wreck.
    There's tons of treasure coins that have been salvaged.
    In fact I venture to say that these reales are most probably the cheapest one can find in the market.
    I've seen and have owned several specimens from this wreck. They are very common ax well as the clusters of coins that could not be salvaged for individuals coins....to far gone that they end up as just scrap sliver.
    So they sold the clusters also.... and again most probably the cheapest found on the market.
    I still have a 1/2 resale from that wreck set in a gold bezel. Smaller coins seem to hold a premium, due to less mintages and again depending on how well they survived the sea water.
    I have purchased 8 reales in NGC slabs for as little as $25! Not again understand these were not grade A coins...mostly one sided details .
    But I also have purchased better grades within reason.
    Also the ship carried roughly 450,000 reales,400,000 silver pesos,50,000 pesos in smaller coins.
    That's a lot of coins to be had as well try and sell off at a rate that won't depress the market.
    The ship was found in 1993....some 25 years later the bulk of the profits have been made....thus the coins flooding the market can be obtained as well clusters very reasonable.
     
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