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<p>[QUOTE=&quot;GDJMSP, post: 1617756, member: 112&quot;]Shootist - </p><p><br /></p><p>First of all, in my opinion the Atocha coins are so over-priced that it is ridiculous, beyond ridiculous even. The majority of them were sold to tourists and people who knew little to nothing about coins. And that&#039;s the only reason they brought the prices they did. No serious collector of Spanish colonial coins would ever pay anywhere near what they cost - never !</p><p><br /></p><p>Secondly a grade 3 is a coin that has pretty severe corrosion damage. But even those grade 3 coins were sold for way more than they were worth. </p><p><br /></p><p>To see what I am talking about all you have to do is look up realized prices for the same kind of coins as those found on the Atocha, meaning same dates, mints, and denominations. Those coins sell for a small fraction of what the Atocha coins sell for. The only differences being they were not on the ship and they do not have the corrosion damage that pretty much all of the Atocha coins have.</p><p><br /></p><p>To see an even better comparison you can also check the realized prices on coins from other shipwrecks. Yes, shipwreck coins often sell for a premium purely because they came from a shipwreck. People think that is cool. I don&#039;t disagree, I think it&#039;s pretty cool too. But the premiums those shipwreck coins bring is no where near what the Atocha coins bring. And the premium is usually only a little above what the same coin, a non-shipwreck example, would bring.</p><p><br /></p><p>Take the El Cazador coins for example. When they first hit the market people were paying stupid money for them as well. But now that a few years have passed, the same coins that sold for hundreds of dollars now sell for $60 or $70. That is because people have wised up and learned the truth.</p><p><br /></p><p>What this tells you is that the prices for the Atocha coins is based purely on hype and advertising. People see other people pay stupid money for the coins, so they think they should pay stupid money for them too. And they do ! </p><p><br /></p><p>You can draw your own conclusions.[/QUOTE]</p><p><br /></p>

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