Has anyone bought one of these ? National Geographic Magazine has an add selling a genuine coin in it's latest issue. They are $49 plus shipping, of course condition is probably awful. I really want one, no matter how bad it is. Anyone else have one? Scan maybe? Thanks
I saw the same ad in a March Newsweek. Seriously, the ad raises a lot of questions: What is the name of the "Spanish warship"? How did a "fisherman" recover the coins, items usually recovered by experienced divers?
Apparently it was called El Cazador The shipwrek that "changed the world" http://elcazador.com/ Very interesting website, with many "original" artifacts from the wrek offered for sale by The Franklin Mint, who hosts the website linked above. I phoned the number in National Geographic and the woman who answered identified herself as an employee of "The First Federal Mint". She assured me the coins for sale were minted in the 18th century and genuine artifacts from the wrek. She also mentioned these coins were found in shallow salt water which, over time, has a negative effect on silver. The condition varies a great deal coin to coin, some in very poor condition/grade. There is a 30 day return policy as well. Hm.....
Forget the coins from the El Cazador. Every single one of them is badly corroded and in very bad shape - every one ! Also overpriced, particularly in these ads. The salvors of that ship have so many of the dang things that they can't even give then away to knowledgeable collectors. If you want a coin of this type, then conatact Dan Sedwick here - Sedwick Coins - him you can trust and he is the leading expert on this type of coin. An employee of his a member of this forum as well - Macuquina - contact him if you like. And they have an auction upcoming in a few weeks - refer to this - HERE
Thanks! I will check those links out. I am actually very interested in this type of coin. I am not so sure I can afford anything of decent quality, but maybe if I save up a while.... :smile
They are certified to be shipwreck coins but not graded. They are dated from 1772 to 1783 although the promo video says all the recovered coins were 1783 dated. The price of nearly $300 os about 10 times what you can find reasonable examples for. Mine is a bit corroded on the obverse but the reverse is about a good as you can find, and it only cost me $30.
Here's what the el Cazador coins looked like when they were recovered (not the one in the center) Here's another shot after the piles were partly broken apart. While some of these do clean up nicely, most do show the affects of being in saltwater for 200+ years. Here's a partial shot of all the coins that were recovered. The Franklin Mint purchased 360,000 of these coins;other "mints" have also purchased some, as has QVC and other resellers. You should know that the ones that are advertised are the best looking and highest priced of the bunch. There are many other sources for Reales that offer nice examples at far lower prices. Look around, you'll find them.
Personaly I woudnt buy one but then again if you have a interest in things nautical and spanish history the temptation would be there, it is though quite a money spinner for them I wonder what price qvc will put on em LOL
There were a lot of complex business negotiations after the El Cazador coins were discovered in 1993. The salvagers tried and failed over a period of years to make a deal to sell the coins. A few leaked out but a bulk sale deal was finally made with Franklin Mint to buy the best of the lot, which they would sell in a variety of formats (singles, multiples, blobs, jewelry, etc.) in nice wooden boxes, NGC slabs, and "certificates of authenticity". Franklin Mint contracted with QVC to sell the first batches. I bought one (8 reales) of the first ones, overpriced of course, and was pleased with it. My interest is only is historical significance, not investment value. Franklin has apparently sold most of it's inventory and now the products are showing up on the seconday market - eBay, ect. The salvagers also made other deals with other "mints" to sell the lower grade, more corroded coins. GovMint.com (who is the company that is placing all the ads in magazines) is selling two varieties -- highly corroded with no visible date, and a medium corroded version on which the 1783 mint date is clearly visible. However, the marketing agreement is that they can't use the name of the ship, the El Cazador (because Franklin had exclusive rights), and the coins are being packaged and sold as "America's First Silver Dollar." I have bought a few of these, primarily as gifts, and again for the historical value. Actually, I prefer the more corroded versions as they look like they've been on the bottom of the ocean for 200 years.
Thanks for that explanation, it makes total sense now. I also bought one (see my scan a few messages back) and love it. The reverse is a blur with only a faded image left, but the obverse is quite striking, aged of course by the sea, but the date is clear.
