This is supposedly a 1783 Spanish 8 Reale Shipwreck Coin. If it is a true old sunken treasure coin, it is in remarkable condition. I read that these were originally made of silver. This coin appears to be cast or very eroded. It could be that this is a fake coin conditioned to resemble a coin under water for many years. What is your opinion and condition of this coin ? PS - Sorry about the pictures. I can't adjust the bright lights on the scope. Dave
Those surfaces are indicative of a sea salvaged coin, NOT casting. I've seen plenty of both. I even own several Philippine issues salvaged from Manila Bay.
These coins usually will end up in a GENUINE holder from NGC bearing the label "SHIPWRECK EFFECT". I always look to try to purchase one but I can never come across one for a fair price.
So the consensus is, is that this is a real salvaged coin. Gbroke, That's just an airtite right? Make it visible. I'd rather NOT take the coin out of the container, as I am old and clumsy. K2, just so I know i'm in the ball park, how much would someone pay for a coin such as this ? Dave
Doug, I bought this from a coin store. If this was a salvaged coin from El Cazador, should it not have been noted on the offer ? Were there other coins like these that were not from El Cazador, although this does look like a salvaged coin to me. How can I tell if it is a silver coin ? Dave
I was recently looking at one, they can range from $30-75+ all on the condition and what they buyer is willing to pay. And like I said, I'm still trying to find one like the one that you have, except i'm looking for graded ones. Just for a rough idea: http://www.google.com/search?client...be007470f937d&bpcl=37189454&biw=1566&bih=1205
Not necessarily. Your seller may not even be aware that it is probably an El Cazador coin. Or he may be all to well aware of it and decided not to say so because a lot of folks don't like or want sea salvaged coins. Yes, of course there are. These are fairly common coins and it is not hard to find examples that are undamaged by salt water. I can't see anything that makes me think it is not a genuine coin. You can weigh it, but it is almost certainly going to be underweight because of the corrosion. So weighing it really isn't going to prove anything either way. As for value, what K2 said is about right. But I myself would never buy such a coin, even for $30, because they are damaged coins and I know how easy it is to find undamaged examples. And while the coin has a certain "cool factor" because it is a shipwreck coin, that "cool factor" doesn't change anything for me. For others, perhaps it might.
