Is it true?

A friend of mine sent me this.

The S.S. Central America...coins sold exclusively by Heritage, David Hall, Bowers and Merena and others, mostly PNG members/PCGS dealers. Over 5,000 coins that had been buried at sea for over 120 years encrusted with coral were treated with all kinds of chemicals to remove the encrustations, were miraculously restored to PCGS MS-65 at $15,000.00 a coin. The PCGS holders do not say SEA SALVAGED nor SALT WATER nor CORAL ENCRUSTED, no they have been graded by PCGS as MINT STATE.

Also check this out the link below about PCGS. It was sent to me by a local collector. I must state he collects only NGC slabbed coins. I collect both, or should I say did.

http://www.ftc.gov/opa/predawn/F93/pcgs-coin8.txt