Full Page Shipwreck Coins in Field & Stream

[WoodenJefferson]

Advertisement out of the June 2008 issue of Field & Stream

 

The heading claims they were lost for 209 years under the sea, but in the body of the article it stated that the ship was sailing in 1784 so I would assume that this wreck was discovered in 1993.

 

A simple search revealed a possible candidate:

 

On January 11, 1784 El Cazador sailed from Vera Cruz, Mexico for New Orleans carrying 450,000 pesos of silver Reales. The vessel and its crew disappeared into the winter sea, sinking without a trace. The Spanish needed this shipment to stabilized the weak monetary system in colonial North America. Spain lost Louisiana to France's Napoleon, who sold It to the United States. On August 2, 1993, the shipwreck of El Cazador was accidentally discovered by Capt. Jerry Murphy of the fishing vessel "Mistake".

 

The treasure of El Cazador has arrived after 209 years - the longest voyage.

( 1784 - 1993 )

 

Note: not affiliated with this nor do I condone buying shipwreck effect coins. Just an FYI article.

 

[cpm9ball]

FYI! Thanks for posting this Woody.

 

Chris

[Conder101]

I like that picture of the Spanish colonial 8 Reals in the top left corner. A great example of the "shipwreck effect" that was claimed to be "highly prized by collectors" in the initial press release on this shipwreck. Don't you folks just LOVE how that coin looks? I'm sure you all wish all you coins had that wonderful "shipwreck effect"

 

CORRECTION! I wasn't thinking, the Press release I was referring to was the one for the recent discovery of the SS New York. The quote that "Shipwreck effect" was highly desired by collectors was by someone who should really have known better, Q David Bowers, so it had to be strictly for marketing purposes.

[MikeInFL]

When did corrosion and sandblasting become collectable?

 

I can understanding wanting to own a shipwreck coin, but not for it's aesthetic appeal.

[MBA101]

Actually, they are only asking $49 a pop + shipping and handling per coin, or at least think that's what it says in the article. I could almost be tempted to buy one just for the heck of it. It is after all 230 years old.

[MikeInFL]

That price seems almost too good to be true....

[ant]

someone fished up a el cazador find awsome.

 

i dont like shipwreck coins all to much cause one side is always trashy.

[BillJones]

That price seems almost too good to be true....

 

Yes I've been at shows were a dealer was offering shipwreck coins (in this case 1861-O Liberty Seated half dollars in a fancy mahogany box for $4,500. That’s like sewing some pig ears together and offering them as a Gucci bag for $1.500.

[James_OldeTowne]

I've seen this same ad pop up in several other non-numismatic magazines.

[Oldtrader3]

This "Govmint.com" outfit has just loads of raw junk coins at overinflated prices, examples:

 

1921-P, AU, Morgan dollar-only $39.00 ea.

100 YO, XF, half eagle-only $359.00 ea.

(3)-"BU", "S" mint Morgans-only $169.00

(1), date legible, "O" mint, Barber half-only $49.00 ea.

 

I can hardly wait to get out my checkbook!

[World Colonial]

I have seen these coins on eBay in either NGC or ANACS holders, cannot remember which. I have never seen the final sales price but I do not believe they bring high prices. Many or most of these coins have salt water corrosion. The demand for portriat coinage is also generally much lower than for the cob and columnarios (pillars) which preceded them.

[rrantique]

That price seems almost too good to be true....

 

Yes I've been at shows were a dealer was offering shipwreck coins (in this case 1861-O Liberty Seated half dollars in a fancy mahogany box for $4,500. That’s like sewing some pig ears together and offering them as a Gucci bag for $1.500.

 

[BULLY]

I've actually got a shipwreck coin from the El Cazador in an NGC holder, certified simply "shipwreck" and "authentic" I believe.

 

It came as a set with a booklet about the Shipwreck, the find, and in a wooden case with a plaque on the front that says "El Cazador" -- all in all, a nice piece, and the coin is much better looking than the one shown in the ad posted here.

 

I am not so good at taking coin photos yet, or I'd take a shot or scan of it. One of these days I'll try.

 

QVC was selling them for a while, and even the Morgan Mint was selling them ( www.morganmint.com )

 

I remember doing DARN well on the purchase compared to the regular price (I think the Franklin Mint originally had the whole kit and kaboodle of these, then they sold lots to QVC and the Morgan Mint, etc.).

 

Anyway, it was before xmas, and the Morgan Mint had a 20% off sale, so that knocked down the price right off the bat. Then there was a 15% off coupon I found online. Then I use a rebate site called Ebates.com that gives 1-26% cash rebates when shopping at over 800 sites online, including the Morgan Mint. The Morgan Mint has since lowered it's rebate, but at the time, it was 6% rebate, and the day I bought it was "cyber monday" the Monday after Thanksgiving, when the rebate was DOUBLED from 6% to 12% cash back! So, 20% off, then 15% off that, then 12% cash rebate -- it really made it a nice deal, especially with the nice box, the NGC certified coin, etc.

 

8 Reales is the original "Pieces of 8" that we heard about as kids or if we were into pirates, and what was often used as dollars in the new world. I've since thought about getting another one, but I am waiting for a price reduction again, or an auction online for a "deal" if someone might be unloading it. For now, I enjoy having one nice looking (and authenticated) shipwreck coin.

 

Mike B.