First class first


Mar 23, 2004
24
0
71
Oh, and I forgot.

If one gold cargo is aboard, I believe that they're both aboard. The US Navy payroll and operational funds shipment would be, most likely, $265,000 face value in various denomination, dates, and conditions. If we use a pro-rata equivalent for the figures in circulation regarding the recent find of the SS Republic (1865, former SS Tennessee), they say their $400,000 face value shipment might be worth today $180 million. At that rate, our $265,000 would be worth $120 million. My estimates on the US Navy funds are, perhaps, $20 million to $30 million current market value.

And, let's not forget all the other goodies that might be aboard (visit RMS Republic).

Problems, problems, problems ...
 
Sep 22, 2003
571
0
111
Coatesville, PA
I use to collect coins, so i have a somewhat good idea of coin values. it seems from your description that most of these coins would be in Mint Condition. Do you plan on selling the coins if any are found? If so will they be Certified or Raw?

For those Unfamiliar W/ coin terms. A Raw coin is simply a coin which has not been graded/certified by a 3rd party grading service. A certified coin being a coin which has been graded in and certified, and placed into an air tight capsule. coins are graded on a scale of 1-70, 60-70 occupying the mint state range.
 
Mar 23, 2004
24
0
71
Hello, Jesse,

I'm sure we'll have all the coins graded, but, by whom, we're not yet certain. Although, given the likely variety of coins and conditions, we may package others sans grading but with authentication as to source. These are decisions that we cannot make until we have the coins in-hand.
 
Sep 22, 2003
571
0
111
Coatesville, PA
I'll agree w/ you there. Don't make decisions who grades the coins until you see them for yourself. I'm not sure what companies you have in mind, though i would stick to the big four: ANACS, ICG, NGC, and PCGS. Everything else just does't get that the demand they do and collectors and investors are picky about what company slab there coins are in.

For those not Familiar w/ coins, a slab is the same as a capsule.
 
Mar 23, 2004
24
0
71
Thanks, Jesse,

That's IF the cargo's on board, IF we can find it, and IF we can recover it. (All of that normally follows finding the wreck - which we've already accomplished - in 1981.) The hurdles are in that order - but if we can prove the first, prove the cargo, the next two hurdles are much easier to overcome.

Normally, treasure wrecks have documented cargos -i.e. Atocha, Central America, and others. Finding a wreck with a documented cargo allows everything else to fall into place. That's the greatest hurdle with RMS Republic.

My interest is to solve the mystery ... But, the Gods often laugh at the plans of men.
 
Mar 23, 2004
24
0
71
Actually, let me correct my last post. Proving the cargo is ALWAYS first. The three most important attributes of a successful salvage: it's research, research, research. But, in this case, it was my finding of Republic that has pushed the research effort beyond the efforts of others - perhaps the reason that no one else had put the puzzle together (IF, indeed, I am right.)
 

Jeremy Lee

Member
Jun 12, 2003
1,374
1
161
Jesse, I would say coins slabbed by PCGS is the preferred choice by collectors now. Freshly minted coins found on the Central America grades about MS64 to MS65! I should think the same grades apply for the Republic.
 
Sep 22, 2003
571
0
111
Coatesville, PA
Jeremy

PCGS and NGC Coins grab about the same price, and ANACS and ICG will come in use for Varieties or bagged coins that PCGS and NGC won't grade. the main service that any collector or investor wants to stay away from is ACG/Accugrade.
 

Similar threads