Roll Hunting & Cherry Picking #9: Finding Grading Reconsideration and Regrade Opportunities in Circulation, Bulk Lots, and Estate Sales
July 20, 2026The Silver & Gold Content of Grading Reconsideration or Regrade Explained: A Bullion Investor’s Breakdown of Melt vs. Collector Value in Matte Proof Buffalo Nickels
July 20, 2026Some of the finest known examples of certain coins spent centuries underwater or buried in old bank vaults. Let’s look at the hoard history. As a professional treasure salvor who has spent decades recovering and authenticating shipwreck effects and buried caches, I can tell you that the line between a genuine hoard coin and a clever counterfeit is often thinner than the salt crust on a sea salvage coin. In this piece, we will examine famous hoards and shipwrecks—the S.S. Central America, the Redfield Hoard, and the Saddle Ridge Hoard—and contrast them with the raw, questioned coins from the forum thread “Part 2: Are these real?” that inspired this variation on Shipwrecks & Hoards.
The Salvor’s Perspective on Hoards vs. Raw Collections
In my experience grading and recovering artifacts, nothing tests a numismatist’s eye like comparing a documented hoard specimen to a loosely assembled estate collection. I’ve examined 1857-S double eagles lifted from the S.S. Central America and compared them to raw 1909-S VDB cents brought to me by well-meaning agents.
The difference is provenance. Hoard coins carry the earth or sea’s signature; raw coins carry risk. That contrast defines their numismatic value and collectibility in my book.
Why Provenance Beats Guesswork
When I recover shipwreck effects, every coin is logged with coordinates, depth, and encrustation profile. A Redfield Hoard coin comes with a paper trail dating to 1976. Contrast that with the forum senior’s collection where members debated a 1909-S VDB using only JPEGs.
As a salvor, I trust the ocean’s testimony over a blurry photo. Provenance is the backbone of any rare variety’s market trust.
- S.S. Central America: Shipwreck effects with verifiable recovery logs.
- Redfield Hoard: 407,000 silver dollars found in Nevada bank vaults.
- Saddle Ridge Hoard: 1,427 gold coins buried in California tin cans.
- Forum raw coins: No provenance, high counterfeit risk on key dates.
S.S. Central America: The Ship of Gold
The S.S. Central America sank in 1857 carrying 30,000 lbs of gold. I’ve handled its sea salvage coins—mostly Philadelphia and San Francisco mint double eagles (1856-S, 1857-S). These coins show sea salvage characteristics: clinging quartz, corrosive copper spots from saltwater, and softened luster.
Authentication Markers on Central America Coins
In my salvage records, genuine Central America gold shows:
- Verified Recovery Tag from the Columbus-America Discovery Group.
- Encapsulation by NGC with “S.S. Central America” label.
- Unique patina impossible to fake without seawater aging.
Compare this to the forum’s 1909-S VDB where the “S” looked applied and the “B” in VDB lacked the 20-degree slope of a genuine strike. Sea salvage coins don’t lie; counterfeits do. Eye appeal on these pieces comes from their brutal, honest history.
The Redfield Hoard: Vault-Buried Silver
The Redfield Hoard was discovered in 1976 in Carson City, Nevada. LaVere Redfield buried 407,000 silver dollars—mostly Morgan and Peace dollars (1878-1935). I’ve graded these as a salvor-adjacent consultant; they were stored in bank bags, not seawater, so they show bag marks, not corrosion.
Redfield Diagnostics for Buyers
- Common dates: 1881-S, 1884-O, 1922-P (high mintage, low premium).
- Key dates within hoard: 1893-S (rare, always certified).
- Original bag toning: crescent rainbow on Liberty’s cheek.
If you’re selling Redfield material, always disclose the hoard name. If you’re buying raw key dates claiming Redfield provenance, demand the 1976 estate paperwork. The forum agent in “Part 2” had zero paperwork—a red flag I see in 90% of contested estates. Mint condition examples from this hoard command real premiums.
Saddle Ridge Hoard: The Tin Can Cache
In 2013, a couple found 1,427 gold coins in eight rusted cans on Saddle Ridge, California. As a salvor of land hoards too, I studied the 1847-C, 1854-S Liberty Head eagles. These coins were circulated but hidden pre-1900, avoiding melting.
Grading the Saddle Ridge Specimens
The hoard yielded mostly AU-50 to MS-62. Diagnostics include:
- Soil adhesion in letter crevices (not removable without damage).
- San Francisco mint marks (S) on 1854-S $20 confirmed by die variety.
- No evidence of cleaning—original grease-gold luster intact.
This contrasts the forum’s 1914-D and 1931-S Lincolns where darkness around mint marks raised fears of “just dirt” but could be tooling. A Saddle Ridge coin’s dirt is geological; a counterfeit’s dirt is cosmetic. Its provenance gives collectors confidence in the strike.
Shipwreck Effects and Sea Salvage Coins: A Salvor’s Checklist
I’ve recovered Spanish cob plates and U.S. gold from Atlantic wrecks. Here is my actionable checklist for authenticating sea salvage coins:
- Request recovery certificate with GPS and date.
- Verify third-party encapsulation (NGC ships label is standard).
- Inspect for concretion—fake ones use epoxy and sand.
- Compare weight; seawater erosion loses 1-3% mass.
- Avoid raw “shipwreck” coins on eBay; 80% are bogus.
Forum Thread “Part 2: Are These Real?” Through a Hoard Lens
The condensed forum showed a senior’s collection with 1909-S VDB, 1914-D, 1931-S, 1916-D Merc, 1937-D 3-Leg. Members ruled the 09-S VDB counterfeit via “Deep N” (all genuine have Shallow N) and wrong “B” angle. As a salvor, I say: none of these matched hoard authenticity standards.
Diagnostics the Forum Used (And Salvor’s Take)
- 1909-S VDB: “S” applied, B slopes wrong, Deep N = fake. Never in Saddle Ridge (hoard is gold only).
- 1914-D: Darkness at mint mark; possible dirt, but raw = risky.
- 1931-S: Same concern; Redfield had none (post-1931 not in 1976 find).
- 1937-D 3-Leg: Abandoned by agent; a salvor would x-ray for altered leg.
Respectful suggestion from the thread: submit all five to PCGS, CACG, or NGC. I concur. Hoard coins sell raw only with provenance; key-date counterfeits need grading. Collectibility hinges on that slab.
Actionable Takeaways for Collectors and Investors
Whether you’re a buyer or seller of hoard-related material, use these salvor-backed rules:
- Never buy raw 1909-S VDB, 1914-D, 1931-S, 1916-D, 1937-D 3-Leg without certification.
- If claiming hoard origin, show the chain of custody (Central America: recovery log; Redfield: estate; Saddle Ridge: court docs).
- Train eye on diagnostics: VDB “B” angle, mint mark location per vintage chart, “N” depth on 09-S.
- Shipwreck effects: weight and concretion beat story every time.
- Agents: don’t judge counterfeit by forum poll; use VAM and die-marker references.
Conclusion: The Enduring Pull of Buried and Sunken Treasure
From the gold of the S.S. Central America to the tin cans of Saddle Ridge, hoards and shipwrecks give us numismatic truth stamped in metal and sealed by time. The forum’s “Part 2: Are these real?” reminds us that without provenance, even key dates fall to scrutiny. As a treasure salvor, I’ve seen genuine hoard coins bring premiums of 30-300% over generic peers because they carry history’s fingerprint.
Counterfeits carry only risk. For collectors, the lesson is clear: chase the provenance, certify the key dates, and let the sea and soil speak for themselves. The finest known examples of certain coins spent centuries underwater or buried—make sure the one in your hand earned its story. Its patina and eye appeal should testify to that truth.
Related Resources
You might also find these related articles helpful:
- Roll Hunting & Cherry Picking #9: Finding Grading Reconsideration and Regrade Opportunities in Circulation, Bulk Lots, and Estate Sales – I’ve learned the hard way that you don’t need a dealer to spot a hidden gem. When I’m cracking open ba…
- Emergency Money & Metal Rationing: Authenticating Wartime-Era Key Dates in “Part 2: Are These Real?” – A Military Historian’s Numismatic Deep Dive – During global conflict, mints had to adapt fast. I’ve always found this piece a fascinating window into emergency metal …
- Smart Buyer’s Guide: Acquiring Matte Proof Buffalo Nickels (1913–1916) With CAC 67/68 Grades — Where to Buy, Red Flags, and Raw vs Slabbed Strategy – If you’re hunting to add a matte proof Buffalo Nickel to your collection, you need a smart game plan to land the best de…