Finding Shipwreck Treasure in Circulation: A Roll Hunter’s Guide to Cherry Picking Rare Finds

The Thrill of the Hunt

As a roll hunter, I’ve learned that the most exciting discoveries often happen right under our noses. You don’t always need a dealer to find treasure—sometimes, the real gems turn up in your local bank, at estate sales, or buried in bulk coin lots. With patience, knowledge, and a sharp eye, you can uncover remarkable finds that most people would overlook.

What Are Shipwreck Slabs?

Shipwreck slabs are special holders created by NGC (Numismatic Guaranty Corporation) for coins recovered from famous shipwrecks. These oversized slabs are immediately recognizable to experienced collectors and are typically larger than standard slabs to accommodate the unique nature of these recovered treasures.

Historical Significance

The most famous shipwreck coins include those from the 1715 Spanish Treasure Fleet, the SS Central America (Ship of Gold), and various other maritime disasters that sent millions in gold and silver to the ocean floor. These coins tell stories of colonial expansion, maritime trade, and often tragic loss of life. When you find one in circulation or at an estate sale, you’re literally holding a piece of maritime history.

Identifying Key Markers

When searching through rolls or bulk lots, look for these distinctive characteristics:

• Oversized slab holders that don’t fit in standard coin boxes
• Special labeling indicating shipwreck provenance
• Unique toning patterns from centuries underwater
• Distinctive corrosion or preservation marks

The coins themselves often show signs of their oceanic journey—a beautiful, natural toning that developed over centuries in saltwater environments. This toning is impossible to replicate artificially and is one of the key indicators of authenticity.

Storage Solutions for the Roll Hunter

One of the challenges with shipwreck slabs is storage. Unlike standard coins, these oversized holders require special consideration:

I have a coin in one of these slabs, I lay it flat on top of the normal slabs in my Intercept box. Not ideal but it works and the box fully closes.

Several creative solutions have emerged from the collecting community:

DIY Solutions

Many collectors have found success with improvised storage:

• CD cases—surprisingly effective for individual specimens
• Laying flat on top of standard slab boxes
• Custom foam inserts in larger storage containers

Professional Storage Options

For those with multiple shipwreck slabs, NGC produced specialized boxes:

There were two NGC boxes—one held 7, the other 12. I have an extra if interested.

These boxes were originally distributed with the coins and represent the ideal storage solution. They’re specifically designed to protect these valuable historical artifacts while showcasing them properly.

Where to Find Shipwreck Coins

The beauty of shipwreck coin hunting is that these treasures occasionally make their way into unexpected places:

Circulation Rolls

While rare, coins from more recent shipwrecks have been known to appear in bank rolls. This is particularly true for coins from the 20th century that were recovered and released into general circulation.

Estate Sales and Auctions

Many collectors eventually sell their collections, and shipwreck coins often appear at estate sales, particularly in coastal areas or regions with strong maritime history. Always check the provenance documentation carefully.

Bulk Lots

Online auctions and coin dealers often sell bulk lots of slabs. Patient collectors can sometimes find shipwreck specimens mixed in with other coins. The key is knowing what to look for.

Authentication Tips

When you think you’ve found a shipwreck coin, verify these details:

• Check the slab for proper NGC labeling and certification numbers
• Verify the coin’s characteristics match known shipwreck specimens
• Research the specific shipwreck and compare with known examples
• Consider professional authentication if the deal seems too good to be true

Value Guide

The value of shipwreck coins varies dramatically based on several factors:

Historical Importance

Coin from famous wrecks like the SS Central America command premium prices due to their historical significance and the dramatic stories behind their recovery.

Condition

Despite their time underwater, many shipwreck coins are remarkably well-preserved. Coins with minimal damage and attractive toning typically fetch higher prices.

Rarity

Some shipwreck coins are extremely rare, with only a handful recovered from certain wrecks. These command significant premiums.

Conclusion

Shipwreck coins represent one of the most exciting niches in coin collecting. Whether you’re a casual roll hunter or serious collector, the possibility of discovering these maritime treasures adds an element of adventure to the hobby. With proper knowledge, storage solutions, and a bit of luck, you might just find yourself holding a piece of history that spent centuries beneath the waves.

Remember, the key to successful cherry picking is knowledge. Learn to recognize the distinctive features of shipwreck slabs, understand their historical context, and always verify authenticity. Happy hunting!

Related Resources

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