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July 3, 2025There’s something magical about treasure ship coins—those pieces pulled from the ocean floor that whisper tales of storms and lost voyages. One sticky Tuesday, I found myself completely hooked after holding a single salvaged coin. Let me share that spark, along with some discoveries and tips for fellow collectors who love these underwater time capsules.
My First Shipwreck Coin
My collection started with a Spanish 2 reales from the El Cazador shipwreck. Like many of you, I couldn’t swing the famous 1715 fleet coins just yet. Quick backstory: El Cazador (“The Hunter”) was a Spanish brig carrying silver to prop up Louisiana’s economy when it vanished in the Gulf of Mexico in 1784. Can you imagine? Nearly half a million reales—mostly those iconic “Pieces of Eight”—all lost until 1993, when a fishing net snagged coins dated 1783. Now handled by Franklin Mint, these remain surprisingly affordable yet packed with history.
More Sunken Stories
That first coin opened floodgates. I later snagged an Australian gold sovereign from the RMS Duoro, which sank off Spain in 1882 after a collision. Mine’s PCGS-certified (Cert. #49106726), struck in Sydney in 1877. It spent 115 years under 1,500 feet of Atlantic water before salvage in the ’90s—and honestly, the condition blew me away. Most of the 28,000 recovered coins were sovereigns like this, with a few Brazilian rarities mixed in. I’ve also handled (though no longer own) an 8-reales cob from the 1682 Johanna wreck and even a Gold Rush-era nugget from a sunken ship. Each has its own salty personality.
Collecting Tips from the Deck
After years of hunting these, here’s what I’ve learned:
- Provenance is everything: Always get paperwork or stick to trusted sources like PCGS certifications. My Duoro sovereign traces back to Heritage Auction #3118 (Lot 30083)—that history adds real value.
- Don’t underestimate condition: Even after centuries underwater, coins can grade beautifully if conserved right. Look for minimal corrosion; careful recovery often leaves details surprisingly sharp.
- Stay alert for deals: Watch auctions and giveaways—Admiral Gardner coins sometimes pop up affordably. I’ve entered draws myself for those presentation sets!
Display pieces like reales fused to coral or framed with old receipts (I’ve got a 1967 $20 receipt showing 3% tax on an 8R) really hammer home how values have climbed.
Why These Coins Sail On
Shipwreck coins keep gaining fans—finite supply and killer stories do that. Rarity sets prices: El Cazador pieces stay budget-friendly next to 1715 fleet coins, while Duoro sovereigns command premiums for their gold and preservation. Grading matters hugely too; well-conserved examples like my sovereign can soar at auction. Before I sign off, show me your own treasures! Whether it’s a gold nugget, a rare token, or your first salvaged reales—let’s keep sharing these sunken sagas every Tuesday. What’s your favorite piece from the depths?

