Treasure Ship Tuesday: My Deep Dive into Sunken Coin Treasures

I’ve always been fascinated by shipwreck coins—they’re like time capsules from the deep, blending history, adventure, and numismatic thrill. With Treasure Ship Tuesday in mind, I decided to explore some of my favorite sunken treasures and share insights that could help fellow collectors. Let’s dive into the stories and practical tips that make these coins so special.

The El Cazador: A Hunter’s Lost Silver

My journey started with the El Cazador, a Spanish brig that sank in the Gulf of Mexico in 1784. I was drawn to it because it’s a more affordable alternative to the famous 1715 fleet coins. King Carlos III sent this ship to stabilize Louisiana’s economy with hard currency, loading it with about 450,000 Spanish reales, mostly 8-reales “Pieces of Eight.” That’s a staggering 37,500 pounds of silver! The ship vanished without a trace until 1993, when a fishing trawler hauled up coins dated 1783. Now, many of these coins are handled through reputable sources like the Franklin Mint, making them accessible for collectors. Key takeaways:

• Collecting Tip: Focus on coins with clear provenance; look for documentation or certification to avoid fakes.
• Market Insight: El Cazador coins are often undervalued compared to other shipwreck finds, so they’re a smart entry point for new collectors.
• Grading Note: These silver coins can show environmental damage, so prioritize examples with intact details and minimal corrosion for better value.

Other Sunken Gems I’ve Encountered

Beyond El Cazador, I’ve explored coins from wrecks like the RMS Duoro and Johanna. The Duoro story is riveting—this British steamship sank off Cape Finisterre in 1882 with a treasure trove of gold sovereigns. I once owned a Sydney-minted 1877 sovereign (PCGS cert. #49106726) salvaged in the 1990s. It’s remarkable how well-preserved it is after 115 years underwater, graded Mint State due to the deep, cold ocean conditions. Similarly, the Johanna wreck off South Africa yielded Spanish cobs from 1682, though I no longer have mine. Other highlights include:

• Admiral Gardner coins: Keep an eye out for giveaways or auctions; they often come in presentation booklets, adding collectible appeal.
• Non-coin treasures: Items like Gold Rush-era nuggets or coral-encrusted displays can complement a collection, but verify authenticity through specialists.
• Auction Finds: Heritage Auctions (e.g., Lot 30083) frequently feature shipwreck coins, so monitor sales for opportunities.

Practical Advice for Shipwreck Collecting

Based on my experiences, here’s how to build a rewarding collection. First, prioritize coins with documented salvage history—certifications from PCGS or NGC add credibility and value. For grading, remember that underwater exposure can cause unique toning or encrustations; professionals account for this, so don’t shy away from coins with character. Market-wise, shipwreck coins often appreciate due to limited supply, especially from well-known wrecks. Always buy from trusted dealers or auctions, and consider entry-level options like El Cazador reales before splurging on rarer gold pieces. Finally, share your own treasures—whether it’s a coin or a story, it keeps the community vibrant.

What sunken treasures do you cherish? I’d love to hear about them in the spirit of Treasure Ship Tuesday!