Diving Into Sunken-Treasure Investing...

[jeff k]

http://www.cnbc.com/id/39342234

UNESCO States

http://portal.unesco.org/la/convention.asp?KO=13520&language=E

 

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[MORE AND BEYOND OSSY]

So true Jeff, I paid way too much for a Atocha coin a few years ago. Dan Sedwicks current auction
for the same grade, are being sold for less than 50% of what I paid.
Ossy

 

[signumops]

Unesco implies that the signatory has the option of setting aside locations as inviolate; it does not mean that they will do so. Even the signatories produce salvage privately and under government control.

The Geldermarsen turned over a good profit for Hatcher, the porcelain continues to hold its value, and the salvage was fairly simple (aside from political intrigues). On the other hand, the Hoi An porcelain required saturation diving, a huge crew and considerable expense to recover. It did not cover profits for the salvor, but the salvage itself maintains a good ROI. It just did not pay off for the salvor. This might mean that there will be no salvage of porcelain in international waters as it is not profitable (given today's technology... everything changes in time).

You will notice in Sedwick's latest auction that large lots of Atocha coins are up for bid. I suspect that this will be the last time you see this occur. Your Atocha coins will begin to appreicate once again as the Fisher enterprise begins to wind down. The 1715 fleet coins are a great study in this regard.

 

[dagfoto]

So true Jeff, I paid way too much for a Atocha coin a few years ago. Dan Sedwicks current auction
for the same grade, are being sold for less than 50% of what I paid.
Ossy

It's hard to speculate what might be in demand .
The prices tend to drop on any item, once the inital frenzy goes away.

Atocha has a large name recognition, yet majority of the coins are so-so, from a numismatic standard. Just a piece of History, Not an investment.

Heritage sales are including more-n-more named (NGC certified) Wreck pieces that are slowly
increasing in price. Nice certifed XF/AU Graded shipwreck gold from the fleet and LUZ...
bring increasingly higher money; granted some not as much as they were originally sold for.

Check Ebay .. alot of low end Gold Escudos and shipwreck silver slugs are being dumped on..
Are they a good for "investment" ?.. (IMOA) not at the prices they are asking for them !..
yet if you can buy close to the gold price, they might be - as gold rises.
So investment,NO ; Gold speculator, YES.

Look at the Sao Jose,the prices are dropping (from their inital offering) . with only 1700 marketable coins (certifed by NGC) , once they sell into the market the price might turn around.

any Coins from the SS New York and SS Central America seem to be scarce at a price
less than $400. The High Dollar stuff always finds a home, as does the real low end.

If Odyessy wins their case .. who knows what the initial price for the Black Swan
coins might be. With several thousand+++ it will be interesting to see how long they
hold the inital value, seeing that 1805 pillar dollars have not been in too much of
a demand in the past.

remember .. it's the Thrill of the Hunt !!