Treasure Hunters find pristine gold coins from a shipwreck 1840s

[Agent Green]

Here is the link,...

https://www.dailymail.co.uk/news/ar...ge-19th-Century-South-Caroline-shipwreck.html

 

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[Darren in NC]

This is Herbo Humphrey's old wreck from MAREX. I'm glad to see them revive the hunt. Nice finds!

 

[Jason in Enid]

I really wanted to read the article but that website is total garbage! There are so many ads and popup ads I cant even read the post!

 

[MiddenMonster]

Here is the link,...

https://www.dailymail.co.uk/news/ar...ge-19th-Century-South-Caroline-shipwreck.html

I was under the impression that as elements go, gold is relatively non-reactive. Would it really be surprising if gold coins that went into the water in pristine condition came out of hte water in pristine condition, even almost 180 years later?

I really wanted to read the article but that website is total garbage! There are so many ads and popup ads I cant even read the post!

Three words: Ghostery and Adblock Plus. Problem solved.

 

[Boatlode]

I was under the impression that as elements go, gold is relatively non-reactive. Would it really be surprising if gold coins that went into the water in pristine condition came out of hte water in pristine condition, even almost 180 years later?

Yes, that is correct. Gold does not oxidize like silver does. The gold coins recovered from the 1715 wrecks are in mint condition.

 

[aquanut]

I really wanted to read the article but that website is total garbage! There are so many ads and popup ads I cant even read the post!

During the brief time I was on the site, Adblock blocked 208 ads!

 

[A2coins]

All I want is one I bet theres trillions in gold and silver in the oceans..Trillions also in the dirt just dropped coins

 

[MiddenMonster]

Yes, that is correct. Gold does not oxidize like silver does. The gold coins recovered from the 1715 wrecks are in mint condition.

That's what I would expect. On the other hand, I could see abrasion damaging them after being submerged a long time, but the article specifically states that these coins were shielded from that.

All I want is one I bet theres trillions in gold and silver in the oceans..Trillions also in the dirt just dropped coins

That sentiment certainly gives hope to all treasure hunters in the world. But depending on one's interpretation, this might put a damper on it:

https://en.wikipedia.org/wiki/Gold_reserve
"The World Gold Council estimates that all the gold ever mined totaled 190,040 metric tons in 2019 but other independent estimates vary by as much as 20%. At a price of US$1,250 per troy ounce, reached on 16 August 2017, one ton of gold has a value of approximately US$40.2 million. The total value of all gold ever mined would exceed US$7.5 trillion at that valuation and using WGC 2017 estimates."

Silver - Visualized in Bullion Bars
This infographic shows all the Silver ever mined throughout history. Silver price is currently hovering around $30 / troy oz. When Silver price hits $31.10 / troy oz each gram of Silver will be exactly $1. Silver is usually measured in Troy Ounces. A Troy Ounce is about 1.09 regular Ounces.

All Silver Mined in History - 1,411,475 T

The historical cumulative Gold to Silver production ratio is 1:10.7. The price ratio of Silver to Gold is currently around 1:50.

So if we assume the above numbers are accurate and start with $7.5 trillion worth of gold that has ever been mined, and then do some quick math for the silver based on the data above--and keeping in mind the Order of Operations we learned as kids, we get:

1,411,475 tons of silver * 2000lbs per ton = 2,822,950,000lbs of silver * 454 grams per lb. = 1,281,619,300,000 grams of silver * 1 dollar per gram = $1,281,619,300,000.

Then we add $7,500,000,000,000 worth of gold to $1,281,619,300,000 worth of silver and get a combined value of $8,781,619,300,000 worth of gold and silver that has ever been mined in the history of the world. That means if trillions (plural) of dollars of lost gold and silver are there waiting to be found, at least 22.78% of all the gold and silver ever mined has been lost throughout history, i.e. $2,000,000,000,000/$8,781,619,300,000. And that would include the coins that were minted from said gold and silver, in addition to gold and silver artifacts that have been created throughout history. And since there is numismatic value to coins and Antiques Roadshow value for artifacts that exceeds their precious metals weight, that number will be higher or lower depending on the ratio of lost gold and silver:lost gold and silver coins and artifacts.

Now y'all know it's been a very slow day for me. But hey, fun with math, people! I'm hoping to find my share of that loot.

 

[Alexandre]

"Hard to reach at 75 feet"?

Someone needs investors really bad...

 

[Agent Green]

I would like a gold coin from the wreck,... what a find! Thanks for looking.. HH&GL..

 

[Billieg]

I really wanted to read the article but that website is total garbage! There are so many ads and popup ads I cant even read the post!

Look up Ad block plus and install it. You will still get ads but at least you can read the article.

 

[Red_desert]

The right gold coins and in mint condition.

 

[Alexandre]

It makes you wonder...

The right gold coins and in mint condition.

 

[Red_desert]

It makes you wonder...

​

The reason I said this, I know of a shipwreck treasure hunter and his brother who used to be in Central America, then also the Caribbean, some time in Indonesia also... but they were old time treasure hunters now retired. They even had a Spanish gold emerald ring on display in a museum. The 2 gold coins they held onto until recently, were in mint condition. Several years ago, the one gold coin was sold and paid for boat engine repairs and complete overhaul. The other gold coin sold recently, paid for a brand new boat engine. Neither of the gold coins were Spanish, I know what the coins were and also where the coins found (what the wreck was and don't ask me because that is all can say right now about it).​

 

[Red_desert]

Well, probably said way too much, somebody might be able to figure that out who knows their gold coins.

 

[Darren in NC]

Red, are you saying these coins were planted on the site?

 

[Red_desert]

Red, are you saying these coins were planted on the site?

No, they were not planted... I guess I should say what they were, maybe not worth as much as I imagined but early gold rush era coins can be valuable, if you get the right ones. Those miners would rather drown trying stay afloat in the water with their poke of gold coins minted from native gold. So actually, the coins would not be right on a wreck site but where the miners drowned.

 

[Salvor6]

Red, go to PCGS.com and click on their price guide. The 1839 $2.5 gold coin in MS63 condition with mint mark "D" are selling as high as $70,000. They are very rare. They probably drowned right next to the wreck with all that gold in their pockets.

 

[agflit]

Not that I would have any kind of real idea as to the actual "physical" location of recovered said coins....*sarcasm*....

See above post...nails it.

And note..."Could be" D minted...specie on site..

 

[Red_desert]

The wreck itself is sanded in, I think the coins were dredged. There is one story I read about or came across once in my research. The boat caught fire as the miners were returning home from the mint up north. In that story miners were jumping off the boat along the way. Anyway it doesn't matter, they got new mags now, detectors, tired of being retired and back out there doing mag surveys. Making drops in the water again and using the new boat engine. I found out what those new high tech mag they got now cost... not cheap, hope it's worth it all for them to start up again.