Thats called a concretion. It is the oxidized metal, such as rust or silver oxides, forming and the surrounding sand or shells will get stuck in it and it will get real hard and actually be like concrete. When you find things on a very old shipwreck, must of the stuff is very encrusted. There is also other things, such as coral, coralline algae, and shells such as barnacles, and tube worms that form on things in the water. If you want to save modern coins, you can tumble them. Some older things get so bad IF you want to remove the concretion you have to hit it with a hammer. Or if it might be something good, you can use acid or reverse electrolyis