Endurance Exploration Group (OTCQB: EXPL) and project recovery partner Blue Water Ventures International (OTCPK: BWVI) are pleased to announce that Numismatic Conservation Services (NCS) and Numismatic Guaranty Corporation (NGC) have been selected to conserve, attribute and grade coins recovered from the wreck of the SS Pulaski.
The SS Pulaski sank in 1838 off the coast of North Carolina while sailing from Charleston, South Carolina, to Baltimore, Maryland. It is one of the most notable shipwrecks in the early history of the United States.
Recent recovery efforts by Endurance Exploration Group and Blue Water Ventures International have found coins from the US, Spain, Mexico and Great Britain among other artifacts. Foreign coins were legal tender in US at the time the SS Pulaski sank due to the scarcity of US Mint issues.
The SS Pulaski is particularly significant because it is one of the earliest shipwrecks from which US coins have been recovered. The coins initially recovered include well-preserved half dollars and half eagles from the 1830s as well as several earlier issues.
The coins will be professionally conserved by NCS, which was established in 2001 as the world’s first professional coin conservation service. NCS has extensive experience with shipwreck-recovered coins, having previously conserved coins recovered from several major shipwrecks.
After conservation, coins will be attributed and graded by NGC, an affiliated company. NGC was founded in 1987 to provide accurate, consistent and impartial assessments of the authenticity and grade of coins. Once graded, coins are encapsulated in NGC’s proprietary protective holder with a certification label that notes the coin’s description and grade.
The SS Pulaski coins will be encapsulated by NGC with a special certification label that features an engraving of the ship. In addition to noting the description and grade of the coins, the label will identify their SS Pulaski provenance.
NCS and NGC are housed in the same 60,000-square-foot, secure, climate-controlled facility in Sarasota, Florida. The companies also have offices in Hong Kong, Shanghai, and Munich.
"This may be one of the most significant shipwreck finds of early US silver and gold coins," says Mark Salzberg, chairman of NCS and NGC. "We are honored to have been selected to examine, conserve and grade coins from this historic shipwreck."
"We are pleased that NCS and NGC have begun their conservation and evaluation of the recovered coins," states Micah Eldred, president of Endurance Exploration.
Keith Webb of Blue Water Ventures International adds: "With recovery efforts resuming in 2018, we hope to keep NCS and NGC very busy."
For information about NGC and its grading services, visit www.ngccoin.com.
Considering the fact that literally hundreds of ships that have gone to their watery graves throughout the past few centuries, there must still be tons of precious metal and other artifacts waiting to be found at the bottoms of the various seas. I think we can be confident that this is not the last horde of fascinating historic treasures that will be discovered.
Old Collector
Notice that the NGC label for these cleaned coins doesn’t say “shipwreck effect” as they have with past NGC cleaned slabbed shipwreck coins. They have removed saltwater damage, marine encrustations, mineral deposits etc. off these damaged gold coins that have 10% copper in their alloy that reacts with the sea environment. Very deceptive marketing practice!
-NumisdudeTX
Greetings all, Shipwreck coins are in a league of their own and conservation techniques have evolved. NGC or PCGS labels have evolved as well. Having shipwreck or environmental damage serves no purpose on the label. The ship that wrecked is clearly shown on the label and environmental damage does not apply to conserved coins that clear inspection and grading. It is very important to have an understanding of chemistry and environmental factors – such as – water temperature – location of the wreck – water type ect. Example: The S.S. Central America sank in 1857 amid calcium carbonate sands that… Read more »
Mouse – You & I know all this info, but the beginning collectors & novices who may buy these coins do not. Many of these gold coins are common ones, but because they sank on a ship they are worth more??!! & the fact that their molecular structure on the surface was changed is important. If you put such a 90% gold, 10% copper coin in a saltwater fish tank for a few years & then sent it to NGC they would put “environmental damage” on the label or refuse to grade it & return it to you in a… Read more »
I could not agree more. I would never consider buying one of these soon to be over priced pieces of gold. If it was a rare coin, untouched, covered in barnacles, than that it a totally new ball game.
To me, these recovered coins should have been seized by the US government as historical treasure and given to the surviving families of the ship wreck. 50 per cent of the passengers lost their lives, entire blood lines were lost. These coins have bad karma.
Mouse
how do you know they will be “over priced”? you have no idea if, when, how, and for how much they might be offered. and, there is certainly no one twisting anyone’s arm to buy any of these. as for what the govt should do, salvage laws have long been established and precedent set in the us federal court. if these coins were important to the families, why aren’t the spending the $ it requires to go find the wreck themselves?
After seeing this bit of news re: the recovery from the Pulasiki I thought to myself, ‘ It might be nice to own some of this history’. Thaniks to everyone for sharing some knowledge, insight, viewpoints and experience regarding the TPG’s classifications. It was a good reminder for all of us.
It should be noted that PCGS did the exact same thing with the recovered gold from the S.S Central America. Gotta love a free market economy. I am a fan of both grading companies and own slabs from both and will continue to. They are both reputable companies and deserve equal respect.
Mouse
Unfortunately the U.S.A. doesn’t really have anything even remotely resembling a true “free market economy”. A country like ours that has repeatedly used taxpayer dollars to bail gigantic private institutions out of catastrophic financial difficulties of their own making is a classic example of a society invested in adhering to a philosophy of socialism for the rich and capitalism for all the rest.
That be the truth, sad but true.
What makes it so sadly and bizarrely ironic is that there are clearly enough financial resources available here in the United States to make life eminently livable for one and all; after all, this is the wealthiest country in the history of the planet. Why such an overwhelmingly massive part of such an unprecedentedly enormous fortune has to be hoarded by little more than one percent of the population at the expense of the remaining ninety-nine percent is something that escapes me entirely. Unfortunately this tremendous imbalance has been so firmly built into the system that at this point it… Read more »
We need another *Great*American*Bailout! But this time bailout, not the 1%, but please* bailout the 99%, direct deposit only!
Joe Brown – A really splendid idea that I agree with absolutely, but for any such kind of compensatory bailout to come even close to making good on equaling the amount the 99% paid out of taxpayer pocket to rescue those wanton criminals among the 1% from the ruins of their own financial downfall, we 99% would be due well over $4.6 TRILLION DOLLARS and (still) counting. The unfortunate reality, however, is that we would be much more likely to see something like the very ghost of the late great Ed McMahon arriving ceremoniously at the front door with a… Read more »
Good topic on the grading of ship*wreak coins! Who’s to say, but *i don’t think they would, but it could be done & really no one is the wiser, for a decent mintage ship*wreak coin, it be very easy to put a mint*state 63*grade of a higher mintage of that era coin in a slab, & call it a ship*wreak coin for twice as much, among other things that could be! *I still search the shallows from time to time, around here, with mask* & snorkel, fins, hoping some drunken *pirate forgot where he lowered their *booty*$$ in a sack… Read more »
Joe Brown – Speaking of which, back in the day would you ever have imagined that the hero of “Sea Hunt” would one day be playing a wacky wired goofball given to making a whole raft of crazy comments like “I picked a bad week to give up sniffing glue” just before he hilariously fell backwards out of the control tower in “Airplane”? :silly:
Old Collector – Did not catch hat one, they are funny people, the ones that started out somewhat serious* in there careers can be wicked funny! Seaing its *Easter, Heston as *Mosses, just the other night while surfing threw channels, wanted to blow some guys head off for not doing his *lovely daughter! 😆
Joe Brown – So THAT’S how he came to be the celebrity spokesperson for the NRA! 😉
that & some rather large donations *i would say! Plus hes a great actor, remember Ben*Her, now a classic! But that,s what made that seen so funny! Just good old jabbing at the anti NRA people! But some bone head might sea* it the wrong way, & act it out, as we all know so sadly!
btw* – people of the *world of *coins! Easter feast*day, hope all enjoy,*+*peace*b*with*us,*smile. day is done!